News
Over 50% of UAE residents never buy travel insurance
More than half of UAE residents do not purchase travel insurance when going abroad, according to research published by Zurich this week.
Asia-Pac insurance technology growth expected to dwarf "pedestrian" Europe
Asia Pacific insurers will increase technology spending by 8% to $18.2bn in 2013, according to a new report.
Biba: female drivers could face 40% hike in premiums
Insurers have played down pricing implications for young female drivers ahead of the introduction of the EU Gender Directive next week, despite claims that premiums could rise by as much as 40%.
Electra backs Davies for long haul, despite £11m write-down in first year
Davies' private equity backer has committed to working with the loss adjuster for "at least five or six years", despite having to write down a third of the value of its stake in the first year of ownership.
Large bodily injury claims increasingly settled by periodic payment orders, Willis Re finds
Periodic Payment Orders are becoming increasingly prevalent in the UK motor market, with the larger, more serious bodily injury claims more frequently settled in this way, according to a report by Willis Re.
Barclays appoints former FSA boss Sants as compliance head
Former Financial Services Authority chief executive Hector Sants has been appointed head of compliance and regulatory relations at Barclays.
Competition Commission to investigate credit hire and aggregator markets
The Competition Commission has published its plans to investigate the lack of control involved in the supply of services in private motor insurance, the power of the four main aggregators, and the difficulties customers face when researching and buying…
'Stabbed' insurance boss Rüther backtracks on attack
The German insurance boss who claimed to have been stabbed amid speculation of a possible takeover has admitted that no such attack took place.
EC Insurance appoints non-exec pair
Electrical Contractors' Association subsidiary EC Insurance has appointed two non-executive directors in the form of Gavin Richardson and Mark Crilley.
MGAs dubious on risk transfer consultation
Managing general agents suspect the FSA may have finalised new rules on risk transfer prior to closing its recent consultation.
Axa backs MoJ medical panels proposal
Axa has hailed the government's plans to introduce medical panels when assessing whiplash claims as a "major step" in combating fraud.
LV teams up with Risk Stop on SME surveys
Risk Stop has secured a three-year deal with LV to provide the insurer's commercial policyholders with questionnaires designed to assess SMEs' risks.
Abbey secures ABS licence
Abbey Protection Group has been granted an alternative business structure licence by the Solicitors Regulation Authority.
Zurich rolls out online home product
Zurich has launched a new own-brand home insurance product which will be administered through a strategic partnership with its subsidiary Endsleigh.
Unhappy investors uncover Drive Assist debtor discrepancies
Discrepancies over Drive Assist's debtors are said to have played a part in the company's downfall and resignation of founder Steve Binch, Post understands.
Neave to quit Co-operative and pursue non-executive roles in 2013
The Co-operative has revealed that David Neave is stepping down as managing director of its general insurance business in the first half of 2013 after seven years in the job.
William Russell adds benefits to global health cover
International insurance provider William Russell will include additional benefits in its global health plan range for 2013.
IFB and Foil say whiplash proposals will curb claims abuse
The Insurance Fraud Bureau and the Forum of Insurance Lawyers have thrown their support behind the government's whiplash proposals.
Asian flood deaths down but losses increasing
Mortality from Asian flood events continues to decline but economic losses remain a major cause of concern, according to data from the United Nations Office for Disaster Risk Reduction.
Magnitude 7.2 quake strikes Indonesia
An magnitude 7.2 earthquake off Indonesia has been felt in Australia.
Elite Incident Management to be liquidated next year
Motor claims outsourcing company Elite Incident Management is to be liquidated next year, the appointed insolvency practice has confirmed.
Wanna Insure launches telematics app
Software provider Wanna Insure is to launch a smartphone app that it says will help women drivers beat the incoming EU gender directive.
Biba and Aviva back MoJ whiplash consultation
The British Insurance Brokers Association and Aviva have become the latest insurance bodies to back the whiplash consultation from the Ministry of Justice.
IRDA raises cap on infrastructure investments
India's regulator has relaxed rules limiting insurers' investments in infrastructure in a bid to encourage the flow of funds to the sector.