News
Child abuse report hidden amid insurance claims fears
The John Jillings’ report into abuse claims at children’s homes in north Wales was kept from the public amid fears it would generate costly insurance claims, the BBC has reported.
Losses from European floods could hit £3bn, says Swiss Re
Industry-wide insured losses on recent flooding in central and eastern Europe is expected to hit between $3.5bn (£2.4bn) and $4.5bn (£3bn), according to estimates by Swiss Re.
Lloyd’s building sold in £260m Ping An deal
The Lloyd’s building has been sold by present owner Commerz Real to a Chinese insurer in a deal worth £260m.
Oriental Insurance to lead flood-claims assessment in India
Oriental Insurance is thought to be assessing the claims arising from the devastating floods in Uttarakhand, on behalf of all four PSU general insurers, according to an industry source.
Whiplash fraud “minimal” in Hong Kong says Kwiksure
Suspected whiplash frauds remain minimal in number in Hong Kong according to data from Asian broker Kwiksure.
Police stop one man’s three-year motor-fraud spree
Police in China finally caught up with a man who crashed a car on average every three days for almost three years as part of an insurance scam.
GIC Re launches hazard map after flooding “wake up call”
Devastating floods in the Indian state of Utterakhand has prompted Indian reinsurer GIC Re to unveil a new hazard map.
Government will step-in if Flood Re “runs out”
The insurance industry will not be responsible for recapitalising Flood Re in the event that it “runs out of money” following a one-in-200 year event, the Association of British Insurers has confirmed.
Low-levels of insurance could belie true cost of North-India flooding disaster
Uttarakhand now faces the challenge of settling the large number of claims likely to be filed in the wake of the devastating floods.
Indian insurance sector set for premium spike
Direct insurance premiums will climb 11% over the next four years according to Indian Chamber of Commerce president Rajiv Mundhra.
North West law firms feeling Laspo pinch, states report
More than 70% of the North West’s personal injury law firms claim that civil litigation reforms introduced in April are having a negative impact on their businesses, accrosing to a survey carried out by Liverpool-based firm O’Connors.
McLarens merges with agriculture specialist
International loss adjuster, McLarens said today it has merged with UK farming specialist Agrical for an undisclosed fee.
Growing threat of Egyption violence after Badie arrest
The potential for Islamic radicalization has increased following the military deposition of former leader Mohammed Morsi, Willis has warned.
Parabis Scotland hires McNaught as Edinburgh-based partner
Parabis Scotland has appointed defendant insurance lawyer Cameron McNaught as a partner in its newly-opened Edinburgh office.
Direct Line Group reaches settlement over Bethany Probert compensation claim
Direct Line Group has confirmed that it has reached a settlement in the high profile Bethany Probert case.
Air Asia to offer insurance products in India
Malaysian airline Air Asia is looking to expand its insurance products into India.
Crawford recruits from Zurich for UK field ops lead
Crawford has swooped for a new head of operations for its field adjusting team, recruiting from Zurich Municipal.
Industry alerted to upcoming changes to claims portal
The Ministry of Justice's claims portal may need to be replaced by another system depending on how further legislative changes around small claims play out.
Balva revealed as third biggest PI insurer
Balva was named as the third biggest professional indemnity insurer in the UK market this year in the Law Society’s Insurers’ Guide 2013-2014.
Sumatran earthquake unlikely to see significant insured losses
AIR Worldwide is not expecting significant insured losses following Tuesday’s magnitude 6.1 earthquake in Sumatra.
Estonian motor market to account for two-thirds of GI market by 2017
Estonia will see growth in its motor insurance market after a rise in car sales, according to a report into the sector.
Post Audio Supplement - 4 July 2013
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Incisive Media journalists recognised at industry awards
Journalists from Post and sister title Insurance Age won two categories and received three highly commended awards at the British Insurance Brokers' Association's 2013 journalist of the year awards.
Howden heads for Chile with broker stake
Hyperion-owned broker Howden has acquired a 25% holding in a Chilean broker.