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Articles about Insurers

Energy firms' security so POOR, insurers REFUSE to take their cash

Underwriters are reportedly refusing to insure energy firms because poor security controls are leaving them wide open to attacks by hackers and malware infestations. Lloyd's of London told the BBC they had seen a surge in requests for insurance from energy sector firms but poor test scores from security risk assessors means that …
John Leyden, 27 Feb 2014
closed_sign shut down under collapsed liquidation

'Petrified' insurers slam wallets shut as more resellers go titsup

The small sequential rise in reseller insolvencies in Q3 - in line with seasonality - will do nothing to calm credit insurers' general uneasiness about the IT sector. Data from credit reference agency Graydon UK, shows 75 channel firms bit the dust during the summer quarter, up from 64 in Q2 but dramatically lower than the 93 of …
Paul Kunert, 23 Oct 2012

WTF is the Internet of Things and how insurers will use it against you

What is "the internet of things" and why should we care? Put simply, the internet of things is a catch-all term for ultra-low-power embedded devices that mostly consist of sensors and control systems. This market segment is expanding rapidly; devices falling into this category will soon outnumber all other types of computers on …
Trevor Pott, 27 Nov 2013
Comet Siding Spring. Pic: NASA

Why did Comet fail? Hint: It wasn't just the credit insurers

Comet's fiscal light was burning less brightly well before OpCapita entered its orbit, but the venture capitalist's involvement snuffed it out entirely. Signs that all was not well can be traced back to 2008, when Comet's profit before tax tumbled from £56m to £25m. In successive years it posted losses of £8m, £3m and finally £ …
Eddie Pacey, 22 Nov 2012
The Register breaking news

Euro court slaps down insurers over gender risks

The European Court of Justice has ruled that insurers should not treat gender as a risk factor when assessing premiums, clearing the way for higher costs for women. And probably men. A Belgian consumer organisation had brought the case, which centred on exemptions from the EU's anti-discrimination directive that allowed …
Joe Fay, 01 Mar 2011

Small-biz bosses: Want staff plans from Obama Care site? See ya in 2014!

The beleaguered US HealthCare.gov portal has been dealt yet another setback: small-business owners will not be able to use the medical insurance marketplace to buy plans for staff for another year. Known as the Small Business Health Options Program (SHOP), the service was supposed to be used by small companies with fewer than 50 …
Shaun Nichols, 27 Nov 2013
The Register breaking news

Calling all banks, insurers and IFAs - do you have an information gap?

We have a new study awaiting your input. It's specific to Financial Services, so if you don't have any involvement in that industry then we thank you, and you can skip this one. We'll be in touch again soon. If you do work in any part of the FS industry, we'd really appreciate your input.... We frequently hear statements like …
Team Register, 09 Nov 2011

Bosses to be banned from forcing new hires to pull personal records

Forthcoming changes to the law will prevent employers, insurers and other organisations from forcing individuals to access personal data held about them by others and reveal the results to the party requesting that information, the data protection watchdog has warned.19 Feb 2014 Changes to the Rehabilitation of Offenders Act, …
OUT-LAW.COM, 21 Feb 2014
The Register breaking news

Insurers must keep employers' liability policies

Insurers will need to maintain a database of all employers’ liability (EL) policies they have written or renewed since 1st November 1999 under proposals published by the Financial Services Authority (FSA) this month. The regulator hopes the new rules will maximise the chances of employees who have suffered workplace injury or …
OUT-LAW.COM, 25 Jun 2010

Credit insurer sets up 'task force' in wake of enormo UK IT biz failures

Trade credit insurer Atradius is setting up a specialist task force to analyse UK channel companies that have a high debt-to-assets ratio or have VC backing in the wake of recent high-profile and costly failures. As world + dog knows, High Street giant Comet hit the wall in December owing creditors £257m, costing the UK …
Paul Kunert, 15 Apr 2013
management procure6

