Insurance news

• Crash-for-cash fraudsters found guilty in million-pound scam

  01-04-2015 18:26
  
  Fraudsters staged seven collisions with buses in Chester.
  
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• LV= enters telematics market with Wunelli app

  01-04-2015 18:26
  LV= Driving offers policyholders discounts in excess of 15%
  
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• Ten found guilty in £1m crash for cash con

  01-04-2015 17:30
  Over a 15 month period between 2010 and 2012 the fraudsters orchestrated seven collisions with First buses in Chester
  
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• CNA Hardy becomes underwriting partner for Dual's marine and energy business

  01-04-2015 17:22
  
  Francesca NymanPostonline Dual’s global marine and energy business has started underwriting supported by CNA Hardy’s Lloyd’s syndicate.
  
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• 10 found guilty in £1m fraud scam

  01-04-2015 17:22
  
  Katie Marriner Postonline Ten people involved in a £1m crash-for-cash scam have today been found guilty of conspiracy to defraud at the Manchester Crown Court.
  
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• Quindell makes £31m error in shareholder letter

  01-04-2015 17:22
  Shares suspended after outsourcer understated profits from unit it is selling to Slater & Gordon
  
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• Motor market constraints not Gibraltar-specific, GIA says

  01-04-2015 15:30
  
  Katie Marriner Postonline Market constraints that contributed to Gibraltar-based underwriter the Service Insurance Company ceasing to write business are likely to felt by motor insurers Europe-wide and not just in the UK overseas territory, the Gibraltar Insurance Association says.
  
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• Volkswagen and Ageas team up for new motor proposition

  01-04-2015 15:28
  
  James Verrinder Postonline Ageas UK and Volkswagen Financial Services have entered into an agreement that will see customers buying an Audi vehicle receive a new, fully branded motor proposition from the insurer.
  
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• Personal injury claims firm liquidated following £80k ICO fine

  01-04-2015 14:50
  Bolton-based Direct Assist penalised for nuisance calls after 801 complaints
  
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• Post Office Money unveils new over-50s household policy

  01-04-2015 14:36
  
  James Verrinder Postonline Post Office Money has launched a new home insurance product for customers aged over 50.
  
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• Zurich takes firm stance against fraud despite court reversal

  01-04-2015 13:45 via insuranceage.co.uk
  
  Insurer disappointed by Court of Appeal ruling in favour of claimant.
  
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• April Fool's: Independent Insurance to be re-launched at Biba Conference 2015

  01-04-2015 12:50
  
  Post Online Postonline Kites may well fly above the Manchester Central Conference Centre at the British Insurance Brokers' Association conference on 13 May, but it won't be to celebrate the launch of Independent Insurance Mark II.
  
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• Carlyle Group buys Nationwide Accident Repair Services for £43.2m

  01-04-2015 12:48
  
  Katie Marriner Postonline US private equity firm Carlyle Group has agreed a deal to buy AIM-listed Nationwide Accident Repair Services for £43.2m.
  
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• LV picks Wunelli to develop safer driving telematics app

  01-04-2015 12:35
  
  James Verrinder Postonline LV has selected Wunelli to support its entry into the usage-based insurance arena with the launch of its first telematics app.
  
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• Biba chief bemoans expensive regulation as FCA proposes 8.4% hike

  01-04-2015 12:33
  
  White highlights brokers already face the most expensive regulation in the world.
  
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• Bermuda insurer Hamilton completes Sportscover takeover

  01-04-2015 12:29
  Syndicate 3334 to be rebranded Hamilton at Lloyd’s
  
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• Blog: Private sector pain for brokers part of the price of peace in Northern Ireland

  01-04-2015 12:26
  
  Callum BrodiePostonline It is almost 17 years to the day since the Good Friday Agreement brought an end to 30 years of sectarian conflict in Northern Ireland, yet the lasting legacy of ‘The Troubles’ continues to have a profound effect on the local economy and the general insurance market that operates within it.
  
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• Hamilton completes deal for Sportscover

  01-04-2015 12:26
  
  James Verrinder Postonline Bermuda-based Hamilton Insurance Group has tied up the acquisition of Sportscover Underwriting for an undisclosed amount.
  
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• Zurich undeterred from fraud fight after appeal is upheld

  01-04-2015 12:06
  
  Katie Marriner Postonline Zurich says it is "unsurprisingly disappointed" by a 31 March Court of Appeal decision that ruled in favour of a claimant the insurer had evidence to show had made a fraudulent claim.
  
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• Cullum, Oliver, Thiam and Henderson back the Conservatives

  01-04-2015 11:44
  
  Andrew Tjaardstra Postonline Four well-known senior managers in the market have joined 99 other business leaders and backed the Conservatives for the 2015 general election in a letter.
  
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• CII survey lifts lid on industry pay rates

  01-04-2015 11:18 via insuranceage.co.uk
  
  Survey looking into workplace salaries shows gender imbalance is a challenge for the industry.
  
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• DVLA and MIB had weekly meetings about MyLicence

  01-04-2015 11:15 via insuranceage.co.uk
  
  Agency confirms no individual insurers were involved in the meetings.
  
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• Chartered employees earning at least 25% more, survey finds

  01-04-2015 11:04
  
  James Verrinder Postonline A survey by the Chartered Insurance Institute has found that Chartered employees earn more than a quarter more than non-Chartered colleagues.
  
