News
Mobile technology approach must be modified by insurers
Insurers have been urged to rethink their approach to mobile technology, following accusations that claims apps have proved to be a "waste of time and money".
Market moves: Willis reshuffle and new Marsh Asia-Pacific CEO among biggest changes
This week represented a big seven days for the broking community, with key changes at Willis and Marsh.
Allianz Belguim and Allianz Netherlands to merge
German insurer Allianz is integrating its Belgian and Dutch operations in a bid to strengthen its presence in the Benelux region.
Munich Re reinsurers guarantees for Chinese PV manufacturer
Munich Re has taken the step of reinsuring the performance guarantees that Chinese photovoltaic manufacturer Yingli Green Energy gives to its customers for multicrystalline modules.
Corporation tax could hit 20%: PWC
UK Chancellor George Osborne could shave corporation tax further next year following his announcement that it would fall to 21% by April 2014.
Whiplash proposals could tackle 'disproportionate' claim volume, Groupama says
Groupama has become the latest insurer to support Government’s proposals to cut the cost and number of whiplash claims.
CHO welcomes Competition Commission's consumer harm focus
The Credit Hire Organisation has welcomed the Competition Commission's detailed plan of investigation into the motor insurance market.
Indian union threatens walkout over proposed FDI hike
An Indian trade union has threatened to go on strike if a proposal to raise the cap on foreign direct investment in the insurance sector is passed by parliament.
Brokers turn to unrated insurers for high risk clients
Towergate's decision to sign a £70m underwriting deal with Gable is evidence of a change in market perception on unrated insurers and an increasing willingness to use them, industry players believe.
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.