News
Marsh appoints new Scottish chair
Marsh has appointed its UK chief operating officer, John Nicholson, to be chairman of its Scottish operations, effective 1 January 2008.
Fitch: UK GI market stable
Fitch Ratings has said today that it is maintaining a stable outlook on the UK general insurance sector as insurers remain on the path of underwriting discipline in the face of more challenging market conditions.
Congress sends new 7-year TRIA extension to Bush
The US House of Representatives has sent a final compromise version of a 7-year extension to the US Terrorism Risk Insurance Act (TRIA) state terrorism insurance backstop to the White House for presidential approval.
Bermuda government wins convincing election victory
Bermuda’s Progressive Labour Party (PLP) has won yesterday’s general election on the island.
Catlin in $225m US Cat bond deal
Lloyd’s and Bermudian (re)insurer Catlin has announced that it has bought coverage totalling $225m under a catastrophe swap agreement in the event of severe US natural catastrophes over a three-year period. .
They're under starters orders, and they're off
The inaugral Insurance Race Day will take place on 22 April 2008 at Kempton Park following an initiative by Post, Insurance Age, Professional Broking, Cover and Reinsurance magazine.
Bupa acquires disease management provider
Bupa has acquired Health Dialog, one of the largest players in the health information and disease management sector in the US.
Airline underwriters set for least profitable year since 2000
The last three months have seen the airline insurance market settle into a consistent pattern of around -10% average premium reductions for lead airline hull and liability insurance, according to Aon’s December airline insurance news.
Catastrophes kill 20 000 in 2007
More than 20 000 people were killed by natural and man-made catastrophes in 2007, according to preliminary estimates by Swiss Re.
HSBC and Brit back start up
Direct Fleet Insurance, the online auction-based insurance service for commercial fleet, has reported a succesful first month.
Lloyd’s to build school in China
Lloyd’s is to fund the building of a new primary school in Southern China.
Oval unveils restructure and forms new broking arm
Broking consolidator Oval today announced the restructuring of its London broking operation, and the formation of a new retail broking team.
Former Dual boss to head up new JLT underwriting arm
Jardine Lloyd Thompson Group today announces the establishment of Thistle Underwriters haded by former Dual boss James Gerry.
Brit and HSBC join start up panel
Direct Fleet Insurance, the online auction-based insurance service for commercial fleet, has declared its first month a success.
FSA outlines travel insurance regulation plans
The Financial Services Authority today published a consultation paper setting out its detailed plans for regulating travel insurance sold alongside a holiday – known as Connected Travel Insurance (CTI) – which is mainly sold by travel firms and holiday…
FSA publishes its new ICOB rules
The Financial Services Authority today published its new Insurance Conduct of Business sourcebook, which sets out the standards and requirements for general insurance firms on how they deal with their customers.
New FSA travel insurance regime will protect consumers says regulator
The Financial Services Authority (FSA) has published a Consultation Paper setting out its detailed plans for regulating travel insurance sold alongside a holiday – known as Connected Travel Insurance (CTI) – which is mainly sold by travel firms and…
FSA publish new ICOB sourcebook
The Financial Services Authority (FSA) today published its new Insurance Conduct of Business sourcebook (ICOBS) which sets out the standards and requirements for general insurance firms on how they deal with their customers.
Former Lloyd's boss joins broker board
Lloyd's broker RFIB Group has confirmed that Christine Dandridge will join the boards of RFIB Holdings and RFIB Group Ltd as a non- executive director on 1st January 2008, subject to regulatory approval.
FSCS hands back £40m
General insurance companies are to benefit from a £40m pound levy refund from the Financial Services Compensation Scheme in the New Year.
Biba welcomes Governent moves on terrorism exclusions in travel insurance
The British Insurance Brokers' Association has welcomed the news that the Treasury has acknowledged the need to ensure that consumers are aware whether or not terrorism cover is included in their travel policy.
Allied World buys out AIG stake for $563m
Allied World Assurance Company has announced that it has bought back founding investor AIG’s remaining 19.6% stake in the company.
Integro relocates London base in growth drive
Integro Insurance Brokers has relocated its London office to 100 Leadenhall Street, EC3 from 81 Gracechurch Street.
RMS disappointed by lack of river focus in Pitt review
Responding to today's interim report of the Pitt Review on flood risk, Dr Claire Souch, director of model management at Risk Management Solutions, said: "While it is encouraging that the report recognises the need to address surface water flood risk,…