Latest News – Page 681
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NewsWhy enter the Tech & Innovation Awards?
What does it take to enter for the Insurance Times Tech & Innovation Awards? Here, four entrants for this year’s awards talk about their achievements and what motivated them to nominate their products and innovations. Click here today to give your team the recognition they deserve ...
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NewsEx-Biba small broker chair: 'speak candidly about commissions'
Yutree Insurance managing director Kevin Hancock said it was time for brokers to speak candidly to customers about commissions they earned and what a client might get for the payments. He was responding to comments by ABI director of general insurance policy James Dalton calling for ...
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NewsNumber of uninsured vehicles since 2010 falls by 28.6% to 1 million
The number of uninsured vehicles is estimated to have reduced to 1 million from 1.4 million since 2010, as a result of the Continuous Insurance Enforcement (CIE) programme. Parliamentary under-secretary for the department of Transport Andrew Jones provided this information to MPs in a written response ...
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NewsBrokers need to be creative with schemes to stand out from rivals
Brokers need to be more creative if they want to make their schemes stand out in an environment of heavy competition, Commercial Express underwriting manager Jordan Gregg has said. He added that it was also important for brokers to regularly update their schemes to prevent them ...
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NewsZurich personal lines and Endsleigh MD departs after eight months
Zurich UK Personal Lines and Endsleigh managing director Patrick Cohen has resigned after less than a year in his role, Insurance Times can reveal. Cohen was appointed in October 2015. He took over from David Nichols, who had been running personal lines and Endsleigh on an ...
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NewsGreg Collins to replace Graham Clarke as Miller boss in 2017
Broker Miller plans to appoint chief operating officer Greg Collins as chief executive in 2017. At the same time Nicholas Lyons will be replaced by Graham Clarke as non-executive chairman. The announcement is part of a raft of appointments to support Miller’s board succession plans. In ...
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NewsLloyd's syndicates deliver another strong year - S&P
Fewer catastrophe events, combined with lower and less frequent casualty claims, helped Lloyd’s syndicates deliver another strong set of results in 2015, according to Standard & Poor’s. The average combined operating ratio (COR) was 90%, but the ratings agency added that some syndicates have been hit ...
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NewsKelliher names Coggan chief executive, reports lower profit
Kelliher Insurance announced a new chief executive as it reported lower profit for the year to December. Former managing director Imogen Coggan (pictured) has been promoted to chief executive, and the company said it is planning to expand further, primarily through organic growth. Pre-tax profit fell ...
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NewsAXA: Brokers upfront on commission will step up transparency agenda
Brokers have to play their part and be upfront with customers about commission levels to show the industry is serious about being transparent, AXA UK and General Insurance chief executive Amanda Blanc has said. She was responding to a speech yesterday by ABI director of general ...
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NewsCIO/CTO Tech Awards winners say success comes from teamwork
Chief Information Officer/Chief Technology Officer of the Year is the blue riband accolade of the night at the annual Insurance Times Tech & Innovation Awards. Here we look at some of the recent recipients of this prestigious award. Click here today to give your team the ...
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Online onlyABI warns on transparency of broker commissions
It is “only a matter of time” before regulators force greater transparency of broker commission, according to the ABI. Speaking at the Birmingham Insurance Institute on Wednesday, ABI director general insurance policy James Dalton questioned if it was fair that commercial customers had to ask brokers ...
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NewsInvestors eye stake in Miles Smith
Investors are eyeing a stake in Miles Smith. Insurance Times understands that Miles Smith is looking at restructuring its capital. Back in 2008, Miles Smith entered into a deal with Lloyd’s insurer Amlin, which acquired a minority shareholding in the independent UK retail broker. Although no ...
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NewsExpert View: Why the CMC review is no silver bullet
Carpenters partner Donna Scully on why tougher regulation of claims management companies must also preserve a system where genuine customers are treated fairly
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NewsAdrian Flux launches ‘UK’s first’ driverless car policy
Adrian Flux has launched what it claims is the UK’s, and maybe the world’s first personal driverless car insurance policy. The policy is designed for consumers who may already have driverless features in their cars, such as self-parking, or who may be thinking of buying a ...
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NewsAirmic 2016: Insurance ripe for disruption because of 'weak' structures
The insurance industry is open to being disrupted because its structures are inefficient, according to QBE European Operations chief executive Richard Pryce. During a panel debate at Airmic yesterday about innovation Pryce said weak company structures meant that firms were struggling to deliver innovative products. He ...
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NewsAirmic 2016: Insurance Act will bring period of 'chaos and muddle'
The inception of the Insurance Act is going to be followed by a period of chaos and muddle in the insurance market, delegates at the Airmic leadership debate were told. BT Group insurance and risk financing director Tracey Skinner, who sat on the panel yesterday to ...
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NewsAirmic 2016: Insurers must be more efficient to survive low rates
The insurance industry cannot survive indefinitely on flat or shrinking rates, minimal investment income and low levels of natural growth in the market, a panel of leading insurance experts at Airmic have said. During the debate, QBE Euopean Operations chief executive Richard Pryce also questioned how ...
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AgendaAllianz to offer cyber consultation after new deal
Allianz has partnered with IT Governance, a global cyber security consultancy, to offer free online cyber risk assessment. The tool is designed to help businesses protect themselves against a potential cyber attack. Allianz’s commercial policyholders will receive a tailored cyber security improvement report through an online ...
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NewsAirmic publishes clause ‘to protect’ against breach of fair presentation rule
Airmic has published a sample clause to be inserted into insurance policies which it claims will protect customers who innocently breach the duty of fair presentation introduced by the Insurance Act. One of the key parts of the Act is to replace the all-or-nothing remedy of ...
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AgendaInsurers lack a ‘culture of innovation’, research says
Half of the members of risk managers’ association Airmic believe their insurers are “hardly innovative” or “not innovative at all” in developing relevant cover, according to research by Airmic. The report highlights that only 1% of Airmic members view their insurer(s) as “highly innovative”, and that ...
