To view our current news items, please have a look at our Insurance News.

MARCH 2005

On-Line Motor and Travel Insurance

Hine Insurance Brokers Ltd have launched web sites providing on-line quotations and immediate cover for motor and travel insurance. The sites can be viewed at hinemotorinsurance.co.uk and hinetravelinsurance.co.uk respectively.

DECEMBER 2004

Hinesight Winter Edition Released

The winter edition of our Hinesight newsletter is now available to download containing articles and advice on:

• The Control of Asbestos at Work Regulations
• Business disaster recovery planning
• Ensuring your household insurance is suitable for your requirements
• The forthcoming regulation of general insurance by the Financial Services Authority

NOVEMBER 2004

FSA Grant Of Permission

Hine Insurance Brokers Ltd have now received formal confirmation of FSA authorisation effective from 14 January 2005 and a copy of our Grant of Permission letter is available to download.

JULY 2004

Hine Insurance Sponsors CII Manchester Examination Prize

Hine Insurance Brokers Ltd place great emphasis on ongoing training and development for all members of staff. In addition to attendance of external courses and regular computer based training, all employees are actively encouraged to sit the Chartered Insurance Institute (CII) examinations.

As a further demonstration of our commitment we have entered into a 3 year agreement with the Insurance Institute of Manchester to sponsor a prize for the best performance in the CII's Advanced Diploma subject Insurance Broking.

JUNE 2004

Hinesight Summer Edition Released

The summer edition of our Hinesight newsletter is now available to download featuring articles on:

• Employers' liability claims

• The benefits of continuity of insurance company

• The true cost of crime

• New legislation on the use of mobile phones whilst driving

APRIL 2004

Hine Insurance Brokers are pleased to announce the acquisition of the "book" of business of Carter Brown (Insurances) Ltd.

The Carter Brown name and all of the staff have been retained and will continue to operate from the existing office in Bolton. Contact details are as follows:

• Tel: 01204 391637
• Fax: 01204 365558
• E-Mail: info@carterbrown.co.uk

Axa's guidance booklet on the revised Control of Asbestos at Work Regulations (2002) is available to download from our web site.

Hine Insurance Brokers have completed a major IT upgrade and have deployed the market leading Acturis insurance software combined with a new Windows 2003 SBS based network.

The new system will facilitate straight through quote and policy processing (across all classes of business) with leading insurers, avoiding the need for re-keying of data and speeding up the issue of policy documentation. 

The winter edition of our Hinesight newsletter is now available to download featuring articles on:

• Insurer solvency ratings

• Control of Asbestos at Work Regulations 2002

• Policy wordings and warranties

Insurance company Fortis is facing a record payout of around £50 million after an inquest ruled victims of the Selby rail crash were unlawfully killed. Six passengers and four railway employees were killed in the disaster in 2002.

Royal & Sun Alliance has indicated that it will be cutting 1,000 jobs as a number of functions are outsourced over the next 12 months.

The insurer has also announced a discounted rights issue to shore up its balance sheet. A similar plan was shelved less than a year ago after failing to gain shareholder support. 

Effective from 11 July 2003 The Underwriter Insurance Company has ceased writing new business and been placed into solvent run-off.

In a statement the company said:

"Effective as of 11 July 2003, the Directors of The Underwriter Insurance Company ("The Company") have decided to cease underwriting new contracts of insurance. In coming to this decision the Company has taken into account action taken by the FSA in which the FSA and the Company concluded that the Company's capital resources would fall short of the Threshold Conditions if the Company continued to effect new contracts of insurance.

"At the present time, the Directors have concluded, on the basis of information currently available, that the run off will be solvent and as such the Company anticipates that it will continue to meet in full all valid claims."

The latest issue of SME News Brief is now available to download featuring bite-size articles on topical issues affecting small businesses.

The latest edition of our Hinesight newsletter is now available to download featuring articles on:

• Current insurance market conditions

• Alterations in terrorism cover

• The hazards of engaging sub-contractors

• Directors & officers liability insurance

Hine Bridal are delighted to have won the supplier performance survey carried out amongst members of the Retail Bridalwear Association for the 3rd time in 4 years. The Association's members awarded a rating of 93% for courtesy and 89% for reliability.

The latest issue of SME News Brief is now available to download featuring articles on the difficulties being encountered by many businesses in obtaining employers' liability insurance.

Following a careful selection process Hine Bridal are pleased to announce that their market leading Bridalsure and Formalsure schemes have been transferred to Royal & Sun Alliance. Utilising Royal & Sun Alliance's Enterprise facility will enable a prompt turn-around of quotations and policy documentation together with an interest free instalment facility. In addition the schemes incorporate:

• A discounted rating structure

• Automatic cover at trade exhibitions attended

• "New for old" cover in respect of hire stock

• "Non-return by hirer" cover

• An extended seasonal increase in the stock sum insured

To request your free quotation, please click here.

Hinesight Winter Edition Released

The latest edition of our Hinesight newsletter is now available to download featuring articles on:

• Current insurance market conditions

• Health & Safety

• Professional indemnity insurance

• Business continuity planning

In view of impending industrial action by the fire service, Hine Insurance Brokers have produced a safety bulletin outlining practical measures which can be taken to minimise the risk to your home or business. Click here to download your free copy of the bulletin.

As a Premier Partner of Axa Insurance, Hine Insurance Brokers are pleased to be able to offer clients an SME News Brief providing the month's SME news at a glance. The document is available to download from our web site and will be updated regularly with market information relevant to your business.

Legal & General, Royal & Sun Alliance and Zurich Financial Services will ask investors for at least £3.22 billion as their investment losses mount and shares plunge. According to analysts declining reserves are curbing the ability of insurers to underwrite new policies leading them to seek additional capital from shareholders.

