Insurer
The jury's out on how much riots will hurt the insurance industry
With the estimated riot costs now standing at £750m, insurance experts are in conflict over how much the violent events which have dogged London, Liverpool, Birmingham and Bristol will damage the insurance industry.
What the Papers Say - August 2011
In this month's What the Papers say, senior reporter at Insurance Age Liz McMahon, is joined by fellow senior reporter Emmanuel Kenning to discuss the latest top topics in insurance with principal of Bellingham Communications Ben Welsh.
Periodical payments for PI compensation set to rise following appeal case
A landmark court ruling may change the way in which the insurance industry pays out compensation to personal injury claimants.
Riots covered but claim extension unlikely, says Questgates
QuestGates has said that the local police authority has a legal responsibility to reimburse persons who sustain damage to property as the result of a riot under the Riot Damages Act 1886.
Concern as to whether industry will foot the bill for riots
Concern has been raised by brokers as to whether the events over the last few days in London, Liverpool, Birmingham and Bristol will be officially classed as riots under the Riot (Damages) Act 1886.
Allianz overhauls its motor repair network
Allianz Insurance has restructured its motor repair supplier moving to a consolidated supplier network structure consisting of nine regional repairer groups.
Toba changes must not be taken out of context, says Cliff
Ageas has reacted to the media coverage following broker complaints over the recent amendments the insurer has made to its terms of business agreements (Toba).
PMI industry must change tack to avoid further consolidation, says Pruhealth
Pruhealth has slammed the unsustainable economics of the SME private medical insurance (PMI) market.
Chartis closes door on new solicitors' PI business
As the annual solicitors’ professional indemnity renewal date looms, the market leader, Chartis UK, has announced that it will not be writing any new business in this sector.
Join Allianz, Groupama, BMS, Novae, SSP, CII and Lancashire in signing up for the Insurance Cup
With the football leagues in England and Scotland now underway, there has never been a better time to think about dusting off the boots and signing up for The Prince's Trust Insurance Cup.
Holt promoted to expand QBE's broker footprint across UK
QBE has promoted Judy Holt to the role of head of UK Broker Development with immediate effect.
Marketform hires new CFO
Marketform has announced the appointment of a new chief financial officer (CFO), Paul Guiry, who replaces Roger Doubtfire on his retirement.
Insurers are flooded with escape of water claims
Nearly one in five claims made on buildings and contents insurance is for damage caused by escape of water, costing £2m every day, according to research from the Association of British Insurers.
Jack Straw to speak at Post claims event
Former Justice Secretary and outspoken critic of referral fees Jack Straw will address the annual Insurance Age’s sister title Post’s Claims Event on 12 October.
Groupama calls for major market correction as commercial revenues drop
Groupama has revealed a 34% increase in profits before tax and amorisation to £18.5m (H1 2010: £13.7m) for its combined UK operations in the first six months of 2011.
GWP growth at Allianz UK
Allianz Group has reported a 4.5% increase in its UK gross written premiums to €533m (£464.5m) in the first six months of 2011, up from €528m in the same period of 2010.
RBS Insurance suffers 103% COR but profits soar
RBS Insurance’s results for the first six months of 2011 have revealed an operating profit of £206m, compared with the £253m half-year loss the insurer announced in 2010.
Ageas to be grilled by IIB over Toba changes
The Institute of Insurance Brokers (IIB) is to hold discussions with Ageas in response to member complaints over recent amendments the insurer has made to its terms of business agreements (Tobas).
Brokers will see more of new RSA chief
Adrian Brown has predicted that brokers will see more of Andy Haste’s successor than they see of the current chief executive.
McMillan wants clear water between Aviva and competition
Mr McMillan said he wanted to make it clear to brokers that the Aviva was absolutely open for business.
Simplyhealth reveals aim to grow further following Groupama deal
Simplyhealth has revealed plans to grow its market share to 10% after the purchase of Groupama Healthcare.
Axa points to referral fees to explain continued rise in costs
Axa UK has reported an improved combined ratio for the first half of 2011 but is still at a break even point of 100% while the total UK and Ireland property and casualty revenues came in at £2bn.
Aviva to grow motor book as profits and premiums rise
Aviva’s half year results for UK general insurance have revealed an operating profit of £242m, up 6% (H12010: £229m).
RSA UK's personal lines performance takes up commercial lines slack
RSA UK has reported a 7% increase in premiums to over £1.5bn and has improved its combined operating ratio (COR) slightly to 98.5%.