News
Summers third-party claims judgment leaves door open for industry victory
Zurich has been credited with helping the insurance industry win the war against grossly exaggerated third-party claims, despite losing its battle in the Supreme Court.
Hardy boss looks to the future after restructure and sale are finalised
Hardy chief executive Barbara Merry has said the business can now “look to the future”, following a restructure of its property treaty book and conclusion of its sale to US insurer CNA.
Ageas Hong Kong's IFS rating affirmed
AM Best has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “A-” of Ageas Insurance Company (AICA) Hong Kong.
Four arrested in suspected crash-for-cash bus fraud
Four men in Liverpool believed to be part of a suspected crash for cash scam involving a bus have been arrested.
Commission disclosure overhaul could hit Germany hardest
Commission disclosure requirements in the revised Insurance Mediation Directive would have a particular impact on the German market according to law firm Norton Rose.
Towergate confirms departure of directors
Towergate has confirmed the departure of integration director Jonathan Walker and former finance director Tim Philip.
MASS calls for wider response to rise in third party accidents
The Motor Accident Solicitors Society is urging industry leaders to address a range of contributing factors rather than simply claims management companies, following a record rise in third party accidents involving bodily injury.
Quindell boss outlines FTSE ambitions
Quindell chief executive and chairman Rob Terry has outlined his strategy to lead the business he founded nine years ago into into a FTSE-100 company through acquisitions and organic growth.
Telematics firm Cobra UK to launch 'innovative' new product
Vehicle technology firm Cobra UK is planning to launch its windscreen mounted telematics box at a Post event next week.
In conversation with Zurich: Personal lines broking
Personal lines brokers have endured endless change in insurance distribution and survived – and they continue to do so.
Hyperion talk turns to integration as Windsor deal is given regulatory approval
Hyperion has pushed through the acquisition of Lloyd’s broker Windsor after receiving regulatory approval.
Tempo directors eye capacity providers and team hires following launch
The directors behind the launch of multi-line MGA – Tempo Underwriting – are hoping to forge a strong relationship with the broking fraternity after outlining their criteria for imminent team hires.
Capita hires National Australia Bank boss Holm as commercial director
Capita Insurance Services has appointed former National Australia Bank head of insurance John Holm as commercial director.
Fraud prevention in mind as Admiral appoints supplier CRIF
Admiral has appointed CRIF Decision Solutions as its new supplier for the automation of processes to support fraud prevention during the purchasing process.
Faber Global expands in Asia with Singapore office
Faber Global, the facultative and wholesale reinsurance arm of Willis Group, has increased established a presence in Singapore to cover facultative reinsurance for Singapore and Asia.
Future Generali targets rural segment with microinsurance product
Generali’s Indian joint venture Future Generali has launched a microinsurance product for rural business owners.
Biba "disappointed" with IMD revisions
The British Insurance Broker’s Association said it was “very disappointed” by the five year timetable set for mandatory commission disclosure in the draft version of the Insurance Mediation Directive II.
IMD II to spark regulation for adjusters, claims managers and aggregators
Legal experts believe the European Commission’s latest Insurance Mediation Directive – IMD II – will lead to tighter regulation for loss adjusters, claims management companies and aggregators.
Quindell division delivers record licence pipeline results
The Quindell software and consulting division has finished the first half of 2012 with licence pipelines at record levels, following a Q2 in which multiple new insurance and telecoms contracts and extensions were sealed.
Brightside lands Debenhams car insurance deal
Brightside has signed a contract with department store Debenhams managing the retailer's car insurance offering.
Unprecedented rise in third party accidents, claims IFA report
Claims management companies are to blame for an 18% increase in the number of third party accidents involving bodily injury over the past year, according to the Institute and Faculty of Actuaries’ annual report.
Novae Re exodus to damage reinsurance book
The resignations of the chief executive of Novae Re’s Zurich operation Gunter Saacke, chief underwriting officer Will Schuerch and 10 underwriters have sparked concerns that the insurer cannot retain business written by certain divisions.
Biba slams European timetable for commission disclosure
The British Insurance Brokers’ Association has accused the European Commission of ignoring the views of major financial and insurance bodies in its decision to impose a timetable to mandate disclosure of insurance commissions.
Solvency II implementation date confirmed
The 1 January 2014 implementation date for Solvency II was confirmed by the European Parliament today.