Danny Walkinshaw looks at the latest insurance stories online
There was plenty to keep web fanatics entertained over the last week as the latest insurance industry news sent online readers into a clicking frenzy.
Insurancetimes.co.uk subscribers went crazy as the story ‘Broker handed FSA ban’ landed in their inbox moments after it was announced by the FSA. Thousands went online to read first-hand how insurance broker Graham Darby, director of Ambrose Darby, was on the receiving end of the regulator’s tough-love regime for “failing to control the business of the firm adequately”.
Also striking a chord with online readers was news that rating agency A.M. Best was to discontinue its public data ratings of 42 UK insurers. The agency is to give closer attention to its interactive ratings, meaning the likes of AXA, Fortis and Direct Line will lose out.
Other popular stories included the imminent end to aggregator Insurancewide.co.uk over the costs of its VAT battle against Revenue & Customs. Insurance Times’s interview with the five former RBSI bosses who are now heading up the LV= general insurance arm, in ‘To Affinity and beyond’, was also well read.
Elsewhere on the web, a spike in RSA’s share price resulted in a number of online reports that Italian insurance giant Generali had made an offer for the company. This was flatly denied. The ABI also made headlines with its latest report on fraudulent general insurance claims rising 24% to £1.9bn in two years.
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Online top five:
Broker handed FSA ban
Lancashire broker banned for inadequate control of his firm and loses business
AM Best withdraws ratings from UK insurers
Axa, Fortis, LV and Sterling are on a list of more than 40 insurers
VAT case kills Insurancewide
Five-year battle and HMRC’s refusal to pay costs blamed
To Affinity and beyond
After leaving RBSI and taking many staff with them, the founders of Affinity B2C have been picked up by LV=, taken over Highway and now have a top five motor slot in their sights.
Kwik-Fit to buy up brokers
“Deep pockets” to fund doubling of motor policyholders