All articles by Ima Jackson-Obot – Page 12
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NewsHastings and Esure to win market share by 'aggressive undercutting'
Market share between motor insurers Hastings and Esure will only be won by aggressive undercutting of the opposition, according to a research note by investment bank Macquarie. With two quarters of rising prices behind them in the second half of 2015, both Esure and Hastings have ...
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NewsUK financial services industry is ‘perfect target’ for cyber attack - report
Financial services companies vastly overestimate how much insurance they have against a cyber-attack, Marsh UK and Ireland chief executive Mark Weil has said. This means the UK financial services industry is ‘perfect target’ for attack, according to lobby group TheCityUK’s Cyber Taskforce report co-written by Marsh. ...
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NewsDAS takes legal action against former chief executive Paul Asplin
DAS is taking legal action against former chief executive Paul Asplin. A notice at the High Court lists the case as DAS UK Holdings Ltd and Others versus Asplin and others. Insurance Times understands that the case is to do with Asplin’s conduct in the company, which did not affect ...
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NewsICO fines CMC £250,000 for making 17.5m nuisance calls
A claims management company that made 17.5 million calls asking people if they had suffered hearing loss at work has been fined £250,000 by the Information Commissioner’s Office (ICO). Key points: ICO received 248 complaints about company Check Point Claims has gone into liquidation ...
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NewsWhitehorn: True innovators look beyond current market
Use customer research to predict future trends, former Virgin Galactic boss Will Whitehorn tells Innovation and Disruption Conference
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NewsBluefin adds former commercial boss to GRP/Bruce court battle
A judge has given Bluefin the go-ahead to take legal action against Neil Thornton, the former head of its commercial division. The broker has accused Thornton of conspiring with ex-chief executive Mike Bruce, two Bluefin branch directors and Thornton’s new employer Global Risk Partners (GRP) to ...
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NewsLegal action against Neil Thornton ‘necessary’ to protect business – Bluefin
Bluefin said its legal action against former commercial director Neil Thornton was necessary to protect its business, clients and staff from individuals it suspects have breached their obligations to Bluefin. Following a hearing today at the High Court, a judge has given Bluefin the go-ahead to ...
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NewsAnalysis: MCE’s underwriting division struggles with claims costs
Despite strong sales, motorcycle insurers’ combined operating ratio hit 147.5% to May 2015, and extra cash has been pumped in to strengthen its capital base
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NewsFCA fines and bans brokers over £150,253 client money blunder
The FCA has banned former insurance brokers Terence Joint and Vroni O’Brien for failings in relation to the handling and misuse of client money. Key points: Broker Joint Aviation directors fined £30,000 Joint Aviation owed £150,253 to insurers Broker transferred client money ...
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NewsRSA claims handler jailed for £55,000 fraud
A former RSA employee has been jailed for 10 months for illegally passing on customer details to a law firm and adding friends and family to genuine claims in a £55,000 fraud. Anthony Francis Joseph Rattigan, 30, an insurance claim handler from Liverpool was convicted of ...
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NewsTowergate staff in £30m incentive scheme deal
Towergate has entered its staff into an incentive scheme worth more than £30m. One part of the scheme is worth £30.4m and Towergate has already made two payments to staff, with a final tranche due later this year, The Telegraph reports. Under Towergate’s old reward scheme ...
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NewsAXA unveils broker tool to tackle underinsurance in mid-market
AXA has launched an online tool to help brokers calculate the business interruption risk for individual commercial clients. Tool will help firm tackled underinsurance in mid-market AXA BI calculator is web-based tool that assesses a businesses’ BI exposure Tool intended to support prompt claim settlement The ...
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NewsMarkerstudy ends capacity deal with Brightside
Markerstudy has ended its capacity agreement with Brightside. The insurer is one of Brightside’s major capacity providers alongside Ageas. Markerstudy and Brightside have declined to comment. Last October Insurance Times revealed the scale of Brightside’s troubles as executive chairman Mark Cliff vowed to fix the problems ...
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NewsTowergate owner eyes Autonet deal
Towergate owner HPS, formerly known as Highbridge Principal Strategies, has been tipped as a frontrunner to acquire a stake in van broker Autonet Insurance Brokers, Insurance Times can reveal. According to market sources, Autonet is close to agreeing terms with HPS. Autonet and HPS have declined ...
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NewsCarrot's telematics 'warning' initiative improves young driver behaviour
Telematics firm Carrot Insurance has used its telematics box to improve the driving behaviour of its young policyholders, director Ed Rochfort has said. The firm which won an award last year for reducing accident frequency by 42% among its young drivers, through a strategy of intervention ...
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NewsBroker fee for FSCS levy falls as insurers pay more
General insurance brokers will pay £8m for the Financial Services Compensation Scheme (FSCS) in the 2016/17 year – down £11m on the £19m that was forecasted in January. General insurers will pay £91m – a £3m reduction on the £94m that was expected. However, it is ...
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NewsPRA to sharpen focus on how insurers manage property and liability exposure
The Prudential Regulation Authority (PRA) is planning to increase its focus on how well insurers are managing and measuring their exposure to property or liability risks. The PRA said the move had been driven by the continued rate reductions and widening of terms and conditions in ...
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NewsInvestment in insurance tech start-ups triples to $2.6bn
Investment in insurance tech start-ups more than tripled last year. Investments in insurtech rose from $800m in 2014 to more than $2.6bn in 2015, according to data from management consultancy Accenture. While much of the money has come from traditional sources such as venture capital and ...
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NewsFSCS announces £337m levy for 2016/17
The Financial Services Compensation Scheme (FSCS) has announced its levy for 2016/17 will be £337m - £26m less than forecasted in its plan and budget for 2016/17. The levy in 2015/16 totalled £319m. The calculation of the FSCS annual levy is made up of several different ...
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NewsJLT expects one-off costs of £34m in 2016
Jardine Lloyd Thompson (JLT) expects that the restructuring of its employee benefits arm and the settlement of its legal dispute with Willis will result in one-off costs of £34m in 2016. The broker has said that the restructuring of its UK and Ireland employee benefits division ...