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• Chartered employees earning at least 25% more, CII survey finds

  01-04-2015 11:04
  
  James Verrinder Postonline A survey by the Chartered Insurance Institute has found that chartered employees earn more than a quarter more than their non-chartered colleagues.
  
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• Judges rule lying Zurich claimant can keep ill-gotten gains

  01-04-2015 09:43
  Zurich paid the cheat with ‘eyes wide open’ and must face consequence, judges say 
  
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• Editor's comment: Do as I say, not as I do

  01-04-2015 09:39
  
  Stephanie Denton Postonline Insurers and brokers have been warned to be on their guard after the Financial Conduct Authority set out its stall for 2015 and set its sights on a general insurance shake-up with another series of reviews – despite many thinking this might be the year they get some respite.
  
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• Post magazine – 2/9 April

  01-04-2015 09:30
  
  Tracey Jones Postonline The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS App Edition on the App Store or read the Post Digital Edition online.
  
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• Carlyle Group to buy Nationwide Accident Repair for £43.2m

  01-04-2015 09:26
  Private equity group makes £1 a share offer for crash repair firm
  
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• Innovation Group sells UK property claims software contracts for £4m

  01-04-2015 09:22
  Contracts bought by software firm Symbility Solutions
  
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• Allied World seals purchase of RSA's Hong Kong and Singapore operations

  01-04-2015 09:15
  
  Callum BrodiePostonline The sale of RSA’s businesses in Hong Kong and Singapore to the Swiss-based Allied World Assurance Company has been completed.
  
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• Catlin finalises £85m sale of Insurethebox stake

  01-04-2015 08:59
  New owner Aioi now holds 75% stake in telematics underwriting agency
  
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• RSA completes £130m sale of Hong Kong and Singapore units

  01-04-2015 08:44
  Sale to Allied World gets regulatory and court approvals
  
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• Insurance group IGI seeking UK growth as S&P upgrades ratings

  01-04-2015 08:30
  Company hoping to hire teams defecting from larger firms
  
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• Quindell’s Rob Terry takes 7.4% stake in troubled stockbroker

  01-04-2015 08:25
  Daniel Stewart Securities has only recently resumed trading on AIM following capital shortfall
  
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• LV’s John O’Roarke gets 26% pay rise in 2014

  01-04-2015 07:30
  Insurer’s general insurance chief executive in line for 2% base pay rise this year
  
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• Catlin completes Insure the Box sale

  01-04-2015 04:07
  
  Andrew Tjaardstra Postonline Aioi Nissay Dowa Insurance has finalised its acquisition of Insure the Box and Drive Like a Girl from Catlin.
  
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• Review: Hot property?

  01-04-2015 01:57
  
  RSA Properties. 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
  
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• Review: Hot a property?

  01-04-2015 01:57
  
  RSA Properties. 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
  
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• Editor's letter - April 2015

  01-04-2015 01:57
  
  “While matters could be better, brokers will surely at least welcome this level of consistency”
  
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• Regional review: Bright future

  01-04-2015 01:56
  
  With HS2, a new tram system and a host of start-up companies, Nottingham’s future looks bright, but can the local broking community capitalise on the city’s growth? Siân Barton investigates
  
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• Market moves: Spring has sprung

  01-04-2015 01:53
  
  Over the past month, the newly-constructed Towergate has continued to be a popular destination for movers within the industry. Sarah Dalgarno and Steve Wood joined the consolidator as chief risk officer and CEO of Paymentshield respectively (see box). Elsewhere Stuart Counsell became a non-executive chairman of Henderson Insurance Brokers while Rob Wardle became the commercial account manager at Principal Insurance. Howard Green will replace Colin Marshall as the CEO of Besso Limited while Foot
  
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• Power hour: Battling fraud together

  01-04-2015 01:45
  
  As more fraudulent behaviour creeps from personal lines into the commercial space, brokers and insurers need to work closely together to tackle the problem, according to our expert panel
  
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• Talent spotting

  01-04-2015 01:42
  
  Having the right people with the right skills is vital to the insurance industry, but, as Daniel Pedley says, the sector is not attracting as many new entrants as it could
  
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• No Budget for business

  01-04-2015 01:40
  
  George Osborne’s last Budget before the upcoming general election containedvery little for the “engine room” of the economy, writes Paul Upton
  
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• Broking success: International broking

  01-04-2015 01:39
  
  From starting in a spare room at home to opening offices around the globe, La Playa’s CEO Mark Boon explains how specialisms have seen the broker grow organically
  
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• Finders keepers

  01-04-2015 01:38
  
  Attracting and retaining the staff is not just about pay. David Leen explainshow brokers can find and hold on to the best compliance talent
  
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• In-depth: Driving fleet forward

  01-04-2015 01:32
  
  While the smaller end of the motor fleet market is dominated by price, brokers can differentiate themselves by understanding driver behaviour and health and safety, writes Edward Murray
  
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• Conflicts of interest

  01-04-2015 01:21 via insuranceage.co.uk
  
  Insurers should not own independent brokers, brokers should not own insurers or underwriters and aggregators should be truly independent, argues Tony Cornell
  
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• Independent Insurance to be re-launched at Biba Conference 2015

  01-04-2015 01:20
  
  Jonathan Swift Postonline Independent Insurance is to be re-launched at the 2015 British Insurance Brokers’ Association Conference in Manchester Post has learnt.
  
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• FCA points out the pitfalls of social media

  01-04-2015 01:16
  
  Regulator’s guidance on financial promotions serves as useful reminder for brokers
  
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