Lloyd’s/London
Comment - claims: cutting the cost of claims
Introducing non-adversarial means of dispute resolution could be the answer to cutting the cost of claims, empowering qualified professionals and delighting the customer, argues Roger Flaxman.
Post history - 10 years ago: Groupama in talks over Sorema sale
Looking back through Post's back catalogue paints aunique picture of more than 150 years of insurance news, as this highlight from 10 years ago reveals.
Omega puts $23.6m price on Japan earthquake and tsunami
Omega Insurance has published an initial estimate of ultimate net losses arising from the Japanese earthquake and tsunami of 11 March 2011.
Howden launches surveyors PI product
Howden Insurance Brokers has launched a new UK professional indemnity product for chartered surveyors with a fee income of under £750 000.
Derrick Cole ACII: An obituary
The death is announced of Derrick Cole at the age of 84 after a long career in insurance.
Markel granted China approval
Property and casualty insurance firm Markel has received permission to establish a representative office in Beijing.
Novae releases initial Q1 major loss estimate
Novae estimates that the cost of the Japanese earthquake and tsunami to be between US$25 million and US$40 million, based on an insured market loss of US$20 and US$30 billion.
Lloyd's motor result reflects 'torrid' time
Lloyd's finance director Luke Savage has said Lloyd's 2010 UK motor insurance result reflects the "torrid" experience of the whole market within that class of business. Its motor book reported an underwriting loss of £520m (2009: £83m loss) and a…
Career development & CSR: first specialist recruitment firm signs Declaration
AMC Insurance Appointments has signed up to the year-old Aldermanbury Declaration, becoming the first specialist insurance recruitment consultancy to do so.
Besso management buys out Union Hamilton shares
Besso has insisted it is business as usual at the firm, after its management completed a shareholding purchase worth almost £3m.
London authorities unveil combined insurance panel
An insurance purchasing body incorporating eight London councils has selected Aviva, Lloyd's and Zurich to sit on its panel of insurance providers.
Aggregators join ABI and Biba in fraud fight - Insurance News Now – 7 April 2011
Post reporter Amy Ellis outlines this week's major general insurance stories including how aggregators have teamed up with the Association of British Insurers and the British Insurance Brokers’ Association in a bid to fight fraud.
First Russian coverholder partnership launched
Chaucer Syndicates and RFIB have partnered with Moscow-based Nakhodka Re to launch Sea Line – the first Lloyd’s coverholder in Russia.
Patrick Snowball: Dealing with the claims influx down under
Suncorp CEO Patrick Snowball speaks to Jonathan Swift about his recent experiences dealing with the large volumes on claims in Australia and New Zealand, and how the business managed.
Samsung's Europe venture gains A rating
AM Best Europe has assigned a financial strength rating of A (Excellent) and issuer credit rating of ‘a’ to Samsung Fire & Marine Insurance Company of Europe.
XL looks to Ace Europe for new French boss
XL Insurance has appointed Kadidja Sinz as country manager for France. She succeeds Guy Lallour who is retiring in May.
Lloyd’s provides £1.25m cover for adventurer
A £1.25m insurance policy has been placed in the Lloyd’s market to cover solo adventurer Sarah Outen on her round the world trip.
Moody’s: Lloyd’s motor deterioration “alarming”
Moody’s has said the performance of the Lloyd’s market in 2010 - a £2.2bn profit before tax – “compares favourably” with its peers in the reinsurance and commercial markets, but warns of the “alarming” deterioration in its motor book.
Jubilee backs new mortgage initiative
Lloyd’s insurer Jubilee is providing mortgage indemnity cover for lenders under a new mortgage guarantee scheme arranged by Willis and launched by construction company Taylor Wimpey.
Guest Blog: CII's Alasdair Stewart on an eventful past week
Spring is always a busy time in insurance. March renewals, end of many companies' financial years, conferences and exhibitions.
Wells Fargo sells Besso stake
US insurance firm Wells Fargo has relinquished its stake in Lloyd broker Besso.
Carroll joins London market start-up
Tim Carroll has joined a new general insurance company, Samsung Fire & Marine Insurance Company of Europe, which has opened for business in London.
Mitsui issues timber frame warning
Mitsui Sumitomo has warned property owners of the dangers of carrying out extensive repairs on timber frame buildings.
LMA: industry powerless against pirates
The Lloyd's Market Association has insisted the insurance industry is powerless to stop the growing threat of piracy off the Somali coast.