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Video: GDPR – Future proofing your business: Don’t panic!

In the culmination of the three part series the specialists run over what to do in the coming days, weeks, months and years now that GDPR is in place. The final countdown is over and GDPR is now in force. Cheryl Martin, partner in the insurance advisory cyber and GDPR practice at EY and Branko Bjelobaba, founder of consultancy firm Branko Limited explain why the 25 May 2018 does not represent the end of work around the new regulations. The…

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Aviva pulls agency with GRP

Insurer had already split from two GRP-owned brokers. Aviva has ended its relationship with Global Risk Partners (GRP), Insurance Age can reveal. Aviva declined to comment. GRP could not be reached for comment. According to multiple market sources the move has been taken just weeks after the provider split with GRP-owned Alan & Thomas. GRP took a majority stake in Poole-headquartered Alan & Thomas at the start of November 2017. At the time the broker wrote £30m of GWP annually.…

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The Blog Spot: The march of the tech giants

Amazon looks ready to enter the market – are you prepared? Siân Barton asks. Yet again the big technology firms including Amazon, Apple, Google, Facebook and Alibaba are marching hot on the heels of the insurance sector. And the footsteps are getting louder. This week Insurance Age got the scoop that online retailer Amazon was definitely working with insurers and brokers ahead of a potential entry into the UK insurance sector. This news follows speculation about what the business might…

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AIG warns of rise in data breaches as GDPR comes into force

Provider says new rules can become “another tool for negotiation by extortionists”. A surge in data breaches and other security failure insurance claims is expected when the EU General Data Protection Regulations (GDPR) come into force on 25 May, according to research from AIG Europe. AIG head of cyber for Europe, the Middle East and Africa Mark Camillo warned that GDPR would become “another tool for negotiation by extortionists”. He said: “They will threaten to compromise an organisation’s data unless…

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City Insurance Brokers and Compass launch profit insurance scheme

Product designed for brokers with delegated authority and MGAs. City Insurance Brokers and Compass Underwriting have teamed up on Profit Commission Coverholder Protection (PCCP). According to the partners it is believed to be one of the first catastrophe profit protection schemes ever launched. The cover, backed by A-rated carriers, is aimed at brokers with delegated binding authorities and managing general agents (MGAs). The pair detailed that the scheme insures coverholders’ profit commissions against being reduced by a single large loss,…

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Uber gives drivers free insurance as it expands partnership with Axa

Firms to build digital platform to offer covers tailored to drivers and couriers. Ride-booking app company Uber will provide Partner Protection to eligible drivers and couriers for free from 1 June including accident, injury and illness cover as well as paternity benefits. The news came as Uber and Axa expanded their partnership to provide more insurance benefits to all of Uber’s drivers and couriers across Europe. Axa chief executive officer Thomas Buberl said the partnership was in response to the digital revolution…

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Alpha: Cover My Cab steps in with Gefion policies

The move follows the collapse of Danish provider Alpha which left many taxi drivers uninsured. Taxi specialist broker Cover My Cab, a trading name of J&M Insurance Services, is offering to arrange new Gefion Insurance policies for clients following the collapse of unrated Alpha Insurance. Alpha policyholders were left without insurance when the Danish firm went bankrupt on 8 May. Taxi drivers were particularly hard hit. According to Cover My Cab, which has been involved in insurance for 37 years,…

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Coversure backers Livingbridge “not done” with insurance investments

PE firm met with 30 brokers before partnering with Bob Darling and management team Private equity (PE) company Livingbridge is looking to pursue more deals in the insurance sector. Speaking exclusively to Insurance Age, Xavier Woodward, partner in the investment team, confirmed they had met with 30 brokers before deciding to back Coversure’s recent management buyout by CEO Bob Darling and team. “This is a big market with lots of players and while we are not looking for another Coversure immediately…

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Video: GDPR – Marketing: what brokers can and can’t do

In the second of a three part series our experts tackle marketing under the new GDPR rules from phone calls and emails to the post. Branko Bjelobaba, founder of consultancy firm Branko Limited and Cheryl Martin, partner in the insurance advisory cyber and GDPR practice at EY analyse what GDPR means for contacting existing and ex-customers as well as targeting new clients. Will brokers be able to cold call potential clients? Can firms still buy in contact lists? Or indeed…

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Aviva’s Townend replaces Amanda Blanc as IFB chair

LV’s Milliner and Matt Patterson, of Admiral and David Baker, of Direct Line, have also been appointed to the fraud taskforce board. Rob Townend, managing director of Aviva UK general insurance, has been appointed chair of the Insurance Fraud Bureau (IFB). The move follows Amanda Blanc leaving her role as UK and Ireland CEO at Axa in order to take up the CEO Europe, Middle East & Africa (EMEA) post at Zurich. She took up her position at the IFB…

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