News
IBIS 2016: Caliber Collision leaves door open for possible European entry
Caliber Collision has refused to rule out an emergence into the European collision repair market as it continues to ramp up acquisitions in the US, delegates were told at the IBIS Global Summit 2016.
Allianz creates digital Asia analytics hub
Global giant Allianz has launched an innovation venture in Singapore for Asia.
Blog: Motor Insurance World 2016 - as it happened
For the first time ever, Post's hugely popular conferences - Motor Claims and Insurance Telematics - came together under one roof for one super charged event designed to address the challenges shaping motor insurance in 2016 and beyond.
ABI: 85% of claims from floods caused by storms Desmond, Eva and Frank paid out
More than four out of five claims from the winter floods have been paid, with total damages expected to reach £1.3bn, according to the Association of British Insurers.
Net combined ratio for motor insurance to rise to 104% this year
Motor premiums have risen to £13.9bn but the sector remains a loss-maker for many insurers, according to figures from Deloitte.
IBIS 2016: Days of human intervention in low value motor claims could be numbered
The use of technology will dramatically change the way motor claims are handled, delegates were told at the IBIS Global Summit 2016 in Barcelona on Tuesday.
Towergate raids Dual for regional head Joyce to run new 'go to' specialty unit
Towergate Underwriting has recruited Dual Corporate Risks' regional boss Martin Joyce to lead a newly formed specialty business.
Number of deafness claims falls after ‘unsustainable’ peak
The number of deafness claims tumbled sharply in the latter half of last year, reversing a growing trend that many viewed as unsustainable.
Vienna Insurance Group reports 97.8% COR but profits down
A low interest rate environment put pressure on the financials at Vienna Insurance Group, with profit before tax in Q1 2016 down 22.5% to €101.5m (£77.6m 3M 2015: €130.9m).
Chubb reveals new proposal for European brokers in SME space
Brokers can access a quicker service for SME clients through Chubb’s new easy solutions offering, with quotes issued within 24 to 48 hours following a request.
Chubb appoints Joe Fernandez to key role for Eurasia and Africa
Joe Fernandez will run financial lines underwriting strategies in Eurasia and Africa as the new financial lines product manager for the region.
IBIS 2016: Google has no plans to be dealer or manufacturer of cars
Entering automotive dealership and manufacturing is not the agenda for Google, delegates were assured at IBIS Global Summit 2016 in Barcelona today.
Corporations ‘unlikely to support database on cyber attacks’
Establishing a database of cyber attacks on UK corporations for insurers to better assess risks, could be “fraught with practical challenges” experts have warned.
Flooding in Sri Lanka causes over £1bn in damage
Days of heavy rain has caused widespread disruption in Sri Lanka killing at least 92 people and displacing over 250,000 people.
Kumamoto earthquakes to cost Japan over £700m
The cost of April's powerful earthquakes in the Kumamoto prefecture for insurers and the government have exceeded 123bn yuan (£712m) according to the General Insurance Association of Japan.
Towergate to tackle legacy challenges with specialist unit
A separate reporting unit will manage the simplification of Towergate’s legal structure and legacy issues with the broker’s chief risk officer, Sarah Dalgarno, in charge.
Stranded holidaymaker in Mexico ‘didn’t declare medical condition’
Axa has declined to cover medical bills for a pensioner who fell ill on holiday in Mexico because he allegedly did not declare an existing medical condition.
Principal unveils expansion plans for ‘cracking’ new acquisition
Principal Insurance will move its newly acquired specialist motor broker from Kendal to Lancaster amid plans to more than quadruple staff.
Volkswagen telematics tie-up is ‘model for future’
Trak Global has tied up with Volkswagen to provide tech support for new drivers.
#Postpeople: 23 - 27 May 2016
Who has moved where in the world of insurance this week?
ABI calls for cyber attack database
Insurers should have access to a national database of recorded cyber attacks in order to better provide cover, according to the Association of British Insurers.
Sharon Long leaves XL Catlin for Marketform
Former XL Catlin claims director Sharon Long has joined Lloyd’s insurer Marketform in the same role.
US consultancy Imaginatik to target UK and European insurers with Ingenin deal
US-based innovation consulting and software provider Imaginatik is to target the UK and European insurance sector after striking a partnership with Ingenin.
Axa quits investing in tobacco
Axa has announced it will stop investing in the tobacco industry where it invests more than €1.7bn (£1.3bn).