Europe Intelligence Wire articles from July 2004

Europe Intelligence Wire archives from July 2004

News - Unregulated travel tops complaints.
July 1, 2004... (From Post Magazine) The Financial Ombudsman Service has reported a 33% increase in travel insurance complaints and a 19% increase overall, according to its annual review for the year ended 31 March 2004. In the general insurance...

News - MP calls for claims protocol.
July 1, 2004... (From Post Magazine) The chairman of the All Party Parliamentary Group on Financial Services, John Greenway MP, has called on the insurance industry to meet with local authority representatives to develop a protocol for what to do in the...

News - Claims Direct stages an insurance comeback.
July 1, 2004... (From Post Magazine) Byline: Stephanie Denton. One of the leading claims management brands and former bane of the insurance industry, Claims Direct, is set to be relaunched in September, two years after the collapse of the original...

News - Marsh creates SME think-tank.
July 1, 2004... (From Post Magazine) Byline: Guy Anker. The battle for the regional middle-market commercial broking business intensified this week, with Marsh announcing plans to create an eight-strong think-tank to ensure best practice across the...

News - Biba offers to step in over Zurich row.
July 1, 2004... (From Post Magazine) The British Insurance Brokers' Association has offered to intervene in the row over Zurich's decision to cancel its agency with broker Folgate, if asked. Following a meeting between the two parties this week to...

News - Small players set to feel the squeeze as rivals 'offshore' insurance jobs.
July 1, 2004... (From Post Magazine) Byline: Ana Paula Nacif. Smaller insurers may have to reconsider their operations as they come under increasing pressure from rivals with offshore operations, according to the author of a new report on the subject....

News - Simplified CFAs and new regulations by year's end.
July 1, 2004... (From Post Magazine) Byline: Ana Paula Nacif. Conditional fee agreements should be simplified and a new set of regulations introduced by the end of the year, according to proposals by the Department for Constitutional Affairs. ...

News - Faculty of Claims goes live.
July 1, 2004... (From Post Magazine) The Faculty of Claims, the new forum for the insurance industry's 100,000-strong claims community, was formally launched by the Chartered Insurance Institute and the Chartered Institute of Loss Adjusters this week....

News - Hiscox enters new PI sector.
July 1, 2004... (From Post Magazine) Hiscox is aiming to capture 25% of the new professional indemnity market for secondary insurance intermediaries, such as dentists, vets and motor traders with a new product launch. Its move follows a similar endeavour...

News - Kwik-Fit owner in AA bid.
July 1, 2004... (From Post Magazine) The owner of one of AA Insurance's main broking rivals has emerged as one of the front runners to buy the whole motoring organisation from Centrica. CVC Capital Partners, the private equity group that already owns...

News - Bric slams insurers over CSR.
July 1, 2004... (From Post Magazine) The Body Repair Industry Campaign has launched a scathing criticism against insurance companies for refusing to pay attention to fair and transparent working practices, despite pledges to incorporate corporate social...

News - Lloyd's chief executive speaks at annual conference.
July 1, 2004... (From Post Magazine) Lloyd's chief executive Nick Prettejohn this week said he will do everything possible to ensure that the London Market makes money once rates fall, but that he 'cannot guarantee' it. Speaking at the Association of...

News - Alea promotes Mark Ricciardelli.
July 1, 2004... (From Post Magazine) Alea has promoted Mark Ricciardelli from group president and chief operating officer to group president and chief executive officer with immediate effect. Mr Ricciardelli has also been appointed an executive director...

News - Specialist claims firm venture plots growth.
July 1, 2004... (From Post Magazine) The Loss Management Group has set up a specialist art and antiques unit in response to what it perceives is a growing demand for specialist claims management and fraud control services. The unit is part of the...

News - FSA warned over broker levies.
July 1, 2004... (From Post Magazine) Byline: Ana Paula Nacif. The Institute of Insurance Brokers has threatened to take the issue of brokers paying a compensation levy to parliament if the Financial Services Authority refuses to back down over its...

News - Halifax pilots TV push.
July 1, 2004... (From Post Magazine) Halifax General Insurance this week launched a television campaign for its household products in an effort to grow the business. David Norton, senior marketing manager for Halifax General Insurance, said: "We are...

