The stories hitting the headlines this week …
Warning
Former justice secretary Jack Straw has said that those paying and receiving referral fees after the planned ban should face up to two years in prison.
Comeback
Former Biba technical services director Peter Staddon has resurfaced at motorbike broker Devitt as personal lines executive director. Staddon left Biba in July after 15 years.
Loss
Broking group Cobra made an after-tax loss of £1.9m in the year to 31 March 2011 after taking a £1.5m goodwill impairment charge. The charge was related to Cobra’s decision to sell its Caterham and Alton divisions to ASG Risk Management.
Launch
RSA has launched a new global specialty lines division by combining its large, risk managed and specialist businesses. The division is led by group sales and broker relationships director Paul Donovan and incorporates more than £1bn of premium.
Move
Former Bluefin chief financial officer Ian Story has joined rival broking group Oval as finance director.
Story left Bluefin in December last year.
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