Insurance News - 29th October

1) Ink Insurance leader Mike Smith leaves the company.

2) The Macquarie Bank has decided not to continue funding brokers growth plans, saying it was because of the global economy.

3) Professional Insurance Agents Ltd appoint 2 new software developers to help with its explanation into offering online Multi Quote & Buy platforms to insurance brokers, and underwriters and MGA with interest in Professional Indemnity Insurance and Directors & Officers Insurance.

4) Professional Indemnity Insurance providers will need to consider higher levels of cover and Any One Claims policies to keep up with demand in the UK & Europe. Business Insurance 24/7 CEO Graham Hearsey said some insurance companies are very slow of the mark to update their policy wordings and covers. The world is changing fast and insurers, brokers and MGA's need to look at how products and services are sold.

5) Office Insurance products are now going to include covers for Directors & Officers Insurance and Legal Protection Policy.

PIA and Business Insurance 24 7 Hit Poland - 24th October 2012

Business insurance 247 and Professional Insurance Agents go into a joint venture with various brokers in Eastern Europe, talk took place today in Warsaw Poland with leading insurance brokers to offer London Market representation for offline financial lines business such as Professional Indemnity Insurance and Directors & Officers Insurance and to offer the software platform where SMEs can purchase a wide range of insurances from the quote and buy system.

Insurance World News - 23rd October 2012

- Zurich has found problems in its general insurance market in Germany and has strengthened its claims provisions in the long tail liability lines.

- Cars with no drivers are causing insurers to re-think where fault may now be placed i.e away from the driver/passenger or the manufacturers under perhaps a product liability cover.

- Professional Insurance Agents Ltd set to look into businesses operating in China for SME type covers focusing on Professional risks such as Professional Indemnity Insurance and Directors and Officers Insurances.
Intellectual Property Insurance could be a excellent product to promote in China although no plan for this to go online.

- Hiscox appoints Dr Richard Dixon as their head of catastrophe research.

- Business 24 7 joins forces with several Eastern European brokers to promote Online Multiquote and buy platforms offering Professional Indemnity Insurance and Public Liability and in some cases car and home insurance products via the super speed platforms.

- Ace appoints new people in UK and Ireland with Graeme McGeachie getting a promotion to London South East Regional manager.

- Suzuki appoints Carole Nash to offer accident recovery and legal protection cover along with motor bike cover.

Insurance News - 19th October 2012

- Insurance companies such as Aviva, Markel, RSA Hiscox need to give more time to their insurance brokers in the regions. As many large insurance brokers are grabbing up the small regional brokers and because they only tend to use panels it could be that the larger insurance companies will start to loose their GWP unless they start to favour smaller brokers.

- There is a move towards insurance companies in Europe or at least those operating in these areas, the demands for the UK and European insurance brokers for international trading grows.

- One of the leading companies in Multiquote and buy online Professional Insurance Agents Ltd who offer a large range of sme products from the UK and around the world such as PI PL points out that despite the trouble in the euro zone there is a big demand in the UK for sme products in Europe.

- New appointments have been made OnlineOnline the new insurance broker who offers products such as office and commercial combined insurances to SME's where Kevin Stock will head up there business development online multiquote department.

 

- Francis Duke takes over as chairman at Philibuster after Graham Dean steps down.

Insurance News 15th Oct 2012

1) Professional Insurance Agents Ltd the leading Online Quote & Buy Professional Indemnity Brokers could share a BIBA stand this year with Business Insurance 24/7 who also offer free software to brokers.

2) The BIBA CEO Eric Galbraith is to announce his retirement as acting CEO for BIBA.

3) New office to be opened in Yorkshire for RK Harrison Insurance Services

4) A new CEO is being appointed at Hastings Insurance Group. Gary Hoffman the former banking boss at Northern Rock & Barclaycard.

Insurance News Update - 12th October 2012

- Joe Zuk gets job at BMS in reinsurance property and casualty.

- Gregory gets new job at CFC.

- Tesco gets appointed by national windscreens as preferred supplier.

- UK athletics loose aviva sponsorship.

- Professional Insurance Agents Ltd the leading online Professional Indemnity Insurance provider gets new deal with several insurance companies to offer Office Insurance policies via their Multiquote and Buy platform.

- Direct Line groups IPO pricing is about right according to Paul Geddes the companies CEO.

Insurance News - 9th October 2012

- The failed insurance provider lemma will get help for its policy holders from the FSCS.

- AXA boss Paul Evans not happy with new law that could damage insurance companies reputation.

- Professional Insurance Agents Ltd go into fresh talks with American brokers, regarding its online multiquote platforms. The USA culture regarding commercial insurances such as Professional Indemnity Insurance, Commercial Combined insurance according to CEO Graham Hearsey is way behind the UK and therefore PIA see the USA and Canada as a massive growth area.

- WR Berkley give capacity to AML underwriting.

- The high costs of young drivers insurance could come down if younger drivers were better educated in their driving habits according to many leading insurers and brokers.

- Business Insurance 24 7 look to Middle East to promote their panel of Financial Lines Products such as Directors and Officers Insurance and Professional Indemnity Insurance.

Insurance News Update - 5th October 2012

- AXA to expand it simple products range.

- Lloyds result are very impressive despite world recession.

- The MGA Dual UK has appointed a new COO.

- The office of fair trading could effect insurance companies profits.

- Professional Indemnity Insurance Ltd has serious discussions with 2 Lloyds brokers and 3 syndicates to promote a new range of Professional Indemnity and Directors & Officers products via its online multiquote platform.

- Business Insurance 24 7 the sister company to Professional Insurance Agents Ltd is hoping to launch their multiquote products via one of Eastern Europeans largest brokers after a meet set in Warsaw Poland in the next few weeks.

The hope is that commercial insurance such as Public Liability, Professional Indemnity Insurance and Commercial Combined Insurance can be automated.

Insurance News - 3rd October 2012

- FSA (Financial Service Authority) will shortly be coming to an end with the new insurance regulator taking over in 2013. The regulator however is still pressing very hard to get banks and insurance companies as well as brokers to clean up their acts.

- Business Insurance 247 appoint new IT marketing and code writers to promote their online multiquote and buy insurance products. The company recently put together a office insurance product for WG Office Supplies to offer their clients immediate quotes and cover.
 - Professional insurance Agents ltd again look to partners internationally to expand their hold on the errors and omissions professional indemnity markets having just got close to agreeing terms with a canadian broker pratt lambert and brown one of the leading providers in canada for financial lines insurance products after meeting in london yesterday with CEO Jeff Brown, Ellie Hearse Director of PIA said we discussed many possibilities for online quote and buy headlining insurances such as Professional Indemnity Insurance and Directors & Officers Insurance and a new home insurance product which we expect to launch in the next few months.