Insurance news

• Insurance Times launches largest ever e-trading survey to investigate service to brokers

  03-03-2015 18:45
  Brokers invited to take part in survey; participants will receive a brief outline of results
  
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• Editor's comment: Golf anyone?

  03-03-2015 18:27
  
  Stephanie Denton Postonline
  
  
  The image of an insurance non-executive director having an easy life where they just pop in and attend quarterly business meetings and spend the rest of their life on the golf course is long gone.
  
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• Paul Geddes: Direct Line Group could still be leaner

  03-03-2015 18:07
  Insurer expects lower reserve releases in 2015
  
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• Geddes rules out further disposals or large acquisitions for DLG

  03-03-2015 17:40
  
  James Verrinder Postonline
  
  
  Direct Line Group's CEO Paul Geddes has told the market not to expect anymore disposals or large-scale acquisitions in the foreseeable future.
  
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• JLT has "continued appetite for acquisitions"

  03-03-2015 17:38
  
  Bosses say 2014 results highlight “continued momentum of the business”.
  
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• Apil calls for insurers to be investigated as part of child abuse inquiry

  03-03-2015 16:35
  
  Francesca Nyman Postonline
  
  
  The Association of Personal Injury Lawyers has called for the inquiry into historic child abuse to investigate the behaviour of insurers following allegations certain firms had encouraged local authorities to cover-up child abuse claims.
  
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• Sterling hires new west midlands development manager

  03-03-2015 15:48
  High net worth specialist nabs Palmer from broker network Purple
  
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• Credit hire firms tipped to focus on repair costs following landmark ruling

  03-03-2015 15:38
  
  Katie Marriner Postonline
  
  
  The Court of Appeal ruling on credit hire costs for pecunious claimants will trigger an increase in exaggerated credit repair costs, according to market commentators, who have warned the judgement is not as wide-reaching as insurers might hope.
  
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• Commercial Lines Fraud: Commercial stumbling block

  03-03-2015 15:14
  
  Tim Evershed Postonline
  
  
  With the fight against fraud in personal lines being increasingly successful, fraudsters are beginning to target the financially viable commercial sector
  
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• Regional review: New Zealand

  03-03-2015 15:02
  
  Katie Marriner Postonline
  
  
  There is more to the New Zealand insurance industry than handling natural disaster claims, a fact that may have been forgotten following the Christchurch earthquake events four years ago. Post caught up with a range of New Zealand industry insiders to get their thoughts on the current state of the local insurance market and the challenges of working in the region.
  
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• Dominic Burke: JLT has almost £400m of acquisition firepower

  03-03-2015 14:40
  Chief executive is also confident of continued organic growth despite slowdown in 2014
  
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• IBSC consulting on handbook for commercial clients

  03-03-2015 14:33
  
  Proposed handbook modelled on Code of Conduct published last year.
  
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• Applied Systems signs up with MyLicence

  03-03-2015 14:31
  
  Software provider to integrate its broker management system with the MIB Hub in the coming months.
  
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• Markerstudy wins regulator's blessing for Ultimate deal

  03-03-2015 14:29
  Acquisiton boosts Gibralter-based insurer’s GWP by £30m plus
  
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• Political Interview: Ian Swales: Make your voice heard

  03-03-2015 14:16
  
  Mairi MacDonald Postonline
  
  
  In the third of Post’s political interviews, Liberal Democrat Treasury spokesman Ian Swales speaks out on the importance of the European Union and why the insurance industry must learn to shout
  
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• Claims Club: Insurers urged to be proactive in industrial stress claims

  03-03-2015 13:39
  
  James Verrinder Postonline
  
  
  Insurers have been told they have the opportunity to be proactive and "not only address the balance sheet but show they care" about industrial stress.
  
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• Claims Club: Next government must address young driver issue

  03-03-2015 13:32
  
  James Verrinder Postonline
  
  
  The insurance industry has a "friend" in Europe in the shape of Lord Jonathan Hill, the EU commissioner for financial services and capital markets, no matter what happens in May.
  
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• C-Suite - Insurer: The strength of broker bonds

  03-03-2015 13:16
  
  John Hancock, managing director of UK commercial lines, RSA Postonline
  
  
  In a competitive market, brokers are the lifeblood of a commercial insurer
  
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• Penny Black’s Insurance Week - 5 March

  03-03-2015 13:06
  
  Penny Black Postonline
  
  
  Penny has often wondered about changes to the DVLA rules on older drivers behind the wheel.
  