Dixons Retail and Carphone Warehouse mull merger

Dixons and Carphone Warehouse (CPW) today confirmed they are locked in negotiations that may or may not lead to a merger. "These discussions are at a preliminary stage and there can be no certainty that a transaction will be forthcoming," the pair said in a joint statement this morning. As such, no decision has been made …
Paul Kunert, 24 Feb 2014

Misco set to snap up Phoenix's network ops centre AND its staff

Phoenix IT Group is set to offload its network operations centre in High Wycombe to Misco, TUPEing across six staff in the process. The lease on the building is expected to be assumed by direct marketing reseller Misco, which, under the guidance of former Dell exec Pim Dale, is trying to rely less on tin shifting by building a …
Paul Kunert, 14 Feb 2014
closed_sign shut down under collapsed liquidation

Don't wait to check your parachute until you're out of the plane

Business failure and insolvency are so rarely a cheery subject. But it's kinda funny how frequently companies hit by high-value losses almost immediately say "we had insurance", as if to say the loss will not be felt too hard. It’s tempting to boast that your debt is insured when it isn’t: it makes the loss seem less troublesome …
Eddie Pacey, 17 Jun 2013

Care Bears... share: NHS England promises to heal careless data-sharing plans

NHS England is still reeling from accusations that the health service – among other things – allowed a consultancy outfit to pump sensitive patient data onto Google servers. Critics have argued that the apparently carefree and careless approach to sharing hospital records with private companies simply highlighted that a cautious …
Kelly Fiveash, 06 Mar 2014
gavel_judgment_channel

Enta Technologies consults m'learned friends after HMRC spat

Telford-based distributor Enta Technologies is taking legal advice after Her Majesty's Revenue and Customs incorrectly notified the London Gazette that it had issued a winding-up order against the company. The official journal of record yesterday listed the distributor as facing a petition from HMRC, supposedly to be heard on 10 …
Paul Kunert, 30 May 2013

NHS England tells MPs: 'The state isn't doing dastardly things with GP medical records'

NHS England's bosses and the government's health minister came under fire from MPs on Tuesday afternoon over the fudged and delayed plan to store patients' GP-held medical records with other data kept by hospitals in a centralised database. Tim Kelsey, the health service's patients and information national director, admitted to …
Kelly Fiveash, 26 Feb 2014

EU signs off on eCall emergency-phone-in-every-car plan

The European Union's plan to insist every new car on the road by 2015 includes a mobile device that phones home after a crash is set to become reality, after the European Commission signed off draft legislation to enact the scheme. Assent from the European Parliament and Council of the European Union is now required, but little …
Simon Sharwood, 14 Jun 2013
The Register breaking news

Spy under your car bonnet 'worth billions by 2016'

Technology that allows cars to snoop on motorists and tell insurers about their bad driving will form a worldwide market worth $14.4bn (£8.95bn) by 2016, analysts reckon. A new report from Juniper Research suggests intelligent vehicles chock-full of gear for navigating, recording info for insurance purposes, and telling the AA …

World+dog left counting costs: Still can't bury corpse of titsup Brit IT giant 2e2

The administrator of deceased 2e2 appears to have made slow progress in collecting book debts, with tens of millions still outstanding months after the integrator-cum-reseller failed. The latest progress report filed at Companies House today revealed that JP Associates (JPA), previously hired by 2e2 administrator FTI Consulting …
Paul Kunert, 02 Sep 2013
Indonesia's Mudcano. Credit: NASA Earth Observatory

Village-swallowing MUDCANO was no accident, say boffins

In early 2006, miners drilling a new natural gas well in the Indonesian district of Porong struck a problem. Not far from their workings and not long after they did some drilling, hot mud started bubbling to the surface. Lots of hot mud. So much mud that at least 30,000 people were displaced and 10,000 buildings destroyed. …
Simon Sharwood, 24 Jul 2013
Sweatshop with boss, c.1888

Congrats architects, PR bods, toolmakers - you're the new digital tycoons!

