News
Fraud event: ‘Fronting’ definition must be agreed before IFR and Bill introduced
The insurance industry must agree a definition and approach towards ‘fronting’ before the introduction of the Insurance Fraud Register and the Consumer Insurance Bill comes into force, delegates were warned.
Fraud event: Disagreement over point to target fraudsters
Application fraudsters are ‘hiding behind the web’ but disagreement reigns over whether to target scammers at the point of quote or sale. Panellist Steve Sweeney, head of motor insurance at Money Supermarket, said his firm is working towards stamping out…
Fraud event: Gadget fraud on the rise as consumers look to upgrade
Insurers have been urged to “up the ante” against the rising number of younger consumers engaging in household fraud in order to gain a gadget upgrade.
Thai floods: Waters set to overwhelm Bangkok
Loss adjusters are preparing for the complete flooding of Bangkok as waters reach the centre of the city.
Ace Q3 results described as 'outstanding' in tough conditions
Ace has today reported a Q3 loss of $0.09 per share, compared with net income of $1.97 per share for the same quarter last year.
MoJ reaffirms ban on referral fees
Justice Secretary Kenneth Clarke has announced that the banning of referral fees will be debated in the House of Common next week and, if passed by vote, will be added to Legal Aid, Sentencing and Punishment of Offenders Bill which is currently…
Post Blog: Crash-for-cash and carry
The plastic bag has got somewhat of a bad reputation in recent years.
Brunel sees rise in PII renewals
Brunel Professional Risks saw a rise in the number of solicitors’ practices placing their professional indemnity insurance (PII) business through the indemnity insurance broker by the 1 October renewal deadline.
UK motor insurers cough up for PPO
Insurers are seeing a steady rise in demand for periodic payment orders, backing the findings of the Institute and Faculty of Actuaries.
Chaucer resignations trigger double appointment
Board members at Chaucer Syndicates have announced two long-term appointments following the resignations of high-profile figures Bob Deutsch and Richard Scholes.
UK and Norway forge new energy agreement
The UK and Norway have signed an agreement affirming their commitment to cooperation on energy and climate issues.
Money Supermarket tops list of most 'visible' websites
Money Supermarket has been found to be the most visible online insurer in terms of top search engine positioning, according to the latest industry study carried out by Greenlight.
LV gets first S&P rating
Standard & Poor’s has assigned BBB+ ratings to LV and Highway insurance - the core operating entities of Liverpool Victoria Friendly Society.
Thai flood losses set to escalate - Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including feelings of a “whiff of Katrina” among loss adjusters about the Thailand floods that have already inundated two industrial estates in Bangkok - affecting…
Labour front bencher admits concerns over Jack Straw's referral fee ban plan
The Labour Party is not wholly behind its minister Jack Straw’s proposal to ban referral fees it has emerged.
Wide ranging losses predicted following Turkish quake
Insured losses from the magnitude-7.2 earthquake in eastern Turkey could be anywhere between $55m and $170m, according to catastrophe modeling firm Air Worldwide.
IAG on track to meet FY12 guidance
Insurance Australia Group managing director and CEO, Mike Wilkins, advised shareholders at the company's annual general meeting that it was on track to deliver its results guidance for the 2012 financial year.
Ruling “sting in the tail” for insureds
Michael Frisby, partner in the dispute resolution team at law firm Stevens & Bolton has commented on a test case which has opened up the possibility of legal expenses policyholders choosing their own solicitors.
Ruling puts paid to ‘cash-cow’ legal expenses insurers
A test case in the High Court has opened up the possibility of legal expenses policyholders choosing their own solicitors.
Clayden and Egan land new Aviva roles
Dominic Clayden and Sean Egan have been handed new executive level positions at Aviva.
Muir calls for better motor insurance PR
Paul Muir, managing director of broker club One Answer Network, has called on motor insurers and brokers to be honest and open with the public to improve the industry’s image.
Dublin City activates emergency flood plan
A major emergency has been declared in the Irish capital Dublin after severe flooding hit the city.
Global insurers restricted in Ireland after downgrade
Allianz, Aviva and RSA Insurance have been restricted from providing cover for Irish state companies because Ireland has been demoted by credit rating agencies.
R&Q gets £30m bank takeover fund
Randall & Quilter has completed a £30m funding package with Clydesdale Bank Corporate and Structured Finance to fund future acquisitions.