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.