All articles by Ben Dyson – Page 41
-
NewsInsurance saleswoman faces jail for £31k commission fraud
A saleswoman at health insurer Simplyhealth has been sentenced to nine months’ imprisonment for a £31,500 mis-selling scam. Jacqueline Buckmaster, 54, of Rumney, Cardiff, was handed the sentence, which is suspended for two years, at Cardiff Crown Court on Friday after pleading guilty to fraud by ...
-
NewsMoody’s will cut UK rating if it loses core of Single Market access
Moody’s has will downgrade the UK’s debt and issuer ratings if it fails to preserve “core elements” of its access to the EU Single Market following the country’s decision to exit the EU. The rating agency currently rates the UK Aa1, one notch down from its ...
-
NewsGibraltar insurer Elite considering new European unit post-Brexit
Gibraltar-based insurer Elite is considering setting up a new company so it can continue writing mainland European business after the UK leaves the European Union. Elite currently takes advantage of passporting rules, which allow companies to operate across the EU and European Economic Area with a ...
-
NewsAviva reassures market on solvency amid Brexit turmoil
Aviva said this morning that its Solvency II coverage ratio “remains close to the top of its working range” of 150% to 180% despite market volatility triggered by the UK’s decision to leave the European Union. The insurance group announced with its full-year 2015 results in ...
-
NewsS&P: UK rating faces multi-notch cut over Brexit
The UK’s sovereign rating could be downgraded by more than one notch over today’s decision to leave the EU, rating agency Standard & Poor’s (S&P) has warned. The rating agency gives the UK its highest rating of AAA, although it is on negative outlook, which means ...
-
NewsFCA: EU-derived rules still apply despite Brexit vote
The FCA has reminded companies that they must continue to abide by their obligations under UK law, including any derived by the EU, following the vote to leave the European Union. The regulator said the rules would apply until the government changes legislation to reflect the ...
-
NewsMarsh and Gallagher plot UK acquisitions
Much of the recent talk about UK SME broker mergers and acquisitions has been dominated by the new consolidators such as GRP and PIB. But it should not be forgotten that there are much bigger beasts in the market that also have a strong appetite for ...
-
NewsRevealed: How Marsh and Gallagher are plotting UK acquisitions
Marsh is keen to repeat the US success of its Marsh & McLennan Agency model, and after acquiring Jelf last year, is planning to buy more UK brokers
-
NewsAon UK appoints long-serving Marsh exec to board
Aon UK Ltd has appointed former Marsh executive John Nicholson as a non-executive director. Aon UK Ltd is Aon’s main regulated entity in the UK, and includes the global broking group’s UK risk management, insurance and reinsurance businesses. Nicholson worked at Marsh for 18 years between ...
-
NewsAllianz to start warning brokers about client underinsurance
Allianz UK is planning to start warning brokers when it thinks small business clients are potentially underinsured from next month, SME and corporate partnerships director David Martin. The move comes amid growing concerns about underinsurance at small to medium-sized enterprises (SMEs). Speaking at the inaugural Insurance ...
-
NewsSwinton closes Leek branch
Broking group Swinton closed its branch in Leek, Staffordshire on 18 June. The Leek Post & Times reported that the broker’s Leek branch clients will now be served by its Hanley branch. The paper quoted a letter to customers from Swinton distribution director Richard Beaven, which ...
-
NewsTowergate hires Microsoft to help with IT overhaul
Towergate has hired Microsoft as a provider of cloud-based computing as it continues to overhaul its IT systems. The broking group will use Microsoft’s Azure cloud computing platform for its data centres and staff computing will be based on Microsoft’s Windows 10, Office365 and Skype for ...
-
NewsMarsh’s Weil: SME broking needs to change
Simply finding the right price for clients will no longer be good enough to thrive as an SME broker, according to Marsh UK and Ireland chief executive Mark Weil. In his keynote speech at the inaugural Insurance Times Insuring SMEs event in London yesterday, Weil also ...
-
NewsInsuring SMEs: Biba to launch SME flood solution in September
Biba is aiming to launch its planned flood cover solution for small businesses on 1 September, according to chief executive Steve White. Speaking at the Insurance Times Insuring SMEs event in London today, White gave an update on the solution’s progress. He said: “We have ...
-
NewsSwinton revamps Preston branch as part of high-street overhaul
Swinton has opened its newly-refurbished Preston branch as part of an overhaul of its high-street presence. The broking group said the revamped Preston branch will serve as a pilot for its new high-street presence. The branch revamp follows a strategic review of the business, which Swinton ...
-
NewsCooper Gay hires strategy and change head
Broking group Cooper Gay Swett & Crawford (CGSC) has hired Wendy Kilminster as head of strategy and change. She will join the company in September and report to group commercial director Andy Wallin. CGSC is in turnaround mode under new chief executive Steve Hearn, who joined ...
-
NewsAsh Bathia’s Lloyd’s syndicate hires QBE financial lines head
Probitas 1492, the Lloyd’s syndicate run by Ash Bathia (pictured), has hired QBE’s former financial lines head Charles Boorman. Boorman joined Probitas today and reports to casualty chief underwriting officer Neila Buurman. In his new role Boorman heads up Probitas 1492’s financial lines team of underwriters, ...
-
AgendaStart-ups on insurers: ‘It is like you are in a pinball machine’
Start-ups speak out on the difficulties and frustrations of working with insurance companies.
-
NewsEY predicts further underwriting losses for UK motor insurers
UK motor insurers will report a 100.1% combined operating ratio (COR) in 2016, which will worsen to 101.7% in 2017, accounting and consulting firm EY predicts. The deterioration will be driven by pressure to cut rates in response to the government’s planned whiplash reforms and the ...
-
NewsFlood Re signs up 20 more insurance providers
Flood Re now has 36 insurance providers signed up to support it, up from 16 when it launched two months ago. Flood Re, a scheme allowing insurers to provide affordable flood cover to homes in high-risk areas, went live on 4 April. Chief executive Brendan McCafferty ...
