26 BROKERS’ MONTHLY
Auto Windscreens sponsor Plato
1 Answer and RSA
renew partnership
Personal lines insurance
broker network 1 Answer Network
confirms the renewal of its
partnership with RSA. Poised
shortly to sign its 50th member,
managing director Paul Muir
believes the network’s
championing of the cause of high
street broking affirms RSA’s
decision to build on the
relationship. “At a time when
some insurers are reported to be
questioning the value networks
offer - and in some cases pulling
Auto Windscreens is to sponsor Jason Plato in the 2009 HiQ
out altogether - this is a clear
MSA British Touring Car Championship (BTCC) which finishes on 4
endorsement of the strength of
October 2009 at Brands Hatch GP
our proposition and the quality of
business written by our brokers.
“Insurers are realising that
quality is as important as volume,
Latest AA price survey
that building relationships and
client loyalty can underpin
The Shoparound index in the industry is facing escalating costs,
underwriting profits, and that
latest AA British Insurance falling investment income and
personal cover has an important
Premium Index reveals the underwriting losses. Premium rises
place in a market that perhaps has
average of the lowest three are therefore inevitable.”
become overly focused on
comprehensive car insurance Home insurance: The first
commercial insurance, and some
premiums during the last quarter quarter saw average quoted
of the larger insurers are actively
rose by under 1% to £504.38. The premiums for buildings rise for the
looking to
average quoted premium from eighth successive quarter, at
re-establish
over 80 providers showed a rise £218.53. Over the past year the
the local /
over 1% during the first quarter of figure has leapt by 8% – the
community
2009 - the first time for several biggest annual jump since the
broker part
years that there has been such a Index started in 1994.
of their
first-quarter increase. The average Home contents rose more
business
based on a basket of 1,000 sharply, by over £3 to £126.34,
portfolio.
‘customers’ was £751.60. reversing the downward trend of
“High
Simon Douglas, director of AA the previous six months. The cost
street
Insurance, says, “Although 1.3% of a combined home and contents
brokers who
may not sound much, premiums policy also rose slightly, to an
have access
fell during the same period in average of £292.54.
to the right
each of the past five years, so this Simon Douglas says that
increase is a significant indication historically, home insurance has
Paul Muir
products
and
that insurers are determined to not made the underwriting losses
infrastructure are in a strong
address past underwriting losses that have been a feature of the car
position to deliver on all three.
this year, as we predicted last insurance sector. “However, this is
And just as importantly, we act as
year. Premiums tend to fall a little changing. Even though house
the insurers ‘eyes and ears’ in the
during the first three months of prices have been falling, the cost
market, not only promoting their
the year. It’s when most car of rebuilding and repairing homes
brand and products but reporting
insurance renewals take place, to the higher standards required
back on the impact of their
while the new March car by building regulations, has been
initiatives through constant
registration change prompts steadily rising. Also, the recent
contact with our members.”
customers to look for new harsh winter brought an upsurge
Contact: Paul Muir, 07956
insurance cover, so competition in claims for buildings damaged
890131
between insurers tends to hold by snow and ice while the legacy
premiums in check. But the of the 2007 floods remains.”
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