News
Guernsey still top European domicile with 50% captive rise
The number of insurance licenses issued in Guernsey last year rose more than 50% compared to the previous 12 months.
Legal groups to fight Travelers PI refusal
The Law Society and the Solicitors Regulation Authority are to take on insurer Travelers over its aggregating of fraud claims and subsequent capping of a solicitors’ professional indemnity insurance policy.
BMW recalls Mini over water pump
BMW has issued a worldwide recall for 235 535 cars for two models from its iconic Mini range because of a suspect water pump that may cause fires.
Minister backs telematics in fight for lower premiums
It is hoped that a combination of telematics technology and changes instigated by the Driving Standards Agency to make the theory test harder to pass will lead to lower premiums for new drivers.
More proactive risk management is needed survey finds
While global companies are intensifying their focus on enterprise-wide risk management, most corporate leaders believe their companies have a long way to go in building an effective, risk-aware culture.
Many countries still vastly underinsured against earthquake
Seismic events caused economic losses of over $276bn in 2010-2011, yet earthquake-prone countries remain underinsured, according to a Swiss Re report.
Catvest launches energy risk model
Catvest Petroleum Services, the specialist risk modelling, quantification and structuring firm for the energy and chemical sectors has launched its energy risk model and industry loss index.
Portugal, Spain and Turkey lead the way in European banassurance
Banks are most important distributors of insurance in Portugal, Spain and Turkey, according to recent research.
Fitch launches Indonesian portal
Fitch Ratings has launched a website specifically for Indonesia.
Indian insurers turn their back on agency model
Since April 2010 the Indian life insurance industry has lost nearly a third of its corporate agents while most of the large life insurers have lost 50% of corporate agents, according to a new report.
Catvest launches energy risk model
Recently founded specialist risk modelling firm Catvest Petroleum Services has launched an energy risk model and industry loss index.
Costa Concordia claims could cost £1bn
Insurers could face claims of up to $1bn from the Costa Concordia cruise liner disaster making it the biggest marine loss ever, analysts have warned.
Swiss Re warns quakes remain underinsured
Swiss Re has described the cumulative effects of earthquakes over the past two years as “overwhelming” but says the world’s worst affected areas remain underinsured.
IBRC bankrupts Sean Quinn in Ireland
The Irish Bank Resolution Corporation has had Sean Quinn, pictured, declared bankrupt in Ireland after successfully overturning his previous bankruptcy in Northern Ireland.
Cunningham Lindsey COO axed following structure review
Cunningham Lindsey said that it will not be replacing the role of chief operating officer.
Colosso speaks out following Gallagher exit
Adrian Colosso has told Post he is keen to return to the market once he has completed his 16-month stint on gardening leave from Gallagher Heath.
Solicitors reminded of responsibilities in PPI cases
Solicitors have been reminded of their responsibilities by the Solicitors Regulation Authority when canvassing for clients that want help with claiming for mis-sold payment protection insurance.
Quinn declared bankrupt in Ireland
Quinn Group founder Sean Quinn has been declared bankrupt by the courts in Dublin today.
Profits still elusive in growing Indian insurance market
Further growth is anticipated for India’s insurance market but achieving profitability remains a struggle for many insurers, according to a recent AM Best report.
XL quiet over stricken liner losses
Lloyd's insurer XL is keeping tight-lipped about its potential claims exposure as lead insurer for the stricken cruise liner Costa Concordia.
Gracey sets out charter for IFIC clients
One of Bobby Gracey’s first moves as the new CEO of forensics investigators International Fire Investigators and Consultants has been to draw up a charter guaranteeing services standards to customers.
Former Power Place boss joins Perkins Slade
Perkins Slade has appointed former Power Place and Towergate boss Darren Rowe to the position of managing director corporate.
Coface predicts recession rate of 0.1% for Europe in 2012
Credit insurer Coface warned about the systemic nature of the Eurozone crisis at its annual country risk conference but does not expect a return to depths of the 2008-2009 crisis.
Pallett to identify weaknesses at UIB
International reinsurance broker UIB has signalled an operational shake-up by promoting Steven Pallett, pictured, to the position of executive director, operations and administration.