All Insurance Times articles in On-Line Archive – Page 1940
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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 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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NewsAnalysis: Cost cutting hits motor claims satisfaction scores
Cost cutting is taking its toll on claims satisfaction as motor insurers fight to stay afloat in a highly competitive market. That’s the latest findings of research from Consumer Intelligence, published exclusively by Insurance Times, that revealed the industry’s claims satisfaction score has fallen to 8.1 ...
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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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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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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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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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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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NewsInside the world of insurance
Insurance stories from around the globe Moving or cancelling the Rio Olympics because of the Zika virus could cost insurers $1bn in potential claims, according to Munich Re. Most of that coverage is being provided by several large reinsurers including Munich Re, Swiss Re, and Hannover ...
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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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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 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 onlyBeazley posts $150m profits and reveals fierce pricing competition
Lloyd’s insurer Beazley was first out the blocks for the half-year results season, posting solid profits of $150.2m (2014 h1: $154m) amid fierce pricing competition. Boss Andrew Horton said rates had fallen 2% overall with the biggest fallers being 15% in energy business, 4% in reinsurance, ...
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NewsFCA issues two S166 reviews against brokers over 'AR mis-selling'
The FCA has taken action against five firms, including issuing two Section 116 skilled person reviews, as a result of its probe into appointed representatives. At the appointed representatives of one principal firm there was significant evidence of mis-selling leading to actual customer detriment, the regulator ...
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NewsFCA slams brokers over lax AR controls
The FCA has slammed brokers for having poor oversight over their appointed representatives. In its thematic review released today, the FCA found significant shortcomings in the control and oversight of appointed representatives by their principal firms in the general insurance sector in a thematic review published ...
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Online onlyFCA urged to get even tougher on brokers over unruly AR controls
The FCA has been told it needs to get even tougher on brokers - even in the aftermath of today’s crackdown on broker controls of appointed representatives. The FCA today released the findings and orders for brokers to clean up their act when it comes ...
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News'If FCA AR probe drives up quality it is a good thing' - TEn network boss
TEn network boss James Sharp says that FCA review into appointed representatives (ARs) will weed out the good firms from the bad ones. He welcomed the findings of the review, but added that in the short term it could cause insurers to form a negative view ...
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NewsExpert view: A fresh approach to risk
David Martin, director SME and corporate partnerships at Allianz looks at solutions to the SME underinsurance problem
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NewsExpert view: Innovation vital to find and keep top talent
David Carr, managing director general insurance senior appointments at recruitment specialists IDEX Consulting, looks at current trends in insurance recruitment
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NewsExpert view: Technology - Make the change, bite the bullet
Michael Lawrence, personal lines director LV= broker, looks at using technology for growth.
