Insurance news

• Loss adjuster Certo praised for handling claims of failed insurer Millburn

  16-12-2014 19:50
  Certo receives strong audit report scores from the FSCS
  
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• Covéa launches motor fleet product

  16-12-2014 19:30
  New product aimed at fleets up to 25 vehicles
  
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• Tasker buys licensed trade sector broker

  16-12-2014 17:57
  Tasker Insurance Group snaps up Dartford-based Pro Hospitality.
  
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• Editor's comment: What a difference a year makes

  16-12-2014 17:47
  
  Stephanie Denton Postonline
  
  
  2014 is coming to a close and so much has happened but will insurers be sad to see it go? It was the year that started with Winter floods estimated to have generated a total bill of £500m and saw Labour Party Leader Ed Miliband demand insurers settle claims within weeks of submission.
  
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• Ryan looks ahead

  16-12-2014 17:17
  Our Christmas Q&A continues with Tim Ryan of Ryan Group.
  
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• Tasker buys pub broker Pro Hospitality

  16-12-2014 17:02
  Pro-Publican owner boosts Tasker’s hospitality business
  
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• Review of the Year: General Insurance

  16-12-2014 16:51
  
  Callum Brodie Postonline
  
  
  General insurers including Ageas, Aviva, Direct Line, Axa and LV reflect on a year that started with immense flood claims, saw the Competition and Markets Authority’s final report into motor insurance and ended with a warning by the regulator on the use of reserve releases.
  
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• Tasker completes Pro Hospitality purchase

  16-12-2014 16:38
  
  Katie Marriner Postonline
  
  
  Tasker Insurance Group has completed its acquisition of broker Pro Hospitality.
  
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• Progressive takes majority stake in ASI for $875mn

  16-12-2014 16:25
  New York-listed auto insurer Progressive has agreed to pay
  $875mn in cash for a 67 percent stake in ARX, the parent of
  privately held carrier American Strategic Insurance (ASI), the
  company has said.
  In a separate statement, XL Group said that it would receive
  approximately $500mn for its 39.7 percent stake in ARX - valuing
  the business at 2.6x tangible book value.
  Progressive has had a 5 percent stake in ARX since 2012 and said
  it expects to acquire the...
  
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• Charities: Charity begins at home

  16-12-2014 16:01
  
  Andrew Brown Postonline
  
  
  Charities require business interruption cover like any other business – but how can they make sure they aren’t paying too much?
  
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• Roundtable: Customer retention: How to use data to keep hold of customers

  16-12-2014 15:51
  
  Mark Sands Postonline
  
  
  Can the way data is used and analysed in
  the insurance industry pave the way to
  customer loyalty?
  
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• Interview: Peter Staddon: Ringing in the changes

  16-12-2014 15:27
  
  Katie Marriner Postonline
  
  
  Having completed his first 12 months leading the Managing General Agents’ Association, Peter Staddon tells Post about his future ambitions for the trade body
  
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• The POST Power List 2014

  16-12-2014 15:26
  
  Katie Marriner Postonline
  
  
  After much deliberation, Post can reveal numbers 50 down to 21 of our Power List - with the top 20 shining lights of the insurance industry set to be unveiled later in the week.
  
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• North of the Border: The ramifications of Smith

  16-12-2014 15:04
  
  Morag Baird, Associate, Simpson and Marwick Postonline
  
  
  Following the Scottish referendum, the UK government established the cross-party Smith Commission to make proposals for devolution of further powers to the Scottish Parliament. These recommendations, if implemented, will see yet further differences develop between the laws and practice of Scotland and England.
  
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• FCA reputation diminished after damning Davis report

  16-12-2014 15:01
  
  Katie Marriner Postonline
  
  
  The Financial Conduct Authority has been left "diminished" by a damning report into its handling of publicity around a life insurance thematic review, according certain market observers.
  
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• Trade Voice: Bringing forward policy issuance

  16-12-2014 14:56
  
  John Hurrell, CEO of Airmic Postonline
  
  
  In no other area of business would a deal worth potentially hundreds of millions of pounds be entered into without a written contract.
  
