All Insurance Times articles in On-Line Archive – Page 1911
-
NewsCII urges industry to tackle lack of SME reputational cover
The CII is urging the industry to plug the gap in reputational risk cover for small-to-medium-sized enterprises (SMEs) in a new report. The report, by the CII insurance broking faculty’s New Generation group, details the growing threat of reputation damage being driven by advancements in social ...
-
NewsTracey McDermott to leave FCA in July
FCA acting chief executive Tracey McDermott is leaving the regulator on 1 July. The announcement today follows the appointment of Sam Woods as the new PRA boss. As a result Andrew Bailey will now leave his role as PRA head to join the FCA. Earlier this ...
-
NewsBeazley completes return of its head office to the UK
Beazley has completed the transfer of its head office to the UK from Ireland. The Lloyd’s insurer announced plans for the move in its 2015 results in February. A new UK-domiciled company, called New Beazley, is now the holding company for the group. The completion of ...
-
NewsCyber cover may be worthless if employees hack data
Cyber insurance policies may be worthless if company data is hacked by disgruntled employees, according to lawyers. Unless the policy specifically covers employee actions, insurers may decide not to pay out on claims, according to Manoj Vaghela of law firm Pinsent Masons. “In the absence of ...
-
NewsLobby group: Insurers ‘hoodwinked’ government on whiplash reforms
Lobby group Access to Justice (A2J) has launched a campaign attacking the government’s planned whiplash reforms. The group, made up mainly of personal injury law firms, argues that insurers deliberately misled the government over the need for the reforms. It also contends that the plans will ...
-
NewsRSA-owned insurer overcharged 8,000 motor customers
RSA-owned Irish personal lines insurer 123.ie is refunding 8,000 motor insurance customers that it had overcharged over a period of two years. The insurer, which RSA bought in July 2010, said it started refunding customers last week and expects to complete the process at the end ...
-
NewsAllianz puts 170 jobs at risk as it plots direct home and motor exit
Allianz UK is planning to withdraw from direct home and motor and as a result, is putting 170 jobs at risk. Roles in Allianz’s Bristol and Guildford offices will be affected by the proposal and a period of consultation has begun with the Union on the ...
-
NewsBriefing: How did Allianz get it so wrong in direct home and motor?
This is a shock development in UK insurance. Allianz, which built a rock solid reputation on consistency and prudence, is pulling out of all direct home and motor. Personal lines head Neil Brettell is gone amid 170 likely job losses. This prompts the simple question: how did ...
-
NewsABI: lawyer lobby group ‘simply wrong’ on whiplash reform
ABI general insurance policy director James Dalton has hit back at lawyer lobby group Access to Justice (A2J)’s criticism of proposed government whiplash reforms, calling the group’s position “simply wrong”. A2J launched its campaign against the proposed personal injury reforms yesterday, and chairman Martin Coyne claimed ...
-
NewsAnalysis: Insurers come together for micro insurance market
Asking traditional competitors to work together presented teething problems at first, but now the Blue Marble Microinsurance consortium of eight insurers is in a position to tackle the market’s bigger issues, writes sister publication Global Reinsurance
-
NewsGallagher puts graduate scheme on hold
Arthur J Gallagher has put its graduate recruitment scheme on hold following a review which found that graduates on a formal programme were less likely to remain long-term with the company where they received their initial training. The broker said that as a result of changes ...
-
NewsBrokers rally behind Allianz despite home and motor blow
Allianz’s planned exit from direct home and motor business could give brokers a greater opportunity to show their worth to the company. While sympathising with the 170 Allianz staff that could lose their jobs over the move, some broker bosses said that brokers may be able ...
-
NewsLV= group boss Rogers steps down
LV= group chief executive Mike Rogers will step down. Rogers, who spent 10 years at the helm, led the closure of the banking operation in 2007 and the IFA in 2008. He also led the acquistion of Highway in 2008. Rogers said: “It’s ...
-
NewsDirect home and motor exit to punch £84m hole in Allianz GWP
Allianz UK’s planned exit from direct home and motor business will punch a £84m hole in the insurer’s gross written premium (GWP), according to chief executive Jon Dye. Speaking to journalists this morning about the planned change, which will put 170 jobs at risk, Dye also ...
-
Online onlyEcclesiastical renews charity scheme and appeals for more brokers
Ecclesiastical is keen to strike more scheme partnerhsips withi brokers after its latest successful partnership. Ecclesiastical and Watson Laurie will provide an office risk scheme for the Carers Trust, the UK’s largest carers’ charity. The scheme provides the charity’s 160 network partners with coverage on important parts of ...
-
NewsMan sentenced for submitting false injury claims to Allianz
A Southend factory worker has been sentenced for submitting three false personal injury claims to Allianz. Julius Sodipo, 34, from Shoeburyness was handed a 12-month community order and was ordered to carry out 80 hours of unpaid work and pay costs of £145 in costs at ...
-
NewsCourt victory for insurer in £236,724 Ferrari credit hire dispute
A businessman has lost his legal battle to force Direct Line Group (DLG) to pay £236,724 for the hire of two Ferraris following a car accident. Earlier this month, a judge at Darlington County Court upheld an earlier ruling which meant that DLG did not need ...
-
News'Whiplash' footballer given suspended sentence
A semi-professional footballer who was caught tweeting about playing football 24 hours after making a dishonest insurance claim for whiplash admitted contempt of court. Gary Burnett, 24, made the claim following an accident at a McDonald’s drive-thru restaurant in Birkenhead, Merseyside, in October 2013. He claimed ...
-
NewsBiba sets up new standards committee
Biba and the Insurance Brokers’ Standards Council have set up a new standards committee. Biba chief executive Steve White said the BIBA Insurance Brokers’ Standards Committee will be headed by Paul Anscombe (pictured), chief executive of Seventeen Group and chair of the Insurance Brokers’ Standards Council. ...
-
NewsConnected cars vulnerable to hackers 'for a decade'
Connected cars will be vulnerable to hackers for a decade, according to leading tech security expert Eugene Kaspersky. Founder of Kaspersky Lab, the former Soviet intelligence officer told the Financial Times that today’s connected cars are “more safe but less secure”, because of their networked safety ...
