All articles by Ima Jackson-Obot – Page 11
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NewsAirmic 2016: Insurers must be more efficient to survive low rates
The insurance industry cannot survive indefinitely on flat or shrinking rates, minimal investment income and low levels of natural growth in the market, a panel of leading insurance experts at Airmic have said. During the debate, QBE Euopean Operations chief executive Richard Pryce also questioned how ...
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NewsAirmic 2016: Cyber is biggest risk for insurance buyers
Cyber has ranked as the biggest area of concern for risk managers, according to a survey of Airmic members. The three areas of risk that gave members the most worry were cyber causing business interruption - cited by 45.5% of members as a top-three concern, cyber ...
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NewsFraud Charter: Beware losing expertise as FCA takes on CMCs
Government urged “not to throw out the baby with the bath water” when oversight of the claims management industry is taken over by ‘tougher’ FCA
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NewsJLT hires professional indemnity veteran Martin Ellis from Willis
Jardine Lloyd Thompson (JLT) Specialty has hired professional indemnity veteran Martin Ellis as head of UK Professions in its financial lines division. Ellis who has 30 years’ experience in the market joins from Willis where he led the UK professional indemnity practice. He is the co-founder ...
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NewsJLT's Thistle PI team exits for MGA EUNA
Former members of the Towergate Underwriting PI team that left to join JLT-owned managing general agency (MGA) Thistle Insurance have now left the MGA to join underwriting firm EUNA. The team led by Peter Newson and supported by Mark Richardson and Allison Britz had joined Thistle ...
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NewsTeenage 'ghost broker' jailed for a year for faking Allianz policies
A 19-year-old ‘ghost broker’ from Walsall has been jailed for a year for selling fake motor insurance to unsuspecting customers, leaving them uninsured and illegally driving on the roads. An investigation by the Insurance Fraud Enforcement Department (IFED) discovered that Azeem Mahmood Hussain was selling false ...
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NewsConsolidation is key driver in appointed representative boom
The number of appointed representatives in the UK is growing; networks report record applications. Now the FCA has decided to look at the oversight of ARs by their directly regulated principals
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NewsQ&A: Bill Cooper on evolving opportunities and threats in insurance
Bill Cooper is celebrating 20 years of being in the insurance sector. In that time he has seen a lot of change. Insurance Times spoke to the head of insurance at Lloyds Bank about threats and opportunities in the industry and how the bank has responded. ...
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NewsGeneral insurance complaints rise 4% in 2015/16 - FOS
New complaints to the Financial Ombudsman Service (FOS) about general insurance products, excluding PPI, rose by 4% to 31,284 in the 12 months to 31 March 2016, compared with the 30,080 it received in 2014. According to the FOS annual review released today, of the complaints ...
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News'Ghost broking' courier sentenced for defrauding Liberty in £89,000 scam
A 33-year-old courier from Epsom has been sentenced after he admitted to setting up over 100 bogus car insurance policies for his unsuspecting customers and defrauding victims and Liberty Insurance out of a combined £89,000. Renan Gomes was sentenced at Guildford Crown Court on Friday 20 May ...
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NewsMotor insurers' COR hits 102% despite premium increase
Motor insurers’ combined operating ratio (COR) was 102% in 2015 according to figures released by Deloitte. The firm forecasts the COR could rise to 104% in 2016 before returning to 102% in 2017. Motor insurance premiums in 2015 grew by 5% to £13.9bn in 2015. But ...
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NewsAXA to take firmer stance with brokers asking for higher commission
AXA is going to take a stronger stance by saying no to brokers that do not put forward a “compelling” case when looking for increased commissions, AXA commercial intermediary managing director Jon Walker said. The insurer is also going to be clearer about its reasons for ...
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NewsAA 'in talks' to sell Irish business
The AA has confirmed it is in talks to sell its Irish business. The roadside assistance group has said it was “exploring options in regards to its Irish business and a further announcement will be made if and when appropriate”. It did not name names, but ...
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NewsAviva pledges 30% of executive committee will always be women
Aviva has pledged that 30% of its executive committee will always consist of women. The insurance giant has signed up to a new target set by the 30 Per Cent Club, the campaign group which lobbies for greater gender diversity at the top of business. The ...
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NewsTowergate makes hire from DUAL to lead regional specialty arm
Towergate Underwriting has hired Martin Joyce to lead its newly formed regional specialty business. In his new role Joyce will be responsible for financial lines; including professional indemnity, directors and officers and crime. He will be based in Manchester and will report to commercial lines chief ...
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NewsPrice Forbes hires team from Marsh in retail push
Price Forbes has hired Audrey Corfield as managing director of its European retail arm. Corfield joins Price Forbes from Marsh, along with directors Richard Grimshaw and Jason Ellis, while Helen Morrison will be an associate director. Price Forbes said all four bring more than 60 years ...
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NewsRural rebrands in plot to be ‘challenger’ in agricultural insurance market
Managing general agency (MGA) Rural Insurance has rebranded its logo as it sets out plans to be a challenger business within the agricultural insurance market. Chief executive Ian Barclay said the UK’s rural economy was a major contributor to the UK economy - valued at £211bn ...
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NewsBluefin promotes Steve Hook to personal lines MD role
Bluefin has promoted Steve Hook to the position of personal lines managing director. Neil Forsyth has also been named as Bluefin’s new London Market Broking Director – replacing Paul Longhurst, who has left the broker to join Towergate. In his new role Hook will be responsible ...
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NewsTowergate hires London Markets broking director from Bluefin
Towergate has appointed Paul Longhurst as broking and distribution director in its London Markets division. Longhurst joins Towergate from Bluefin, where he had been London Market broking director for 25 years. Towergate Group chief executive David Ross (pictured) said: “We recognise the huge opportunity that exists ...
