Flavour of the month...

We take our regular look at who’s been saying what in the insurance press...

Chief Executive of Broker Network Grant Ellis made the headlines this month, with his appearance in the Insurance Age reportage on Networks. Editor Martin Friel commented,

“It is not for me to recommend that brokers join a network but the idea really should be on their radar.” 

Also gracing the front cover of Insurance Times on 03 September, Grant Ellis spoke at length about his views on the FSA as part of a panel debate following suggestions by David Cameron that the FSA should be abolished. Grant points to the Bank of England during the interview as a good example:

 “It is a bank, its got a foot in government, but it sets the rate of interest and as a result is independent of government and political pressure. I can see something like that working very well in this sector.”

On 02 September 2009, Insurance Times revealed that HSBC Insurance would cease underwriting motor business through its two insurance operations, HSBC Insurance (UK) and HSBC Insurance Management Services Ltd. However, on a brighter note in an interview with POST Magazine, Phil Bird, Claims Director at Groupama has hailed the restructure of its frontline motor claims team a success. Early metrics revealed that 20% fewer calls were received since the pilot began in March compared to the same period in 2008 indicating a reduced number of queries after the insurer switched to multi-skilled teams working in 10-man pods.

Staying on the theme of motor insurance, a Motor Insurers’ Bureau report has revealed that more than 20% of young drivers are driving without insurance. The AA called the statistics “shocking”.

We’ll be back next month with our quick round up of the industry commentators.

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