Commercial
Ex Mitsui underwriter joins HSB
Former chief underwriter of Mitsui Sumitomo Insurance UK Andy Kane (pictured) has been snapped up by HSB Engineering Insurance.
CBG Group lands surety bond deal
Insurance broker CBG Group has signed a deal to provide a £700 000 performance bond for the Smith Group UK as part of a multi-million pound construction project.
Global reinsurance outlook no longer negative
Moody's Investors Service has changed the outlook on the global reinsurance sector from negative to stable reflecting the momentum for a hardening in reinsurance rates, a refocusing on the value of reinsurance, and the good risk management and discipline…
Cost of nautical-related claims back to high levels in 2011
The average cost of nautical related-claims has climbed back to high levels in 2011, according the Nordic Marine Insurance Statistics database, but may stabilise at the current rate.
European insurers with US APH liabilities face solvency scrutiny
European insurers that hold US Asbestos Pollution and Health Hazard liabilities will be subject to greater scrutiny of their financial accounting according to new research.
Insurance Insight September: Renewable energy, mobile technology and THB
Insurance Insight September is now live with an article on insurers’ growing interest in renewable energy; a look at the new demand for mobile insurance; and an interview with broker THB to find out about its latest expansion plans.
Tokio Marine appoints senior underwriter
Tokio Marine Europe Insurance has recruited John Gibson as senior marine underwriter.
Aspen pulls out of solicitors' PI
Aspen Risk Management will not write any more solicitors’ professional indemnity for the "foreseeable future".
Insured losses for Hurricane Irene "manageable" $6bn
The insured loss estimate for Hurricane Irene is said to be between $3bn to $6bn making the impact on insurers “material” but “manageable”, according to Fitch Credit Ratings.
Tryg invests in African renewables
Danish insurer Tryg has invested DKK50m (€6.7m) in a Danish investment fund which aims to boost the development of renewable energy in the southern part of Africa.
Comment- mutuals: Public preference
Mutuals can be overlooked or underused by public bodies, but Allan Guest argues that they are the most cost-effective and appropriate choice for public sector risks.
Bank holiday breakdowns
Unsettled weather meant the AA only reported 35 000 breakdowns between 26 August and 29 August, 1000 lower than the August bank holiday 2010 but 1000 higher than for the same period in 2009.
People moves - 1 September 2011
A round-up of people moves and new appointments in the industry, as featured in the 1 September 2011 edition of Post.
The other side of the disaster story
Regarding David Bonehill’s letter about quality of service to policyholders, I write from the point of view of the disaster restoration industry.
Takaful insurance: A future full of potential
Despite the failure of the first domestic Shariah compliant insurer, the Takaful market is predicted to have a great future. Sam Barrett looks at its potential for growth.
Marsh buys Alexander Forbes broker business
Marsh of Marsh & McLennan companies has acquired the brokerage business of Alexander Forbes.
Post Magazine - 1 September 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Essex broker rebuffed by Qmetric over Primo name - Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories which include an Essex based insurance broker lodging a formal complaint against Qmetric for using the Primo trading title which it claims was its brand name first.
Keelan Westall and CKW renegotiate claims deal
Property insurance brokers Cadogan Keelan Westall and Keelan Westall have renegotiated their delegated authority agreement with insurer Zurich to allow the in-house claims team to process and settle claims up to £5000 net of policy excess.
Audience with Zurich: Techmedia sector in the spotlight
Zurich Insurance today launched independent research which found that more than half of Britain’s mid-size technology companies feel at risk from losing skilled employees, with the figure rising to 70% amongst companies with a £25-£100m annual turnover.
Insurance Insight weekly update live
Insurance Insight’s weekly update is live with an article on harmonising European compensation systems; and an article on the opportunities for brokers in the international PMI market.
International PMI: the brokers opportunity.
Many brokers fear branching out into unknown lines but Tim Mutton argues there is an excellent untapped opportunity for many European brokers in the international PMI market.
Willis develops nuclear exclusion risk cover
Willis Group Holdings has developed insurance to cover business interruption costs for companies with key locations, suppliers or customers situated in the vicinity of a nuclear power station.
Polish insurer PZU sees profits rise after restructure
PZU SA, Poland’s largest insurer has posted profits up 33% after major restructuring.