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My top five headaches for the UK insurance industry

4 January 2012 // 1 Comment

FOR THOSE RUNNING brokers and insurance companies in the UK non-life market, 2012 promises to be a challenging year with reputation topping my list of worries for the industry. Issues ranging from closure of a £500m tax loophole to how major property exposures can be managed once a decades-old pact to insure buildings at risk of flooding comes to an end; these and more will all vie for directors' attention alongside the day to day running of businesses typically located at the grudge purchase end of the high street. With concerns both legislative and market-driven requiring considerable thought, here's my top five insurance industry headscratchers. [...]

Referral fees – cash in while you can

1 June 2011 // 1 Comment

Understandably the insurance industry reacted negatively to the news, but in the end cold, hard cash did the talking some days later. on 31st May, stock market analyst Collins Stewart was bullish about the prospects of FTSE 100 darling Admiral Insurance precisely because of the LSB's protectionist stance. Referral fees are to continue and Admiral will carry on earning a tidy sum from them; a fact that won't have gone unnoticed by the many pension funds with holdings in the motor insurer. [...]