News - ABI renews pressure over flood spending.
July 1, 2004... (From Post Magazine) The Association of British Insurers has stepped up its lobbying in an effort to convince the Treasury not to cut spending on flood defences in its review, set to be published later this summer. Last week, the ABI's...

International News - NAIC calls for TRIA extension.
July 1, 2004... (From Post Magazine) The National Association of Insurance Commissioners has urged Congress to adopt a two-year extension of the Terrorism Risk Insurance Act. NAIC said the extension was necessary in order to avoid market uncertainty...

International News - RS Group buys into Lloyd's broker.
July 1, 2004... (From Post Magazine) Toronto-based broker the RS Group has acquired 49% of the issued share capital of Lloyd's broker Dashwood, Brewer & Phipps. The Canadian company expects to receive more than $4m (GBP2.2m) annually in minority income as...

International News - Willis acquires market leader.
July 1, 2004... (From Post Magazine) Byline: Guy Anker. Broking giant Willis has said its acquisition of Coyle Hamilton will enable the Irish intermediary to grow with the aid of its global resources. Willis, with a presence in more than 80...

International News - Lloyd's hit by bogus cover.
July 1, 2004... (From Post Magazine) An investigation into bogus excess liability trucking insurance that was sold using the Lloyd's brand, when no cover actually existed, has been launched in the US and UK. The policies allegedly originated from...

Post Events - Winning the fraud war.
July 1, 2004... (From Post Magazine) Fraud: Fighting the Battles, Winning the War 22 September 2004 - Haberdashers' Hall Post Magazine's popular annual conference looking at the problem of fraud, the public policy issues it raises, and the latest...

Postbox - New compliance regulation brings opportunity.
July 1, 2004... (From Post Magazine) I would echo many of the comments made in the recent article about compliance with regulations like Solvency II (PM, 24 June 2004, p6). In fact, in our experience, the market is keen to realise the opportunities...

Post Events - Autumn: PM conferences.
July 1, 2004... (From Post Magazine) Business Continuity Planning: 20 October Planning for disaster is not always the most popular boardroom topic but it is vital for every business. Identifying the issues, creating the solutions and then...

Postbox - Honest claimants have little to fear over cognitive interviews.
July 1, 2004... (From Post Magazine) Detica's Richard Love is misguided if he feels that honest claimants are dropping their claims because of the use of cognitive interviewing ('Insurers should be wary of cognitive reliance', PM, 24 June 2004, p4). ...

Comment - Major players hope to convince big is beautiful.
July 1, 2004... (From Post Magazine) A month ago, Post Magazine reported findings from the Association of British Insurers that claimed national and international brokers had seen a significant drop in their market share of the UK commercial market. ...

Post Events - Your Money Direct Awards.
July 1, 2004... (From Post Magazine) The winners of the seventh Your Money Direct Awards - covering phone and Internet - were announced last week. The providers are voted for by panels of readers of Your Money magazine and are designed to recognise...

View from the Top - Network Mania - the bubble finally bursts.
July 1, 2004... (From Post Magazine) Byline: Andrew Holman, chief executive at Holman's. With just two weeks to go before the Financial Services Authority application deadline, it seems the network bubble has well and truly burst - with a deafening...

Comment - New Claims Direct out to prove a point.
July 1, 2004... (From Post Magazine) And so, out of the ashes of Claims Direct, New Claims Direct is born. This week, law firm Russell Jones & Walker confirmed plans to relaunch the leading claims management brand in September (see p1). To some...

Commercial Legal Expenses - The key to CLE.
July 1, 2004... (From Post Magazine) The commercial legal expenses market is vastly undersold and insurers should encourage and educate brokers to market the cover more intelligently. This was the call made last year by Peter Dobie, underwriting...

Interview - Widening the net.
July 1, 2004... (From Post Magazine) Cadogan Insurance Services formally merges with Deacon Insurance Services today, with the combined company having the ambitious stated goal of becoming the leading property broker in the UK. Cadogan chairman David...

Space & Satellite - Sleeping satellite.
July 1, 2004... (From Post Magazine) Few lines of insurance seem to echo the reality of the risks covered as directly as the space insurance market. The failure of a rocket on take-off, or of an array of satellites, could cost insurers up to $400m...

Life Insurance: Obesity - Fat: more than a feminist issue.
July 1, 2004... (From Post Magazine) Obesity has been reported as a national epidemic in recent months, with figures revealing nearly two-thirds of men and half of women are overweight or obese. The government is so concerned that it has started to tackle...

