Insurance news

• Broker Network expands offering to Northern Ireland members

  05-02-2015 19:09
  Irish members are part of Countrywide which is now a membership tier within Broker Network
  
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• New MGA hopes to reach HNW market

  05-02-2015 17:39
  
  Horizon expects to be a substantial player in the high net worth homeowners' market within three years.
  
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• New MGA targets HNW market

  05-02-2015 17:39
  
  Horizon expects to be a substantial player in the high net worth homeowners' market within three years.
  
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• Brightside replaces in-house e-trading system with CDL Strata

  05-02-2015 17:25
  Broker bought old system from former sister insurer Southern Rock for £17m
  
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• Lexis Nexis database contains 57% of UK no claims history

  05-02-2015 17:03
  
  Callum Brodie Postonline
  
  
  The Lexis Nexis’ no claims discount database has grown to contain 57% of the UK insurance industry’s no claims history following contributions from a range of insurers.
  
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• Massive Anthem health insurance hack exposes millions of customers' details

  05-02-2015 16:09
  
  United States’ second biggest health insurer says hackers breached its securityHealth insurer Anthem Inc, which has nearly 40m US customers, said late on Wednesday that hackers had breached one of its IT systems and stolen personal information relating to current and former consumers and employees.The No. 2 health insurer in the United States said the breach did not appear to involve medical information or financial details such as credit card or bank account numbers. Continue reading...
  
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• Tysers appoints new chief operating officer

  05-02-2015 15:01
  Stuart Blakeborough joins from Lancashire Insurance Group
  
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• Richard Pexton launches HNW MGA with former Oak team

  05-02-2015 14:45
  Brit-backed Horizon aims to work with more than 150 provincial brokers
  
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• Flood Re insurance scheme 'needlessly expensive'

  05-02-2015 14:33
  
  Scheme to provide affordable home insurance for UK properties at risk of flooding will cost three times more than the benefits it brings, warn government advisersA £180m tax on home insurance to subsidise the premiums of flood-prone households is poor value for money and badly designed, according to the government’s official climate change advisers.The Flood Re scheme, designed by the government and Association of British Insurers, will cost three times more than the benefits it will bri
  
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• Aviva heralds 'fundamentally dishonest' crash for cash victory where fraud was not pleaded

  05-02-2015 13:55
  
  Stephanie Denton Postonline
  
  
  Aviva has heralded a case that exposed phantom passengers and where the evidence led the judge to find the claim ‘fundamentally dishonest’, even though fraud was not specifically pleaded, as a clear warning to fraudsters.
  
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• Beazley's GWP up 3% to $2.02bn in 2014

  05-02-2015 13:09 via insuranceage.co.uk
  
  COR worsens to 89% last year compared with 84% in 2013.
  
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• Aviation rate rises ‘more muted’ than initially hoped, says Beazley boss

  05-02-2015 12:26
  
  Francesca Nyman Postonline
  
  
  Intense competition in the aviation market - particularly in the area of war risks - has prevented the industry securing the rate rises necessary following a spate of costly plane losses, according to Beazley’s chief underwriting officer Neil Maidment.
  
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• Footman James launches scheme for motoring journalists

  05-02-2015 12:12
  The Guild of Motoring Writers will have access to specialist rates and tailored policies
  
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• Towergate takeover takes dramatic twist

  05-02-2015 11:20
  
  Reports suggest unsecured creditors in deal to take hold of the troubled consolidator.
  
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• Number of investors seeking Quindell class action tops 500

  05-02-2015 11:14
  
  Callum Brodie Postonline
  
  
  The number of disgruntled investors seeking to take legal action against insurance claims outsourcer Quindell has grown to 500 and counting, according to law firm Your Legal Friend.
  
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• Number of investors seeking Quindell class action 500 tops 500

  05-02-2015 11:14
  
  Callum Brodie Postonline
  
  
  The number of disgruntled investors seeking to take legal action against insurance claims outsourcer Quindell has grown to 500 and counting, according to law firm Your Legal Friend.
  
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• Former government minister named Flood Re chair

  05-02-2015 10:40
  Mark Hoban appointed for his ‘strong ministerial and parliamentary experience’
  
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• Tysers hires new chief operating officer

  05-02-2015 10:30
  
  Stuart Blakeborough joins the broker from Lancashire Insurance Group.
  
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• American financial giant JP Morgan swoops for Towergate

  05-02-2015 10:22
  JP Morgan arm leads pack of unsecured creditors primed to seize control
  
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• Ex-government minister Mark Hoban named Flood Re chairman

  05-02-2015 10:15
  
  Callum Brodie Postonline
  
  
  Former Financial Secretary to the Treasury Mark Hoban has been appointed to the role of chairman of Flood Re.
  
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• Broker Network targets expansion in Northern Ireland with new offering

  05-02-2015 10:10
  
  Towergate-owned network aims to provide more support to Northern Irish members.
  
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• Brokers missing out on business, says claims company MD

  05-02-2015 10:00
  
  Evoque's Ian Whittock warns on under insurance.
  
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• Reduced reserve releases impact Beazley profits

  05-02-2015 09:54
  
  Callum Brodie Postonline
  
  
  Beazley recorded an 18% reduction in profit after tax from $264m (£173.7m) in 2013 to $217.8m for the year ended 31 December 2014.
  
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• RSA and LV= big winners in customer satisfaction survey

  05-02-2015 09:36
  NFU tops the league of customer satisfaction with motor insurers
  
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• Beazley reports COR of 89% in full-year results

  05-02-2015 09:26
  GWP also improves but profit before tax takes a hit at the Lloyd’s insurer
  
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• Beazley profits hit by lower reserve releases

  05-02-2015 09:26
  GWP improves but COR and pre-tax profits take a hit at the Lloyd’s insurer
  
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• Flood Re 'needlessly expensive' say advisers

  05-02-2015 09:03
  The Committee on Climate Change says there is a strong case to drop the £180 levy
  
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• Claims Excellence Awards 2015: Enter now

  05-02-2015 07:37
  The Claims Excellence Awards 2015 are now open for entries.
  
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• Rising costs caused SSL Loss Adjuster collapse

  05-02-2015 07:30
  Ageas contract win led to the failure of the Northampton-based business
  
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• Millions of health insurance customers' details stolen in Anthem hack attack

  05-02-2015 07:03
  
  United States’ second biggest health insurer says hackers breached its securityHealth insurer Anthem Inc, which has nearly 40m US customers, said late on Wednesday that hackers had breached one of its IT systems and stolen personal information relating to current and former consumers and employees.The No. 2 health insurer in the United States said the breach did not appear to involve medical information or financial details such as credit card or bank account numbers. Continue reading...
  
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