There are at least 40 per cent more companies that make up the UK's "digital economy" than any Government estimates, and those companies tend to be considerably more successful than non-digital companies, researchers have found. The study [43-page, 6.2MB PDF], commissioned by Google and produced by the National Institute for …
OUT-LAW.COM, 24 Jul 2013
Yahoo!'s Japanese gene testing instructions infographic

Yahoo! To! Sell! Home! Gene! Test! Kit! In! Japan!

Yahoo! Japan will soon sell genetic testing kits, so its users can figure out if they have a disposition to disease. The Japan Times reports officials at Yahoo! Japan, which was formed as a joint venture between SouthBank and Yahoo! USA, promises the company “... will play only a marketing role and will not handle any data from …
Simon Sharwood, 05 Nov 2012

'Zombie hunter' task force unleashed on the UK tech biz

A special force of crack zombie hunters swings into action today to rid old Blighty of the shuffling scourge of undead firms surviving only to pay the interest on debts. The mission of the task force, whose formation was revealed by The Channel last month, is to build a profile of private equity backed businesses in the IT …
Paul Kunert, 13 May 2013

Fears mount over future of Voyager Networks

Concerns are mounting over the future of Coventry-based Cisco Gold partner Voyager Networks. The unified communications specialist, established in 1993, is already on many distributors' watch lists after posting a string of results that show declining trade and operating losses. But sources claim Voyager has seen its credit …
Paul Kunert, 17 Sep 2012
The Register breaking news

Insurance and IT firms agree rules on sharing price details

Six insurance companies and two IT software and service providers have agreed to change the way price information for motor insurance is shared following concerns that previous practices were violating competition laws. The Office of Fair Trading (OFT) said that the insurers shared price details about future motor insurance …
OUT-LAW.COM, 08 Dec 2011
channel_teaser_money_top

Major Brit IT provider denies turning to fellow resellers after burning up lines of credit

British comms provider Azzurri has rejected suggestions that its finances are so precarious it has been forced it to tap up fellow resellers for product. Azzurri provides various well-known UK firms and government departments with comms and data services, reselling a range of vendor products in the telecomms, networking and …
Paul Kunert, 17 Jun 2013
The Register breaking news

Media phone-hacking? Tip of the iceberg, says leaked police report

A suppressed report from "Britain's FBI" has revealed that the rich, insurance companies, law firms and telecoms companies hired private investigators to run unlawful hacking and blagging campaigns of the type that brought down Rupert Murdoch’s News of the World, according to The Independent. The newspaper reports that the UK's …
John Leyden, 24 Jun 2013
axe_channel_teaser

Comet administrator Deloitte triggers ejector seats under 330 staff

Comet administrator Deloitte has swung the axe for the first time since it was brought in to take control of operations with 330 support staff getting the chop. Biz advisory outfit Deloitte confirmed 99 staff at the Rickmansworth HQ, 53 from the operation in Hull and 42 in the call centre in Clevedon were told of their fate on …
Paul Kunert, 12 Nov 2012
Comet_EV_01

Ailing Comet at last prayers: Cawing of accountants and VCs fills air

Beleaguered bricks and mortar retailer Comet is lurching toward administration with Deloite understood to be waiting in the wings. Parent Kesa Electricals offloaded Comet to OpCapita in November 2011 for a nominal fee of £2 but it was forced to hand over a £63m dowry for working capital purposes and retain the pension scheme. …
Paul Kunert, 01 Nov 2012
reseller_closures

Mini retail empire Micro Anvika implodes, one shop to be shopped

The administrator of Micro Anvika is continuing to trade the operation out of two stores on London's Tottenham Court Road - one of which will close within weeks - as it mulls over offers for the remnants of the retailer. Back in late September, management at the veteran retailer called in business advisory service and insolvency …
Paul Kunert, 12 Nov 2012
hands waving dollar bills in the air

