News
Zurich scores hat trick at risk management awards
Zurich took three accolades at this year’s Risk Management Awards.
BSIA calls on insurers for support in fight against theft
The British Security Industry Association is calling on insurers to back the fight against rising levels of heavy machinery theft, following two recent incidents in Kent where criminals used mini diggers to rip out ATM machines.
ABI Motor 2011: Telematics is the biggest challenge facing aggregators
Speaking at the Association of British Insurers Motor Conference on what the future face of distribution looks like, Tom Cooper, pictured, executive director at Igo4, said that within 15 years we could have a market where everyone is rated on a…
Softer capital charges for bonds positive for European insurers
European Commission proposals to lower capital charges for longer-dated unsecured corporate and financial institution bonds should mitigate the capital flight from these asset classes that is a likely side-effect of Solvency II, says to Fitch Ratings.
Hungarian insurance market down by 2% in Q3 2011
Total underwritings' volume of the Hungarian insurance market stood at HUF 623.4b (E2.1b), 2.2% less than in Q3 2010 by the end of September 2011.
Escape of water claims hit £2m daily
According to Cadogan Keelan Westall a quarter of claims made on flats are for damage caused by escape of water.
Swiss Re announces delisting of outstanding shares
Swiss Re has announced the delisting and squeeze out of outstanding shares in Swiss Reinsurance Company Ltd.
Ecclesiastical scoops risk management award for metal theft work
Ecclesiastical has been rewarded for its work combatting metal theft at the Risk Management Awards.
IUA director replaces Hurst-Bannister as LMG chairman
Stephen Riley, executive director of Global Aerospace and chairman of the International Underwriting Association, is to become chairman of the London Market Group.
ABI Motor 2011: Insurers sign up to tyre scheme
Major motor insurers Axa, Aviva, Direct Line and RSA are among more than 50 companies that have agreed not to charge an additional premium to policyholders fitting winter tyres.
ABI Motor 2011: Thoresen outlines five key priorities
Otto Thoresen, ABI director general has outlined the tough measures that form part of its strategy to deliver a better motor insurance deal to customers.
Catlin and China Re deal predicted to be catalyst for Lloyd’s investment
The “landmark” strategic partnership between Catlin and China Re is expected to be a catalyst for a boom in Lloyd’s investment from insurers in emerging economies.
Homeserve set to lose 5% of customers
Homeserve, the home repair business hit by a mis-selling scandal, has warned customer numbers will fall by 5% as a result of its telephone selling problems - costing it £15m.
Miles Smith expands with two buys
Lloyd’s broker Miles Smith has bought wholesaler motor fleet specialist Parker Norfolk and the UK operations of RL Davison.
Keelan Westall grows business by 45%
Broker Keelan Westall has announced that new business income has risen by more than 45% in the past year, with the number of quotations reaching record breaking levels in the past two months alone.
ABI Motor 2011: “Tough love” proposals to cut young driver accidents
The Association of British Insurers has set out radical proposals to cut the high level of deaths and serious injuries involving young drivers.
ABI Motor 2011: Cheaper ‘work journeys only’ car insurance proposed
Speaking at the Association of British Insurers Motor Insurance Conference tomorrow, John Woodcock, MP, Labour's shadow transport minister will propose that unemployed young people should be offered the choice of cheaper "work journeys only" car…
Anglo Irish to challenge Quinn bankruptcy
The Irish Bank Resolution Corporation, formerly the Anglo Irish Bank, is set to challenge Sean Quinn’s insolvency proceedings in Northern Ireland, according to the Irish Independent.
Allianz hails ‘first sanity in 30 years’
Allianz’s UK boss Andrew Torrance has said “the first period of sanity in 30 years” in the personal motor insurance market has helped make personal lines the growth area for the firm.
PPI complaints climb to over 3000 a week
The Financial Ombudsman Service said that the rate of payment protection insurance claims has been “pretty unsettling”.
RSA's CFO quits to join Lloyds Banking Group
George Culmer, director and chief financial officer of RSA has resigned to take up the position of group finance director of Lloyds Banking Group.
Generali and its main subsidiaries placed on negative watch
Ratings service AM Best has placed the financial strength rating of “A+” (Superior) and issuer credit rating of “AA” of Assicurazioni Generali SpA and its main subsidiaries under review with negative implications.
RSA CFO quits for Lloyds Banking job
RSA’s director and chief financial officer George Culmer has resigned from his post to work as group finance director of Lloyds Banking.
Evolution promotes three
Commercial underwriting specialist Evolution Underwriting has promoted three of its senior staff.