Industry News
Published: 15/05/2008
Mid Sussex Conservative MP Nicholas Soames has been banned from driving for two months for driving a quad bike on a public road without any vehicle insurance.Crawley magistrates' court fined the 60-ye...
Read More: MP banned following quad bike row >Published: 17/04/2008
Allianz Global Corporate & Specialty (AGCS) has set up a team of broker development and key account managers to strengthen ties with clients in the UK.The broker development team comprises Matt Br...
Read More: Allianz launches new team >Published: 11/04/2008
The insurance industry can respond effectively to the next major claim incident if all the elements work closely together.That is the message from Malcolm Edwards, president of the Chartered Institute...
Read More: Industry 'works better together' >Published: 10/04/2008
The Financial Ombudsman Service (FOS) must not stand in the way of better regulation, insurers have warned.Responding to the review of the FOS by Lord Hunt, the Association of British Insurers (ABI) s...
Read More: Ombudsman service 'should support better regulation' >Published: 09/04/2008
The increasing popularity of insurance-linked securitisation (ILS) could help bring down transaction costs.That is the view of Keith Boyfield, a consultant and author of Global Insurance and the Capit...
Read More: ILS to 'bring down' transaction costs >Published: 08/04/2008
Insurance brokers have been urged to remain vigilant for signs of money laundering.The Serious and Organised Crime Agency (SOCA) is keen to enlist the support of financial services professionals to ta...
Read More: Insurance brokers urged to remain vigilant >Published: 07/04/2008
Insurance brokers need to make adding value to the customer a top priority.That is the message from Insurancewide.com, a price comparison website.James Harrison, chief executive of Insurancewide.com, ...
Read More: Brokers 'should make added value a priority' >Published: 02/04/2008
Small firms are to be offered guidance on how to protect themselves against catastrophes.Natural disasters or man-made incidents such as terrorist attacks pose a risk to businesses of all sizes.Howeve...
Read More: Small firms offered help with disaster planning >Published: 02/04/2008
Insurers have called on the government to put a single body in charge of flooding.The British Insurance Brokers' Association (BIBA) said one organisation should be given responsibility for co-ordinati...
Read More: Insurers call for new flood body >Published: 27/03/2008
Financial services professionals in the north-west will get a chance to hone their customer-facing skills at a seminar at Old Trafford next month.The event, at the home of Manchester United Football C...
Read More: Guidance for financial services professionals >Published: 26/03/2008
Insurers have called on the government to push ahead with plans to reform personal injury claims.Ministers launched a consultation in the spring of last year and are now coming under pressure to put t...
Read More: Insurers step up pressure on personal injury >Published: 20/03/2008
Insurance brokers have given a cautious welcome to a consultation by the Financial Services Authority (FSA) on connected travel insurance.The consultation proposes extending the current regulation tha...
Read More: Cautious welcome for FSA consultation >Published: 20/03/2008
The Financial Services Authority (FSA) has extended its probe into the commercial insurance sector with the launch of a new discussion paper.The paper will examine a number of issues thrown up by an F...
Read More: Regulator continues commercial insurance probe >Published: 19/03/2008
The financial services regulator has announced a number of management changes.The move by the Financial Services Authority (FSA) comes in light of the departure of Retail Business Unit managing direct...
Read More: Regulator announces management shake-up >Published: 19/03/2008
The Federal Reserve yesterday slashed interest rates by three quarters of one per cent.The move by America's central bank takes its base rate to 2.25 per cent, a full three percentage points lower tha...
Read More: Fed slashes base rate >Published: 18/03/2008
Inflation hit 2.5 per cent in February, its highest level for nine months.Figures released by the Office of National Statistics (ONS) revealed that the consumer prices index (CPI) was up 0.3 per cent ...
Read More: Inflation hits 2.5 per cent >Published: 10/03/2008
Banks, credit card companies and insurance providers have been warned to be on the look out for fraudsters. The prevalence of application fraud increased by 24 per cent between 2004 and 2007, with the...