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• Market braced for major IAG loss deterioration

  16-12-2014 14:41
  Reinsurers are set for a fresh hit from the New Zealand earthquakes
  of 2010/11 as Australasian carrier IAG has informally warned
  carriers that its loss notifications will rise significantly,
  The Insurance Insider has learned.
  Reinsurers have not yet been provided with a hard loss figure
  and IAG is said to still be working to determine the full extent of
  the creep.
  However, sources said that the deterioration could be up to 20
  percent for the September 2010 Darfield quake and...
  
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• Penny Black’s Insurance Week - 18 December

  16-12-2014 14:33
  
  Penny Black Postonline
  
  
  German efficiency is world renowned but our Teutonicn cousin’s reputation for innovation is less robust.
  
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• Penny Speed Meets... Ian White, underwriting manager, Century Underwriting

  16-12-2014 14:27
  
  Penny Black Postonline
  
  
  Penny meets Century Underwriting's underwriting manager, Ian White
  
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• Career development: Questgates reports continuing success in counter-fraud training courses

  16-12-2014 14:15
  
  Mark Sands Postonline
  
  
  Specialist loss adjuster Questgates has recorded 13 candidates from insurers passing its counter-fraud training courses and obtaining qualifications from the Counter Fraud Professional Accreditation Board.
  
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• UK insurers undeterred on sharing society progress despite international Uber concerns

  16-12-2014 14:02
  
  Katie Marriner Postonline
  
  
  The banning of Uber in several territories will not deter the UK insurance industry's engagement with sharing economy companies, according to commentators, with telematics providers tipped to help small car-sharing organisations obtain cover.
  
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• Market Moves - 18 December 2014

  16-12-2014 14:00
  
  Mark Sands Postonline
  
  
  All the latest job moves in the insurance market.
  
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• C-Suite - Broker: The focus on collaboration

  16-12-2014 13:52
  
  Phil Barton, chief executive (insurance), Jelf Postonline
  
  
  Change continues apace and the challenge facing insurers and brokers alike is not to batten down the hatches and wait for it to slow or stop, but rather to work out how to adapt in order to thrive in today’s and tomorrow’s paradigm.
  
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• Fairfax buys QBE's Czech, Hungarian and Slovak operations

  16-12-2014 13:51
  Fairfax Financial has entered into a deal to buy QBE's
  insurance operations in the Czech Republic, Hungary and Slovakia,
  the firm announced today (16 December).
  It is expected the existing businesses and renewal rights of
  these operations will be transferred to Fairfax by the third
  quarter of 2015, subject to customary closing conditions, including
  regulatory approval.
  The businesses generated more than $40mn in profitable gross
  written premium across several general insurance classes, inclu
  
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• C-Suite - Insurer: Delivery... not just for Christmas

  16-12-2014 13:47
  
  Nigel Bamber, regional manager UK & Ireland, XL Group’s insurance operations Postonline
  
  
  Action is key to provide good value and communication for customers
  
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• Future sustainability of Pool Re to be achieved by modernisation in 2015

  16-12-2014 13:27
  
  Francesca Nyman Postonline
  
  
  The Pool Re board is aiming to complete its modernisation of the 22-year-old terrorism facility by the end of next year.
  
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• Cyber risk underwriting a pressing issue for insurers in 2015, states EY

  16-12-2014 12:19
  
  Callum Brodie Postonline
  
  
  The growing threat of complex cybercrime will present businesses with significant challenges throughout the course of next year, according to analysis undertaken by EY.
  
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• Beaumonts to rebrand as Jelf Beaumonts

  16-12-2014 12:07
  Alway anticipates smooth integration and describes aquisition pipeline as "healthy".
  
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• Red Apple to expand and create jobs in Wales

  16-12-2014 11:59
  The broker, focused on products including cyber attack protection, receives £160,000 from the Welsh government.
  
