Personal
Motor market faces OFT investigation
The Office of Fair Trading (OFT) has launched an investigation into the private motor market following the sharp increase in premiums over the last 12 months.
Products: Cover from when the hammer falls
The high net worth antique and auction market has seen a recent focus on product development for both a broker and an insurer.
Products: Lexelle fuels market with expanded range
Wholesale broker Lexelle has launched a range of new products to help brokers meet customer demand.
Motor drives combined operating ratios down but it’s not all one way traffic
Rate rises in motor boost half year results but commercial market hardening remains elusive
Power hour: High on the agenda
High net worth clients are not feeling the global downturn as much as others and are placing ever greater demands on both brokers and insurers, reports Emmanuel Kenning
Products: Young drivers benefit from telematics
Insurers have been busy building on their telematics systems in an attempt to bring down the rising cost of motor premiums for young drivers.
Products: Victor Millwell takes on Aviva’s motorhome book
Aviva has defended its decision to pass on its direct motorhome business to Victor Milwell, saying that it would consider entering into other direct schemes with brokers.
Products: UK first as Arag develops new ‘divorce insurance’
Heralded as the first of its kind in the UK, Arag has developed a divorce product with two law firms.
The 10 most stupid insurance decisions
What are the 10 biggest bloopers committed by the industry? Tony Cornell gives us his top 10 insurance calamities
Review: Extra cover for motor
Pro-Motor Rescue. This product has been reviewed by brokers and rated from one to five stars, based on the policy’s key benefits. * = Poor ** = Average *** = Good **** = Very good ***** = Excellent
Solvency II could impact personal lines, survey says
A survey of 170 interim executives working in financial services has found that 90% of respondents expect the costs of Solvency II to force smaller firms to quit personal lines insurance due to being unable to make a profit.
L&G hires new broker director ahead of personal lines push
Legal & General’s general insurance business has appointed Mark Holweger to the new role of broker and intermediary director.
Regulator warns of bogus firm offering motor cover for young drivers
The Gibraltar Financial Services Commission (GFSC) has issued a warning to the public regarding Unique Car Insurance.
Significant scale change pleases Ageas chief
Barry Smith, chief executive of Ageas UK, has claimed the insurer is on track to break the 100% combined operating ratio (COR) barrier but warned again that he saw no real signs of commercial market hardening.
CCV-owned Motaquote shuts half of its offices
Motaquote has closed seven offices in South Wales as a result of the economic downturn with the affected branches being Mountain Ash, Treorchy, Cwmbran, Neath, Ebbw Vale, Risca and Aberdare.
Pet insurance study reveals £2.5bn of premium potential
Defaqto has estimated that with 48% of dogs and 69% of cats uninsured in the UK, the pet insurance sector offers providers a potential £2.5bn in untapped premiums.
Travelers Insurance pulls out of Irish private motor market
Travelers has announced that it is to exit the Irish private motor market as of 1 October 2011.
More Than looks to Rias for new MD
More Than has announced the appointment of Janet Connor as its new managing director.
Further law firms announce merger plans
The partners of Clyde & Co and Barlow Lyde & Gilbert (BLG) have voted for a merger between the two law firms.
Insurer claims industry first with mobile payment cover
Insurance2go.co.uk has said its policy covering mobile phone payment technology fraud is the first of its kind.
Products: Pruhealth in final stages of SLH product integration
Pruhealth has vowed to take a leadership position in terms of differential commission as it approaches the final stage of its product integration following its acquisition of Standard Life Health (SLH).
Product roundup: It’s a Standard Life for the man from the Pru
The finish line is now visible for the much discussed integration of Standard Life Health into Pruhealth, following its acquisition last year. The insurer has taken the move as an opportunity to adopt what it calls a leadership stance on differential…
Market moves: Underwriting boost and a nod to brokers
An interesting month saw ongoing developments on commercial business with personal lines remaining steadfastly silent. Insurers looked to boost their underwriting and pricing capabilities while keen to highlight they were reaching out to brokers. Axa…
Bean Counters 1, Consumers 0
A bad personal claims experience leads Nigel Dyer to question how some insurers achieve their loss ratios