All Online only articles – Page 48
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Online onlySwiss Re slumps to underwriting loss as cat claims bite
New chief executive explains why world’s largest reinsurer had challenges in second quarter results
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Online onlyGallagher boss sees good market for growth as profits rise 5%
Gallagher chairman explains why broker is in a good position amid solid second quarter results
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Online onlyBriefing: AR scandal - a dark day that will change UK insurance forever
Briefing by editor Saxon East
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Online onlyFSCS in talks with Enterprise's regulator over customer impact
The Financial Services Compensation Scheme (FSCS) is in discussions with the Gibraltar Financial Services Commission (FSC) over what the failure of Enterprise Insurance means for UK policyholders. The FSCS has also said it expects to work Enterprise’s provisional liquidator once one has been appointed. Last Friday ...
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Online onlyAR scandal: Millions of customers could get insurance compensation
Millions of customers could be in line for compensation after the FCA’s probe into appointed representatives found widespread mis-selling, according to latest reports. The biggest offenders are likely to be shops and retailers selling warranty insurance, especially on electronic goods, with up to three million ...
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Online onlyAR scandal: FCA document reveals full catalogue of horrors
Insurance salesman targeted ‘potentially vulnerable’ customers as they sought to maximise profits, the FCA probe into ARs states. The targeting of potentially vulnerable people is just one among a catalogue of horrors found by the regulator and could now result in the biggest industry customer compensation ...
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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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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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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 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 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 onlyBriefing: Three reasons why Brexit means higher motor premiums
On that cold wet day in June, when voters made their way to the ballot box on the future of the UK in Europe, one of the last things on their minds would have been how the outcome of the referendum would impact on the cost ...
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Online onlyEndurance reveals loss estimates from string of natural disasters
Endurance today revealed it had estimated losses of $55.5m from a string of natural disasters. The second quarter hit would be due to the Fort McMurray wildfires in Canada, the convective storms in Texas and Europe and the Kumamoto earthquake in Japan which collectively generated ...
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Online onlyBrightside owner latest to warn about damage of Brexit
The chief executive of Anacap, the Brightside owner, said he may need to relocate his staff because of Brexit. Joe Giannamore, chief executive of UK-based fund AnaCap, told Reuters that if the British market diminished in the long-term then it could move out some of ...
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Online onlyBrexit risks thousands of London insurance jobs
Up to 80,000 jobs in London’s financial services industry could be relocated because of Brexit, according to Boston Consulting Group. And a signficant chunk of those jobs being moved will be insurance, the consultancy says. The doomsday prediction comes after BCG surveyed the financial servies sector ...
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Online onlyInsurance Times Awards 2016 open for entries
There are 27 awards up for grabs at the UKGI’s most prestigious event!
