News
NAIC members want action over Tria
Key members of the National Association of Insurance Commissioners (NAIC) have written to US Congressional leaders urging that the federal government should ensure marketplace stability and economic security ahead of the expiry date of the Terrorism Risk…
Third of claims withdrawn in Axa household fraud pilot
A third of household claims were withdrawn following the use of conversation management techniques in a pilot project, insurer Axa revealed at last week’s Post Magazine Claims Club seminar in London.
Serial fraudster prosecuted on behalf of six major insurers
A 38-year-old woman has been prosecuted at St. Albans Crown Court, for trying to defraud insurers.
Wessling takes over at Allianz Japan
Joachim Wessling is the new chief executive of Allianz Fire and Marine Insurance Japan, better known as Allianz Japan.
Closure of 2001 underwriting year to signal end of Lloyd's losses
When Lloyd’s closes its 2001 underwriting year at 31 December 2003 it will include some £3.5bn of gross claims from the World Trade Center tragedy. According to accountants Littlejohn Frazer, the effect of this will be to produce an overall bottom line…
Lloyd's reports 127% increase in profit
Lloyd's today announced a pro forma annually accounted profit of £1892m in 2003, an increase of 127% on 2002.
Lloyd's broker signs up with Australian coverholder
Monument UK, the Lloyd’s insurance and reinsurance broking business, has been appointed as broker for the one of the largest Lloyd’s coverholders in AustraliaThe SRS Underwriting Agency account secured by Bruce Copp, account director at Monument UK, has…
ABI supports World Health Day by highlighting cost of road accidents
Road Safety is the key theme for this year’s World Health Day on April 7th organised by the World Health Organisation (WHO). In support of this initiative, the UK’s insurance industry is today highlighting the human and financial cost of road accidents.
Town & Country wins Motiva contract
Claims services firm Town & Country Assistance has won an outsourcing contract from contract hire specialist Motiva Vehicle Contracts, with a view to reducing the downtime and administration arising from road traffic accidents.
Jardine Lloyd Thompson to sponsor Chester race
Insurance broker Jardine Lloyd Thompson has announced that it will be sponsoring the Dee Stakes horse race on the last day of the Chester Racecourse May festival in a three-year deal.
AM Best affirms A rating for Catlin Insurance Company
AM Best has affirmed the financial strength rating of A (Excellent) for Catlin Insurance Company.
Chubb sells 18.7% stake in Hiscox
Hiscox has announced that US insurer Chubb has sold its holding of 54.5m shares (18.7% of the issued ordinary shares of the company), which have been placed with a wide range of institutional shareholders at 165pence. Hiscox's share price has slipped…
RSA sells off recently acquired Polish unit
Royal & Sun Alliance has sealed a deal to sell its 82% stake in the Polish life insurance company T U na Zycie Royal PBK SA that it bought five years ago for an undisclosed sum.
Obesity rise threat to insurance, claims Swiss Re
The life insurance industry must not ignore the impact of increasing number of obese people, according to a new report from Swiss Re.
PWC study shows firms fail to take advantage of corporate governance
Financial institutions are falling short of reaping the potential strategic advantages of improved governance and have equated good corporate governance with meeting the demands of regulators rather than improving the quality of management.
FSCS names and shames 16 brokers
The Financial Services Compensation Scheme (FSCS) is encouraging consumers who may have lost money as a result of their dealings with any one of 16 firms recently declared in default by the Scheme to get in touch.
Capita in online legal expenses deal
Capita Insurance Services has signed a three-year partnership agreement to offer Commercial Legal Expenses as the preferred commercial legal expenses product on the Acturis Broker platform.
Alan and Thomas snaps up Dorset broker
Alan and Thomas Insurance Brokers have acquired insurance broker Abrey Beatty.
West brought in at Novae
Liability specialist Novae Underwriting has appointed Ian West as underwriting director.
Kiln profits increase three fold
Kiln has announced record profits before tax of £33.1m for the year ending 2003.
HBOS links up with BMW Financial Services
St Andrew's Insurance, part of HBOS Group, today announced a new partnership with BMW Group Financial Services, Great Britain for the provision of creditor payment protection and return to invoice price GAP policies on the full range of BMW and Mini cars…
Rate reductions for MMA’s travel policy
MMA Insurance has introduced a number of rate reductions and simplified product literature for Flagship, its single trip travel insurance.
Finsure adds to sales team
NIG's premium finance subsidiary, Finsure, has appointed Scott Feltham as regional sales executive for the western home counties, south west and Wales.
Chaucer profits top £35m
Lloyd's insurer Chaucer has announced record finalresults for the year ended 31 December 2003, with profits increasing by £32.8m from £3m in 2002.