Posted by Gabriella Hopkins | July 26, 2011

AXA trading on PowerPlace

AXA Commercial Lines has launched its tradesmen and professional liability products on PowerPlace, the online commercial insurance marketplace.

Policies are available to the self-employed and small businesses of up to eight persons with a turnover of £500,000 or less.

Public liability and temporary staff cover (for up to 50 man days in any period of insurance) are included as standard, plus a range of optional covers that allow brokers to tailor the policy to meet their clients’ specific needs.

AXA Commercial Lines director, Alasdair Stewart, comments: “Online distribution has an increasingly important part to play in commercial lines, particularly at the SME end of the market where competition is fierce.”

He adds: “PowerPlace has done a great job of creating a solution that makes it more efficient for brokers to do business and we’re delighted to be part of its marketplace.”

 

News posted: July 26, 2011

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Powerplace
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Posted by Gabriella Hopkins | July 26, 2011

Allianz and Sarmap develop new crop insurance technology

Allianz Re’s agriculture team is developing a new approach to crop insurance in cooperation with software company, Sarmap, which specialises in technology used for managing natural resources.

The two are working on radar-based remote sensing software that can allow biomass growth to be monitored and the potential yield of agricultural areas to be measured.

Compared to remote sensing technology, which is based on purely optical sensors, the radar technology can convert satellite images into data of superior value, irrespective of weather conditions and the time of day.

In 2013, the European Space Agency plans to make satellite images available on the Internet free of charge, and according to Allianz Re’s head of agriculture, Thomas Heintz, the new technology will enable the insurer to estimate a field’s potential yield on a weekly basis.

In addition, the software can be used to determine in detail the cause and impact of damage, in the event of loss.

Mr Heintz comments: “This closes data gaps that have made agricultural insurance difficult, and sometimes even impossible, in many areas in the past.”

 

News posted: July 28, 2011

Tags:
Crop Insurance, Technology
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Posted by Gabriella Hopkins | July 23, 2011

Aon appoints Singapore-based head broker

Aon Risk Solutions has appointed Nicki Tilney as head broker of construction, power and infrastructure at its global broking centre in Singapore.

The centre is one of Aon’s hubs around the world for insurance placement and allows clients access to insurance markets outside their immediate geography.

Ms Tilney, who has over 20 years of experience in the insurance industry, joins from JLT and will be relocating to Singapore from London.

Aon Risk Solutions’ chief executive officer, Hamish Roberts, comments: “This appointment demonstrates Aon’s commitment and ability to leverage its global footprint to find the best markets around the world for our clients, and ultimately develop and place the most efficient and effective insurance policies possible for them.”

 

News posted: July 23, 2011

Tags:
Broker, Head Broker
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Posted by Victoria Milson | July 22, 2011

Vanessa Elkins-Rogers Named VP, Vendor Management for Crawford

Crawford & Company , the world’s largest independent provider of claims management solutions, has named procurement executive Vanessa Elkins-Rogers to serve as vice president of vendor management for the corporation.   In her new role, Elkins-Rogers is responsible for directing multiple corporate support functions, including purchasing and vendor, real estate and fleet management. Based in Atlanta, she reports to Allen Nelson, general counsel, corporate secretary and chief administrative officer.   Elkins-Rogers comes to Crawford with more than 20 years of experience in accounting and procurement  management and proven success in developing centralized supply strategies that have delivered millions of dollars in cost savings. Most recently, she served as director of sourcing and supply chain operations for retail and financial markets at Johnson Controls, headquartered in Milwaukee, Wis.   “In the current economic environment, strategic purchasing decisions are more important than ever to our success as a business,” Nelson said. “Vanessa has the background and experience necessary to cultivate productive vendor relationships and maximize our purchasing dollars and processes. I am looking forward to working with her, and our strong existing team, to continue to improve our procurement and property management functions.”   Elkins-Rogers has worked for a number of Atlanta organizations, beginning her career with MCI/Voicecom Systems, where she last served as accounting and telecom manager, before moving to Bellsouth.net as senior manager of procurement and materials management. She Read more…

Tags:
Crawford, Vendor Management
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Posted by Victoria Milson | July 21, 2011

Nearly half of drivers under 35 text while driving

More than one in five drivers with cell phones send or receive text messages while driving, according to a recent survey conducted by Harris Interactive.

