News
Government to extend regulatory powers over insurers and seek EC approval for Flood Re
The government is seeking new legal powers enabling it to force insurers to cover "their share" of policyholders living in high flood risk areas.
Ferma relaxes bylaws to accept international individual and corporate members
The Federation of European Risk Management Associations will accept individual and corporate members who have an interest in European risk management, following a change to its bylaws.
Mobile insurers tarnished by the few bad operators
Mobile insurers not acting in customers' best interests risk tarnishing the good name of the industry as a whole, according to Supercover Insurance.
Flood Re wins out as government and insurers reach long-term agreement
The government and insurance industry have reached a long-awaited agreement over the future of insurance for properties at risk of flooding when the Statement of Principles expires at the end of July.
UK General launches non-standard motor scheme
UK General has launched a non-standard motor scheme through Policy Shop, its first since announcing its partnership with Gibraltar-based Enterprise Insurance in May.
Some mobile phone insurance policies are poor and unclear says FCA
The Financial Conduct Authority has published a review into mobile insurance which found evidence or poor product design, unclear terms and inadequate claims and complaints handling.
Octo Telematics moves frontline operation from Rome to London
Italy-based telematics systems provider Octo Telematics has relocated its frontline operation from Rome to London in a bid to take advantage of opportunities in the burgeoning UK telematics market and to build stronger ties with both the insurance and…
Lonmar targeting new clients after doubling pre-tax profit
Lloyd’s broker Lonmar Global Risks boosted its pre-tax profit last year up to £3.62m from £1.68m in 2011.
Octo eyes up UK telematics opportunities
Telematics systems provider Octo Telematics has relocated its frontline operation from Italy to London in a bid to take advantage of opportunities in the burgeoning UK telematics market and to build stronger ties with both the insurance and manufacturing…
AIG appoints major account manager in Asia Pacific
Rudi Spaan has been appointed head of brokerage distribution and client management, Asia Pacific at AIG.
Giles creates 117 jobs in Llantrisant
Giles Insurance Brokers is set to create 117 jobs in Wales, over the next three years in a major expansion project at its Llatrisant base.
Mitsui Sumitomo sees Lloyd’s syndicate profits climb 50%
Pre-tax profits at Mitsui Sumitomo’s Lloyd’s syndicate climbed from £11.99m to £18.05m in 2012, up 50%.
Questgates strengthens liability claims handling team
Questgates has made several new appointments to its Birmingham based liability claims handling services after securing business with several insurers’ liability claims departments.
Insurers need more social media and big data preparation, says Towers Watson
According to a global industry survey, Insurers feel less prepared to deal with threats arising from social media and big data than they do about more familiar ones.
Zurich and Carrot launch smart car Initiative
Zurich and Carrot Insurance are targeting learner drivers with a pilot scheme where participants get a smart car.
IUA elects Malcolm Newman as chair
The International Underwriting Association has today elected Malcolm Newman as its chair.
Post Audio Supplement - 27 June
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Malcolm Newman elected IUA chair
Malcolm Newman has today been elected chairman of the International Underwriting Association.
McLarens targets Asia Pacific expansion with Chinese adjusting hire
Loss aduster McLarens has recruited a permanent China resident FCILA-qualified adjuster to lead business in the country.
McLarens swoops for China resident FCILA adjuster
Loss aduster McLarens has added to its Chinese presence with the recruitment of a China resident FCILA-qualified adjuster.
Chancellor commits to new flood defence investment
The Chancellor of the Exchequer has vowed to invest in new flood defences, despite announcing that the Department for Environment, Food and Rural Affairs will see its budget cut by 10%.
Towers Watson reveals insurers unprepared for emerging tech trends
Insurers feel less prepared to deal with threats arising from social media and big data than they do about more familiar ones.
Direct Line confirms office closures in Croydon, Liverpool and London
Direct Line Group has confirmed that almost 500 jobs are to go in Liverpool where the firm is closing its office as part of a wider redundancy programme announced today
Emerging markets key to sustaining global non-life growth: Swiss Re
Non-life Insurance premiums increased globally by 2.6% to $2bn in 2012 according to a study from Swiss Re, but emerging markets will be key to maintaining that growth, the reinsurer said.