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• Liberty Mutual expands Manchester branch

  16-12-2014 11:53
  New recruits to target casualty and property business.
  
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• Capita backs Pardus forestry business

  16-12-2014 11:01
  Insurance outsourcing firm Capita has made an additional investment
  in managing agency start-up Pardus to support the development of
  its new forestry business, the firms said today (16 December).
  Pardus will offer insurance and reinsurance products for
  forestry and tree crops globally. The underwriting capability will
  be backed by capacity at Lloyd's.
  The forestry team is made up of Phil Cottle, Mike Edwards and
  Georgina Christou, who have all joined Pardus from London-based
  reinsurance agen
  
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• Direct Line brand awareness dominance not translated in policy sales

  16-12-2014 10:50
  
  Callum Brodie Postonline
  
  
  Direct Line is failing to transform dominant brand awareness among consumers into policy sales, according to the latest Global Reviews UK motor insurance providers digital marketing effectiveness study.
  
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• Jelf buys Beaumonts for initial £10.1m

  16-12-2014 10:12
  Deal cost will rise by £8.28m if Ebitda targets hit.
  
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• Jelf builds northern presence with Beaumonts acquisition

  16-12-2014 09:57
  
  Francesca Nyman Postonline
  
  
  Jelf has widened its footprint in the north of England with the acquisition of Yorkshire-based broker, Beaumonts Insurance Group.
  
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• Anbang agrees deal to buy Delta Lloyd Bank Belgium

  16-12-2014 09:43
  
  Francesca Nyman Postonline
  
  
  Chinese financial services company Anbang Insurance has reached an agreement to buy Delta Lloyd Bank Belgium from Dutch financial group Delta Lloyd for €219m.
  
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• Jelf pays £10.1m for Leeds broker Beaumonts

  16-12-2014 09:41
  Jelf Insurance Brokers boss Phil Barton (pictured) says deal will make it a “Northern powerhouse”
  
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• Stephen Catlin enters IIS Hall of Fame

  16-12-2014 09:22
  The International Insurance Society (IIS) has announced that
  Stephen Catlin, founding CEO of Catlin Group, will be 2015's
  recipient of the Insurance Hall of Fame.
  
  Catlin will be inducted on 15 June at a gala awards dinner
  taking place in conjunction with the IIS annual seminar at the
  Waldorf Astoria Hotel in New York City.
  Recipient are chosen by IIS members for making a broad,
  encompassing and lasting contribution to the insurance
  industry.
  Under the executive's leadership, the Catlin
  
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• Footballer Sterling falls foul of continuous insurance enforcement

  16-12-2014 09:13
  Footballer fined £600 after successful prosecution from the Driver and Vehicle Licensing Agency (DVLA)
  
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• Footballer Raheem Sterling falls foul of Continuous Insurance Enforcement

  16-12-2014 09:13
  Footballer fined £600 after prosecution by the Driver and Vehicle Licensing Agency (DVLA)
  
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• Fitch revises 2015 outlook for insurance market to stable from negative

  16-12-2014 09:04
  While the outlook for the company market improves, the London market moves from stable to negative.
  
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• Spike in motor rates boosts Fitch outlook for UK insurers

  16-12-2014 08:00
  Company market outlook improves but London market remains gloomy
  
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• Tenants eviction Bill changes will drive up landlord legal expenses cover

  16-12-2014 07:31
  Liberal Democrat peers want to make it harder to evict tenants
  
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• AXA to launch more complex SME cover on e-trade

  16-12-2014 07:30
  The move will allow AXA to focus on expanding its mid-market reach from its branches
  
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• One in 10 car deaths linked to alcohol, says WHO

  16-12-2014 04:37
  
  Andrew Tjaardstra Postonline
  
  
  Following a study, the World Health Organisation has said one in every ten car deaths is linked to alcohol.
  
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• Every tenth car death linked to alcohol, says WHO

  16-12-2014 04:37
  
  Andrew Tjaardstra Postonline
  
  
  Following a study, the World Health Organisation has said one in every ten car deaths is linked to alcohol.
  
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