News
BGL linked with Minster Law swoop as insurer/broker ABS uptake tipped to rise
The on-going backlash over referral fees has been credited as both a hindrance and catalyst for insurers and brokers seeking alternative business structures.
Andy Webb quits L&G
Legal & General has confirmed that its operations director of the general insurance business has left the company for “personal reasons.”
Claims double following storms
GAB Robins said that heavy rain forecast for today in the west of Scotland could lead to flooding.
AA and Co-op report storm claims spike
AA Insurance has reported 200% more calls than would normally be expected at this time of year and the Co-operative Insurance received more claims yesterday than it would usually get in the whole of January.
Lloyd's Council holds fresh election after Millwater departure
The Council of Lloyd’s will hold another election in the working member constituency following the departure of former Willis president Grahame Millwater.
Buckley Scott teams up with Middle East loss adjuster
Loss adjuster Buckley Scott has agreed a joint venture with Bahrain-based business Alan Henry.
Fraud unit makes first arrest
The insurer-funded police fraud unit made its first arrest yesterday hours after launching.
IAG secures multi-year reinsurance protection
Insurance Australia Group has finalised its catastrophe reinsurance programme for the period commencing 1 January 2012, encompassing protection of up to $4.7bn ($3.63bn), compared to $4.1bn in 2011.
Biba members to benefit from crime requirements checking facility
Members of the British Insurance Brokers’ Association will be kept up to speed with their obligations under the Terrorism Act and the Financial Services Authority’s financial crime requirements following the association’s launch of a checking facility.
Allianz contract with breast implant maker invalid
Financial Times Deutschland has reported that Allianz claims its insurance contract with the French breast implant maker, Poly Implant Prosthesis, is invalid.
Allianz Legal Protection boosts finance team
Allianz Legal Protection has strengthened its finance department to provide additional commercial and financial support to its senior management team.
MENA Insurance think tank welcomes three CEOs
MENA Insurance CEO Club has welcomed three industry veterans to its exclusive club, taking the total to 17.
Axa warns 2012 could be 'worst on record' for household claims
Claims forecasters at Axa believe that a combination of factors such as a high proportion of public events and unusual weather conditions could make 2012 one of the worst years on record for home insurance claims.
Marsh completes acquisition of Alexander Forbes' brokerage business
Broker Marsh has completed its acquisition of the brokerage business of Alexander Forbes.
Nat-cats make 2011 the costliest year ever
A sequence of devastating earthquakes and a large number of weather-related catastrophes made 2011 the costliest year ever in terms of natural catastrophe losses, Munich Re’s annual natural catastrophe review has found.
Ascot forms underwriting consortium for power generation
Ascot Underwriting has formed the Strategic Power Consortium, a dedicated technical underwriting vehicle for the power and utilities industry.
Marsh eyes further African expansion
Marsh has completed its acquisition of the South African brokerage business of Alexander Forbes and plans to buy other Alexander Forbes operations in Malawi, Mozambique, Nigeria, Uganda and Zambia.
Lorica boosts 'ambitious plans' with hires
Lorica Insurance Brokers has made a host of UK appointments.
Munich Re: 2011 was worst year ever
Munich Re has said the sequence of earthquakes and large number of weather-related catastrophes made 2011 the costliest year ever in terms of natural catastrophe losses racking up $380bn of global economic losses.
ASA bans 'misleading' Direct Line ad
The Advertising Standards Authority has castigated Direct Line over a landlords’ insurance ad, featuring TV presenter Sarah Beeny, that claimed the insurer would beat any quote when it actually had a minimum price.
Catlin works on maritime risk reduction
Insurer Catlin has linked up with risk management firms Drum Cussac and Compass Risk Management to boost the services it offers to shipping clients with hijack, kidnap, extortion and wrongful detention exposures.
Axa and Japan Post ranked world's largest insurers
French insurer Axa once again came top of AM Best’s ranking of the world’s 25 largest insurance companies as measured by net premiums written, while Japan Post Insurance Company led the ranking measured by nonbanking assets.
RIMS names 2012 president
The Risk and Insurance Management Society has appointed Deborah Luthi to lead the society as president for the 2012 term.
Poole broker aims to meet demand with recruitment drive
A Poole-based broker is targeting future growth following the appointment of four new team members with more than 40 years combined experience.