News
Hardy poaches Chaucer man for new 2007 syndicate
Lloyd's (re)insurer Hardy Underwriting Agencies has snnounced that Patrick Gage will be joining HUA in time to launch a new syndicate for the 2007 underwriting year of account.
QBE merges Lloyd's and non-Lloyd's PI management
QBE today announced with immediate effect, the management of the professional indemnity portfolios of QBE Insurance (Europe) and DA Constable Syndicate 386 will be merged.
FarmWeb Launches Safe Storage Service for Farmers’ Insurance Certificates
FarmWeb, the national network of agricultural insurance brokers, is to help farmers comply with legislation by offering a new service for the secure storage of Employers Liability certificates. The service, the first of its type in the UK, will be…
Asbestos decision: ABI believes government open to reform
Stephen Haddrill, Director General of the ABI, met with John Hutton MP, Secretary of State for Work and Pensions this afternoon in the wake of the UK government's announcement to amend the Compensation Bill.
Government mesothelioma decision does nothing to make system fairer
The government’s decision today to amend the Compensation Bill to change the system of making claims for mesothelioma has prompted criticism from the Association of British Insurers
Lloyd's Newline sets up UK company arm
Following the lead of many Lloyd’s based operations, Odyssey Re’s Newline Underwriting Management has set up a UK-regulated insurance company to be based in London.
Government acts to reverse asbestos decision
The TUC has welcomed the decision by the government to amend the Compensation Bill to reverse last month's House of Lords ruling that slashed the compensation payments made to mesothelioma sufferers and their families, as predicted by Post Magazine last…
Highway pays out £6.8m in personal injury care case
Highway Insurance has agreed to pay £6.8m in an out-of-court settlement to a car crash victim in a dispute over whether it or the local authority should pay for the man's care.
Hiscox redomicile plan moves closer
Hiscox today said that work has progressed with regards to moving its domicile to Bermuda. "Work has progressed on the move and we will make a more detailed statement on this at the time of the half-year results," the insurer continued.
FSA consults on insurance special purpose vehicles
The Financial Services Authority is today consulting on rules to introduce to the UK, a new fit-for-purpose regime for Insurance Special Purpose Vehicles. The proposals form part of a wider consultation on the implementation of the EU Reinsurance…
Apil calls for insurers to follow NU lead in suspending plaques cases
APIL and Norwich Union have reached an agreement to put pleural plaques cases on hold pending a crucial House of Lords judgment which could affect thousands of claimants.
Plus One launches age-related MPPI
White label insurance provider PlusOne Insurance Solutions has launched an age-related mortgage payment protection insurance available exclusively to it’s “own brand” partners.
Cullum names first broker buy
Recently launched acquisition vehicle Cullum Capital Ventures has announced its first broker purchase - Moffatt Saunders based in Ware in Hertfordshire.
Towergate creates new £150m specialty division
Towergate has signed a number of senior staff to operate its new sales and service division which will service high volume and low premium specialty business including military cover and caravans.
FSA unveils plans for GI
The Financial Services Authority today set out further details of its post-implementation review into the effectiveness of its general insurance conduct of business regime. The regulator added the review is being conducted in line with the FSA's move…
RSA to cut 1000 UK jobs
Royal and Sun Alliance has revealed it is to cut 1000 UK jobs in a bid to be more profitable.
Inter Resolve completes IT system roll-out
InterResolve, the independent claims resolution specialist, has announced that a bespoke case management system, developed to its specification by Eclipse Legal Systems, has been delivered and installed.
Henderson makes board appointments
Henderson Insurance Brokers has made a number of internal promotions and a series of external appointments.
Folksamerica Re downgraded by AM Best
AM Best has downgraded the financial strength rating of Folksamerica Re to A- (Excellent) from A (Excellent) and the issuer credit rating (ICR) to "a-"from "a". The rating has been placed under review with negative implications.
Plumeri calls for Federal disaster solution
Willis Chairman and CEO Joe Plumeri has called for a federal solution to help US (re)insurers prepare for natural or man-made disasters.
Allianz Cornhill acquires Home and Legacy Insurance Services
Allianz Cornhill Holdings plc has completed the purchase of the Home and Legacy Insurance Group - the specialist mid to high net worth household insurance intermediary.
Olympus capital exhausted by White Mountains reserves shock
The fate of Bermudian reinsurer Olympus Re effectively hangs by a thread today as its principal cedent, White mountains discovered enough new 2005 losses to wipe out Olympus’s remaining capital.
RSA creates new strategy and marketing role
Royal & SunAlliance has appointed Gordon Henderson as strategy & marketing director. Reporting to the UK chief executive, Bridget McIntyre, Mr Henderson will join the company on 10 July 2006.
Public and private healthcare will integrate say experts
Academics, economists and insurers have joined together in predicting an inevitable shift to an integrated healthcare provision in the UK, fusing the resources of the public and private sectors.