News
MIB: uninsured young drivers down 50%
The Motor Insurers' Bureau has claimed that the number of 17–20 year-olds estimated to be driving without insurance has decreased by half over the past three years.
Industrial assets underinsured by up to 60% in Asia
Telecommunications, energy and petrochemical companies are underinsuring their industrial assets by 30% to 60% in Asia, according to a new report by Marsh, and John Foord, an industrial asset valuation firm in Asia.
AIG and Allianz to target Chinese motor market
American International Group and Allianz SE have confirmed their interest in the Chinese motor market, which will soon be open to foreign insurers.
Quindell buys in Enzyme with Thomson to become group chief revenue officer
Rapidly expanding insurance technology and claims outsourcing firm Quindell Portfolio has named Robert Thomson as group chief revenue officer and announced the acquisition of personal injury claims firm Enzyme International.
Liberty Mutual enters Russian P&C market with KIT acquisition
Liberty Mutual Insurance Group has acquired Russian insurance company KIT Finance Insurance allowing it to enter Russian's $21bn property and casualty market.
Aon says low airline claims won't cut rates
Aon Risk Solutions has said airline claims were historically low last year but warned that the risk that the aviation industry represents remains high and insurance prices are likely to remain stable.
XL Bermuda boosts D&O risks covered
XL Insurance (Bermuda) has boosted it D&O cover to pay for independent directors’ defence costs in the US under Sarbanes-Oxley and Dodd-Frank and the UK Bribery Act.
Police reject insurers' £80m riot claim
The Metropolitan Police Authority has turned down insurers' £80m claim for the Sony Warehouse building burnt down during last summer's riots, Post has learnt.
Finance Bill causes 'no major headaches' for insurers
Insurers are breathing a collective sigh of relief following the publication of today's Finance Bill, with firms expected to benefit from controlled foreign companies exemptions and unforeseen benefits for those looking to establish UK headquarters.
RSA appoints new France country manager
Global insurer RSA has appointed Didier Arminjon as country manager for France.
MAS enhances Singapore's capital framework
The Monetary Authority of Singapore is to consult on enhancing the country's risk capital framework.
Post webinar: Data protection
The first of this year's Insurance Technology webinars provides industry-leading insight into a recent European Commission data protection directive.
MMA's Fearn becomes executive deputy chairman of Covéa
Garry Fearn, currently chief executive of MMA Insurance, is to take on a new role as executive deputy chairman of Covéa Insurance.
MMA merger leads to new role for chief exec Fearn
Current MMA chief executive Garry Fearn will take on the role of executive deputy chairman of Covea Insurance from September this year.
Argo appoints Gooderson as cargo underwriter from Brit
Lloyd's insurer Argo International has appointed Paul Gooderson as cargo underwriter in its marine and speciality division.
Senior returns to Towergate after six year absence
Towergate has today announced the re-appointment of Richard Senior, pictured, to the role of broking managing director in Hull - six years after he left the firm to join Gallagher Heath.
CII urges insurers to sign internship pledge
The Chartered Insurance Institute has launched its first good practice guide for internships in the general insurance and financial services professions.
Co-op Insurance delivers £45m operating profit
Speaking to Post after the release of its results for the year end 2011, and following the announcement that Co-operative Legal Services has been granted Alternative Business Structure status, director of general insurance at Co-operative, David Neave,…
Lloyd's says Solvency II delay will avoid applications gaps
Lloyd's has rejected claims it is struggling to prepare its Solvency II internal model submission for the Financial Services Authority, claiming there will be "no gaps in the applications" by the July submission deadline.
UK Supreme Court rules on asbestos trigger
The UK Supreme Court has put an end to years of uncertainty regarding asbestos payouts, ruling that the trigger date for mesothelioma claims is the date of exposure.
Allianz mans Sport Relief phone lines
Allianz opened its Bristol contact centre in Aztec West last Friday to run donation telephone lines for Sport Relief 2012.
Plexus Law team appointed to Met panel along with five other firms
Plexus Law's national police team has been appointed to the Metropolitan Police's external legal panel to specialise on civil litigation advice alongside Weightmans and Clyde & Co.
Buyer found for insolvent loss adjusters' contractor
A building contracting firm that worked on Crawford & Company, Merlin and LAS claims went into administration on Friday but was snapped up by another contractor six days later.
Vienna Insurance increases dividend after €559m record profit
Vienna Insurance Group's increased its profit by 10.1% to €559m, making 2011 the most profitable year in the group's history.