The Financial Services Authority (FSA) has banned three directors of BPS Insure Limited, for failing to inform the FSA that the London-based firm had a deficit of approximately ￡3 million in its client account.
The guilty parties had also increased the deficit by using client money between January and February 2005 to pay general business expenses.
The […]

Markel International Limited, the London-based subsidiary of international property and casualty insurance group Markel Corporation, has announced a pair of key appointments.
Gerry Albanese, president and chief operating officer since 2003, is leaving to return to the US where he will take up a senior role with Markel Corporation.
Albanese is succeeded by William Stovin in both […]

UK insurance comparison site Confused.com has added 1stQuote home insurance to the list of insurers it compares.
1stQuote is the trading name of Hero Insurance Services Limited.
Confused.com has recently welcomed a number of big name insurers to its comparison panel, including Tesco, Churchill and Privilege.
According to Confused.com’s commercial director Peter Ablett, the site offers the internet’s […]

Alstom has appointed Heath Lambert Group as its broker in the UK.
Heath Lambert’s Project Risk Group has achieved the deal through the provision of an approach that involves integrated and multiple disciplines.
Alstom is a leading supplier of services for power generation and rail transport, employs 5,000 and caters to much of the British rail industry.
It […]

Sainsbury’s Home Insurance is offering a 25% discount to new customers purchasing both buildings and contents cover together, before 6th October 2008.
An extra 10% discount is added to customers buying online and all new home insurance clients receive a ￡20 Sainsbury’s voucher which can be spent on groceries or fuel.
The buildings policy provides unlimited cover […]

Aon is predicting that cash in transit (CIT) premium rates could fall by up to 20% as competition in the market stiffens.
The insurance is needed to cover theft or damage of money or valuables while in storage or in transit and while there has been little change in premium levels in the London market over […]

The Government is furthering its clampdown on uninsured drivers during the autumn in a move that could reduce premiums for law abiding motorists.
The initiative will mean that uninsured drivers can be prosecuted even if they are not stopped by the police when at the wheel.
A new offence of keeping a car uninsured is being introduced […]

According to a report in the Telegraph this weekend, US insurance broker Marsh & McLennan is now assessing whether it can make a counter bid.
Benfield is the world’s third-largest reinsurance broker and has long been a takeover target for larger rivals Aon, Marsh & McLennan and Willis Group Holdings.
Aon made an ￡844 million cash offer […]