AIIB EGM vote
The Association of Intermediaries and Insurance Brokers (AIIB) has set a date for its EGM to discuss its proposed merger with the British Insurance Brokers' Association (Biba).

AIIB EGM vote
The Association of Intermediaries and Insurance Brokers (AIIB) has set a date for its EGM to discuss its proposed merger with the British Insurance Brokers' Association (Biba).

The meeting will take place on 12 March at 2.30pm at the AIIB's offices in Purley.

The AIIB's 400 members will be asked to vote on whether it should merge with Biba in April. The two groups announced last month that merger talks had taken place for some months, which will allow a united front in the regulatory discussions with the Financial Services Authority (FSA). Both parties are confident the merger will go ahead.

Fleets self-insured
Premium hikes are forcing larger motor fleets towards self-insurance, according to bodyshop network ABS, which has been approached by many companies to provide repair services.

The move to self-insurance requires the fleet to take responsibility for a range of functions that would previously have been handled by the insurer.

ABS network director, Alan Hodgkinson said: "The motor insurance market has been hardening and, in these conditions, many large fleets look carefully at self-insurance. It makes financial sense, especially if you have suffered a poor accident rate."

Heathrow heist
Transportation specialists Via Mat and Travelex are likely to bear the insurance brunt of the £4.6m heist at Heathrow airport, according to an industry source.

The companies are believed to have had overall responsibility for transfer of the money from Bahrain to New York.

The money, in various denominations, was stolen by two men from the back of a BA security van moments after it had been unloaded.

Via Mat and Travelex will be covered under standard cash in transit and all risk physical loss and/or damage policies. They are believed to have been broked by Willis for Via Mat and by Aon for Travelex.

Both Willis and Aon declined to comment.

Topics