News
PSTF: Ignoring mobile interaction could be ‘devastating’
Companies that are yet to fully embrace the web should look straight to mobile to ensure competitive advantage.
PSTF: Cloud technology counters cost while catering for demand fluctuations
Post’s Strategic Technology Forum debated cloud technology from a user’s perspective, the perils of ignoring mobile and risks surrounding social media.
News review 14 - 20 September 2011
A review of news stories which broke between 14 and 20 September 2011.
Lloyd's to only take on "inherently profitable" business plans
Lloyd’s has denied coming down harder on underwriters to write reasonably priced risks but admitted it will be more difficult to convince the market of profitable business plans.
Online consumers opt for brand recognition over price
Price comparison site customers are more likely to buy from recognised and trusted insurance brands, than from those simply offering the lowest quote, according to a Gravytrain survey.
London Market standing firm despite early setbacks
The London Market remains robust despite an unprecedented volume of large claims in 2011.
RSA to head to High Court – Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including RSA’s plans to head to the High Court in a bid to defend its policy of using a wholly-owned subsidiary for motor repairs, which has been found to add as much as 25…
Lockton gears towards Midlands growth
Newly appointed Lockton managing partner Debbie Day has outlined a widespread expansion programme at the broker’s Midlands office as her first major project in her new role.
European Commission to propose additional contract law in October
European Justice Commissioner Viviane Reding is today meeting with leaders of European insurance companies to discuss European contract law in the insurance sector.
European Commission to propose additional contract law in October
European Justice Commissioner Viviane Reding is today meeting with leaders of European insurance companies to discuss European contract law in the insurance sector.
Catlin praised for community commitment
Bosses at Catlin Underwriting Agencies were last night presented with the ‘Heart of the City’ award for their efforts in helping to transform a failing inner-city school.
Lloyd's chairman set to receive prestigious gold medal
Long-serving Lloyd’s chairman Lord Levene is to receive the institution’s gold medal in honour of his “tireless” contribution over the past decade.
LAS launches interactive 'facebook-style' claims system
Insurers and policyholders have been invited to get to grips with a “revolutionary” online claims management system which allows 24-hour interactive access to the progress of individual claims.
Sterling unveils new adjusting panel
Sterling Insurance has named Davies, VRS Vericlaim and Questgates to its new-look loss adjusting panel.
Genworth appoints sales development director
Genworth has named Kostas Halatsis as sales development director for its mortgage insurance business in Europe.
AM Best affirms Milli Re ratings
AM Best Europe has affirmed the financial strength rating of Milli Reasurans Turk Anonim Sirketi (Milli Re) (Turkey) at B++ (Good) and the issuer credit rating of “bbb”. The outlook for both ratings is stable.
Ferma adds two new members
The Federation of European Risk Management Associations (Ferma) has extended its membership to the risk management associations of Malta (MARM) and Slovenia (SI.RISK).
Torus acquires Broadgate
Torus has entered into an agreement with Clal Insurance Enterprises Holdings to acquire London-based Lloyd’s Syndicate 1301 and its corporate members Broadgate Underwriting Limited and Broadgate Underwriting 2010 Limited.
Lloyd’s announces £697m interim loss
Lloyd’s made an interim loss before tax of £697m for the six-month period ending 30 June 2011, in what is already likely to be the second most expensive year ever for insurers.
Hurricane Irene losses valued at $2.82bn
Insured industry losses resulting from Hurricane Irene have been given a final Paradex index value of $2.82bn by Risk Management Solutions.
Trade credit insurers rated as stable
Moody's has given a thumbs up to the recovering trade credit insurers that had been hit by the recession - Euler Hermes and Coface.
Novae syndicates' underwriter promoted to director
Novae Syndicates has promoted Jonathan Butcher from active underwriter to group underwriter director, with Ian Burford and Robert Forster appointed to the roles of joint active underwriters.
Biba names Homer as chairman
The British Insurance Brokers’ Association has announced that Andy Homer will become chairman of the trade association in January 2012.
Barbican to bid for Omega
Barbican Insurance has refused to comment on rumours that it will make a takeover bid for Omega.