News
RDT: cloud computing aids quick products
Insurance administration solutions specialist RDT has claimed the launch of the first rating engine using cloud technology will enable insurance providers to take products to market via aggregator sites more quickly and cheaply.
Allianz: double-digit rate rises needed
Allianz is set to apply rate increases of up to 10% on its commercial and retail books to return to profitability.
CILA to target skills gap with claims qualification
The Chartered Institute of Loss Adjusters is set to launch a claims qualification targeting back office claims managers, to fill what it perceives as a skills gap in the market.
JLT extends 'firepower' to £350m as bolt-on buys beckon
Jardine Lloyd Thompson has extended its unutilised debt facility beyond the £200m mark in order to fund new acquisitions.
SAGB shells out on deal
The Shellfish Association of Great Britain has agreed an exclusive deal with broker A-One Insurance Group and underwriter David Oliver Associates to provide commercial cover for its members.
Brit takeover to complete within two weeks
The takeover of Brit by Achilles is "ahead of schedule", with the deal expected to close in the next two weeks.
RBSI CEO Geddes reveals plan to float in tranches
Royal Bank of Scotland Insurance chief executive Paul Geddes has revealed that if it decides to go down the initial public offering route in 2012, this will probably be done in a number of tranches, rather than one offering.
Kidnap & ransom policy rise likely in Middle East
Insurers will see an uptake of kidnap & ransom policies that contain repatriation costs if the civil unrest in the Middle East and North Africa continues, Chubb has claimed.
Biba to take FSCS fight to the House of Commons
The British Insurance Brokers' Association, the Association of Independent Financial Advisers and the Association of British Insurers are set to discuss Financial Services Compensation Scheme levies at the House of Commons next week.
Allianz launches repairer forum
Allianz has confirmed the launch of a new repairer forum to provide two-way consultation between the insurer and its network of suppliers.
Hiscox targets political unrest for opportunities
Hiscox is looking for underwriting opportunities arising from the political unrest in the Middle East and North Africa.
LBG sees slight rise in pre-tax profit
Lloyds Banking Group's general insurance business pre-tax profit in 2010 was £372m marking an increase of 1% on the 2009 result (£367m).
Solicitor ARP audit after cover under-reporting
Solicitors' professional indemnity insurers could escape an increase in their exposure to the assigned risks pool following an audit of their premiums.
Markerstudy buy boosts bold ambition in mobile repair
Markerstudy Group has set its sights on becoming a "major player" in the windscreen repair market following its acquisition of Auto Windscreens.
Prior reserve release staves off RSA underwriting loss
Prior year reserve releases of £267m have helped insurer RSA avoid posting an underwriting loss of £29m for 2010.
New rating factors needed after European gender ban
Insurers will have to look at additional rating factors now that gender is not an option, following the European Court of Justice ruling that a person's sex can no longer be used to calculate insurance premiums or annuity rates.
Superbrands insurer rankings revealed
Allianz has set its sights on rising up the rankings next year in an annual league table of the UK's most successful brands after climbing 111 places to 219.
Career development & CSR: MCE seeks out graduates
MCE Insurance is seeking graduates to expand and strengthen its workforce.
Career development & CSR: Six rugby clubs rewarded with coaching
QBE has rewarded six rugby clubs with the opportunity to train with three top premiership players through its sponsorship arrangement with premiership rugby.
Career development & CSR: Davies report pushes for increase in female directors
Lord Davies’ report Women on boards has recommended that FTSE-100 companies increase their proportion of female board directors to 25% by 2015.
Plexus law adds to Manchester branch
Defendant insurance law specialist Plexus Law has recruited a team of specialists to its Manchester office.
Swiss Re set to be hit by $800m New Zealand claims
Swiss Re has estimated its claims cost from the earthquake in New Zealand on 22 February 2011 to be approximately $800m, net of retrocession and before tax.
A&A Group laments "victory for boy racers" in ECJ ruling
Steven McPherson of A & A Group, which specialises in young high risk drivers, has said the European Court of Justice ruling against gender-determined pricing is a “victory for boy racers”
New rating factors needed after European gender ban – Insurance News Now – 2 March 2011
Post news editor Mairi MacDonald outlines this week’s major general insurance stories including what the ECJ’s ruling that a person’s gender can no longer be used to calculate insurance premiums or annuity rates will mean for insurers.