News
Flagstone Re adds four new execs
Bermuda-headquartered reinsurer Flagstone Re has announced four senior additions to its underwriting team, appointing Andreas Peter, Dominic Kirby, Rafael Saer, and Irshied Tayeb to senior roles in the underwriting team.
Indie Trial: Condon hospitalised
The Trial of the three former directors of Independent Insurance has been adjourned after Philip Condon was taken ill complaining of chest pains, reports Michelle Worvell from the court.
NG acquires Peter Adams Insurance Brokers
Broker Network Members NG Insurance Services has acquired Peter Adams Insurance Brokers.
St. Paul Travelers launches office policy for professional firms
St. Paul Travelers has launched an office package policy for professional firms, which will include lawyers, architects and chartered surveyors.
British Insurance launches income payment protection policy
British Insurance has brought another product to market, which will offer income payment protection insurance.
THB profits rise on 31% growth
THB Group has announced profit and turnover for the financial year ended 30 April 2007 increased. The group posted 31% organic growth on continuing operations followed by a £2 million exceptional gain from the sale of its provincial retail division.
Uncertainty prevails over draft solvency II legislation
Rodney Bonnard, actuarial partner at Ernst & Young, commenting on today’s publication of the draft EU directive on Solvency II, said: "The publication of the directive is a significant milestone on the road to Solvency II which will require that insurers…
Millions of motor policies could be invalid says Uswitch
More than 2.5m motorists could be driving with invalid insurance after providing inaccurate information during the application process, writes Kirsten Powley .
MIB claims numbers fall
The Motor Insurers' Bureau this morning reported receiving 36 000 claims throughout last year, a reduction of 4.7%, writes Kirsten Powley .
Broker: Lomas knew of payback deals
Dennis Lomas was aware of ‘payback’ reinsurance terms and contracts between Independent and Ireco in late February 2001 and it was believed that Michael Bright was almost certainly aware of their general nature, if not the finer detail, according to…
New Premium Finance Facility from Policyfast
Policyfast has launched a new premium finance facility for use by its broker panel.
Cooper Gay recurits UK operations boss from Marsh
The Cooper Gay Group has appointed Iain Pickard as chief operating officer its UK business. Mr. Pickard will report to and support UK chief executive officer James Summers in managing the London operations.
Liberty International Underwriters focus on Professional Indemnity growth
Liberty International Underwriters (LIU) has launched a number of Professional Indemnity web-based products.
Loss Adjusting Review - Friday deadline
Following the success of Post's inaugural Loss-Adjusting Supplement in 2006, we are once again planning a comprehensive run-down of the loss-adjusting market, which will also include loss assessors. If you have received your questionnaire and have not…
NU: Fire safety regulations ignored by 38% of businesses
Up to 38% of businesses are unaware of the requirements of the Regulatory Reform (Fire Safety) Order, compared to 43% in October, with over one third of firms are failing to carry out a crucial fire risk assessment, according to Norwich Union Risk…
Budget rebrands holding company
The Budget Group of Companies has changed its name to the BGL Group. The name change aims to reflect the increasing number of operating divisions, with six brands including: Budget & Dial, Junction, comparethemarket.com, Bennetts, Fusion and ACM ULR.
Capita launches pre-bind checking service
Capita Insurance Services launched today a pre-bind checking service for Lloyd’s managing agents.
ABI: Floods to cost £1.5bn
The Association of British Insurers now estimates that some 27 500 homes and 7000 businesses were affected. The increased number of business claims, together with clearer information about the amount of damage to many homes, has led the ABI to revise its…
FSA quizzed Ireco boss
Today’s proceedings saw prosecution barristers Emily Radcliffe and James Pavry submit evidence from the regulator’s investigation in 2004 over Independent’s collapse, writes Ralph Savage .
Post Magazine office move - new contact details
From 9 July, Post Magazine will move with the Incisive Media Insurance Division to 32-34 Broadwick Street, London, W1A 2HG. All telephone numbers will change.
Professional Broking moves office
From 9 July Professional Broking, the management magazine for insurance brokers, will move with the Incisive Media Insurance Division to 32-34 Broadwick Street, Soho, London, W1A 2HG. All telephone numbers will change. Please call 020 7316 9000 for…
Citizens boosts liquidity with $1.95bn
Florida's state-run insurer Citizens has completed two transactions to provide $1.95bn in extra claims-paying liquidity for its personal and commercial lines accounts, the AM Best newswire has reported.
Allianz rehab team grows
A trio of specialist staff have been hired by Allianz Insurance to help coordinate rehabilitation services for claimants who have suffered severe injuries, writes Kirsten Powley .
Ferma against risk management standard
The Federation of European Risk Management Associations announced it considered undesirbable a formal international risk management standard. It added that such standard would not benefit European companies.