Claims
A thorny issue
Credit Hire: Legal update
Earthquakes strike Indonesia
A series of strong earthquakes shook the West Papua province of Indonesia over the past weekend, catastrophe business AIR Worldwide has reported.
Ironshore snags AIG heavyweights for new environmental division
Ironshore has snagged environmental insurance industry heavyweights Joe Boren and John O'Brien from AIG to start its new environmental insurance business.
Hardy increases underwriting capacity for Syndicate 382
Hardy Underwriting Bermuda Limited (LSE: HDU), the specialist Lloyd's insurer/reinsurer, today announces that the underwriting capacity of syndicate 382 for 2009 has been increased from £185m to £250m.
Cobra warns of 'problematic' outlook for market
Broking consolidator Cobra has reported that its revenues increased by 55% to £11.8m for the six month period to 30 September 2008. It added underwriting GWP increased by 263% and underlying EBITDA increased by 19% to £1.4m.
Reinsurance market hardened at 1/1- Guy Carpenter, Willis
Reinsurance pricing at the all-important January 1st renewals date shows a hardening market, research from Guy Carpenter and Willis has revealed.
Beazley makes new appointment
Beazley has appointed Anthony Hobkinson to head up its specialty lines claims team focusing on professional and management liability claims. He succeeds David Marock, who was appointed the group's chief operating officer in October.
US private equity firms looking to start up reinsurance firms
After a stream of catastrophes in 2008 and an active hurricane season, US private equity houses are looking to start up reinsurers, according to Reuters .
Appointment at First Assist Legal Protection
First Assist Legal Protection has appointed Tim Porter as after-the-event development manager. Mr ...
The insurance industry needs a second life
Web technology took a massive leap forward in 2008. Blogs, forums, wikis, social networking and twit...
PL and EL fraud rises as credit crunch bites
The financial squeeze and improvements in motor insurance fraud detection has led to a rise in suspi...
Madoff fraud could hit insurance market hard
The alleged $50bn (£32bn) fraud by Bernard Madoff could have a huge impact on the insurance market, ...
Appointment at Berrymans Lace Mawer
Berrymans Lace Mawer has appointed Iain Fraser to its professional negligence practice in Manchest...
Fee challenges: 'door open'
A Court of Appeal decision regarding conditional fee agreements made pre-2005 has left the door open...
XL downgraded by Fitch
Fitch Ratings has downgrades Bermudian (re)insurer XL Capital and its property/casualty (re)insurance subsidiaries, including the Issuer Default Rating (IDR) for XL to 'BBB+' from 'A', and the Insurer Financial Strength (IFS) rating of its core operating…
XL has no need to seek additional capital at this time: CEO
XL's chief executive Michael McGavick has again sought to scotch rumours that the beleagured Bermudian (re)insurer may be on the brink of collapse.
Ace raids AIG to boost environmental arm ahead of directive
Ace Europe has strengthened its environmental risk team with the appointment of Chris Strong as environmental risk underwriter. This appointment comes in advance of the forthcoming implementation of the EU Environmental Liability Directive in the UK.
Swiss Re says Madoff exposure less than 3m CHF
Swiss Re, the Swiss reinsurance giant, said that it has less than 3m CHF of "immaterial indirect" exposure to funds run by disgraced fund manager Bernard Madoff through its hedge fund investments.
US (re)insurer to delist from NYSE
Hartville, the US (re)insurer, said that it intends to voluntarily deregister its common stock under the Securities Exchange Act of 1934 and cease filing reports with the Securities and Exchange Commission prior to the end of 2008. In addition, the…
Lloyd's reinsurers examine exposure to $50bn fraud
Lloyd's casualty reinsurers are scrambling to find out whether they may be the final victims of disgraced Wall Street trader Bernard Madoff's $50bn fraud.
Ironshore makes acquisition
Acquisitive Bermudian insurer Ironshore has bought out Toronto-based reinsurer Marine Re.
Zurich in settlement with SEC
(BestWire) - The U.S. Securities and Exchange Commission filed a lawsuit against and simultaneously entered a $25m settlement with Zurich Financial Services. The lawsuit alleged civil securities fraud related to finite reinsurance transactions.
Nacho teams up with AMA for new credit hire group
The Accident Management Association and the National Association of Credit Hire Operators have formed a credit hire focus group to work together on delivering solutions to the challenges faced by the industry.
Kennedys continues expansion in West Midlands with new team
Law firm Kennedys has continued its expansion in Birmingham following the appointments of partners Eamon Mooney and Robert Welfare, solicitor Angela Fisher and trainee legal executive Julie Barnes from DLA.