Articles by Mark Sands
MSIG notches ‘best ever’ underwriting result for 2013
Mitsui Sumitomo’s Lloyd’s operation has reported record underwriting profits for the year ending 31 December 2013.
Crawford’s Burke elected CILA deputy president
Crawford’s senior vice president of global markets Benedict Burke has been elected as the deputy president of the Chartered Institute of Loss Adjusters at the body’s annual general meeting.
US claims giant to buy VRS Vericlaim, Ellis May parent
VRS Vericlaim and Ellis May are to be acquired by US claims specialist Sedgwick in a deal expected to close within 60 days.
Thompsons condemns ABI motor application fraud sums
Claimant law firm Thompsons Solicitors has hit out at figures from the Association of British Insurers which claims to show the scale of application fraud in motor insurance.
Insurers to face 'soaring' VAT bills following ECJ ruling
A ruling from the European Court of Justice is likely to add hundreds of millions to European insurers’ VAT bills, according to tax experts.
IFR promises ‘rapid action’ on broker engagement
The Insurance Fraud Register is targeting increased participation from distributors as a high priority according to Axa’s global head of fraud and IFR project sponsor Richard Davies.
IFB to launch small broker model in October
A new model designed to bring small brokers into the Insurance Fraud Bureau will be launched on 1 October.
Poor practice from insurers is to blame for rise in rehabilitation fraud
Absolute Partnership investigators discover ‘surprisingly high defect rate’
Concordia-style ship groundings top industrial cover losses
Ship groundings like that of the Costa Concordia represent the largest total value of insured loss over the last four years, according to figures from Allianz Global Corporate & Specialty.
Claims Club News: Insurers warned that independent Scotland would hit them in the pocket
An independent Scotland would cost insurers more in claims, according to BTO’s insurance group head Bill Speirs, who maintains that proposals to increase earnings north of the border will impact reserves.
Aon unveils syndicate-backed professional indemnity facility
Aon has launched a new professional indemnity product with the backing of Lloyd’s syndicates including Novae and Argo.
Pioneer poaches Travelers FI boss for new product launch
Minova-owned managing general agent Pioneer Underwriting has recruited Travelers’ product manager for financial institutions as it seeks to launch its own FI range.
GAB Robins recruits BLM's Doolan to lead London Market development
GAB Robins has recruited from law firm BLM for a new head of London Market, Post can reveal.
Claims Club News: UK firms told to keep an eye on Ireland for PPO regime improvements
UK insurers hoping to see improvements in the periodical payment order regime should carefully monitor a review of PPOs taking place in the Republic of Ireland, according to BLM partner Joe Wakeford.
Claims Club News: FCA putting spotlight on commercial cover
The Financial Conduct Authority is likely to raise the stakes on insurers by increasing scrutiny on whether the products customers buy are fit for purpose, amid a “philosophical shift” by the regulator.
German insurers pay out record claims for 2013
Germany’s non-life insurers settled €50bn in claims over 2013, the highest recorded total for a twelve month period.
Industrial deafness ‘the new cash cow’ says ABI
Claimant lawyers and claims management companies are increasingly exploiting industrial deafness claims for maximum cash settlements, according to the Association of British Insurers.
Quindell wins uncontested Gotham City libel case
Quindell has announced victory in a libel case against Gotham City after the latter failed to defend claims a research note was defamatory.
5% reduction would make home cover unprofitable says O'Roarke
Reductions of just 5% in the cost of home insurance could render the line unprofitable for many insurers according to LV’s general insurance managing director John O’Roarke.
Simply Business parent profits dip 9% for 2013
Simply Business parent Xbridge has recorded drooping profits for 2013, while staff numbers surged over the 12 months.
Questgates confirms Keilty recruitment
Specialist loss adjuster Questgates has confirmed the appointment of Davies Group’s Tony Keilty as its new Lloyd’s and London market director.
PRA recruits Prudential's chief actuary for board slot
The Prudential Regulatory Authority has appointed an outgoing Prudential executive director to serve as an independent member of its board from May next year.
LV’s H1 profits climb 7% but premiums continue to fall
Prior-year claims run off has seen LV notch improved operating profits for the first six months of 2014 in spite of continued decreases in motor insurance rates.
AIG axes Cunningham Lindsey over Tutoki appointment
AIG has moved to drop Cunningham Lindsey as a loss adjuster worldwide, Post understands, following the appointment of Jane Tutoki as the claims firm’s chief executive.