Cycle Management - Cycle proficiency.
July 1, 2004... (From Post Magazine) Commercial lines insurance has always been a cyclical business, with downturns producing massive losses that cannot be recovered when the market picks up. However, there have been few attempts to buck the trend, and...

Disability Discrimination Act - Access all areas.
July 1, 2004... (From Post Magazine) Byline: Sheena Lindegaard, head of Lawphone at Allianz Cornhill Legal A date that resonates with confusion for many businesses and service providers is 1 October. From this date they are legally obliged, under...

Law Reports - Commentary - Shake-up will see end of 100% success fee.
July 1, 2004... (From Post Magazine) Byline: Adam Lidster, BLM London. From 1 June 2004, all road traffic accident cases that occurred after 5 October 2003, and which are funded by conditional fee agreements, are subject to a fixed success fee of...

Law Reports - Signing party must have clear authority.
July 1, 2004... (From Post Magazine) The case concerns the fitting out of toilet blocks at Merrill Lynch. ML created two companies: the defendant, MLEP, to supervise the development and Mace to act as construction manager. MLEP entered into a...

Law Reports - Appeal granted after new evidence comes to light.
July 1, 2004... (From Post Magazine) The Court of Appeal gave permission to appeal where one party alleged the other party had perpetrated a fraud in giving false evidence at trial. Couwenbergh, a beneficiary under a previous will, disputed the validity...

Law Reports - Welcome decision for insurers.
July 1, 2004... (From Post Magazine) This was a decision by Mr Justice Davis on a preliminary issue as to whether a claimant is entitled to recover the cost of investment advice incurred in the management of his damages. The judge decided such a claim...

Career Path - CII launches new uni.
July 1, 2004... (From Post Magazine) Byline: Jonathan Swift. The Chartered Insurance Institute and Cass Business School have teamed up to create an 'insurance university' in an effort to improve the performance of the management talent in insurance...

Career Path - Careers clinic.
July 1, 2004... (From Post Magazine) Q: Is it a good time to be looking for a new position in the broking market? A: The broking market is positively buoyant at the moment, with many opportunities available across the board. In fact, there has never...

Career Path - THB helps international training programme.
July 1, 2004... (From Post Magazine) THB Group has been chosen by the National Association of Professional Surplus Lines Offices, an international organisation representing the surplus lines industry, to host this year's JH Blades Memorial Scholar. ...

Career Path - Path to success: Contingency Underwriter.
July 1, 2004... (From Post Magazine) Who did you start your insurance career with and what did you learn from that employer? I graduated from Loughborough University in 1994 and was taken on by ME Warrington Syndicate 1069 as its graduate trainee in...

Events - Post Events.
July 1, 2004... (From Post Magazine) 5 July General Insurance Standards Council compliance session - Competence and Training Cannon Street, London Tel: 020 7648 7817 6 July General Insurance Standards Council compliance session -...

People - Appointment at Bridge Insurance Brokers.
July 1, 2004... (From Post Magazine) Bridge Insurance Brokers has promoted Vaughan Rudd to director and appointed him to the board. Mr Rudd joined the company 10 years ago. His new responsibilities include co-management of operations, project management...

People - Appointment at Zurich.
July 1, 2004... (From Post Magazine) Zurich has promoted Martin Clark to head of Global Energy London and Nick Hodges to international energy property director in its business unit. Mr Clark was previously claims manager for Zurich Global Energy London....

People - Appointment at Garwyn.
July 1, 2004... (From Post Magazine) Garwyn has promoted Kevin Foakes and Simon Hiscock to the position of regional claims manager. Mr Foakes will be responsible for the Durham, Manchester and Mold offices, while Mr Hiscock will take charge of the...

People - Appointment at Keoghs.
July 1, 2004... (From Post Magazine) National law firm Keoghs has promoted four new associates at its Bolton office: solicitors Neena Sharma and Fiona Dillon, and litigation executives Louise Mulligan and Alan Chisnall. Ms Sharma joined Keoghs in 1999 and...

Postscript - What the papers said this week.
July 1, 2004... (From Post Magazine) Daily Mail The wash-out at Wimbledon on the first Wednesday at the All England Championships last week cost insurers GBP1m in refunds. It was the first complete wipe-out since 1999. However by 2009, when work on a...

