Commercial
Omega rating under review over exposure management concerns
AM Best has placed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Omega Specialty Insurance (Bermuda) and the ICR of “bbb” of Omega Insurance Holdings under review with negative implications.
Brokers await Bribery Act guidance
The Ministry of Justice’s final guidance on what companies will need to do to comply with the Bribery Act, is set to be released tomorrow.
ABI wants referral fee ban to be next on Government to do list
Today’s Government announcement on civil litigation reform will put the brake on runaway legal costs and mean a better deal for genuine claimants and insurance customers, according to the Association of British Insurers.
Oval backs Olympic hopeful
Oval is to sponsor Tom Allen, an 18 year-old Olympic swimming hopeful from Wales.
Lockton Middle East subsidiary gains chartered status
Lockton subsidiary Lockton MENA Limited has succeeded in its application to achieve Chartered Broker status from the Chartered Insurance Institute.
S&P confirms Allianz' Japan rating
Standard & Poor's has confirmed its AA- (stable) rating of Allianz Fire and Marine Insurance Japan.
Brightside reports 48% rise in revenue
Brightside increased its revenue by 48.1% to £66.2m in 2010 (2009: £44.7m).
S&P confirms Allianz' Japan rating
Standard & Poor's has confirmed its AA- (stable) rating of Allianz Fire and Marine Insurance Japan.
Customers need more clarity over online insurance products
Ernst & Young and the Chartered Insurance Institute have released a research report into the UK retail motor insurance market.
CII honours David Slade
Perkins Slade founder and non-executive chairman David Slade, has been made an honorary fellow of the Chartered Insurance Institute.
International teamwork, the key to tackling piracy
Piracy has been an evolving threat for ship owners and the marine insurance market since the 1980s and Neil Smith argues that international cooperation is the only way to combat the modern scourge of marine piracy.
Post Europe: International teamwork, the key to tackling piracy
Piracy has been an evolving threat for ship owners and the marine insurance market since the 1980s and Neil Smith argues that international cooperation is the only way to combat the modern scourge of marine piracy.
Abbey Protection posts profit increase
Abbey Protection has reported pre-tax profits of £9.6m for 2010 – a 9% increase on the £8.6m gained in 2009.
APC unveils SME shopkeeper product
Underwriting agency APC has launched a new product aimed at shopkeepers in the SME space.
Walter hints at new business proposition
Outgoing Insurecom chief executive Phillip Walter has revealed he is in talks with venture capitalists about launching a new business once he exits the firm in May.
Irish firm looks to acquire UK brokers
UK brokers are attractive acquisition targets for European players now that valuations are "more sensible" according to one Irish broker.
Application fraud: provider info handover is 'gob-smackingly' bad
There remains a serious issue concerning the "question set mapping challenge" between insurers and aggregators. Indeed, Pinsent Masons head of insurance John Salmon told delegates that, in some cases, it is "gob-smacking how badly this is done".
View from the top: a recipe for disaster
Some companies' belief that insurance policies can be sold like loaves of sliced bread makes a difficult situation worse.
News analysis: alarming revelations for commercial cover
The recent Mactavish-Pricewaterhouse Coopers report that declared commercial insurance 'not fit for purpose' is a wake-up call to the market. Insurers, brokers, company boards, government and the buying community should all take note, says John Hurrell.
Motor claims: adding value to the claims process
The vehicle insurance and accident management worlds are at each others throats most of the time. Paul Hoyle looks at why co-operation is the only way forward.
Aviva boss: earthquake will not impact GI rates
Global general insurance rates will not be dramatically affected by Japan's earthquake and tsunami, according to Aviva's chief underwriting officer.
Post history - five years ago: NIG senior management is finalised
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from five years ago reveals.
Interview - Janet Connor: targeting the over 50s demographic
Managing director of Rias Janet Connor chats to Amy Ellis about targeting the over-50s demographic, embracing aggregators and non-insurance diversification.
Sweeney blasts low HNW rate rises
Sterling director of personal and commercial insurance David Sweeney has welcomed "common sense" rate rises in the household insurance market but has called for tougher rating action in the high net worth sector.