All Insurance Times articles in On-Line Archive – Page 1917
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NewsABI welcomes minister’s pledge to push ahead with claims reforms
The ABI has welcomed justice minister Lord Faulks’s pledge to push ahead with the government’s proposed whiplash reforms. But Faulks’s comments have sparked anger from claimant lawyer lobby group Access to Justice (A2J). At the Association of Personal Injury Lawyers (APIL) annual conference yesterday, Faulks said ...
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NewsGallagher unit gets foothold in UK motor with Gibraltar buy
Arthur J Gallagher-owned consultancy Artex Risk Solutions has bought Gibraltar-based insurance management firm Quest Holdings (Gibraltar). Artex said the acquisition expands its foothold in the European insurance market and gives it particular expertise in the UK motor market. Gibraltar-based insurers play a key role in the UK ...
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NewsHester: RSA needed to change to survive
Recent changes at RSA may have been difficult for staff, but they are necessary to avoid a more painful outcome, according to group chief executive Stephen Hester. Speaking to Insurance Times following the release of RSA’s first quarter results this morning, Hester also said that he ...
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NewsMarkerstudy ends capacity deal with Brightside
Markerstudy has ended its capacity agreement with Brightside. The insurer is one of Brightside’s major capacity providers alongside Ageas. Markerstudy and Brightside have declined to comment. Last October Insurance Times revealed the scale of Brightside’s troubles as executive chairman Mark Cliff vowed to fix the problems ...
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Online onlyUK commercial lines market shrinks 19% in 2015
The main players in the UK’s commercial lines market had their premium shrink by a massive 19% last year, according to Insurance Times analysis of PRA Returns. The collective premium of Aviva, RSA, Allianz, AXA, Ageas, Direct Line Group and LV= fell from £5.5bn to ...
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Online onlyAXA and Ageas only insurers to make 2015 underwriting profits
AXA and Ageas were the only two carriers to make an underwriting profit in commerical lines in 2015. That is the results from a study of the PRA Returns of Aviva, RSA, Allianz, AXA, Ageas, DLG and LV=. Their collective premium fell a massive 19% ...
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NewsHester buys £479,850-worth of RSA shares after results announcement
RSA chief executive Stephen Hester has placed a huge bet on the success of his strategy for the business, buying £479,850 worth of shares in the insurer. He bought the shares yesterday after the release of RSA’s first quarter results that showed RSA’s UK and Ireland ...
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NewsExpert View: Integrated commercial e-trading has arrived
Polaris sales and marketing manager Phil Nunn on why the company’s e-commerce portal is at a tipping point
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NewsExpert View: New EU data protection regulation set to expand the cyber insurance market
With companies facing increased obligations and high potential penalties, will they turn to cyber insurers for help? NIG director of underwriting and pricing Justin Clarke looks at the possible consequences for the insurance business
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NewsARO signs property owners’ deal with Broker Direct
ARO Underwriting has signed a property owners’ distribution deal with fellow underwriting agency Broker Direct. The deal will allow ARO to distribute its residential and commercial property owners’ products through Broker Direct’s 750 broker members. The brokers now have access to ARO’s recently launched quote-and-buy system. ...
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NewsCMC regulator raids two claims firms and fines third
The Ministry of Justice’s Claims Management Regulation Unit (CMRU) has raided two claims management firms and fined a third £315,000. CMRU investigators teamed up with the police to raid two firms – one in Swansea and one in Birmingham – that it said were suspected of ...
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NewsWillis GB profit and revenues fall in first quarter
Willis Towers Watson’s UK broking division Willis GB made an operating profit of $20m (£13.8m) in the first quarter of 2016, down 4.8% on the $21m it made in last year’s first quarter. The division, which comprises Willis’s UK retail broking and London market speciality business, ...
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NewsCPP hires new chief executive after boardroom coup
Credit card insurer CPP has hired Jason Walsh as its new chief executive to replace Stephen Callaghan, who has left following a boardroom coup by asset management firm Schroders. The move marks a return to CPP for Walsh. He worked for CPP between 2002 and 2014, ...
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NewsAXA unveils broker tool to tackle underinsurance in mid-market
AXA has launched an online tool to help brokers calculate the business interruption risk for individual commercial clients. Tool will help firm tackled underinsurance in mid-market AXA BI calculator is web-based tool that assesses a businesses’ BI exposure Tool intended to support prompt claim settlement The ...
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NewsTowergate staff in £30m incentive scheme deal
Towergate has entered its staff into an incentive scheme worth more than £30m. One part of the scheme is worth £30.4m and Towergate has already made two payments to staff, with a final tranche due later this year, The Telegraph reports. Under Towergate’s old reward scheme ...
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NewsBroker Network extends partnership with RSA
Broker Network has signed a new three-year deal with insurer RSA, extending the two firms’ current partnership. Under the new deal, RSA will offer exclusive personal lines products to Broker Network members, in addition to new commercial lines products. The first launch under the new deal ...
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NewsAsh Bathia’s Lloyd’s insurer hires casualty underwriting head
Ash Bathia’s Lloyd’s syndicate, Probitas 1492, has hired Neila Buurman as chief underwriting officer for its casualty division. Buurman was previously director of international casualty at QBE, Bathia’s former employer. She joined QBE in 2000 as an international liability underwriter. Bathia was chief underwriting officer of ...
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NewsRSA claims handler jailed for £55,000 fraud
A former RSA employee has been jailed for 10 months for illegally passing on customer details to a law firm and adding friends and family to genuine claims in a £55,000 fraud. Anthony Francis Joseph Rattigan, 30, an insurance claim handler from Liverpool was convicted of ...
