News
Trade credit insurers paid equivalent of £4m a week in claims last year
Trade credit insurers paid businesses the equivalent of £4m in claims every week last year.
Cyclone Debbie moves to New Zealand; IAG estimates A$140m loss
As Cyclone Debbie reached New Zealand, Insurance Australia Group estimated A$140m (£85m) of losses while loss adjuster Crawford is using drones to help.
Beale warns on Lloyd's costs and commissions
Following a poor 2016 underwriting performance Lloyd's CEO Inga Beale has warned the market to improve its cost model.
Lloyd's celebrates 20th year in Hong Kong
Lloyd's CEO Inga Beale was in Hong Kong to celebrate 20 years of having an office in the Special Administrative Region.
Admiral drops van panel to sell direct
Admiral will underwrite van insurance directly rather than through its broker business Able and its panel of insurers, the group has revealed.
Willis Towers Watson and AIG launch cyber cover for global airlines
Willis Towers Watson and AIG have created a cyber insurance product designed to combat the emerging risks facing global airlines.
FM Global launches interactive global flood map
FM Global has launched its interactive global flood map for executives and risk managers.
Helios acquires Charmac Underwriting
Helios Underwriting has acquired the Lloyd's limited liability vehicle Charmac Underwriting for £2.24m in cash.
County Group saw 92% profit rise in 2016
The County Group saw a 92% increase in pre-tax profits in 2016, up to £1.1m from £588,041 in the previous year.
Applied Systems completes Biba software house review
Applied Systems has completed the British Insurance Brokers’ Association’s software house review.
Flood Re marks first birthday
Flood Re, the non-profit flood reinsurance scheme, marks its one year anniversary today.
In Depth: Using lie detectors to root out fraud
How broker Only Young Drivers is taking a novel approach to application fraud
Lemonade expands to Illinois six months after New York launch
Lemonade has expanded to Illinois as part of its plans to expand nationwide and reach 97% of the US population by 2017.
Lloyd’s fines Amlin £630,000 for premium trust deed breach
Lloyd’s has fined Amlin Underwriting £630,000 for breaches of the Lloyd’s premium trust deed.
HCML acquires Excell Medical, opens Bristol office
Rehabilitation firm HCML has acquired Excell Medical Reporting, a Medco-registered reporting company, and opened a new office in Bristol.
Reinsurance rate decline slows at April renewals
The 1 April reinsurance renewals saw rate reductions range from flat to mid-single digit reductions, an improvement compared to the low double digit range seen 12 months ago, according to Willis Re.
Open GI completes Biba software house review
Open GI is the first software house to complete an independent review by the British Insurance Brokers’ Association.
LMA leads industry call for data protection law change
The Lloyd’s Market Association has coordinated an industry response calling for the Information Commissioner's Office to change its guidance over incoming data protection rules from the European Union.
IFB opens up data sharing programme to solicitors and investigators
The Insurance Fraud Bureau has opened up its membership to insurance solicitors, investigators, loss adjusters and third party administrators.
Davies makes first acquisition since private equity investment
Davies Group has acquired regulatory services business Cynergie UK, its first deal since gaining a new equity backer.
Post People: 3 - 7 April
The latest people moves in the industry.
Ex-Zurich head of sales joins GRP Broking
Chris Sime has left Zurich to head up business development at GRP Broking, the specialist investment vehicle for brokers and managing general agents.
QBE and Proteus to work with Steadfast for marine
Australian broking group Steadfast has signed an agreement with marine underwriting agency Proteus and insurance giant QBE for marine lines.
Businesses and households suffer after Cyclone Debbie
Last week's category 4 Cyclone Debbie has left a trail of destruction meaning thousands of claims for insurers and reinsurers.