News
Skillin rebuffs claims that Imperial is in financial difficulty
Imperial Consultants chief executive Kevin Skillin has dismissed claims that the company is experiencing financial difficulties as "malicious gossip".
Insurers to pay for Accident Exchange retrials
Major insurers that do not reach a settlement with Accident Exchange could end up paying millions of pounds in legal costs.
Jobs and branches at risk as Autoglass undergoes "operational changes"
Autoglass is entering into a consultation period with its staff after announcing a reduction in contact centres and the closure of a number of branches.
Only 16% of companies have reviewed BCP for Olympics
The vast majority of financial services companies have assessed the impact the London 2012 Olympic and Paralympic Games will have on their business, according to research from Deloitte.
Protection needed for consumers to embrace 'mobile wallets'
Consumer interest in mobile transactions would be "exponentially higher" if secure protection products were an option, according to a survey on mobile trends by specialty insurer Assurant Solutions.
Plum grows as personal lines market demands non-standard solutions
Non-standard specialist Plum Underwriting has seen sales grow by 121% in 2011.
Riverbourne assets snapped up by Aston Scott and The Insurance Partnership
The administrator at the heart of the sale of assets belonging to The Riverbourne Group has revealed Aston Scott and The Insurance Partnership have emerged as successful buyers ahead of "a lot of interested parties".
MoJ issues consultation for RTA portal extension
Last night the MoJ issued a consultation letter to key stakeholders on further extending the fixed costs scheme currently used for Road Traffic Accident claims to cover Employers’ and Public Liability policies.
Markerstudy to expand non-UK motor MGA offering
Markerstudy is to complete a number of deals with managing general agents in the non-UK motor market in the coming months.
Towergate makes two acquisitions
Towergate Insurance has acquired Centenary Insurance and William Rogers Insurance Brokers.
Brit 'schtum' on UK sale as profits and GWP drop in 2011
Brit Insurance has reported a profit before tax of £75.8m in 2011 (2010: £116.4m) on gross written premiums of £1.5bn (2010: £1.53bn).
Helphire extends banking agreement until 2014 as it slips into the red
Helphire has announced that it had reached an agreement with the group's bankers for the extension of the expiry date of the existing committed banking facilities from 31 December 2012 to 31 December 2014.
Moneysupermarket CEO predicts "another good year" after insurance revenue breaks £100m barrier
Moneysupermarket has reported a jump in click-based and other reveune from its insurance vertical in 2011.
La-Band vows to build London presence at Quorum following MBO agreement
Crawford & Company's departing global markets vice president Michael La-Band has outlined his intention to establish a London presence at his new employer - international loss adjusting firm Quorum - following his imminent move to Mexico.
Crawford dropped from Axa household panel
Axa has axed Crawford & Company as the main supplier of loss adjusting services for household insurance claims after four years, while GAB Robins and Cunningham Lindsey remain on its books.
India considers guarantees for Iranian oil
India's shipping secretary K Mohandas said on Tuesday that the country is considering sovereign guarantees for shipping and buying Iranian oil on a delivered basis, when EU sanctions on Iran come in to effect, according to Reuters India.
Arag relaunches online quote engine
Arag's online quotation system for commercial legal expenses insurance has received upgrades and was relaunched today as Quickquote.
Sri Lanka's GI market grew 21% in 2011
Sri Lanka's general insurance market grew by 21% in 2011, a record for the industry since its privitisation, according to Sri Lankan business paper the Daily News.
Travel insurance becomes compulsory in Malasyia
From 1 March, those travelling out of Malaysia will be required to buy travel insurance.
Munich Re transfers US hurricane and European windstorm risks to the capital markets
Munich Re has acquired coverage for US hurricane and European windstorm risks with a total volume of $75m from the special purpose insurer Queen Street V Re Limited, which in turn has placed a catastrophe bond for this amount in the capital markets.
Insurers may have to rethink Solvency II programmes
PwC has commented on the Financial Services Authority's Solvency II conference where the regulator announced new deliverables for insurers' Internal Model Application Process and commented on the ongoing impact of political uncertainties.
Financial strength rating becomes key for commercial brokers
High-grade insurance financial strength ratings have become much more essential to commercial brokers when they evaluate where to place risks, according to research from NIG.
Japan questions EU over impact of Iran sanctions
Japan's government is seeking clarification from the European Union about the implications of its sanctions against Iran for non-EU states, amid fears Japanese ship owners could see cover for voyages to Iran slashed.
RSA IFS and counterparty credit ratings upgraded to 'A+'
General insurer RSA's core operating entities have been upgraded to 'A+' in recognition of the group's strong capitalisation.