Property Repair Ltd | Insurance Times - '...we look back at the top stories in UKGI over the past 12 months...'

2013: A year in review 24 December 2013 | By Jessica Reid As Insurance Times goes on break for the rest of 2013, we look back at the top stories in UKGI over the past 12 months From job cuts to consolidations, new chief executives and price fixing scandals, 2013 has been a busy year for the UK general insurance industry. Here Insurance Times takes a look at some of the biggest stories this year.   January AXA tops the list of world's biggest insurers by net written premium. UnitedHealth Group and Japan Post Insurance Company round out the top three. Gibraltarian police investigate the collapse of De Vert Insurance – the third insurance company to go bust in the tax haven in almost as many months. UK motor insurers faced rate hikes andfurther cuts in reinsurance capacity at the 1 January 2013 renewals. February QBE announces plans to cut 700 jobsacross America, Europe and Australia as it moves some of its back-office operations to Manila and Bangalore. Insurers pay out the largest ever sum for a car crash repair to fix Rowan Atkinson's £3m McLaren F1. Direct Line Group hit by price fixing allegations as two firms complain about its conduct to the OFT. The biggest investigation by the Insurance Fraud Enforcement Department since its launch sees a fraudster plead guilty to selling hundreds of non-existent car insurance policies to drivers across the UK.   March The Co-op's general insurance business is put up for sale for an asking price of £600m. In the same month the group also sells its life arm to Royal London for £219m. Aon announces exclusive deal with Berkshire Hathaway, which sees the broker automatically allocate 7.5% of all business it places at Lloyd's to Berkshire Hathaway. Aviva pulls out of Willis Networks' insurer panel after deciding not to renew existing agreement. The insureralso pulls out of SME professional indemnity this month. The FSA finishes its probe into brokers' premium finance deals, but will not take further action provided that intermediaries are transparent. April The Jackson reforms come into play on 1 April to control the spiralling costs associated with personal injury claims. The reforms ban referral fees, change the no-win no-fee arrangements, and extend the RTA Portal among other things. The FSA is replaced by new regulators: the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Read our exclusive interview with incoming FCA chief executive Martin Wheatley here. Aviva announces plans to cut 2,000 jobs in the UK, Europe and Asia in the next six months. In the same month, intermediary and partnerships director Janice Deakin resigns to take up a role at Arthur J Gallagher.   May Aviva posts solid Q1 results, but Zurich does better. Read our analysis here. In the same month Aviva also confirms that 600 jobs will be moved to India, while its bosses are criticised for its executive pay deals. Towergate Q1 profit dips 2% as network woes persist. The total amount of UK motor insurance premium fell £200m in 2012to £13.1bn, according to Deloitte, confirming the struggles of the market. June The ABI and the government agree to implement Flood Re as a replacement for the expiring Statement of Principles. Aviva is to cut 650 permanent jobs across the UK as part of its previously announced staff reductions. More than 300 contractor roles also cut. Four in 10 travel insurance claims fraudulent, says VFM.   July Insurance Times launches its firstInsurance Monitor analysing the commercial lines performance of the UK's top insurers. Aviva announces further plans to axe 13 UK branches and 80 broker-facing jobs. Catlin begins job cuts across regional offices. ABI figures place value of fraud in the UK at £21m a week. A week earlier, theSentencing Council also opens a review of its guidelines for those convicted of fraud. Sir Elton John cancels gig and triggers £10m insurance claim. August Who are 2013's Top 50 Brokers in UKGI?We reveal them here. QBE Europe profit drops 40% as a result of catastrophe claims and competition. Insurance Times analyses the latest developments in telematics in a 60p reportInsurance Monitor: Telematics In Motor Insurance. The cost of fraud to European insurers is estimated to be £10bn.   September Aviva UK & Ireland chief executive Robin Spencer leaves the insurer and is replaced by Maurice Tulloch. Spencer is the fifth Aviva UK boss to leave in the past seven years. Sterling holds onto its crown in this year's Broker Service Survey for commercial lines, while Hiscox tops personal lines. Cash for crash gang found guilty ofsubmitting 26 fraudulent claims for whiplash injuries, worth more than £250,000.   October The Insurance Times and ZurichBrokermind competition comes to a close with Knightsure managing director Tony Knight taking out the title of the Best Brain in Broking. St Jude storm hits and the damage estimates put insurance costs of up to £830m, but the event is still unlikely to stop home insurance premiums falling. Insurers half-year results are analysed in the Insurance Monitor: First-half financial performance report. Towergate sells its commercial property underwriting team to a new London market consolidator backed by Peter Cullum and managed by former Willis chief exeuctive David Margrett Organised crime gangs tops list of fraud concerns for insurance industry, according to Insurance Times survey   November Arthur J Gallagher completes £233m Giles buy, and names Brendan McManus as UK retail chief executive. The definitive list of the Top 50 Insurersin UKGI by GWP is released. The FCA reveals its next possible areas for thematic reviews are commercial claims, coverholder arrangements and distribution chains. The Insurance Times and Aviva IT Pack finale takes place at Silverstone race track, with Firth & Scott's Stevie Ridgley taking out the title of IT Pack Member of the Year. Insurance Times launches The Fraud Report 2013, providing a comprehensive snapshot of the fraud issues facing UKGI. Aviva puts a book of distressed UK property holdings worth about £400mup for sale. Insurance Monitor: Cyber Insurance is released as a comprehensive summary of the key players and trends in the rapidly-changing cyber insurance market.   December AXA's Amanda Blanc and Hiscox's Henry Englehardt are two of the top winners at this year's Insurance Times Awards. Read our digital edition with all of the winners here. RSA group chief executive Simon Lee resigns after the insurer issues its third profit warning within six weeks. Lloyd's announces its new chief executive Inga Beale, who becomes the first female chief executive at the helm. She will succeed Richard Ward and begin in January 2014. Competition Commission releases its findings of a probe into the private motor insurance market, reporting that ineffectiveness in the market is costing consumers up to £200m a year.

Head Office: 52 Montrose Terrace, Edinburgh EH7 5DL Telephone: 0131 478 3391 Web: PropertyRepairUK.com Check Us Out on Facebook

Property Repair Ltd based in Edinburgh successfully carries out, Insurance Repairs, Renovations and Property Maintenance throughout Central Scotland. Property Repair are Approved & Accredited by All Major Proactive Insurance Companies, Loss Adjusters, Building Repair Networks & Property Managers. Property Repair Ltd, 52 Montrose Terrace, Edinburgh EH7 5DL /