Commercial
Global tanker fleet hit by EU oil sanctions
New European Union sanctions on Iranian oil will impact around 95% of the global tanker fleet, including those operated by a major Bermuda shipping company, because they are insured under rules governed by European law.
NED Tim Ablett leads Europ Assistance UK MBO
Europ Assistance’s non-executive director and former Groupama managing director Tim Ablett has confirmed he is leading the management buyout of the travel insurer’s UK and Ireland arm.
Flooding, fraud and asbestos: ABI outlines 2012 priorities
The Association of British Insurers has outlined the key priorities for 2012 to reduce insurance costs including seeking a free market flood model and dealing effectively with asbestos claims.
XL expands political risk and trade credit team
XL Group is expanding its global political risk and trade credit team with four new appointments based in London.
Career development: Sterling to open Manchester branch
High net worth insurer Sterling is set to boost its headcount with the opening of a new hub in Manchester.
Credit hire: Two sides to the story
Credit hire organisations and insurers are blaming each other for the cost of credit hire. With the Office of Fair Trading conducting a review, will anyone emerge victorious?
Post magazine – 26 January 2012
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Towergate secures five-year Allianz deal
Allianz will continue to lead Towergate commercial underwriting’s insurer consortium for the next five years, increasing their share from 40% to 70%.
Reinsurance rates in Spain fell at January renewal
Reinsurance rates in Spain fell at the January 1, 2012, renewal, despite the effects of the European financial situation on the primary market.
Thai cat fund could prove too costly for reinsurers
International reinsurers will have to be “seriously convinced” the Thailand government’s catastrophe fund is profitable if they are to insure it.
Legal cover firm creates online broker portal
A motor and family legal cover provider has launched a free online portal which allows brokers to browse policies and documents on 50 types of commercial and personal lines cover.
Cyclists urged to support Allianz-backed bike ride
The Prince’s Trust has announced that its Palace to Palace cycle ride will be coming to the West Midlands for the first time.
Cruise ship disaster: Hannover Re hit with multimillion pound loss
International reinsurer Hannover Re has suffered a marine hull loss of €30m from the Costa Concordia disaster.
McCammon is Liberty Mutual's new COO
Liberty Mutual Insurance Europe has appointed John McCammon, pictured, as its new chief operating officer.
Markel enters German market through joint Anglo venture
Markel International has signed a joint venture agreement with Anglo Underwriting and moved into Germany.
Crawford to handle Oxford St flood claims
Loss adjuster Crawford & Company has confirmed it is handling claims arising from a burst water main on Oxford Street in London.
View from the Top: The Eurozone crisis is an enterprise risk issue
The Eurozone crisis and its potential impact on the insurance industry are an enterprise issue for risk managers and commercial customers - and not solely the domain of finance managers.
Dual Ireland appoints Marsh commercial broker
Specialist underwriting agency Dual Ireland has expanded its Dublin-based team with the appointment of Martha Gorman as development underwriter for financial lines.
News analysis: Groupama UK up for sale — but who will buy the group?
Will Groupama be sold lock, stock and barrel or broken into an insurer and its broker parts?
Broking - Mergers & acquisitions: Do not disturb
2011 was a relatively sleepy year for merger & acquisition activity in the broker sector. Could 2012 be a wake-up call or will the market stay snoozing?
Post magazine – 19 January 2012
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Axa report reveals mixed emotions for 2012 among SMEs
SME bosses across the UK are approaching 2012 with mixed outlooks concerning turnover, profitability and recruitment plans, according to a report published by Axa Commercial Lines.
Government cat fund for Thailand
A £1bn Thai catastrophe fund is to be set up by the local government to provide cover for households, small to medium sized enterprises and industrial factories against floods, wind storms and earthquakes.
More proactive risk management is needed survey finds
While global companies are intensifying their focus on enterprise-wide risk management, most corporate leaders believe their companies have a long way to go in building an effective, risk-aware culture.