News
ABI wins 10% damages uplift challenge
Claimants that have entered a conditional fee arrangement before 1 April 2013 will not qualify for the 10% uplift in damages after the Association of British Insurers won a challenge in the Simmons v Castle case.
Allianz Legal Protection extends BMW affinity deal to motorcycle brand
Allianz Legal Protection has become the legal expenses provider for BMW’s motorcycle brand BMW Motorrad, in an affinity arrangement through specialist motorcycle broker Devitt Insurance Services.
RK Harrison unveils professional indemnity cover for art sector
R K Harrison Insurance Services has developed a professional indemnity insurance policy for art market professionals.
Groupama downgraded after non-payment of coupon
Groupama Group has been downgraded by Standard and Poor's following the French insurer's statement on Friday that it will not pay the next coupon on 22 October on junior subordinated notes issued in 2007.
Homeowners expose themselves to unpaid claims, report finds
Almost 60% of homeowners still expect their insurer to pay out for any weather-related damage to their home, no matter what its state of repair, Axa's winter claims research has revealed.
Groupama parent downgrade "irrelevant" to UK insurer
Groupama Insurances's chief executive has said that a revision of the security rating of its France-based parent Groupama Group has "no relevance" on the UK insurance operation.
Autonet welcomes new motor dealer to affiliate network
Van insurance broker Autonet has unveiled a new affiliate partner collaboration in a deal that will see Perrys Group join the firm's networking scheme.
DLG shares attract surge in interest
Stockbrokers have reported a surge in interest in Direct Line Group shares ahead of its flotation tomorrow.
Quindell acquires software provider Metaskil
Outsourcing firm Quindell has this morning confirmed the acquisition of Metaskil, a specialist solutions provider to the insurance industry.
Yutree appoints former Bluefin underwriting director to MD role
Commercial broker Yutree has appointed former Bluefin underwriting director Kevin Hancock as its managing director.
Global insurance federation vows advocacy role
Thirty-one insurance associations representing 87% of the worldwide insurance business formally established the Global Federation of Insurance Associations today.
Crawford appoints business development head for EMEA
Claims management firm Crawford & Company has appointed Tobias Walter as business development director for the Continental Europe, Middle East and Africa region.
Manulife Maylaysia appoints new CEO
Manulife Insurance Berhad (Manulife Malaysia) has appointed George Chew as chief executive.
Torrance backs clarity over burglar confrontation
Chris Grayling, pictured, plans to change the law to ensure householders who "over-react" when confronted by burglars will not face prosecution.
Italy's GI sector weathers major changes
Legislative changes, industry consolidation and on-going economic difficulties are changing the landscape of Italy's general insurance market, according to AM Best.
FATCA approach provides certainty, says Guernsey Finance
Guernsey Finance has welcomed the announcement from the island's government that it is seeking to negotiate a partnership agreement with the US to implement the Foreign Account Tax Compliance Act.
Barclays acquires ING Direct UK
Dutch bank and insurer ING has sold its UK savings and mortgage business to Barclays, generating an expected loss after tax of €320m.
Global power industry sees rising claims
The global power industry continues to see a steady rise in the number of large insured claims, putting pressure on the supply of global power at a time of rising demand and on the future of the industry itself, broker Marsh said a report published today.
Gerlach joins Uniqa's Romanian board
The Romanian subsidiary of Uniqa, Uniqa Asigurari de Viataum, has appointed Wolf-Christoph Gerlach to the new position of chief operating officer.
Large power industry claims on upward annual curve, says Marsh
The number of claims above $25m (£15.6m) emanating from the global power industry continues to rise annually, according to a Marsh report published today.
Chinese market must target sustainable growth
After a period of rapid expansion, the Chinese insurance market must adjust for sustainable and healthy growth, according to a report by AM Best.
RMS and NMB in catastrophe modelling partnership
Catastrophe modelling firm RMS and independent Lloyd's broker Newman Martin and Buchan have entered into a long-term partnership for modelling and data analytics.
MP faces ban after driving without insurance
Jon Cruddas, the Labour MP for Dagenham and Rainham, was arrested on suspicion of driving without insurance and valid MoT.
Renewable energy would generate growth, says RSA
Steve Kingshott, RSA's global director of construction, engineering and renewable energy, has called on the government to step up investment in renewable energy, arguing that it has a "critical role" to play in economic recovery.