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• Purchase of Gibraltar-based Ultimate boosts Markerstudy GWP by £30m

  03-03-2015 13:03
  
  Callum Brodie Postonline
  
  
  Markerstudy has been granted approval to complete the acquisition of Gibraltar-based niche personal lines insurer Ultimate Insurance Services and its UK administrative arm Ultimate Pet Partners.
  
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• Career Development: Insurer’s learning programme recognised by Chartered Insurance Institute

  03-03-2015 13:00
  
  James Verrinder Postonline
  
  
  RSA’s Learning Labs programme had received accreditation by the Chartered Insurance Institute.
  
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• Career file: Lovett named new Group Risk Development chair

  03-03-2015 12:53
  
  James Verrinder Postonline
  
  
  Group Risk Development, the trade body for the group risk industry, has appointed Lee Lovett as its new chairman.
  
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• Insurers advised to cut FOS complaints by avoiding technical jargon

  03-03-2015 12:38
  
  James Verrinder Postonline
  
  
  The number of consumer complaints against general insurers lodged with the Financial Ombudsman Service can be reduced by cutting down on the extent of technical jargon in responses to policyholders, according to compliance experts.
  
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• Market Moves - 5 March 2015

  03-03-2015 12:27
  
  James Verrinder Postonline
  
  
  All the latest job moves in the insurance market.
  
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• DLG reports 2.6% rise in GWP for commercial division

  03-03-2015 12:17 via insuranceage.co.uk
  
  But the motor division has seen a reduction in operating profit and the number of policies in force.
  
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• Solvency II NEDs told to ‘up their game' in face of increased regulation

  03-03-2015 11:39
  
  Katie Marriner Postonline
  
  
  The risk of a decreased talent pool has been highlighted by market players as a potential ramification of “onerous” regulation targeting non-executive directors at Solvency II insurance companies.
  
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• Moneysupermarket's net profit rises by 52% to £52.8m

  03-03-2015 11:35
  
  Ebitda rose by 13% to £95.2m in 2014, in line with the aggregator's expectations.
  
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• RK Harrison and Hyperion sign up to merger deal

  03-03-2015 11:29
  
  The boards and shareholders of both companies give their approval for the deal.
  
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• Profit and revenue growth for JLT

  03-03-2015 10:56
  
  Group and UK arms both increase revenue for global broker despite challenging conditions.
  
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• Opportunities in data for brokers

  03-03-2015 10:30
  
  Data can help brokers but they must use information in a way that pleases the FCA. Insurance expert Duncan Minty investigates.
  
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• Money Supermarket 2014 insurance revenue grows 8%

  03-03-2015 10:29
  
  Katie Marriner Postonline
  
  
  Money Supermarket's insurance division has seen an 8% rise in revenue to £138m for the year ended 31 December 2014.
  
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• The digital Panopticon and the new power of data

  03-03-2015 10:26
  
  Insurance expert, Duncan Minty explains how brokers can use analysis tools to gain greater insight and considers some of the regulatory impacts for brokers.
  
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• Hyperion and R K Harrison complete merger deal

  03-03-2015 10:11
  The combined group will be the world’s largest employee-owned insurance business
  
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• DLG hits all four 2014 targets despite reduced motor profits

  03-03-2015 09:57
  
  Callum Brodie Postonline
  
  
  A £50.6m year-on-year reduction in operating profit from ongoing operations within Direct Line Group’s motor business was the main driver behind a marginal dip in the insurer’s group-wide operating profit for 2014.
  
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• Motor rate hikes boost Moneysupermarket insurance revenue

  03-03-2015 09:38
  Group profit up 52% as total revenue rises 10%
  
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• Zurich boosts digital team with two new hires

  03-03-2015 09:28
  Steven Zuanella is the new digital director, while Simon Gratton joins as interim chief data officer
  
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• Direct Line Group reports 12.2% boost to profits as GWP continues to fall

  03-03-2015 09:17
  Group hits COR and cost base targets in full-year results
  
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• JLT reports 3% profit rise and 6% organic growth for 2014

  03-03-2015 08:54
  Thistle revenues fall but profit improves by 12.5%
  
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