insurancepeople
leader
www.insurancepeople.uk.com
Insurance people, indeed I
Editor and Publisher
Andrew Newman
Consultant Editor
Brian Susman June 2010
t’s always been said that insurance is a people business - a theme this magazine naturally backs to the hilt.
Anyone still in doubt about that obviously did not venture out to the recent BIBA gathering in London’s Docklands at ExCel. If they had done so, they would have seen the networking force working at full throttle. Old friends, new friends, and yes... neglected friends - all were in evidence.
Director Jeni Hall
Design
Cohesion Brand & Design
cohesiondesign.co.uk info@cohesion-ds.co.uk cohesionbrandblog.co.uk
Production Adrian Susman
adrian@insurancepeople.uk.com www.insurancepeople.uk.com
Printers Pensord Magazines & Periodicals Tram Road, Pontllanfraith, Blackwood NP12 2YA
Director Adrian Susman
It would be impossible to know exactly how many kismet bonds were forged in ExCel. But in recent years the BIBA event has dramatically reduced the odds when it comes to bringing together future business partners seeking the meld between questions and answers, and problems and solutions. Partners sometimes discover each other by the most bizarre coincidence, whether that be in seminar session; in the exhibition area; the bar; or even cheek by jowl in a horrendously small train packed to the gunnels at Canary Wharf.
‘Claustrophobic tension’ - a phrase exploited (some readers might say over-exploited) elsewhere in this issue of Insurance People to describe the 2010 spate of marooning incidents, whether caused by volcanic ash, the wrong kind of snow, or sporting event chaos etc. Just when it seemed safe, Fate played another joker at ExCel. Being incarcerated amid a 12-coach trainload of returning delegates on a DLR train of just four carriages could have been worse. And so it proved, when the packed train reached Canary Wharf. While not comparable with a stranding in Shanghai; being stuck under the Channel; or trapped in an airport lounge, the Jubilee Line dished out its own ‘stuck in a lift’ discomfort as hordes of homebound regulators and other high-rise inhabitants tried to squeeze aboard.
In this issue
2 Late news 4 Market talk
10 Does Jackson Matter?
John Mullin and Andrew Welch offer their respective views
12 Car rental cover Ernesto Suarez believes the UK car rental industry will shortly fall under the regulator’s gaze
14 Jack Brownhill A close call! The ABI and the British Bankers’ Association were at one time thinking of a merger
16 Personal lines
claims Kevin Durkan asks why insurers retain management for claims long after the customer has moved on
18 Compliance
The FSA needs to “approve” all directors & partners, even if they have no active role
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adrian@insurancepeople.uk.com
ISSN 2043-9202
Insurance People is published monthly by Buttermere Wedge Publishing Limited.
While every attempt has been made to ensure that the information contained within this publication is accurate, the publisher accepts no liability for information published in error, or for views expressed. All rights for Insurance People magazine are reserved. Reproduction in whole or in part without prior permission from the publisher is strictly prohibited.
12
Brokers should add car hire insurance covers to their income streams, believes Ernesto Suarez
14 16
Would insurers replicate existing claims structures if starting again?
20
20 The view from here Graham Mawman offers his outlook from Jacksonville Beach
Many new motor insurers are set up outside the UK, beyond the reach of the FSA
22 News
30 Market Talk PLUS Simon Tennyson at Motorway Direct invites the broking market to adopt ‘gap’ covers as an additional income stream
31 On the move Who’s going where?
The Graham Mawman viewpoint from Florida
33 On the Road
Sometimes all we want to do is just get back home!
JUNE 2010 insurancepeople 1
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