News
EU collective redress mechanisms open to abuse says Ferma
The collective redress mechanisms recommended by the European Commission could be an open door for abuse according to market insiders.
Liberty Mutual Europe to lead new aviation consortium
Liberty Mutual Insurance Europe is forming a consortium to underwrite Aviation Insurance in a leading capacity, on behalf of itself, Ace Global Markets and Hiscox.
Market looks to politicians to overcome Dutch flood stalemate
The Dutch Minister of Infrastructure and Environment plans to intervene in the flood debate raging in the Netherlands in a bid to overcome the current stalemate.
Rospa teams up with Sportscover to improve sporting safety
The Royal Society for the Prevention of Accidents has partnered with Sportscover in a bid to boost safety across the UK’s sport and leisure industry.
Marsh continues African expansion with Nigerian broker deal
Marsh has completed its acquisition of Alexander Forbes’ interest in Nigerian insurance broker Femi Johnson & Company.
Willis urges policyholders to keep terrorism cover up-to-date
James Hill, divisional director, financial solutions, Asia at Willis has warned the broker is still finding companies with out of date terrorism/sabotage policies.
Liberty Mutual forms aviation consortium with Ace & Hiscox
Liberty Mutual Insurance Europe is to work with Ace Global Markets and Hiscox in a consortium for aviation cover.
Costs of Australia's disasters could triple by 2050
Costs of natural catastrophes in Australia could rise from A$6.3bn to A$23bn by 2050 as population density and storms increase according to a new white paper.
Oval boosts EBITDA by 15% in 2012
Oval has recorded a 15% rise from £15m to £17.3m in its EBITDA for the year ending 31 May.
Argenta strengthens board with internal appointments
Argenta Holdings has appointed Graham Allen and Ian Maguire to its board of directors.
Dwindling reserves could put pressure on profitability says Moody's
The pace of reserve releases for non-life European insurers will continue to slow into 2013 as the effects of the general market downturn from 2005-09 continue to play out, according to Moody's.
UK banks told to raise £27bn
Figures from the Bank of England’s financial policy committee show a shortfall of £27.1bn in capital held by five UK financial institutions, half of which were at Royal Bank of Scotland.
German floods could cost insurers €5.8bn
Historic floods in Germany are likely to generate insured losses of between €4bn and €5.8bn, according to catastrophe modeller AIR.
Helphire to resume dividend payments following High Court order
Helphire Group has been granted permission to resume paying dividends by the High Court.
German floods could cost insurers up to €5.8bn
Historic floods in Germany are likely to generate insured losses of between €4bn and €5.8bn according to AIR Worldwide.
Good disclosure practices alone are not enough says Ferma
Public disclosure of a company's social issues is good, but by itself does not show that the risks are under control, the Federation of European Risk Management Associations has warned.
CII "well placed" help to improve banking standards
The Chartered Insurance Institute is “well placed” to help improve standards in the banking sector, according to chief executive Sandy Scott.
Coface downgrades Eurozone GDP after Germany concerns
Economists at cred insurer Coface, are downgrading their GDP growth forecast for the Eurozone, reflecting concern about Germany, the largest EU economy.
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Mydrive hires former EE director
Insurance telematics specialist Mydrive Solutions has appointed Anthony Keyworth as chief operating officer.
Indian trade union calls for Insurance Bill to be scrapped
Members of the All India Insurance Corporation Employees Association called for the government to withdraw the controversial Insurance Bill at their annual conference this week.
RSA appoints CET for home emergency services
RSA has signed up claims specialist CET to provide home emergency services to customers.
LTG report could lead to further Solvency II delays says KPMG
Global Consultancy firm KPMG has cast doubt on whether the recommendations from Eiopa’s long-term guarantees assessment impact study will satisfy all parties and stave of further delays in the Solvency II schedule.
UK insurers must act to minimise climate change exposure
The UK insurance market’s exposure to international losses as a result of climate change is greater than its exposure to losses on the domestic market, a PWC study has found.