Bradstock, the reinsurance broker that faced administration as a result of a deficit in its pension scheme, lost £534,000 in the six months to the end of March.
In the same p ...
Bradstock loss
Bradstock, the reinsurance broker that faced administration as a result of a deficit in its pension scheme, lost £534,000 in the six months to the end of March.
In the same period last year the company made a profit of £651,000.
Troika extended
As predicted by Insurance Times last week, the government has agreed to extend the Troika aviation cover scheme until
29 August with modified conditions. The scheme was due to finish on 30 June.
Those purchasing cover will be expected to buy the first $150m (£100m) of cover commercially. The government has indicated that premiums will rise.
New IT systems
Regional brokers Bland Bankart and Smart & Cook are both on track to go live with the new Acturis broking system on 1 July.
The two companies, which are currently using systems from MCS, will become the first Acturis users. Two other regional brokers, The Beckett Group and Layton Blackham, intend to go live later in the year.
Self-pay up 150%
There has been a 150% rise in self-pay patients in the health market over the past five years and the trend shows no signs of slowing.
Peter Fermoy of the Independent Healthcare Association (IHA) said there were 250,000 self-funding individuals in 2001, compared with 100,000 in 1997.
PWC deal in peril
PricewaterhouseCoopers' (PWC) commission compromise deal was on a knife-edge on Tuesday, as brokers hesitated to commit one day before the deadline.
PWC insiders emphasised that, without support for the vast majority, the deal would not go ahead.
The broker group considering legal action against the deal also remained silent on the progress of the action.
