News
Ink gains renewal rights for Adding 1 lines
Ink Insurance has signed an agreement with Adding 1 for the rights to renew their property, liability and motor fleet based business.
45% of all FOS cases brought by CMCs
Claims management companies accounted for 45% of cases taken to the Financial Ombudsman Service last year, according to a report by the government’s financial watchdog the National Audit Office.
Liberty Syndicates to sponsor World Cup
Liberty Syndicates Brazil has signed up as an official national supporter of the 2014 Fifa World Cup.
Australian disaster claims total A$5bn
Australia’s eight natural disasters in 2011 cost general insurers approximately A$5bn (£3.4bn) – more than double the 2010 figure, the Insurance Council of Australia reports.
Solvency II vote pushed back to spring
The European Parliamentary vote on Omnibus II has been delayed until the spring, Post understands.
Home & Legacy teams up with Aviva on ‘Premier Motor’ launch
Home & Legacy has teamed up with Aviva to launch ‘Premier Motor’ product a high net worth motor offering for its UK broker base.
Reinsurance trade groups warn against protectionist regulation
A coalition of reinsurance trade groups has pointed to the record 2011 global insured natural catastrophe losses as a warning sign as to why protectionist reinsurance regulation will backfire in jurisdictions that try to impose limits on global risk…
Jubilee launches download cover
Specialist Lloyd’s insurer Jubilee and underwriting agency iDigital have joined forces to develop and distribute the cover for downloaded content held on all forms of electronic equipment.
Biba welcomes Treasury report calling for fresh regulation outlook
The British Insurance Brokers’ Association has been among the first trade bodies to welcome today’s publication of a Treasury Committee report into the Financial Conduct Authority.
Aon shifts corporate HQ to London
Global broker Aon is to move its corporate HQ to London with the aim of gaining greater access to emerging markets and taking advantage of the strategic proximity to Lloyd's and the London market.
Solvency II compliance challenges remain
European insurers have identified reliance on third parties for data, sophisticated risk modelling requirements and obtaining sufficiently detailed fund data among the challenges to be overcome in order for them to achieve Solvency II compliance.
Russian liability law pushes up insurance costs
Stringent new legislation on the management and insurance of plants dealing in hazardous materials in Russia could have far-reaching consequences for companies operating in the region, according to Marsh.
Chinese aggregator poll
Will aggregators take off in China?
Russian Insurance Centre's 'B' IFS rating affirmed
Fitch has affirmed Russian Insurance Centre's insurer financial strength rating at 'B' and national IFS rating at 'BBB-', reflecting the "relatively strong" operational profile of the commercial property and casualty specialist.
Aon Benfield appoints new CEO for Greater China
Global reinsurance intermediary Aon Benfield has made two senior additions to its Asia Pacific team.
Ace Russia achieves 'BBB+' IFS rating
The Russian subsidiary of Ace Insurance Company has had its Insurer Financial Strength and national IFS ratings upgraded by Fitch.
Skuld enters into Transmarine partnership
Norwegian marine insurer Skuld has formed a partnership with Transmarine, part of the Michael and Else and Company MGA operation specialising in marine trade disruption and consequential loss insurance.
LV recruits for Bristol office
LV is recruiting 50 new staff for its Bristol office this quarter in a bid to expand its customer services division.
Fitch Ratings gives referral fee ban its seal of approval
Fitch Ratings has approved measures to ban UK motor insurers from receiving any type of referral fees, saying represents a more meaningful step towards combating the rise in fraudulent claims.
Medical and legal professions bite back at report response
Medical and legal experts have hit back at industry criticism following the Transport Select Committee’s cost of motor insurance report, claiming that comments made in the aftermath of the report question the “integrity” of doctors.
Reliance on third parties for data Solvency II challenge
Reliance on third parties for data, sophisticated risk modelling requirements and obtaining sufficiently detailed fund data were top of a list of challenges identified by European insurers in order for them to meet Solvency II requirements.
Willis teams up to boost 'renewable energy revolution'
Willis Group Holdings has confirmed a new strategic alliance with clean energy financier Narec Capital to unlock opportunities for firms in the renewable energy market.
WHO expert calls for cashless insurance system for Indian healthcare
Indian health insurance should cover more than it currently does according to experts at a recent one-day national consultation on the state of the market.
Groupama for sale after ‘grand cru’ year
Groupama’s UK chief executive officer François-Xavier Boisseau, pictured, has told staff in the insurer and its broker subsidiaries that the company is for sale after “unsolicited approaches”.