News
Pleural plaques announcement due after Easter
The Prime Minister has revealed that a decision on pleural plaques will be made when Parliament resumes after the Easter recess.
Lancashire ups Ike impact by a further $38.4m
Lancashire Holdings has increased the estimated negative financial impact of Hurricane Ike on its financil results to $189.2m - an increase of $38.4m from the previous estimate of $150.8m.
US insurers sued for $1bn over food dumping claims
A news report in The National Law Journal this week claims that US producers of fresh garlic, crawfish meat, canned mushrooms and honey have filed a $1bn lawsuit against major insurance companies for enabling the "dumping" of competing food products from…
Chaucer recruits Richardson for US property fac arm
Andrew Richardson has taken on the role of US facultative property class underwriter for Chaucer Syndicate 1084. He was previously at Sagicor Underwriting where he launched and built a book of worldwide property direct and facultative business.
Zurich appoints new M&A boss from Goldman Sachs
Zurich Financial Services Group has merged its global merger and acquisitions and strategy roles under a former Goldman Sachs leader.
Insured Earthquake losses could hit Euros 400m
Catastrophe risk modeling firm AIR Worldwide estimates that insured losses from Monday's magnitude 6.3 earthquake that struck the Abruzzo region of Italy are likely to range between Euro 200m and Euro400m.
Aon lambasts rival's short term fixes as it consults staff on cost cutting
The UK's largest broker Aon is to consult staff over a cost cutting measure it claims will "protect the business" moving forward and potnetially save jobs.
Italian earthquake insurance loss low, say RMS
The insurance losses resulting from the L'Aquilla earthquake will be a relatively small, according to Risk Management Solutions.
Medniuk to step down as Global Aerospace CEO
Tony Mednuik is to retire as chief executive officer of Global Aerospace on the 30 June 2009.
London market operator granted FSA authorisation
Ambant, which provides professional consulting, resourcing and broker services to the Lloyd's, London and International insurance markets, has achieved Finanical Services Authority authorisation and Lloyd's Run-Off Broker status.
Moody's: General insurers ratings unlikley to improve significantly despite price hikes
A likely and beneficial increase in premium rates in the UK property and casualty insurance sector is unlikely to significantly improve the current ratings for institutions in the sector, Moody's said today.
RBS could cut 9000 jobs to save £2.5bn a year
Royal Bank of Scotland has begun consulting Unite and other employee representatives about a business plan for its back office operations that will regrettably involve job losses.
O'Regan to head up Partner Re life unit
Kevin O'Regan has joined Partner Re Global Life as head of its longevity market unit. O'Regan who will be in charge of managing and growing the Partner Re longevity portfolio and for further developing longevity activities within Partner Re Global Life…
US prop cat renewals outlook
Reinsurance broker Guy Carpenter has issued a briefing paper on US property casualty renewals which shows that national programmes rose between 10% and 14% on a risk-adjusted basis, with the Northeast seeing 6-8% increases.
Brit boosts Birmingham team
Brit Insurance has strengthened its Birmingham underwriting team with the appointment of Edward Hanson as professional Risks underwriter and Gary Suffolk as commercial combined underwriter.
Law firm consolidates businesses
Following on the consolidation of its defendant law firms earlier this year, The Parabis Group has announced the next planned step in its growth strategy with the consolidation of its claimant law firms into Cogent Law.
Aon unveils UK energy division team
Aon Specialty, a division of Aon Risk Services, has unveiled the UK arm of its global Aon Energy unit.
Insurance market must get grip on CCS, says lawyer
The rapid development of carbon capture and storage technologies is creating an urgent need for underwriters and brokers to design viable insurance products, lawyer tells Aegis conference.
Insurer reveals UK commercial shake up
Axa Insurance has confirmed the appointment of its new commercial regional heads following a shake up first revealed in Post .
Axa appoints new head for UK subsidiary
Mike Butler has been appointed as general manager of Ignition, the specialist marketing company that aims to help brokers grow their business.
IP Task Force launches new White Paper
The Income Protection (IP) Task Force has launched its new White Paper in order to promote the undersold product.
IFB sees 50% increase in reported fraud
The Insurance Fraud Bureau has seen over 50% of reports now being reported online since launching its enhanced Cheatline facility in November 2008.
Barclays Bank appeals PPI ruling
Barclays Bank has challenged the legality of the Competition Commissions findings on payment protection insurance (PPI).
Arc Legal boosts Irish presence with Axa motor deal
Arc Legal Assistance has signed a new motor insurance deal with AXA Insurance Ireland as part of its plans to expand further into the Irish market.