Postscript - Penny Black's insurance week.
July 1, 2004... (From Post Magazine) It is nice to know that the bastion of the UK insurance industry, the Chartered Insurance Institute, is so safety conscious. While there the other day, one saw someone using the new London travel card - the Oyster Card...

Postscript - Gibraltar faces legal battle over tax laws.
July 1, 2004... (From Post Magazine) Byline: Stephanie Denton, in Gibraltar. Gibraltar Chief Minister Peter Caruana this week claimed he is confident the territory will continue to attract UK insurance companies with its favourable tax environment for...

-Q4 2004 General Mills, Inc. Earnings Conference Call - Abstract.
July 1, 2004... (From Corporate Conference Call Abstracts) CORPORATE CONFERENCE CALL ABSTRACTS-30 June 2004-Q4 2004 General Mills, Inc. Earnings Conference Call - Abstract (C)2004 Research and Markets (http://www.researchandmarkets.com/). The General...

-Commission may force France Telecom to pay millions in back taxes.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-Commission may force France Telecom to pay millions in back taxes (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. The European Commission is set to demand France Telecom...

-BBC outlines digital future.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-BBC outlines digital future (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. The UK state broadcaster, the BBC, yesterday outlined its vision of how it should operate and...

-BT slashes broadband subscriptions by up to 25%.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-BT slashes broadband subscriptions by up to 25% (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. UK incumbent telco BT has announced it is to slash the price of its...

-Wimbledon.org offers tennis video subscription service.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-Wimbledon.org offers tennis video subscription service (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. The All England Lawn Tennis Club is to offer replays of Wimbledon...

-Opera joins browser plug-in alliance.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-Opera joins browser plug-in alliance (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. Opera Software today announced it has joined an alliance with Mozilla, Apple,...

-Bulgarian operators, national prosecutor, take regulator to court over GSM licence brou-ha-ha.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-Bulgarian operators, national prosecutor, take regulator to court over GSM licence brou-ha-ha (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. Bulgarian mobile operator...

-Nokia to launch N-Gage QD in Turkey next month.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-Nokia to launch N-Gage QD in Turkey next month (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. Nokia has announced that the latest version of its mobile gaming platform,...

-DemonWare launches BitDemon 1.0.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-DemonWare launches BitDemon 1.0 (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. Network software company DemonWare has announced the release of BitDemon 1.0 netcode for...

-NetCom deploys EDGE to fill 3G gap.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-NetCom deploys EDGE to fill 3G gap (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. Norwegian mobile operator NetCom has announced it is to increase the speed of the roll...

-German regulator cuts local loop access tariffs.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-German regulator cuts local loop access tariffs (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. The German telecoms regulator has announced reductions to the tariffs for...

-Essent Kabelcom opens cable infrastructure to KPN.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-Essent Kabelcom opens cable infrastructure to KPN (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. Dutch cable provider Essent Kabelcom has announced it is to open its...

-BT blocks auto-diallers.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-BT blocks auto-diallers (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. UK telco BT announced on Tuesday that it intends to block premium rate phone numbers used by modem...

-SES Astra acquires 75% stake in DPC.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-SES Astra acquires 75% stake in DPC (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. Broadcast and satellite solutions provider SES Astra has signed an agreement to...

-BBC manifesto a welcome buttress against privatisation.
July 1, 2004... (From DMEurope) DMEUROPE-30 June 2004-BBC manifesto a welcome buttress against privatisation (C)2004 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved. On the occasion of the release of the BBC's manifesto outlining its...

News in Brief: Dubrovka Suit Rejected.
July 1, 2004... (From The Moscow Times) MOSCOW -- A Moscow court has rejected a million-dollar lawsuit filed by former Dubrovka hostage Yelena Burban over the death of her American husband in the theater siege and injuries she suffered, Mosnews.com...

Czech press survey.
July 1, 2004... (From Czech News Agency) PRAGUE, July 1 (CTK) - The fresh resignation of Vladimir Spidla's cabinet is nothing dramatic, but still some may feel anxious about the times ahead of the Czech Republic, Pavel Tomasek writes in the daily...

