Claims
Fitch: UK motor insurers need to control claims costs
Fitch Ratings said that the trading update released today by Admiral leads it to question the ability of underwriters to control the rising cost of motor claims involving personal injury.
Oxygen to sell off remaining assets - Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including how market commentators believe large employee expenses and lack of profits are behind the demise of seven-year old Oxygen Holdings, as it prepares to sell off its…
Admiral share price slumps as Engelhardt warns of no reserve releases in Q4
Equity analysts are maintaining a “cautious hold” recommendation on Admiral’s share price as it dropped this morning revealing large personal injury claims continued to create large costs. Admiral boss Henry Engelhardt also warned there could be no…
Swiss Re makes $130m in natural catastrophe protection
Swiss Re has obtained a further US$ 130m in protection through the Successor X catastrophe bond programme covering North Atlantic hurricane and European windstorm.
Endsleigh settles in £15.5m claims row
Ensleigh has confirmed that it has reached a “mutually acceptable agreement” with Southern Rock.
Crawford’s fraud buster Gracey quits
Crawford fraud boss Bobby Gracey, has resigned from the loss adjuster to become chief executive of Glasgow-based International Fire Investigators & Consultants.
Crawford’s nine-month income up 203%
Crawford has announced net income in its third quarter grew 18% to $15.3m (2010: $12,9m), taking the year to date’s net income to $40.9m, up more than 200% on the previous year’s $13.5m.
AIR releases inland flood model for Germany
AIR Worldwide has released an inland flood model for Germany that is said to offer a fully probabilistic approach for determining the likelihood of flood losses from all types of storms.
AIR releases German flood catastrophe model
Catastrophe risk modelling firm AIR Worldwide has released an inland flood model for Germany that is said to offer a fully probabilistic approach for determining the likelihood of flood losses from all types of storms.
Towers Watson hires five to make telematics programme global
Towers Watson has made five senior appointments to help roll out a programme that aims to support insurers in creating products priced according to the driver’s behaviour.
Bowler is top City insurance woman
DWF partner Claire Bowler has beaten off the competition to win the Insurance category for the 2011 Women in the City Woman of Achievement Award.
CED expands its network in Wallonia with the takeover of Bureau Farcy et Cie
Loss adjuster in the Benelux and Spainish regions, CED has expanded its presence in Belgium with the takeover of Bureau Farcy et Cie sprl.
Now Health introduces currency flexibility for Europe
Private medical insurance provider Now Health International, has introduced a flexible currency facility for customers in Europe, the Americas, Africa and Asia Pacific.
CII launches initiative to boost young professionals
The Chartered Insurance Institute is hoping to bridge the generation gap between today’s industry leaders and tomorrow’s insurance professionals by launching broking, claims and underwriting focus groups.
Q&A: Jorge Luzzi
Jorge Luzzi, president of Ferma and corporate risk management director at Pirelli & C SpA spoke to Francesca Nyman about what risk managers want from insurers, the current economic climate and what he aim to achieve in his two year presidency.
DAS appoints operations head
DAS Group has named Richard Harris as head of claims assistance.
Thai floods: Insured losses creep up
Global reinsurance broker Aon Benfield has estimated the insured losses from the floods in Thailand could be at least US$4.6bn.
Post Blog: Between a Rok and a hard place
What happens when a building repair and maintenance partner, crucial to policyholders, goes out of business? Sharon Scully, general manager, property and legal at Axa Assistance, explains.
Law report: Dispute number challenge fails
This law report has been contributed by national law firm Berrymans Lace Mawer.
Your say: Misrepresentation is not fraud
I was concerned to note that John Cannon states in his recent article “failure to declare a change in circumstances to a lender is classed as a form of occupancy fraud”.
Building referral fee costs hitting industry for 'tens of millions of pounds'
Building referral fee costs, which have escalated over the past two years, are “like a cancer” costing the industry “tens of millions of pounds” a year, it has been claimed.
Homeserve shares crash after sales suspension
Homeserve joined the mis-selling scandal this week when it suspended telephone sales of its home emergency policies, after an internal review by Deloitte found its processes fell “below the standard it had set itself”.
News analysis: Is data mining a major factor in the PI claims spike?
The debate over referral fees has had more press time recently than whether The X Factor is on the wane or not. And just like the blow-by-blow tabloid accounts of the TV show, its judges and its contestants, the insurance industry is starting to get…
Market moves: Insurers move for senior staff
For the second week running insurers were the major movers and shakers, with Ecclesiastical recruiting a managing director for Ireland, Aviva adding to its executive team, and NIG expanding its presence in London. In broking, Willis continued to make…