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Cornhill acquire Pet Plan

CORNHILL Insurance has announced the purchase of Pet Plan, the pet insurance specialist with gross premium income of L40 million and 400,000 policyholders.

The deal provides for Pet Plan to continue as a marketing and administration organisation with Cornhill providing the underwriting backing.

Chairman of the new Pet Plan board is Cornhill director and general manager (home), Denis Loretto who said: "Cornhill is the natural home for Pet Plan. We have been very pleased with the underwriting of this portfolio since the beginning of 1994 and have built up a very beneficial partnership. We look forward to achieving even greater success under the new arrangements."

The owners of Pet Plan, Patsy Bloom and David Simpson, are selling the entire capital to Cornhill, but will remain closely involved in the company. David Simpson will become chief executive. Patsy Bloom, founder of Pet Plan, will remain a director, with particular focus on marketing and promotion.

Pet Plan's staff of 200 will remain in Brentford as a separate subsidiary of the Cornhill Group.

BIIBA/IIB Working Party

IAN Bond, a senior partner with Coopers and Lybrand, has been named as the independent chairman of the joint BIIBA/IIB working party on a possible Federation.

Mr Bond was appointed for his experience in mergers and in forming a previous federation. He was the first president of the Society of Practitioners of Insolvency, a body formed in 1990 to represent the collective interests of all UK insolvency practitioners who previously had been represented by seven separate professional bodies.

Other members of the working party are Alan Gavaghan, Clive King and Mike Williams from BIIBA and Graham Gomm, Andrew Paddick and Barbara Bradshaw from the IIB.

Gan Alarm Guide

GAN Insurance has issued a guide to brokers outlining changes made to the Association of Chief Police Officers' (ACPO) new intruder alarm protection policy. The guide aims to highlight the changes and the implications for business insurance.

Maggie Litster from Gan Insurance commented: "Gan felt it was vital that businesses fully understand the main changes in the ACPO policy to encourage them to work with their insurer and broker to ensure risks are minimised and business premises are fully protected."

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