News
Mass “cautiously” welcomes transport committee report
The Motor Accident Solicitors Society said it cautiously welcomes the Transport Select Committee’s follow-up report on the cost of motor insurance published today, but warned that there is still a long way to go in “dispelling the myths” about whiplash…
Marsh appoints loss-adjuster to head energy and construction
Global broker Marsh has recruited Vincent Marrot to be its global leader for energy engineering and leader of construction engineering for the firm's international division.
Mitsui Sumitomo to hit accident market
Mitsui Sumitomo at Lloyd’s has appointed Steve Ranzetta as class underwriter to target the UK and international accident & health market.
Capita recruits FSA’s Greg Carter
Capita Commercial Insurance Services has recruited Greg Carter from his role regulating wholesale insurance brokers at the Financial Services Authority.
Catastrophes could halve QBE profits
QBE has warned its profit margin could be cut in half by catastrophe claims.
Bradford top for motor premium rises
Bradford saw the highest increases in motor insurance premiums last with a whopping 17.1% compared with an overall average below 5%, Confused.com and Towers Watson claim.
Philippines non-life market expected to consolidate in wake of new capital requirements
The local Philippine's insurance representative body has noted that some local non-life insurers may have challenges meeting the government's new paid up capital requirements.
XL may have $185m Thai flood claims
Insurer XL has said its preliminary net loss estimates from the Thailand floods could be as much as $185m.
Industry responds to cost of motor insurance follow up report
The industry has delivered mixed responses to the Transport Committee's follow up to the cost of motor insurance report.
Further committee recommended in cost of motor insurance follow up report
MPs have called on the government to establish a cross-departmental ministerial committee on reducing the cost of motor insurance and publish a plan to address each aspect of the problem.
EC gender directive guidelines a ‘disappointment’
The European Commission’s guidelines for applying the soon-to-be-implemented gender directive have added clarity but have been labelled a “disappointment”.
Breast implant scare could leave insurers facing multi-million-pound-bill
A £400m bill could land at the door of clinics and their insurers in the fallout of the banning of Poly Implant Prothese breast implants.
Allianz launches ‘landmark’ scholarship scheme
Up to 50 brokers across the country are expected to sign up for a “landmark” Allianz Commercial scholarship scheme aimed at boosting standards of professionalism within the industry.
Growth in green energy prompts Rural to enter market
Specialist agricultural insurer Rural, part of UKGI, is the latest business to launch a suite of green insurance products to meet the growing demand for cover from farmers investing in renewable energy schemes.
Mitie wins out in four-year repair tender with LV
Mitie has secured a four-year contract to manage and deliver building repair services valued at £20m with LV.
Insurers welcome compensation reform as legal firms blast government policy
Major UK insurers have responded to David Cameron’s vow to “kill off” the UK compensation culture by welcoming a reduction of health and safety red tape, while demanding safeguards to maintain safe workplaces.
News analysis: Ombudsman moves to end ‘one size fits all’ fees for mass complaints
FOS consultation proposes supplementary fees to tackle record PPI complaints workload.
Market moves: New faces in the broker space
This week saw a flurry of moves in the broking sector, with both Lorica and Alan & Thomas brining in several new faces.
Bartlett & Company becomes Lloyd's broker
Bartlett & Company has today announced its new position as a registered Lloyd’s broker.
RBSI appoints former British Gas rebranding guru
Rick Vlemmiks is set to join RBS Insurance as chief marketing officer, UK & International.
Aspen Risk Management gains chartered insurers status
Aspen Risk Management has been awarded corporate chartered insurers status by the Chartered Insurance Institute.
Omega goes quiet on sale talks
Lloyd’s insurer Omega is refusing to comment on speculation that sale plans are on the backburner.
Names protest group calls for Lloyd's meeting over Equity censure
A Names protest group that was burdened with losses from Equity Syndicate’s 2007 account is seeking a meeting with the Lloyd’s Enforcement Board to discuss the findings of its investigation.
Mixed 2012 renewals for global reinsurance market
The 1 January 2012 renewals saw a shift in industry behaviour as both insurers and reinsurers implemented more sophisticated, customised approaches to risk assessment and mitigation, according to Guy Carpenter.