Major Job Cuts in the Insurance Industry - 30th November 2012

- The Insurance firm NIG is to cut 90 jobs and said that this should not affect service.

- Aviva will also be cutting jobs up to 120 positions may go at its Sheffield office on the claims management arm Asprea.

- 236 jobs to go at Direct Line in a apparent move to streamline and restructure regional underwriting and administration areas across the UK.

- Professional Insurance Agents Ltd have further talks with 2 leading UK brokers about merging Professional Indemnity Insurance and Medical Mal Practice Quote and Buy platforms into these brokers back office systems. The CEO Graham Hearsey said "PIA have helped many London based brokers giants to automate their schemes and get a B to C presents for SME insurances.

- Business Insurance 24 7 opens up 3 new SME Multiquote and Buy arrangements in Ireland and Italy offering SME Insurance products such as Office Insurance, Professional Indemnity Insurance and Travel Covers.

Insurance News Update - 28th November 2012

- Business Insurance 24 7 has appointed 2 new members to its marketing staff with special regards being given to schemes for financial lines products such as Professional Indemnity Insurance and Medical Mal Practice Insurances.

- There are major concerns from BIBA over the way regulation is over powering brokers with the heavy demands on compliance.

- Professional Insurance Agents Ltd the specialist Professional Indemnity Insurance Brokers have arranged several seminars to help clients understand, claims handling and policy coverage, particularly where clients are being asked to complete warranties.

- There are plans for BGL to expand more across the Personal Lines Insurance product range.

- Alan Westall the Co-Founder of Keelan Westall is to launch a new brokerage Property Insurance Initiatives.

Insurance News

1)    £500k extra capacity for Hampden with it's Lloyds capacity

2)    The latest figures coming out of the after effects of Storm Sandy leaves Swiss Re declaring an estimated $900 million in claims

3)    BIBA looking for it's new Chief Executive

4)    Professional Insurance Agents Ltd look towards it's Medical Malpractice Insurance covers to expand it's online facilities, and now in Ireland and the UK "Med Mal Insurance is an expanding area which we want to offer via affiliate groups" said Graham Hearsey CEO of PIA

5)    Business Insurance 247 looks towards the USA to expand it's online multiquote and buy platform.  "We have been in talks with brokers in New York and LA to discuss the launch offering professional lines products at first, such as Professional Indemnity Insurance and Directors & Officers Insurance covers

6)    ALMA and Finnish Run Off - reinsurer has been bought by R&Q for £4.4million

Insurance news 23rd November 2012

1)    According to a recent report, salaries for underwriters in the London market have fallen by around 0.65%.  Other insurance jobs in the city where salaries have increased are in compliance and risk management

2)  Equity Red Star may be taken over by Eddie Truell's acquisition format Tungsten

3)  Catlin bring in new group claim direct Glenn Brace

4)  Professional Insurance Agents Limited are looking at purchasing more small online trading brokers who are operating in the commercial lines insurance area.

5)  Business Insurance 247 multiquote and buy insurance platforms will be used in more than 8 different countries by independent brokers who wish to offer various kinds of commercial insurance products, such as Directors & Officers covers and other areas such as Med Mal Insurance.

Insurance News - 15th November 2012

- Directors and Officers insurance policies should also include EPL Employment Practice insurance together with pension trustees covers as part of the policy, although this would increase costs suggest Graham HEarsey CEO of Professional Insurance Agents Ltd.

- CPP the credit card insurer has been fined by the FSA £10.5 million for mis-selling.

- Claims have seriously affected Zurich UK's general insurance profits.

- Product recall insurers have been hard hit again after another major manufacturer recall from toyota.

- Giles takes two new staff from Towergate and James Hallam.

- Professional insurance Agents Ltd looking to purchase software company to deal with its Professional Indemnity portfolios.

- Business Insurance 24 7 launches its new 'life' products in conjunction with its 'new start up' insurance products, Office Insurance and Public and Employers Liability insurances.

- Markel launches its P/L broker E trading platform.

Insurance News Update - 13th November 2012

 - The latest reports of damage in the USA after Storm Sandy said that insurance companies will face claims for flooding and structure damage ranging from moderate to complete collapse according to reinsurance brokers Willis re.

- Allianz Insurance will make cut backs in its liability and mid market property insurance covers.

- AIG Brand is coming back and replacing Chartis re-branding its non-life insurance business.

- Professional Insurance Agents Ltd has talks with 2 more leading Professional Indemnity Insurance companies about the possible merge or take over of their business.

- Covea sets out their new board of directors who will be lead by chief executive James Reader.

- Business Insurance services appoints Tony Robinson as it expands its marine capabilities.

Insurance News Update - 8th November 2012

- Professional Insurance Agents have appointed new sales director to push forward on its financial lines products, Professional Indemnity Insurance and Directors and Officers Insurance covers.

- SME are retracting back in the Aviva camp, to try and sustain underwriting profits.

- The recent deal with Groupama and Ageas could be approved by the FSA shortly.

- Munich gets higher profits despite the storm sandy.

- Deutsche Bank to discuss Acromas to discuss flotation.

- Business Insurance 24 7 is very keen to start its Eastern European online Quote and Buy and will be in discussions with major insurers and brokers in the new year offering products such as Commercial Combined, Officer Insurance and Professional Indemnity Insurance policies

Insurance World News - 6th November 2012

- Its the end of the line with the UK Motor for Ecclesiastical.

- Mr Chaney has been appointed by Bennett's after a spell with junction and joins the board as a director.

- Professional Insurance Agents Ltd is trying to put together a long term agreement with a Canadian Broker to supply both Professional Indemnity Insurance products, errors and omissions policy via the London markets and with local suppliers.

- John Pieri is acquired by H&H group.

- A equine specialist brokers wetherbys Hamilton appoints for new partners.

- Business Insurance 24 7 starts its new marketing campaign which promises to be focusing on Multiquote and Buy SME product range including Professional Indemnity Insurance, Directors and Officers Insurance and Charities and Trustees covers.

Insurance News Update - 1st November 2012

- Re Insurers will not have too much of a hit after Sandy according to standard and poor's.

- Professional Insurance Agents Ltd go into talks with 2 leading Professional Indemnity Brokers discussing possible take over's of merges. Graham Hearsey PIA CEO said we are looking at ways to expand quickly and a take over or merge to give us the opportunity.

- Aviva and Gallagher Health MGA OIM are set with a deal to off standard and non-standard household products estimated to produce £200 million GWP.

- The brokers APC looks towards a new product launch into public hire taxi's.

- Business Insurance 24 7 looks towards underwriters and insurance schemes to promote its new and improved multiquote and buy platforms in the UK and Europe concentrating on Professional Indemnity Insurance and Directors and Officers covers.