in association with
Newproducts fromAPC
C ommercial
underwriting agency APC is to replace its property owners products with new residential and commercial landlords’ products, “... to help brokers to benefit from the forecast long-term growth of this sector”. Available from October 5, the new products cover 700 different types of occupant risks, up to £5m sum insured any one location. Included in the comprehensive cover are subsidence, heave and landslip; plus loss of rent up to 20% of the building sum insured, with an option to increase to 30%. The products will be available via APC’s online trading platform, QuoteMac, which has been upgraded with streamlined statement of facts and the ability to quote within three minutes.
Reinsurers stand behind earthquake losses
A
on Benfield is highlighting how reinsurance supported Australian and New Zealand insurers after the 2010 and 2011 catastrophic events, with nearly two-thirds of the losses being reinsured. Speaking at a
conference in Australia, Malcolm Steingold, CEO, Asia Pacific, for Aon Benfield, said that insurers faced a combined loss of AU$25.6 billion from the
Queensland floods, cyclone Yasi, the Perth hailstorm, and the New Zealand earthquakes. But insurers have been able to recoup an estimated $16 billion from reinsurers, he added.
Aon Benfield say that, following significant catastrophe loss activity over the past 12 to 18 months, the renewal of reinsurance programmes at July 1 2011 was “orderly”.
CII “New Generation Group” for London market
T
he CII has formed the London Market Faculty New Generation Group, to explore the potential for positive change in the London market. The group comprises nine young insurance practitioners, nominated by senior management. The year-long programme aims to give them additional exposure to market issues, including an insight into political lobbying, and to support the development of talent in the London market.
New commercial insurance range from AA
A
A Insurance has entered into an exclusive deal with insurance broker Bollington to add new products to its commercial insurance offering. The extended range includes cover for recovery operators, the taxi trade, motor traders and repairers, and self-drive hire companies.
As part of the deal, Bollington is offering AA fleet cover to its own commercial customers. Paul Moors, chairman of the Bollington Group, says, “Our broking experience, coupled with the AA’s marketing ability, is a perfect arrangement. It offers huge potential, including development of new services, created through AA’s financial services, such as business credit card or fuel cards.”
GABRobins trio pass CILACertificate G
AB Robins reports that three of its
graduate trainees have become first to pass the new CILA Certificate qualification.
Niall Metcalfe, Ashley Marsland and James Grima are the first intake to join the company’s graduate programme, launched last year in collaboration with the Financial Skills Partnership.
Mike Odell, head of training and development for GAB Robins, says that the company makes a significant investment in identifying and developing new talent, and adds, “The changes in the CILA qualification provide a progressive route through the CILA examinations, creating an ideal pathway to encourage people into the loss adjusting profession.”
The successful trio. Left to right: James Grima, Ashley Marsland and Niall Metcalfe.
NOVEMBER 2011 insurancepeople 25
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