Claims
Reinsurance sector braced for huge losses in Japan– Insurance News Now – 17 March 2011
Post reporter Amy Ellis outlines this week’s major general insurance stories which include the global reinsurance industry pulling together to absorb the impact of the 9.0 magnitude earthquake that struck Japan on 11 March.
Reinsurance sector braced for huge losses in Japan– Insurance News Now – 17 March 2011
Post reporter Amy Ellis outlines this week’s major general insurance stories which include the global reinsurance industry pulling together to absorb the impact of the 9.0 magnitude earthquake that struck Japan on 11 March.
Ace estimates Japan losses of up to $250m
Insurer Ace has predicted net post tax losses from the Japanese earthquake of between $200m (£124.3m) and $250m.
6.2m quake strikes Japan
A magnitude 6.2 earthquake struck south of Mount Fuji on 15 March at 10:31pm local time (1:31pm UK time).
Law firm launches app
A professor of psychology at Edinburgh University has said that people can struggle to remember small details within seconds of an accident, which often prove crucial when people are taking legal action afterwards.
ASL expands professional liabilities team
Specialist loss adjuster ASL has recruited three solicitors to its professional liabilities practice.
Towers Watson: Solvency II issues require swift resolution
Towers Watson has welcomed the results of the QIS5 study announced yesterday by the European Insurance and Occupational Pensions Authority.
Towers Watson: Solvency II issues require swift resolution
Towers Watson has welcomed the results of the QIS5 study announced yesterday by the European Insurance and Occupational Pensions Authority.
Japan economic losses “likely to exceed $100bn”
Losses from the earthquake which shook Japan last week could break the $100bn (£62.2bn) barrier, catastrophe modeling firm EQECAT has predicted.
Mobile phone validation service launched
An online claim validation service for mobile phones has been launched with the aim of helping insurers quickly validate claims.
Garwyn launches practice group in strategic commercial move
Garwyn Group has created the first of a series of practice groups for seven defined industry sectors, as part of a strategic move to align itself more closely to the sector specialisms offered by commercial insurers and brokers.
Swiss Re reiterates commitment to Japanese market
Reinsurer Swiss Re has reiterated its commitment to the Japanese insurance market following the earthquake which hit the country last week.
Real change needed on injury claims costs, says Inter Resolve
Rhetoric on injury claims costs needs to be replaced by real change, according to Peter Ashdown-Barr, chief executive officer at Inter Resolve.
Groupama calls for referral fees to be scrapped
Groupama Insurances has called for referral fees to be abolished and for the implementation of Lord Justice Jackson’s review of civil litigation costs.
Corpore saves insurers estimated £1m in Kynixa rehabilitation handover
Corpore has estimated it saved insurers just under £1m by absorbing over 450 rehabilitation cases after former provider Kynixa went into administration.
Aviva reports 30% increase in cannabis claims
Aviva is warning landlords to be extra vigilant as it revealed a 30% year-on-year rise in cannabis farming claims – the highest level since it started recording the data in 2007.
QBE estimates quake exposure at $125m
Insurer QBE has estimated its exposure to the Japanese earthquake to be around $125m (£77.6m).
Japan earthquake insured losses could top $35bn
The insured property losses caused by the devastating earthquake which struck Japan could reach $35bn (£21.7bn), catastrophe modelling firm Air Worldwide has warned.
Commercial cover “not fit for purpose”
Research firm Mactavish has warned that commercial insurance is currently “not fit for purpose” and could lead to a rise in claims disputes.
Apil calls on insurers to take action on fraud
The Association of Personal Injury Lawyers has urged the insurance industry to drive forward the recommendations outlined in the Transport Select Committee report.
Crawford acquires Claim Hub
Crawford & Company has acquired the assets of Claim Hub, a provider of claims workflow solutions for the property and casualty insurance market.
Exclusive gender-ruling content now available on Post Europe
Post Europe’s weekly update is now live with three different opinions from the insurance industry on last week’s gender-ruling from the European Court of Justice.
Allianz “dismayed” at transport committee Jackson snub
Allianz Insurance has criticised the Transport Select Committee Report for not calling for a full implementation of Lord Justice Jackson’s review of civil litigation costs.
$10bn insured loss estimated from Japan quake
The Japanese earthquake could cost the insurance industry $10bn (£6.25bn) but it is not likely to cause rates to harden across the market.