Read More: Financial services firms warned of fraud risk >Published: 06/03/2008
The Financial Services Authority (FSA) will have its performance reviewed. Financial services providers regulated by the FSA will get a chance to rate its performance over the last two years. Responde...
Read More: FSA up for review >Published: 04/03/2008
Motorcyclists have access to a new search tool to help them find the best insurance deal.More and more drivers are swapping their cars for motorbikes and scooters.Ditching four wheels for two has a nu...
Read More: New search tool for motorcyclists >Published: 03/03/2008
The new money guidance scheme being proposed by the government should be across-the-board and not just targeted at low-income groups, says the Association of British Insurers (ABI).It was responding t...
Read More: Guidance should be across-the-board >Published: 03/03/2008
Insurance giant Allianz has announced plans to fast-track low-value personal injury claims.The move comes in anticipation of reforms to be announced by the Ministry of Justice (MoJ).As well as fast-tr...
Read More: Allianz on the fast track >Published: 29/02/2008
Tradex Insurance has hailed a black cab specialist in acquiring the business of Westminster Motor Insurance Association.Stephen Endean, chief executive officer of Tradex, told the Post magazine that h...
Read More: Tradex hails black cab specialist >Published: 28/02/2008
Two environmentally aware members of insurer Allianze's staff are on a mission.Kate Piggott and Paul Titley have won grants from environmental charity Earthwatch of up to £2,000 to fund expeditio...
Read More: Allianz staff on a mission >Published: 26/02/2008
An insurance manager has been sacked after being caught out working as children's magician 'Mr Hocus Pocus' while on paid sick leave.Peter Hopkins, 38, had been off work form his job with Legal and Ge...
Read More: 'Hocus Pocus' insurance manager sacked >Published: 26/02/2008
Broker Coversure has added to its branch franchise by opening up three new premises.The new branches in Chesterfield, Andover and Hertford will bring the total number of its sites up to 89.All the new...
Read More: Broker covers three more bases >Published: 22/02/2008
The majority of fire safety professionals are unclear about legislation introduced over a year ago.That is the worrying conclusion reached in a study carried out by the Fire Industry Association, whic...
Read More: Majority of fire experts unsure of rules >Published: 21/02/2008
Insurance giant Allianz Group shrugged off credit crunch worries to post an increase in its full-year profits for 2007 of 13.4 per cent. This owed much to the low level of catastrophe claims and 21 pe...
Read More: Allianz profits climb 13.5 per cent >Published: 20/02/2008
Scottish first minister Alec Salmond has performed the official opening ceremony at Central Insurance Service's gleaming new £3 million headquarters in Aberdeen. It follows a management buy-out (...
Read More: First minister performs >Published: 20/02/2008
Insurance giant Allianz has announced a new appointment to head up its learning and development department.Jost Wahlen, who was previously the director of workforce development at global railway engin...
Read More: New head of learning at Allianz >Published: 19/02/2008
Insurance giant Allianz has moved into the next phase of its campaign encouraging staff to reduce the environmental impact of the company.The 'Environmental Champions' programme hopes to improve the a...
Read More: Allianz reduces its environmental impact >Published: 19/02/2008
A shiver has gone round company boardrooms following the news that a pensions watchdog has recommended that firms should change the way they calculate their employees' retirement rights.The Pensions R...
Read More: Pension news sends shiver round boardrooms >Published: 19/02/2008
Insurance giant Standard Life had decided that airline stocks have no further part to play in its ethical funds.It has pulled the drawbridge up after a survey of its investors revealed that 30 per cen...
Read More: Not a Standard investment >Published: 19/02/2008
Leading global art insurance specialist AXA Art has reacted to the recent spate of art thefts by offering to help all museums in its key markets review their security arrangements.The two latest major...
Read More: AXA offers assistance >Published: 19/02/2008
Underwriters appear keen to take on board ideas thrown up by the reforming of Lloyd's market business processes, according to a report published today.The fourth Lloyds's underwriting survey, follows ...
