News
Brogden set for Merlin departure
Merlin head of major and complex loss Mike Brogden is to leave the adjuster at the end of the month, Post can reveal.
Aviva Europe operating profits up 26%
Aviva Europe's general insurance and health operating profit increased by 26% to £137m for the full year 2011.
Scor 'resilient' in the face of nat cats
French reinsurer Scor absorbed natural catastrophe losses of €138m from the Thai floods to record net income of €330m for 2011.
'Sticking plaster' Statement of Principles distorts flood insurance market
The Statement of Principles was never designed to be anything more than a "sticking plaster", according to James Dalton, head of property insurance at the Association of British Insurers.
Government warned it cannot 'duck' issue of poor being priced out of flood insurance
People on lower incomes could be priced out of flood insurance following the end of the Statement of Principles.
Renewing Statement of Principles will not solve flood cover issue, says Defra
The issue that confronts the insurance sector and government today is not the ending of the Statement of Principles, as renewing it would not solve the problem, but that underwriters are changing their approach to pricing flood risk.
Lloyd's ECF claims pass 80% target
The percentage of insurance claims managed but Lloyd's Electronic Claims File system has reached 83%, an 8% year-on-year increase.
Aviva bemoans 'challenging' UK commercial sector as CEO Moss heralds 2011 progress
Aviva's UK general insurance continuing operations saw a decrease in operating profit and underwriting result in 2011 to £540m (2010: £567m) and £129m (2010: £184m) respectively. This was mostly as a result of the reduced contribution from Aviva Re.
LMG extends electronic approach
The London Market Group has extended its electronic endorsements initiative to all classes of business. Brokers can send all endorsements in every class electronically, and insurers will be able to respond to them.
Popularity of price comparison sites paves way for master aggregator
The long-tipped 'aggregator of aggregators' is closer to happening than ever, with the proliferation of price comparison brands and online insurance offerings that shun these sites.
Social media-based broker heralded as five years ahead of the game
While the UK insurance industry is still trying to understand the financial merits of social media, one German online-based broker has already started using Facebook to encourage its users and their friends to sign up for cover.
At-fault payout product could fill 'deliberate' hole in motor market
Concerns have been raised that a new product that "fills a genuine gap" in the motor market could be plugging a hole that has been left deliberately.
Academic paper suggests England learn from Scotland about flood risk prevention
An academic made a splash this week by publishing a paper calling for planners, developers and architects to be held "legally liable when they get it wrong and people are flooded" as a way of preventing further flood plain development.
Market Moves: Brokers back with a bang
After two slow weeks, the broking sector has seen an upswing in activity, with a number of large players making high-profile appointments.
Fraudulent claims continue to plague insurers, as index shows rise in cases
Location-specific blackspots indicate overall increase in UK insurance fraud
QBE to launch global reinsurrance team under new brand
QBE is in the process of combining its worldwide reinsurance operations under a single management team which will come together under the unified brand QBE Re.
Guardian unveils new chief financial officer
Guardian Financial Services has today announced the appointment of Andrew Birrell as chief financial officer.
Wunelli calls for standard telematics approach
Wunelli has urged insurers to agree a common data standard for the use of telematics.
Labour MP's telematics stance supported by Accenture survey
Drivers of all ages would respond favorably to calls from Labour’s shadow transport minister to force insurers to offer telematics technology as a matter of course, according to an Accenture study.
DAS deal sees Bluefin network members provided with legal expenses product
Bluefin Broker Partnership Services has appointed DAS to provide a suite of legal expenses and emergency assistance products to its network brokers.
County Insurance hires law firm to advise on broker acquisition spree
The goal set by bosses at the County Insurance Group of buying 10 new brokers over the next five years has moved a stage closer following the appointment of Harrison Drury to advise on a regional acquisition spree.
ABI warns 'clock is ticking' for flood insurance solution
The Association of British Insurers has warned that there is no time to lose in securing a long-term, sustainable flood insurance market.
Admiral overseas losses increase to £15.1m but policycount soars to 4.1m
Admiral Group has reported that its two international operations – motor and aggregator – increased their losses to £15.1m (2010: £12.8m loss) in 2010.
Quinn acquisition positions Liberty for a 'prosperous' 2012
Liberty Mutual has reported net income of $284m and $365m for the three and 12 months ended 31 December 2011, decreases of $292m and $1.313bn from the same periods in 2010.