In our story Czech-government-resignation-Spidla-2nd version.
July 1, 2004... (From Czech News Agency) issued at 00:29 please read the date correctly...July 1...instead of...July 2. CTK/Export ---------------------------------------------------------------- Spidla announces resignation to govt, will hand it in...

Ombudsman might be able better to protect people in prison.
July 1, 2004... (From Czech News Agency) PRAGUE, July 1 (CTK) - The office of ombudsman, citizens' rights public protector, might gain more powers in protecting people staying in prisons, homes for mentally handicapped people and similar institutions,...

Yukos Refuses to Pay Full Bill.
July 1, 2004... (From The Moscow Times) Yukos is refusing to pay the $3.4 billion tax bill that the Moscow Arbitration Court upheld in a landmark ruling earlier this week and is proposing to pay one-third of that sum instead, a source close to the company...

Tax Cops Raise Curtain on Film Studio.
July 1, 2004... (From The Moscow Times) Olga Darfi was fresh out of film school when she got what she thought was her big break -- an offer from a famous producer to direct a new action movie. Shortly after she graduated from Russia's premier film...

Closed Trials Open to Lukin.
July 1, 2004... (From The Moscow Times) In a series of rulings concerning the Criminal Procedures Code, the Constitutional Court has ordered Russian courts to allow the human rights ombudsman to attend closed trials. The ruling is a victory for human...

Intelligentsia Get a Statue.
July 1, 2004... (From The Moscow Times) A new statue of a winged horse dedicated "to the Russian intelligentsia" has attracted puzzled reactions, with one of its sculptors saying the statue depicts intellectuals as "spongers." Alfa Bank and the Union...

Woman Strangled Over Spy Fears.
July 1, 2004... (From The Moscow Times) City Crime Statistics June 23 June 29* CrimeTotalSolved Murder105 Assault1610 Robbery18877 Rape76 Theft (total)750171 Apartment burglaries19910 Car theft4718 For the...

News in Brief: New Visa Hours.
July 1, 2004... (From The Moscow Times) MOSCOW -- The passport and visa departments at Moscow police stations switch to new hours starting Thursday, a police spokesman said. Under the new schedule, the departments will be open from 8:30 a.m. to 5:30...

Deripaska Loses UES Board Bid.
July 1, 2004... (From The Moscow Times) ZELENOGRAD, Moscow Region -- Metals tycoon Oleg Deripaska failed in his bid to be elected to the board of Unified Energy Systems, headed by his rival Anatoly Chubais. The new 15-member board voted in at the UES...

World Bank Upbeat Despite Oil Worry.
July 1, 2004... (From The Moscow Times) The economy is becoming less dependent on oil and gas, but not fast enough to meet President Vladimir Putin's goal of doubling gross domestic product by 2010, the World Bank said Wednesday. While manufacturing...

Business in Brief: TV Ad Rates Jump.
July 1, 2004... (From The Moscow Times) MOSCOW -- Television ad rates will grow by roughly a quarter next year, according to a new price list sent out by ad giant Video International, Kommersant reported Wednesday. Video International, which handles...

Confidence Ends 3-Month Climb.
July 1, 2004... (From The Moscow Times) Business confidence fell in June on concerns over a potential banking crisis and the appearance that the Yukos affair was coming to a head. The MT Business Confidence Index, compiled from a pool of managers and...

Eavesdropper Soldiers On With Russian Law.
July 1, 2004... (From The Moscow Times) Of the various reasons for a person to take up studying Russian, perhaps one of the most unique is serving in a West German military unit charged with monitoring radio transmissions between the East German and...

Appointments.
July 1, 2004... (From The Moscow Times) Bovis Lend Lease Bovis Lend Lease Russia/CIS has appointed Lars Schmitt to the new position of operations director. In 1997, Schmitt joined Bovis Lend Lease as a regional manager for South Germany and...

Selling Out Russia's Forests.
July 1, 2004... (From The Moscow Times) Russia is bracing itself for the privatization of its forests. The crucial step in this process will be the new Forestry Code, a draft of which is to be considered by the State Duma in the near future. An initial...

You Have Potential for Much Larger Swedish Investments.
July 1, 2004... (From PARI Daily) Bertil ROTH, Ambassador of Sweden to Bulgaria, tells PARI daily's Konstantin NIKOLOV Your Excellency, what is your assessment of the economic relations between Sweden and Bulgaria? The relations between Sweden...