Latest News – Page 684
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Online onlyNeos chief exec: 'Insurance suffers from being conservative'
Neos chief executive Matt Poll, who left MoreThan after 15 years to create a home insurance start-up, explains the potential dangers for insurance companies of not engaging with their customers properly, and why they must be more agile with new ideas.
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Online onlyUnimpressed consumers reject 'connected home' transition
Most consumers are unwilling to buy smart home technologies and lack interest in the ‘Internet of Things’, a new survey has found. PricewaterhouseCoopers (PwC) found that 72% of people surveyed were reluctant to adopt smart home technologies such as smart heating systems, renewable energy devices and ...
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NewsIce-cream van fraudster faces a year in jail
A man has been handed a one-year suspended sentence for his part in a series of insurance frauds involving an ice-cream van. Thirty-nine-year-old Barry Mark Sandmann of Brompton Lane, Strood, Kent was sentenced on Friday 27 May at the Old Bailey. In addition to his suspended ...
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NewsBluefin Underwriting hires Coughlan as head of finance
Bluefin Underwriting has hired Ian Coughlan as head of finance reporting into Paul Drake (pictured), head of Bluefin Underwriting. Coughlan has spent the last eight months working with the Bluefin Underwriting team as a specialist consultant. He previously spent six years as finance director at Jardine ...
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NewsUK General hires two to beef up broker business
UK General said it has hired Barry McCormick and Rob Tustin business development managers. McCormick has joined UK General’s sales team to develop its new broker business in Scotland. The role has been created to meet a surge in demand for bespoke personal lines schemes which ...
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NewsHelios 2015 profits down, makes £3.75m acquisition
Helios Underwriting reported lower profits for 2015 as its reinsurance levels increased, The Lloyd’s underwriter also announced it has acquired Lloyd’s limited liability member Nameco (No 346) for £3.75m. Helios said the deal was in line with its strategy of increasing underwriting capacity through acquisition. The ...
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NewsEx-Zurich CEO Senn commits suicide
Martin Senn, former chief executive of Zurich Insurance Group, has killed himself, the company said. Senn stepped aside from the top spot at Zurich in December following problems with the company’s general insurance business and its failure to take over RSA. In February, Zurich reported larger ...
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Online onlyRoads minister: Driverless car threat 'pie in the sky'
The idea of driverless cars making motor insurance unnecessary is “a lot of pie in the sky”, according to roads minister Andrew Jones. But he added that the advent of the driverless car would mean changes in the insurance industry. Speaking in Milton Keynes, where he ...
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NewsBlanc vows to keep AXA’s momentum in her new role
AXA’s Amanda Blanc is keen to ensure that the insurer keeps up its pace of development when she takes over as UK and Ireland group chief executive. Blanc, currently UK and Ireland general chief executive, will take over as head of AXA UK and Ireland as ...
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Online only'Fundamentally dishonest' kick boxer KO'd by judge in court
A kick boxer has been ordered to pay £4,000 costs to esure after a public video uncovered the fraud to have falsely claimed the injuries sustained in the ring were received in a previous car accident. Dawid Masel, of Weston-Super-Mare, claimed that he was jolted on ...
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AgendaBroker appetite for cyber could be cut by Insurance Act demands
The demands of the Insurance Act could result in non-specialist brokers steering away from selling cyber products, according to Biba. Speaking at the Insurance Times Cyber Charter, Biba corporate affairs manager Andy Thornley said that because the cyber insurance market was still in its infancy, brokers ...
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NewsJobs at risk as Towergate closes Milton Keynes retail function
Towergate is transferring the retail business handled by its Milton Keynes operation to other offices, putting jobs at risk, Insurance Times can reveal. The broking group confirmed that it was consulting with staff about possible redundancies in Milton Keynes but declined to say how many jobs ...
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NewsBroker Ropner hires six following GRP backed-MBO
Lloyd’s and London Market broker, Ropner Insurance Services, has appointed six new brokers following its Global Risk Partners-backed management buyout last year. Gary Watson and Stewart Alliston have joined the international non-marine division. Nick Kirby has joined the Fine Art team from JLT. ...
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Online onlyAmanda Blanc takes over from Evans as AXA domestic boss
Amanda Blanc has taken over from Paul Evans as AXA UK and Ireland boss. Evans will join AXA’s group management committee, paving the way for Blanc to slip into his shoes. The change means Blanc, who was running general insurance for UK and Ireland, will ...
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Online onlyPet owners hit with £232m vet bill amid 37% claims rejected - report
Nearly four in ten pet claims are rejcted landing UK animal lovers with a collective £232m bill that they have to dig out from their own pockets, according to a report from money.co.uk. The rejection rate of 37 per cent is far higher than for motor ...
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Online onlyBiba victory as MoJ agrees tough action on insurance fraud
Biba scored a major victory yesterday as the Ministry of Justice agreed tough new plans to crack down on the scourge of insurance fraud. The decision is also welcome news to the Carpenters Law-backed Insurance Times Fraud Charter, which has raised the profile of the industry’s ...
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NewsAppeal court rules no proof of fraud needed to dismiss a claim
An appeal court ruling has confirmed that trial judges don’t have to confirm that fraud has taken place in order to dismiss a claim. Two claimants seeking over £25,000 in damages had their claim dismissed today by the Court of Appeal as they failed to prove ...
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Agenda'Crash for cash' duo caught in the act
Two men have been sentenced after they were spotted by a member of the public staging a car crash in Keighley, West Yorkshire. Luke Gaughan and Sam Borbely, both 25, staged the crash in the early hours of 15 November 2014 near Keighley. Borbely parked his ...
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NewsEx-Quindell unit Hubio teams up with Indian carmaker Mahindra
Hubio, the usage based insurance technology company owned by Watchstone Group – formerly Quindell – has teamed up with Indian carmaker Mahindra to offer telematics-based insurance services. Coinciding with the UK launch of Mahindra’s new e2o all-electric urban runabout (pictured) in the UK, the Indian company’s ...
