News
ABI critical of draft Flood Re finance rules
The Association of British Insurers has deemed the draft rules on the financial management of Flood Re "unworkable" following the launch of a consultation on the scheme's regulations.
Beazley CEO Horton braced for MH17 war claims
Beazley chief executive Andrew Horton has admitted the speciality insurer could face exposure following last week’s Malaysia Airlines flight MH17 disaster.
Guy Carpenter appoints head of EMEA & international P&I
Guy Carpenter has appointed Simon Smith as head of international protection and indemnity as well as overseeing the Europe, Middle East and Asia region.
Northerners four times more likely to commit fraud
Residents of the North of Britain are four times more likely to commit fraud than their counterparts in the South according to figures from desktop counter fraud company VFM services.
Axa appoints Kilshaw as London branch sales manager
Axa commercial lines and personal intermediary has appointed Martin Kilshaw as London branch sales manager.
Counter-fraud specialist Gracey goes solo
Crawford & Company's former counter-fraud boss Bobby Gracey has set up his own consultancy firm after quitting a senior role at the US investigation firm Global Options.
Ex-Independent colleagues Rutter and Blakemore launch underwriting start-up
The former head of London market at Independent Insurance Keith Rutter has co-founded a start-up underwriting firm alongside his ex-Independent colleague John Blakemore.
Insurance Fraud Awards 2014: Shortlist revealed
Today Post is pleased to reveal the shortlist for the 2014 Insurance Fraud Awards.
Omdbudsman upheld fewer GI complaints in Q1
The Financial Services Ombudsman has resolved a smaller proportion of general insurance complaints in favour of consumers for the first quarter of 2014/15.
Underwriting hires in Miami aid Brit's regional platform expansion
Brit has bolstered its Miami-based Latin America and Caribbean platform with the addition of Carlos Becerra as vice president for underwriting and Jimena Salgado as an underwriter.
London market presence set to contract as Beazley targets US
Beazley is expecting continued growth in the US alongside a London market reduction after its US operation aided a 61% increase in group-wide profit before tax of $132.9m (£77.8m) in the opening six months of the year.
Rammasun kills over 100 as next typhoon forms
Typhoon Rammasun has killed 94 people in the Philippines and 33 in China with Typhoon Matmo following on its heels.
Sportscover makes double senior underwriting appointment
Sportscover Europe has appointed Simon Bowring and Gary Pigot as senior underwriters based in London.
Allianz offers first telematics product in BMW deal
Allianz Insurance is to provide insurance to motor manufactuer BMW’s i3 and i8 electric vehicles.
Atrium agrees to settle MH17 hull war loss
Atrium Syndicate 609 has confirmed it is the lead hull war policy insurer for Malaysia Airlines and has agreed to settle that aspect of the MH17 loss.
My Licence live on Open GI
Insurers can now access the My Licence hub through Open GI, with a number of panel insurers already signed up to the service.
Mactavish calls for contract legislation to clarify broker role
Insurance contracts legislation should include guidance on the role of brokers in overcoming contracting issues between insurers and their customers, insurance governance firm Mactavish has said.
Little Chef turnaround firm 'in talks' to buy Unipart Automotive
Venture capital firm R Capital is in talks to buy beleaguered motor repair firm Unipart Automotive, Post understands.
Ageas updates rating process for van product
Ageas has changed the rating process for its Van Guard product pricing policies on the individual circumstances of the customer rather than a postcode.
Treasury to unveil guide to investing in UK infrastructure
Insurance companies will be among financial services firms targeted by chief secretary to the Treasury Danny Alexander’s guide to investing in UK infrastructure.
Disputed commercial claims taking 35 months to settle
Disputed commercial claims are taking almost three years to settle on average, according to a study by insurance governance specialists Mactavish, with roughly half of claims being contended by insurers.
Banks off the hook as AIG recovers mortgage bond settlements
AIG is no longer expected to pursue further legal action against major banks after recovering more than $2bn (£1.17bn) in settlements over mortgage bonds that left the insurer on the brink of collapse.
Direct Group teams up with Autonet on accidental death product
Independent broker Autonet has appointed Direct Group to take over the provision of its accidental death insurance product following its launch earlier this month.
Hood Group partners with Asda on household product
Hood Group has been appointed by Asda to launch its home insurance product through Asda Money.