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Irish motor insurance market in jeopardy
- 08/09/2015
- Posted by: Simon Wait
- Category: News
Insurance Ireland today said it has serious concerns regarding the decision of the High Court in relation to Setanta Insurance and stated that the judgement has far-reaching implications. The Insurance Compensation Fund, which was established in 1964, has historically intervened in the event of insurance company [...] -
Public fights back against insurance cheats
- 08/09/2015
- Posted by: Simon Wait
- Category: News
The UK public is being thanked by the Insurance Fraud Bureau (IFB) for fighting back against insurance cheats and reporting valuable information they have about insurance fraud to the IFB’s ‘Cheatline’. In 2014 over 500 reports were made to the Cheatline every month by members of the public, 6,347 reports in [...] -
Uninsured driver numbers soar
- 07/09/2015
- Posted by: Simon Wait
- Category: News
The number of uninsured drivers on UK roads has increased by a ‘worrying’ 10 per cent in just a year, according to worrying new figures released today. According to figures from the Motor Insurers’ Bureau (MIB), compensation pay-outs because of accidents involving uninsured drivers increased from 21,972 in [...] -
Markerstudy acquires Lionheart Insurance
- 04/09/2015
- Posted by: Simon Wait
- Category: News
Motor insurance provider, Markerstudy, has acquired Birmingham-based Lionheart Insurance for an undisclosed sum. The deal, which has received approval from the Financial Conduct Authority, adds over 1,500 policyholders and more than £2m of premium to Markerstudy's retail arm. Directors, David and Alison Wilkes [...] -
Co-operative makes general insurance loss
- 04/09/2015
- Posted by: Simon Wait
- Category: News
The Co-operative's general insurance division has reported a 4.5% fall in gross written premiums for the first half of 2015. The drop to £180.3m from £188.8m at the start of 2014 came as it declared an operating loss of £17m. However, the insurer highlighted that it had incurred £17.3m of ‘transformation [...] -
Direct Line guarantees hire car cover
- 04/09/2015
- Posted by: Simon Wait
- Category: News
Motor insurance provider Direct Line has launched guaranteed car hire cover as a standard feature of its comprehensive car policy. All new and existing Direct Line customers are now entitled to a new standard hatchback sized vehicle from a hire car company in the event of a claim, at no extra cost. The hire car [...] -
Innovation Group agree to Carlyle takeover
- 01/09/2015
- Posted by: Simon Wait
- Category: News
Insurance software provider The Innovation Group PLC has agreed to a £499m takeover bid from private equity firm Carlyle Group. Under the agreement, the London-listed company will receive 40p per share in cash, which represents a 13.5% premium to Innovation's closing price on Thursday. It has been agreed after [...] -
Innovation Group confirms Carlyle Group takeover talks
- 28/08/2015
- Posted by: Simon Wait
- Category: News
Insurance software provider The Innovation Group PLC has confirmed advanced talks with private equity firm Carlyle Group over a potential offer valuing it at 40 pence per share. The company provides motor and property claims process services, enabled by specialist software technology that it also sells on a [...] -
Slater & Gordon claims commanding UK market share
- 28/08/2015
- Posted by: Simon Wait
- Category: News
Slater & Gordon has ‘a commanding market share lead’ in the UK, its managing director claimed today as the Australian-listed law firm announced a 27% in annual revenues to £243m. Its ever-expanding UK operation contributed £121m of this, excluding the first month’s contribution from Quindell’s [...] -
BMW launches upgraded shortfall cover
- 28/08/2015
- Posted by: Simon Wait
- Category: News
Working with Allianz Global Assistance in the UK, BMW Group has launched a new Shortfall Insurance product for BMW, MINI, BMW Motorrad Retailers and Alphera Partners. The new product helps customers to protect themselves should their car be written off, up to 100% of the invoice price, with no need to select the [...]