According to Harris, of drivers with cell phones, 22 percent say that they text message while driving. Just under half – 49 percent – of drivers under the age of 35 text while driving, while 24 percent of those aged 35-46 do so.

In the age group of 47-65, 11 percent text while driving, and only 1 percent of those over 65 years old send or receive text messages while operating a vehicle.

The overall 22 percent figure of drivers who text while driving did decline from 27 percent in 2009, Harris said.

According to the results of the survey, 60 percent of drivers with cell phones use them for some purpose while driving. This is down from 2009, Harris said, when 72 percent of respondents said that they use cell phones while driving – whether for texting or making/receiving calls.

These figures show up despite the fact that the vast majority of those surveyed know that it is dangerous to use a cell phone while driving. In the latest survey, 91 percent said they know it is unsafe to use a cell phone while driving, while 82 percent claimed to know this in 2009.

These findings “strongly suggest the need for laws to ban all cell phone use and texting while driving,” Harris said.

Harris Interactive obtained these results from an online survey conducted between June 13 and 20, 2011.

 

Tags:
Driving, While Driving
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Posted by Victoria Milson | July 19, 2011

Ryan Specialty Introduces Newly-Formed MGA Focusing on Renewable Energy Risks

Chicago, Ryan Specialty Group, LLC introduces PER se – an MGU specializing in the energy and power sector, with a primary focus on renewable energy risks. PER se offers agents, brokers and their energy clients CAT and non-CAT property and casualty coverages for wind, solar, bio, hydro and all other forms of renewable energy power facilities. Coverage is provided for all phases of the project exposure cycle, including cargo/transit, delay in start-up, construction, machinery breakdown, business interruption, operational and other liabilities.   Michael Bernay, Managing Director and CEO of PER se, says, “PER se is a unique, independent resource for agents and brokers with clients seeking specialized energy and power insurance products and services. Tailoring programs to meet the expected demand for these products and services requires a thorough understanding of all aspects of the exposures, which our team has garnered through our long-standing relationships and over 50 years of collective experience with the largest and most innovative companies in this global industry.”   Patrick G. Ryan, Chairman, and CEO of RSG, adds, “Worldwide energy demands are expected to increase dramatically over the next 20 years. PER se’s e Read more…

Tags:
Energy Risks, Renewable Energy, Renewable Energy Risks, Risks
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Posted by Gabriella Hopkins | July 19, 2011

Insurers play fair with black and minority ethnic law firms

The Law Society has reported that more firms had difficulty renewing their professional indemnity insurance (PII) in 2010 than a year earlier, and more reported an increase in premiums.

The Society’s research reveals that 63.5% reported no renewal difficulties in 2010, compared to a trouble free 79% in 2009, while 69.3% experienced a premium increase, compared to 62% in 2009.

However, no evidence of discrimination by insurers against black and minority ethnic (BME) law firms emerged, and a like-for-like comparison of BME and non-BME small firms found no significant differences in outcomes or premiums paid.

The findings suggest that difficulties in the renewal process experienced by BME firms are likely to be related to the size, rather than the ethnicity, of the firm.

The cost of insuring the legal profession against professional negligence claims has soared in recent years because negligence claims tend to increase during times of economic uncertainty.

In addition, legal firms focused on real estate business have been singled out for specific loadings by some insurer because of expectations that lenders will eventually begin suing some conveyancing firms over mortgage fraud.

 

News posted: July 20, 2011

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Firms
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Posted by Admin | July 16, 2011

Tips On Protecting Your Business

Do you know what it takes to properly protect your business? The thing that most people don’t understand is that no matter what you try to do there is always one thing you need as a business owner, liability insurance. The reason every business needs liability insurance is because in order to protect a business from claims you need to have some kind of insurance policy in force to do just that.

Get liability insurance – The very first thing that I would recommend that you do as a business owner is to get liability insurance. The biggest reason to get liability insurance is to take the risk off of you and place it on an insurance company. More and more businesses are starting to get liability insurance just to make sure a person can’t sue them when they really have no ground to. What you need to understand is that with the economy the way it is people will do almost anything to make a quick buck and that includes slipping at your business and filing a lawsuit.

Hire a lawyer – Another way you can protect your business is by getting a lawyer to look after you. Most people don’t understand how this would protect them but what you need to know is that lawyers do more than settle court cases. If you need somebody to see where you are most vulnerable then a lawyer can do that. If you wa Read more…

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Business
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