News
Absolute bought by Blue Cube
Blue Cube Group, a provider of intelligent protection security solutions, has acquired Sussex based cognitive interviewing business Absolute to create a new business combining security and fraud solutions primarily targeting the insurance and financial…
Japanese majors post strong 05-06 non-life results
Fitch Ratings today said major Japanese non-life insurers posted strong underwriting results for the fiscal year ending March 2006 (FYE06), following a drop in earnings in FYE05 as a result of natural disasters.
Fitch releases new capital model methodology
Fitch Ratings has released an enhanced methodology for incorporating a review of an insurer's in-house capital model into its ratings. According to the agency it believes that such models can often promote a superior understanding of risks in addition to…
Davis appointed deputy at Competition Commission
Minister of State for Trade, Investment and Foreign Affairs, Ian McCartney, today announced the appointment of Peter Davis as the new deputy chair to the Competition Commission.
Equitas admits disappointment over US liability claims and asbestos reserves
Lloyd's run off vehicle Equitas today announced that its retained surplus fell by £18m from £476 m to £458m for the year ending 31st March 2006. Its solvency margin (retained surplus stated as a percentage of net claims outstanding) also fell marginally,…
Fortis to recruit over 250 new staff as its moves to new office
Fortis has secured agreement to develop a new office in Gloucester, which will see it recruit more than 250 staff over the next two years.
IUA launches e-claims pilot
Members of the International Underwriting Association have begun a pilot project to test a new electronic claims system for the London Market. The scheme will allow companies to assess new technology designed to make the submission of claims information…
FSA appoints new small business boss
The Financial Services Authority has today appointed Mark Rothery as chairman of the smaller businesses practitioner panel. He succeeds Ruthven Gemmell who - having served a two year term as chairman - stands down and assumes the role of deputy chairman…
NIG hires new regional boss
NIG has appointed Peter Lycholat as head of operations north. He will have overall responsibility for NIG’s Glasgow, Ashington, Manchester, Liverpool and Leeds regions.
Credit insurer opens London Market business
Credit insurer Coface UK has created a new London Markets team to co-ordinate the promotion of its range of products to brokers and specialist financial institutions dealing within the London market.
Weightmans' record year triggers bonus scheme
Insurance Law firm Weightmans has celebrated its record breaking year with a number of partner and associate promotions throughout its national practice.
New binder for pubs and clubs launched
Leisure broker Marsh & Co has launched a new product for bars and nightclubs which it claims will save them up to 40% on premiums.
Brit reveals new appointments
Brit Insurance has announced the appointment of two senior positions to its operations division.
Highway joins 1 Answer Network panel
Highway Insurance has joined the insurer panel of 1 Answer Network, the personal lines solutions network. In total, there are now five key panel insurers with numerous others still in discussion about involvement.
Inaction over climate change could leave industry bust: Report
The insurance industry must face up to the growing threat of climate change or risk being swept away, according to a report released today by Lloyd's.
New NIG distribution team unveiled
Insurer NIG’s director of distribution, David Parker, has disclosed the key players in his new management team.
S&P ratings for Best Re unaffected by deal
Standard & Poor's Ratings Services said today that its financial strength and counterparty credit ratings on Tunis-based B.E.S.T. Reinsurance are not affected by the announcement that the unrated Salama Islamic Arab Insurance incorporated in the Emirate…
PBSH appoints marketing director
PBS Holdings, encompassing Primary Group-owned commercial, agricultural and personal accident underwriting agencies, has appointed Simon Taylor to the newly-created role of marketing director.
Taxi Direct reports 75% saving
Taxi Direct claims to have reported 75% savings on the time taken to generate quotations within three months of installing the company’s broking system, CDL Classic.
Ex Forbes marine broker joins SBJ
Broker SBJ has appointed Andrew Harding as chairman. He has also been appointed a director.
Lloyd's marine unit launches comprehensive database
Lloyd’s Marine Intelligence Unit has launched www.lloydsmiu.com - the largest and best marine database in the world.
Medical insurer warns of plastic surgery risks
The Medical Defence Union has paid out just under £8.5 million in compensation and legal costs over the last ten years to patients harmed by cosmetic surgery procedures. The majority of claims were made by patients who had breast and facial surgery and…
Oval formalises claims contract
Broker Assistance the motor claims management company for brokers, has won a contract from Oval Insurance Brokers to handle all motor claims suffered by its clients at three of its offices.
Novae receives rating
Novae Group plc is pleased to announce that it has been informed by a rating agency that the operating and business plans of its new FSA-regulated insurance company subsidiary, Novae Insurance Company Limited, meet the standards of an indicative…