Latest News – Page 761
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NewsClaims finalists on why the industry needs to up its game
Claims have always been important to the insurance industry: they are the measure by which customers value the product they have bought. But the industry’s efforts to improve claims outcomes for all involved have kicked up a gear in recent years, with more innovation than ever ...
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NewsCo-op GI aims to connect to Flood Re by third quarter
Co-op’s general insurance (GI) business aims to connect to Flood Re by early in the third quarter this year, according to products, pricing and propositions director James Hillon. He also did not rule out the insurer selling its book of run-off business after its transformation plan is ...
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NewsEx European regulator chief joins PwC's insurance advisory team
PwC said it has appointed former top European regulator Carlos Montalvo Rebuelta (pictured) to its global insurance regulatory practice. Based in Spain, Montalvo will support the corporate services group’s European and global clients in managing their regulatory challenges. Montalvo was previously executive director at the European ...
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NewsCo-op GI crashes to £66.1m loss and 108.7% COR in 2015
Co-op’s general insurance (GI) business made a £66.1m loss before tax in 2015, compared with a loss of £6.8m the previous year. The insurer’s combined ratio (COR) increased by 3.4 percentage points to 108.7% (2014: 105.3%). Key points Profit hit by £47.4m transformation costs ...
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NewsMGA focused on 'minimising' loss ratio to launch with £30m capacity
The chief executive of a claims management firm is planning to launch a new managing general agency (MGA) which will specialise in van and commercial vehicles and will have a focus on “minimising loss ratio to maximise profit”. Pukka Insure, led by Sam White, has secured ...
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NewsBrightside bowls in with 5-year cricket sponsorship deal
Brightside has signed a five-year cricket shirt deal as it aims to become one of the country’s top insurance brokers. The deal with Gloucestershire County Cricket Club (CCC) will see its home, Bristol County Ground, rebranded to Brightside Ground, Bristol. What is the Brightside cricket ...
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NewsAllianz doubles excess liability capacity to £50m per class
Allianz Commercial has boosted its excess-of-loss capacity, which will allow brokers to access excess liability cover of up to £50m per individual class of business for clients. The previous limit was £25m. Allianz said the move supports its ambition to grow its liability portfolio. The insurer ...
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NewsAdvertising watchdog raps Ageas Retail over ‘misleading’ mail ad
The Advertising Standards Authority (ASA) has upheld a complaint from a customer about a marketing mail sent by Ageas Retail brand RIAS. Ageas Retail is the broking and affinity division of insurer Ageas UK. It includes over 50s brands RIAS and Castle Cover. The person complained ...
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NewsWunelli’s Penny Searles launches telematics and insurance service
Penny Searles, co-founder and former managing director of telematics firm Wunelli, has launched a connected car service for used cars, which includes an insurance offering. Searles left Wunelli in May 2015. The new service, Smartdriverclub, is telematics based. Members are sent a device called the Smartplug ...
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NewsFCA reviewing GI broker professional indemnity cover
The FCA is reviewing the professional indemnity (PI) insurance protection that general insurance brokers buy to cover the cost of negligence claims made against them by clients. The study is running alongside a separate piece of work the FCA is doing on PI cover for independent ...
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NewsThomas Carroll buys commercial broker Monmouthshire
Broking and advisory group Thomas Carroll has bought commercial insurance broker Monmouthshire Insurance Services (MIS) for an undisclosed sum. MIS, a subsidiary of Monmouthshire Building Society Group, sells a range of commercial insurance products, including shop, office, restaurant and vehicle and fleet cover. MIS’s Tracey George ...
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NewsFCA launches regional general insurance events for smaller firms
The FCA is planning to roll out programme of regional events called Live & Local for smaller firms this year. The events programme will focus on three main sectors: investments, mortgages and general insurance. The roll-out follows a successful pilot in 2015, the regulator said in ...
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NewsFCA levy on insurers and brokers to decrease in 2016/17
Funds cover cost of FCA’s regulatory activities
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NewsLondon broker sentenced for commission fraud
Bandagu Manzeke faces jail for selling fake insurance policies following IFED investigation
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Online onlyApril 2016 issue
Read a digital version of the April 2016 edition of Insurance Times. Cover story: How the internet is killing off the high street broker; Towergate’s future clarifies; Unrated Gable battles to build broker trust; McKenzie Friends – the new cash cow for CMCs?; Insurers are learning on claims, says ABI; ...
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NewsAXA saves nearly £400,000 defending three motor fraud cases
Court cases unveiled staged accidents, exaggerated costs and phantom injuries
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NewsAA insurance profits, revenue hit by greater churn in motor
Insurance sees fall in revenue and profit for year to January
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NewsAXA's flood-risk homeowners encouraged to switch to Flood Re cover
AXA Direct customers will be able to secure Flood Re-backed insurance from 20 April
