News
QBE expands Dubai office capabilities
QBE's Dubai branch is now offering GAP insurance and auto extended warranty on a reinsurance basis to cedants dealing with auto dealers and banks operating in the GCC market.
QBE launches new motor products in Dubai
Business insurance specialist QBE has started offering Guaranteed Auto Protection insurance and auto extended warranty on a reinsurance basis for cedants dealing with auto dealers and banks within the GCC market.
FSA publishes guidance on PPI redress
The Financial Services Authority has published proposed guidance for firms that sold payment protection insurance and are beginning to contact customers who may have been mis-sold a policy but have yet to complain.
Watchdog set to probe KPMG over Equity Red Star audit
The Accountancy and Actuarial Discipline Board is investigating KPMG's auditing procedures of Lloyd's of London syndicate Equity Red Star.
Arch acquires Ariel Re's Zurich-based credit business
Arch Capital Group is to acquire Ariel Re's Credit & Surety reinsurance operations based in Zurich.
Management not measurement key in handling risk
Risk management has focused on the harnessing of technology for risk measurement rather than a deeper understanding of risk itself, according to recent research published by Towers Watson.
Brokers appeal to Emirates regulator over payments decision
The brokering community is believed to have approached the Emirates Insurance Authority for a reappraisal of its recent decision on how premium payments are collected.
Ferma membership up to 22 after Luxembourg association comes on board
The Federation of European Risk Management Associations has welcomed its newest member in the form of the Luxembourg risk management association, Professionals in Risk Management.
Swiss Re targets European marine with two new teams
Swiss Re Corporate Solutions has expanded its marine insurance footprint in Continental Europe through the formation of two dedicated underwriting teams in Zurich and Genoa, which will be led by Patrizia Kern-Ferretti and Andrea Cupido, respectively.
China's state-owned credit insurer warns of export risk
China's only export credit insurer has warned of increased short-term export credit risk for firms in the first quarter.
Ferma grows to 22 as Luxembourg joins
The Federation of European Risk Management Associations has grown its membership to 22 associations with the Luxembourg risk management association, Professionals in Risk Management.
Bahrain's financial sector sees 3% growth
The number of financial institutions registered in Bahrain rose again last year, reaching 415 by the end of January 2012, up from 403 a year earlier.
Government flood cuts could lead to 'thousands' of uninsurable businesses
Thousands of UK businesses are at risk of becoming uninsurable inside three months if the government fails to meet the demands of disgruntled insurers.
Insurers face up to $2bn tornado bill
Eqecat has estimated that the latest series of severe weather events in the US has produced $1bn to $2bn in insured losses.
Justice minister to act over PPI CMCs
The justice minister, Lord McNally, pictured, has agreed to meet consumer groups over on-going concerns about claims management firms ripping off customers mis-sold payment protection insurance.
Omega more than doubles losses
Struggling takeover target Omega's 2011 combined ratio hit 134%, and 2010 pre-tax losses more than doubled to $94.7m (2010: $42.9m).
Chilton steps down from Aon Benfield roles to focus on holding company
Grahame Chilton will step down from his combined roles at Aon Benfield to concentrate on his new position as non-executive chairman of Aon's recently formed UK holding company.
Insurers avoid conviction for Irish data breach
Three insurance companies have avoided criminal convictions for possessing personal information obtained by a private detective from a leak in the Department of Social Protection, according to reports in the Irish press.
Close to offer telematics premium finance
Close Premium Finance is to back AA Insurance's new telematics offering, AA Drivesafe, taking monthly direct debits for varying amounts depending on the insured's driving style.
Zurich in three-year sponsorship deal with Christie's Dubai
General insurer Zurich has entered into a partnership with auction house Christie's to sponsor its sales in Dubai.
Cuts at Ecclesiastical to focus on three sectors and boost operations performance
Ecclesiastical's UK boss Steve Wood, pictured, has implemented a three-prong reorganisation as part of a cost-cutting exercise that he claims will lead to an aggressive move on its chosen markets.
More sharing of intelligence needed in fight against insurance fraud
Greater sharing and use of intelligence could achieve significant results in tackling insurance fraud, according to law firm DAC Beachcroft.
Early start to US tornado season
More severe weather hit central and southern regions of the US over the weekend, spawning several tornadoes that killed at least 39 people and caused widespread property damage, according to reports.
Brokers 'very positive' on in-vehicle management technology rollout
Equity Red Star CEO Ian Foy has hailed the rollout of in-vehicle management technology Equitrack, claiming that brokers have responded favourably to the belief that the launch will drive down costs and claims.