Latest News – Page 732
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Online onlyToo rude to insure: Hastings 'computer says no' to offensive pub name
A landlady of a pub was left ‘stunned’ after being refused insurance by Hastings Direct – because her pub is called ‘The Cock Inn’. Landlady Deborah Davis sent an application for her family-run pub in Brent Eleigh, which included an email and her address. But Hastings’ IT filters rejected the ...
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Online onlyAviva shrinks brokered private motor amid 22% rate hike
Aviva has shrunk its brokered private motor book after increasing rates 22% in the last 12 months. Global general insurance chairman Maurice Tulloch told investors: “In the last 12 months in the broker motor book I have put through close to 22% rate. “I have had ...
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Online onlyBlog: Why insurers can capitalise on CMA bank crackdown
By Gerald McLarnon, consultant and former Swinton commercial/marketing director The Competition and Markets Authority (CMA) has its eyes on more than the private motor insurance market. Recently, it published its provisional decision on remedies for the current account market. The remedies aim to increase account ...
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NewsFormer Oval boss backs new broking group with national ambitions
The family trust of former Oval chief executive Philip Hodson has invested in a new broking group that is aiming to build a national presence through acquisition and hires. Investors in the new group, UKGlobal Holdings, also include Richard Hodson, formerly director of technology insurance at ...
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NewsAllianz makes four promotions to strengthen technical division
Allianz Insurance has made four senior management appointments to its newly formed Technical division, led by chief underwriting officer, Neil Clutterbuck. Catherine Dixon will take on the role of director of underwriting & technical, commercial lines. She has been promoted from her previous position as head of property and casualty. ...
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NewsUse of big data risks making some people uninsurable - CII
The increasingly sophisticated use of data could create an “underclass” of people who cannot afford insurance, a report from the Chartered Institute of Insurance (CII) has warned. And as a result consumers could miss out on some types of cover altogether if insurers deemed them too ...
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NewsLockton moves to bigger Scottish office to boost staff numbers
Lockton is moving to bigger offices in Glasgow as it makes plans to increase its staff headcount to 40 from 15. Lockton partner and head of corporate, Gordon Duncan, said: “Lockton is investing £250,000 in the move to the new 4,500 sq ft office, which will ...
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NewsPen Underwriting creates cyber lead role as it plots to expand offering
Pen Underwriting has appointed Adrian Scott to the newly created role of head of cyber liability. In his new role Scott will be responsible for developing Pen Underwriting’s capabilities in cyber risk management and insurance. He joins Pen from Ridge Global, a cybersecurity firm founded and ...
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NewsSupreme Court ruling is setback in fight against fraudulent claims - ABI
The ABI has warned that a Supreme Court decision which ruled that insurers can no longer avoid paying a claim if there are so-called collateral lies in the claim will push up the cost of insurance. Earlier today judges voted four to one to change the ...
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NewsMarsh hires Carlisle and Newcastle branch manager from Aon
Marsh has hired Chris Milnes to head up its Carlisle and Newcastle offices. Milnes joins Marsh from Aon in Dubai where he led the corporate sales team and was responsible for the new business development across the Middle East. In his new role, Milnes will be ...
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NewsSupreme Court: Insurers cannot avoid claims over 'collateral lies'
Insurers can no longer avoid paying a claim if there are so-called collateral lies in the claim, the Supreme Court has ruled today. A collateral lie is one that does not affect the validity of the claim. The Supreme Court judges voted four to one to ...
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NewsFCA to publish proposed new mission statement in autumn
The FCA is planning to publish proposal for a new mission statement in early autumn. It will invite “intensive public consultation” on the new mission, which is designed to provide greater clarity to consumers and companies about the regulator’s obligations to them. The FCA believes it ...
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NewsFCA’s Bailey: Brexit will not trigger regulatory ‘bonfire’
The UK’s exit from the European Union will not necessarily mean a big clear-out of EU-derived legislation, new FCA chief executive Andrew Bailey said. Responding to a question about the potential for deregulation post-Brexit at the FCA’s annual public meeting yesterday, Bailey said: “It is important ...
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NewsInsurers unprepared for driverless vehicles - KPMG
Insurers are unprepared for the arrival of driverless vehicles, a new study from KPMG says. The Autonomous Vehicle Insurer report found that many of the UK’s largest insurance companies agreed that driverless vehicles would touch every area of their business model. Key points: But ...
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NewsAccountant faces jail after stealing £24,000 from Biba
An accountant has pleaded guilty to stealing more than £24,000 from Biba, and could face jail. Gurmukh Singh Shehri, 32, signed cheques to himself and paid himself unauthorised bonuses while employed as Biba’s finance manager. He paid himself £11,000 in unapproved bonuses and wrote £13,198 in ...
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NewsAXA creates new role as part of claims transformation programme
AXA Insurance has appointed Kim Pearce to the newly created role of claims customer services director as part of its ongoing Claims Transformation Programme. Pearce joins from Allianz where she was head of organisational management. In her new role Pearce will be responsible for the operational ...
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NewsCharles Taylor licenses insurance platform to boost client service
Charles Taylor InsureTech, the insurance technology arm of insurance services firm Charles Taylor, has licenced software provider Fadata’s INSIS platform to extend its systems capability for life, general and health insurance clients. INSIS is a flexible insurance platform that provides coverage such as underwriting, premium collection, ...
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NewsHood appoints finance director
Affinity insurance broker Hood Group has appointed Mark Hunter as finance director following the retirement of Bob Gildie. Hunter (pictured) will join from Charles Taylor Adjusting where he served as development director for two years. He has nearly 30 years’ experience from Airclaims Group where he ...
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NewsTokio Marine Kiln launches online platform for specialist business lines
Lloyd’s insurer Tokio Marine Kiln (TMK) has launched a web-based platform to give brokers access to specialist business lines that have traditionally been difficult and uneconomic to reach. The One TMK is a digital exchange for brokers to quote and bind policies online in real time. ...
