Folgate purchase
The Folgate Partnership has announced the acquisition of Berkshire-based Pallett and Collins Insurance Brokers. Under the deal Pallett and Collins will retain its current staff along with managing director Tony Collins.
The broker places over £4m in gross written premium each year — mainly in commercial insurance.
KGJ buys Hallam
Commercial broker KGJ Insurance Group has acquired Wolverhampton broker Hallam Green. The Bilston-based broker said the move forms part of a series of planned acquisitions. The acquisition raises the commercial insurer's premium income to £15m and staff numbers to 30.
Biba loss adjusting
Biba has launched a new claims management service called Loss Recovery Insurance. The new service enables Biba members to offer clients access to a network of independent loss adjusters to assist them with claims costs.
Builders incentive
Builders could lop 20% off their liability premium, under a new government plan. The scheme is aimed at increasing the popularity of its Quality Mark scheme, which in turn would earn builders discounts. Builders who join the Quality Mark scheme would be vetted on their health and safety record and the quality of their work.
Travel action urged
Direct Line has urged the government to regulate insurance sales by travel agents and tour operators. In its response to the government's consultation paper on insurance intermediaries, Direct Line said the FSA should adopt rules to protect consumers from being sold inappropriate travel insurance.
S&P asbestos plan
Ratings agency Standard & Poor's (S&P) has announced it will meet insurers with "significant" asbestos exposures. The meetings are planned to review the industry's asbestos reserving strategies.
