News
6 December: Driving into trouble
Following an accident involving a lorry driving through the window of a bric-a-brac shop, Mr Policyholder got in touch with his insurer, who then passed on the enquiry to their loss adjusters.
Brokers buoyant about future growth
Firms are setting their sights firmly on growth despite concerns about the economic outlook, according to Macquarie Relationship Banking’s 2011 Insurance Broking Benchmarking Report.
Cleaning contractor’s scheme for UK brokers launched
Gleaming Wholesale is a new scheme dedicated to the cleaning industry for UK insurance brokers and intermediaries, underwritten by Hiscox Insurance.
Japan to set up Asian nat cat insurance plan
Japan is planning to establish a large-scale insurance system encompassing the Asia-Pacific region to cover developing countries hit by devastating earthquakes, typhoons and other disasters.
Torus acquires Starr’s Continental Europe renewal rights
Specialty insurer Torus's syndicate 2243 has acquired the renewal rights to the European business of CV Starr's syndicate 1919.
US P&C losses climb to $38.6bn
AM Best has released its estimates for catastrophe-related losses experienced by the US property & casualty industry through the first nine months of 2011, which show that losses so far have nearly doubled total year-end 2010 losses.
Torus takes CV Starr Lloyd’s renewals
The Lloyd’s arm of specialty insurer Torus is to take over renewals of CV Starr’s Lloyd’s syndicate's continental European marine, casualty, financial lines and general property business.
Munich Re receives funding from German ministry for climate change initiative
Munich Re has teamed up with the Caribbean Catastrophe Risk Insurance Facility and specialist microinsurance broker Micro Ensure to develop insurance solutions developing countries vulnerable to climate change.
Aviva falls foul of broadcasting code
Broadcasting regulator Ofcom has ruled that Aviva's sponsorship of ITV's hit drama Downton Abbey strays too close to being advertising.
RK Harrison completes MWA acquisition
RK Harrison Group has completed the acquisition of specialist high net worth broker Mercury West Associates following due diligence and the approval of the transaction from the Financial Services Authority.
XL and Aon launch e-accounting system
The insurance segment of XL Group has launched an e-accounting system with broker Aon.
NIG names three in SME push
Broker-only commercial insurer NIG has appointed area business development managers at its regional headquarters in Bristol, Maidstone and Watford.
IUA calls for market solution to green risks
Market-driven solutions to environmental liability risks should take precedence over possible EU-enforced compulsory financial requirements, the International Underwriting Association has argued.
Slingsby returns to RSA as director of Global speciality lines
Former RSA executive Steve Slingsby is returning to the insurer as programme director for global speciality lines, after a two-year stint at rival QBE.
Challenges lie ahead for China's insurance market
The Chinese insurance market’s share of world insurance premiums has grown from 1% to 4% in the space of a decade, but with rapid growth come new challenges, according to an Aon Benfield report.
Slingsby rejoins RSA after QBE role
RSA has named former QBE UK and Europe head of operations Steve Slingsby as global programme director for global specialty lines.
China’s P&C growth behind average
Reinsurance broker Aon Benfield says China’s property and casualty insurance growth has been too slow.
Insurers cannot rely on internal models
Two-thirds of insurers aim to use independent experts to validate market risk assumptions in internal models, according to a survey from Towers Watson.
Control Risks warns of political instability
Businesses face worldwide risks from political instability and economic uncertainty from governments and from below by social protest and increasing scrutiny of corporate practices, Control Risks has warned.
Legal and tax issues top Airmic worries
Global economic and political uncertainty has had little impact on global insurance programmes, the second annual Airmic casualty benchmarking survey has found.
Hastings replaces Parry with Latter
Hastings Direct has appointed Liz Latter as head of insurer development to allow Adrian Parry to step down from the role next year.
China’s P&C growth behind average
Reinsurance broker Aon Benfield says China’s property and casualty insurance growth has been too slow.
TIP recruits and targets care homes
The Insurance Partnership has taken on three staff to bolster existing operations and aid its expansion into the care home sector.
DAS continues to provide legal expenses for Sterling
DAS has extended its contract to provide Sterling Insurance customers with legal expenses cover.