Insurance giant: IT dealers will survive the downturn

The UK boss at credit insurer Euler Hermes reckons that although channel insolvencies may edge up again next year, B2B resellers are in comparatively rude health. The number of IT dealers hitting the wall returned to levels not seen since the dot-com bust during the first half of 2011 and are forecast to remain high as the …
Paul Kunert, 05 Dec 2011
reseller_closures

Micro Anvika goes titsup after Olympics fails to save its shops

The directors at Tottenham Court Road outfit Micro Anvika have called in the administrators after more than 28 years in business, The Channel can reveal. The firm appointed IP and business advisor Re10 on 17 September but continues to trade out of its three premises - two on TCR and one in Newcastle - albeit with fewer staff. …
Paul Kunert, 24 Sep 2012
The Register breaking news

Insurers attacked over Y2K exclusions

A string of top US firms have filed hundreds of millions of dollars worth of millennium bug claims in court against their insurers in a move that threatens to expose the entire industry to billions of dollars in claims. Research published by boutique investment bank Fox-Pitt, Kelton says that three corporates have filed $598 …
Tom Bland, 06 Oct 1999
The Register breaking news

Caldicott: NHS workers should 'have the confidence to share information'

Dame Fiona Caldicott, who is scrutinising the government's plan to hand NHS patient records to private companies, today gave the proposals the thumbs-up - with a few caveats, naturally. The noted psychiatrist's review [PDF] of the data-sharing scheme was published just minutes ago. Her report, drafted in March, follows Health …
Kelly Fiveash, 26 Apr 2013
channel

Micro Anvika forced into cash-only trading

Fears are mounting over the future of veteran Tottenham Court Road retailer Micro Anvika after credit insurers removed cover for suppliers and it was forced to trade on a cash-only basis. The firm continues to pay bills on time but channel sources have questioned whether the pressure on working capital is sustainable following …
Paul Kunert, 14 Nov 2011
The Register breaking news

OFT restricts use of insurance tool

Competition watchdog the Office of Fair Trading (OFT) has reached agreement for limiting the use of a tool produced by credit reference company Experian over fears that it could lead to illegal price co-ordination. Seven insurers and two IT companies have agreed to limit the information they share and the OFT has warned that the …
OUT-LAW.COM, 14 Jan 2011
The Register breaking news

Nuke plant owners to pay out up to £1bn per balls-up

Nuclear operators are to be liable for damages amounting up to seven times the current limit in the event of a nuclear incident, the Government has confirmed. A phased increase to a limit of €1.2bn (£999m) will be introduced over five years following the coming into force of an international treaty on nuclear third party …
OUT-LAW.COM, 04 Apr 2012
reseller_closures

Phoenix IT Group tumbles off a cliff: £63m in losses

There's trouble at Phoenix IT Group - the services provider has recorded losses of more than £60m, been forced to take a massive hit from accounting errors and is laying off staff. The results of accounting errors are in and the firm has taken a post-tax knock of £17.3m, forcing it to restate multiple year results after finding …
Paul Kunert, 29 Nov 2012
The Register breaking news

QLD flood report calls for emergency services broadband network

The Queensland Floods Commission of Inquiry’s Final Report calls for the creation of a dedicated wireless broadband network for the emergency services. The report finds that says black spots for the analogue radios used by Queensland emergency services at the time of the floods were “inevitable”, before going on to endorse …
Simon Sharwood, 19 Mar 2012
The Register breaking news

Rifle-waving Yank's premature detonation ruins city's big bang

An early morning rifle test ended rather badly yesterday when a rogue shot detonated $80,000 of fireworks set aside for Fourth of July celebrations. The unnamed shooter, who was reported to be the owner of a car wrecking yard in Bainbridge Island, Washington, was giving his new firearm a go at 1am when a ricochet flew off a …
Lester Haines, 05 Jul 2012
cable

Would you let your car insurer snoop on you for a better deal?