Read More: Keen underwriters >Published: 15/02/2008
Lenders are not doing all they can to support mortgage-payers faced with repossession and instead are "piling on extra charges", according to the Citizens Advice Bureau (CAB).In a statement,...
Read More: Lenders 'piling on extra charges' >Published: 15/02/2008
Allianz Global Investors has loaded more on to its ethical investment bandwagon with the the launch of a new UK-based EcoTrend fund.It comes hard on the heels of the success of its Global EcoTrend fra...
Read More: Allianz goes green >Published: 14/02/2008
The government needs to get tougher when it comes to restricting new-home builds in low-lying flood-risk areas, according to the Association of British Insurers (ABI).It says that ministers need to ti...
Read More: Government need to get 'tougher' >Published: 12/02/2008
The ongoing debate between the insurance industry and the government regarding flood defence measures is set to enter another phase.Officials from the Association of British Insurers (ABI) are today s...
Read More: Flood debate to enter another phase >Published: 11/02/2008
Insurance broker WPS has decided to apply the science of insurance giant Allianz to its small business book.In the three-year sole provider deal just announced, Allianz will underwrite risks within it...
Read More: WPS applies the science of Allianz >Published: 08/02/2008
A broker who was banned from trading after being found to have sold policies which were not underwritten, is to cease trading.M Young Legal Associates (MYLA), run by Mr Young, otherwise known as Moham...
Read More: Broker to cease trading >Published: 08/02/2008
Insurance giant Aon has appointed Andrew Appel as chief executive of the reinsurance arm of its operation.He takes over after a spell at the helm of the consulting division of the firm.In addition to ...
Read More: Aon appoints Appel >Published: 07/02/2008
The Chinese zodiac could give some vital clues to the insurance industry as to who is more likely to put in a motor claim.That is the suggestion coming from online car insurer, elephant.co.uk, which h...
Read More: Chinese zodiac clue to driving ability >Published: 07/02/2008
Insurance intermediary Towergate has increased its power by buying up another firm of brokers.It has swallowed Kent-based Woodgate and Partners, a general commercial and financial services broker, whi...
Read More: More power for Tower' >Published: 07/02/2008
India is facing a potentially chronic shortage of suitably qualified insurance staff.Peter Dunphy, chief executive of recruitment consultants Darwin Rhodes Group, speaking at an Actuaries conference i...
Read More: India facing insurance staff shortage >Published: 07/02/2008
The Chartered Insurance Institute and insurer Scottish Widows are to link-up to produce a 'professionalism package'.The CII is setting up, in collaboration with the insurer, extensive learning materia...
Read More: CII and Scottish Widows link-up >Published: 07/02/2008
Insurance giant Legal & General's umbrella has just opened wider with the announcement that Nationwide Building Society is to sell its products.As part of the "strategic agreement", L&am...
Read More: L&G's umbrella getting bigger >Published: 07/02/2008
Customers of Engage Mutual are more willing to pay into their Child Trust Fund (CTF) by monthly direct debit because of lower minimum top-up levels of £5.That is the reason being cited by the ins...
Read More: Higher take-up for engage customers >Published: 05/02/2008
Paul Kurgo has quit Australian based insurer QBE to join Liberty International Underwriters (LIU).He will head up the commercial UK and Ireland part of the European organisation, focusing mainly on ma...
Read More: Kurgo joins the Liberty fraternity >Published: 31/01/2008
Staff across the country, including those at insurers Allianz, Lloyd's and WPA, are going to de-stress themselves by slipping on their slippers and switching off their emails this week.Friday February...
Read More: Insurance staff into slippers >Published: 31/01/2008
Around 5.5 million customers are confused about what coverage to expect on their travel insurance policy, according to a price comparison website.MoneyExpert.com says that its research shows that 12 p...
Read More: Customers confused over travel cover >