Royal & Sun Alliance group chief executive Bob Mendelsohn has resigned following pressure from shareholders over the insurer's poor performance and the lack of progress on disposals. 

The British Insurance Brokers' Association (BIBA) is leading a campaign to combat the difficulties faced by many small businesses who are either trading illegally or face closure because they either cannot obtain employers' liability insurance or they cannot afford soaring insurance premiums. An in-depth article summarising the difficulties encountered by companies and the action being taken by BIBA and the Association of British Insurers (ABI) is contained in the Financial Times (8 August edition).

The RAC predicts that motor insurance premiums could rise by £50 per annum under EU proposals to make drivers liable for accidents with cyclists.

Under the proposals contained in the EU's Fifth Motor Insurance Directive drivers' insurers would have to pay out, regardless of which side was at fault, for cyclists' medical and repair costs.

Hine Insurance Brokers have extended their service to clients by entering into a partnership agreement with Broker Network Motoring.

For a modest joining fee clients will be able to benefit from a wide package of Broker Network Motoring discounts and services including:

• Discounted rates for new and used cars

• Access to a nationwide vehicle service and repair network with online and telephone booking

• Online access to car and service history

• Route planning

• Motoring news and reviews

• Accident management including uninsured loss recovery

According to a report by market analyst Datamonitor motor insurance premiums are set to stabilise in 2002 after several years of increases. In the past 3 years comprehensive premiums have increased by an average of 53% and third party, fire & theft premiums have increased by an average of 78%.

Hine Insurance Brokers have produced a newsletter entitled Hinesight designed to keep our commercial clients up-to-date with current insurance and risk management news.

Hinesight will be published twice a year and will automatically be distributed to all commercial clients. Copies will also be available to download from our web site.

Lloyd's of London have reported a record £3.11 billion loss for 2001 including a £1.98 billion net loss from the World Trade Centre disaster.

The bottom quartile of Lloyd's syndicates were responsible for two-thirds of the losses from 1999 to 2001. The number of syndicates has more than halved from 179 in 1999 to 86 today and further casualties are predicted.

With assistance from Zurich Commercial, Hine Insurance Brokers have produced a single page document summarising the various factors leading to rate increases and the classes of insurance affected. Rate Increases Explained is available to download. Please contact us if you require more detailed information.

London based department store Selfridges has reported a 375% increase in its insurance premiums following the 11 September terrorist attacks. The store's material damage and business interruption premiums have reportedly risen from £400,000 to £1.9 million.

The overall cost to UK employers of work related accidents and ill health is estimated to be between £3.5 billion and £7.3 billion per annum. This equates to between 4% and 8% of all UK companies' gross trading profits and presents a powerful argument for a proactive approach to risk management.

From an insurance perspective insurance companies are increasingly looking to reward businesses with an effective loss control programme. Whilst many larger companies already have the necessary resources and expertise to implement such a programme, smaller companies may have neither the technical skills nor the access to risk management information.

As a Premier Partner of Axa Insurance, Hine Insurance Brokers are able to offer the following guides which, we believe, will be of considerable benefit to SMEs in establishing a loss control programme:

• Risk Management For SMEs (2.25MB)

• Peace Of Mind For You & Your Tenants

• Arson - Don't Let It Wreck Your Business

• Vandals, Arsonists & Thieves - Don't Make It Easy For Them

In addition to the above guides we are also able to offer a full range of risk management services including risk assessments and development of loss control programmes and disaster recovery plans. Please contact us if you require further details of these services or if you require more in-depth literature in respect of specific risk management issues.

Following the successful re-launch of the WeddingSure scheme Hine Bridal are delighted to have been chosen as the preferred wedding day insurance provider to tour operator Kuoni.

Kuoni arrange weddings in 150+ exciting locations around the world, from Sydney to New York, from the idyllic islands of the South Pacific to the exotic islands in the Indian Ocean. They have the most comprehensive selection of overseas weddings in the UK market and, for the last 4 years, have won the World Travel Award for the World's Leading Tour Operator.

Hine Bridal are pleased to announce a re-launch of the popular WeddingSure scheme.

WeddingSure is one of the country's leading wedding day insurance policies and cover has recently been transferred to UK Insurance Ltd - a subsidiary of the Green Flag Group.

In addition to an improved policy wording the policy limits have been increased and marquee cover is now available as an optional extension.

New .biz Domain Name Secured

Hine Insurance Brokers are delighted to have secured the new top level domain name hine.biz.

In addition to hine.biz our web site can also be accessed using hine.co.uk, insurancebroker.co.uk, hinebridal.com, breakdown.co.uk, legalpi.co.uk, hineinter.net and Internet Keyword hine.

DECEMBER 2001

The Financial Services Authority is to take over the regulation of general insurance products effective from 2004.

The decision is likely to spell the end of the existing voluntary regulator, the General Insurance Standards Council.

Hine Insurance Brokers are currently voluntary members of the General Insurance Standards Council and have previously been members of the Insurance Brokers Registration Council. We will be seeking to register with the FSA at the earliest possible opportunity and welcome any measures to increase standards across the insurance industry.

The Lloyd's of London insurance market is set to write a record level of business in 2002.

Having secured additional capital from it's backers the market has underwriting capacity amounting to approximately £12.3 billion for 2002 - an increase from approximately £11 billion in 2001.

NOVEMBER 2001

Working in conjunction with BIBA, Hine Insurance Brokers have produced a Market Update for the benefit of clients.

The document summarises the present position of the insurance market and takes into account the collapse of Independent Insurance and the terrorist attacks in the United States. A copy of the Update is available to download by clicking on the link above. Alternatively, if you require a hard copy sending, please e-mail us.