Having your driving style assessed by a back-seat black box of tricks sounds galling – but if it can shave money off your insurance premium, a beancounting firm reckons you'll put up with it. Particularly if you're an 18-year-old pimple-faced lad. The gadget-based insurance scheme rewards careful drivers with lower premiums, and …
Anna Leach, 11 Oct 2011
channel_teaser_exit

Bulging Kelway: Too big to get out of the obvious exits

Phil Doye acknowledges that 21 years after setting up reseller Kelway, he still doesn't have a key for the exit. The London-based firm is moving to rapidly integrate new buy Equanet, the once mighty IT dealer that was taken over by Dixons in 2007 and subsequently pulled apart and bent out of shape. The transaction is expected …
Paul Kunert, 25 Mar 2013
channel

Comet sheds 450 jobs in biz survival struggle

Laid-up retailer Comet plans to axe 450 engineering and support workers, slashing costs and safeguarding "the long-term viability of the business", it said. The firm was finally sold a week ago to private equity house Op Capita for £2 with former parent Kesa Electricals also coughing £63m for a dowry, some £13m more than was …
Paul Kunert, 10 Feb 2012
Newsweek Zombies

Time to rid ourselves of the tech channel zombies

One thing is certain, we’re all going to die at some point while encountering high and low points along the way. Life is a journey, with no guaranteed time of departure. And business is no different. The loss of names such as Woolworth, Clinton, Jessop, Comet, HMV and now Blockbuster may be sad, but it’s also part of the journey …
Eddie Pacey, 12 Feb 2013
The Register breaking news

UK will obey barmy Euro unisex-insurance rules from 2013

The UK Government is to abide by a European ruling on the use of gender in insurance, although it says the judgment goes against common sense. In March 2011, the European Court of Justice ruled in a test case known as the Test-Achats case that from 21 December 2012 insurers will no longer be able to use gender as a factor in the …
OUT-LAW.COM, 05 Jul 2011
Apple iPad 4

iPads in education: Not actually evil, but pretty close

Education in the USA has long been a stronghold of Apple, the venerable Apple II being cheap and tough enough to survive in that hostile environment, skool. But Apple’s gouging of UK consumers meant the prices were so high back in the day that it was worth flying to New York and paying air fares hotel and taxes to buy the beast …
Dominic Connor, 26 Mar 2013

Gaping hole in Google service exposes thousands to ID theft

A security flaw accessible via Google's UK motor insurance aggregator Google Compare has potentially exposed vast numbers of drivers to identity theft. The vulnerability, the existence of which has been verified by The Register, made it possible for comprehensive personal details - including names, addresses, phone numbers and …
John Lettice, 08 Nov 2012
channel

Micro Anvika seeks channel props for CVA rescue plan

Troubled Tottenham Court Road retailer Micro Anvika is seeking approval from distributors to green-light a restructure package. The independent – which set up shop in 1984 and has seven stores including a concession in Harrods – appointed biz consultancy Re10 last month to advise it on the best way to counter the slump in …
Paul Kunert, 02 Feb 2012
channel

Skye IT goes titsup

Skye IT has gone into administration today after running into financial difficulties, appointing Taylor Aitken to manage the wind-down. The Chelmsford-based reseller is a standalone business but CEO Paul Swords, remains the director at other brands in the Skye Group including Skye UAE, Recruit, Direct and Training, each of which …
Paul Kunert, 07 Oct 2011
The Register breaking news

New driver-snooping satnav could push down UK insurance premiums

The idea has been hovering in the ether for some time, but TomTom is the first satnav firm to sign on the dotted line and bring insurance to drivers through their GPS. The Dutch company has joined up with Motaquote insurers to offer UK drivers "Fair Pay" insurance, where customers pay lower premiums because their satnav monitors …