News
Scrapping the FSA is the right decision for banks but the case is not made for insurers
This is according to Bruno Geiringer, a partner in the insurance group at law firm Pinsent Masons.
US targets two insurers, banks, shipping and energy sector in new Iran sanctions
The US Treasury on Wednesday blacklisted more companies – putting them off limits to US businesses - including two insurers.
ABI warns government against adding to burden of costs
The Association of British Insurers has said that it is "open minded" to regulatory changes to the financial services sector.
Argo International appoints class underwriter to lead accident & health team
Argo International, the specialist Lloyd’s insurer and subsidiary of Argo Group International Holdings, has announced the appointment of John Moffatt as Class Underwriter to lead its growing Accident and Health business.
SEC ends probe of AIG and executives
US regulators have closed an investigation of AIG and some of its executives over the insurer's near collapse in 2008 that led to a $182bn government bailout, according to newswire Reuters.
Six join broker network ranks
International broker network Brokers Link has added six new international specialised service providers to its membership.
Julian Millar joins QBE
QBE has confirmed the appointment of Julian Millar as head of claims in its property division.
Willis Re opens Toronto office
Reinsurance broker appoints Robert M. Wildbore as office head for the fourth Canadian office.
Sants to head transition to new financial regulatory body
Hector Sants has agreed to remain as chief executive of the Financial Services Authority and to lead the transition and the creation of a new prudential authority.
Chancellor outlines future of financial regulation
The Chancellor of the Exchequer has outlined the government’s intention to hand over regulatory control of the financial services sector to the Bank of England.
US targets two insurers, banks, shipping and energy sector in new Iran sanctions
The US Treasury on Wednesday blacklisted more companies – putting them off limits to US businesses - including two insurers.
Law firm criticises government plans
Law firm CMS Cameron McKenna has said that the government’s plan to split supervision and enforcement of the financial services industry will “dissipate responsibility”.
Government makes plaques medical evidence pledge
The coalition government has pledged to consider compensating past pleural plaque victims if new medical evidence became available
Kwik Fit Insurance turns 15
Kwik Fit Insurance marked 15 years in the business on 14 June.
Incisive Media scoops Biba awards
Post, Reinsurance, PB and Insurance Age journalists have won four awards and three “highly commended” accolades at the British Insurance Brokers’ Association’s 2010 journalist of the year awards.
Catlin's Jardine appointed deputy chairman of Lloyd's
Lloyd’s has appointed Paul Jardine from Catlin Syndicate as deputy chairman of The Council of Lloyd’s following Ewen Gilmour’s retirement from the position earlier this month.
Markel relocates to Glasgow
Markel UK, the retail division of Markel International, has relocated its office in Scotland to Glasgow.
FSA powers to be cut
Chancellor George Osborne has confirmed that he will give the Bank of England the key role in regulating the UK financial sector, the BBC reports.
Post in print – 17 June 2010
News editor Mairi MacDonald outlines the major news stories from this week’s issue of Post, including: the possibility that the government may look to buy more insurance in a strategic move to cut costs; Tesco price comparison coming under scrutiny…
Airmic chief executive reveals what’s next for non-disclosure
As the Association of Insurance and Risk Managers unveiled its plans this week to tackle the failings of UK insurance law on the key issue of non-disclosure, Lynn Rouse spoke to chief executive John Hurrell to get more detail on what will happen and when.
Talbot appoints senior hull underwriter
Talbot Underwriting Ltd has appointment Mike MacColl as senior hull underwriter.
Blackham launches Endorphin to invest in brokers and MGAs
Former broking partners Chris Blackham and Geoff Bradford have announced their return to the insurance market through the formation of the Endorphin Group.
RICS appoints Howden as its preferred PI broker
The Royal Institution of Chartered Surveyors has appointed specialist Lloyd’s broker, Howden, as its preferred UK professional indemnity broker. This is the first time that the RICS has appointed a preferred broker for this type of insurance.
Solvency II to have far-reaching impact
Fitch Ratings has said that it expects Solvency II, the European Union's new insurance regulatory regime, to have far-reaching effects on insurers, with both positive and negative credit rating implications.