News
In the doghouse
Churchill Insurance this week decided to pull its latest advert featuring the voice of Vic Reeves, p...
Penny Black's insurance week
Penny cannot help feeling that Michael Howard may regret his decision to turf Howard Flight out of t...
No pain, no gain for CIS
News Analysis: CIS Overhaul
Reform puts claims in the legal firing line
Policyholders could be allowed to sue insurers for handling claims poorly, if proposals to reform in...
Insurers warned over law firms
Insurers have been warned not to establish or buy legal entities, despite plans being announced last...
AIG chairman plans to formally retire this week
AIG chairman Maurice Greenberg plans to formally retire from AIG this week, and is expected to leave...
AIG delays 2004 10-K
American International Group’s (AIG) problems have deepened as it announced that it was formally delaying the submission of its Form 10-K for 2004.
Acquisition will reduce motor fraud, claims buyer
UK insurance software house, CDL, has acquired The Vehicle Inspection Company UK Limited, securing a licence to access DVLA data.
FSA rejects external ombudsman appeals procedure
The Financial Services Authority and the Financial Ombudsman Service have rejected the idea of an external appeals procedure. The announcement was made with the published updated procedures for handling complaints to the ombudsman service today.
Primary Broker Services boosts North-East operation
Commercial insurance provider Primary Broker Services has announced the expansion of its Harrogate operation and the appointment of two new business underwriters to support its growth in the North-East.
Support grows for fraud initiative
The CPP Group today signed up to support the Government Immobilise mobile phone initiative and predicted less mobile phone insurance fraud.
Zurich pledges reduced rates
Zurich Professional claims its revised professional indemnity insurance rates for accountants will offer premium savings of up to a third.
Buffett to meet regulators over AIG inquiry
Warren Buffett is to meet with investigators looking at a deal between a subsidiary of Mr Buffett’s Berkshire Hathaway and troubled (re)insurer American International Group (AIG).
Former Aon chair takes on new challenge
Affinity Solutions, the affinity partnership consultancy, has appointed recently retired chairman and managing director of Aon’s affinity division, Peter Friend, as its chairman.
AM Best leaves Hannover Re ratings unchanged
AM Best has commented that Hannover Re’s ratings remain unchanged following the announcement of its consolidated 2004 year-end post-tax profit of €309m ($422m).
Greenberg to retire as Zarb moves in at AIG
Non-executive chairman Maurice Greenberg will formally retire from AIG tomorrow or Thursday and leave the company on 31 March. Frank Zarb will take on the chairman's duties as lead director of AIG's board.
Earthquake: minimal insurance losses forecast
Reinsurance broker Benfield predicted minimal insurance losses from yesterday’s Asian earthquake – which is estimated to have claimed up to 2000 lives so far.
New OD at Ace
Ace European Group has appointed Isabel Gouveia-Lima as operations director.
Hannover Re profits hit by nat cat losses
An unusually high burden of major losses from natural catastrophe events in the third quarter of 2004 prevented Hannover Re from generating a new record result, according to the company.
Vehicle inspection pilot aids fraud fight
Allianz Cornhill is launching a vehicle inspection programme on its private motor book following a pilot of Toad Group’s new Vehicle Inspection Service.
Equitas settles largest remaining exposure
Equitas said it has settled its largest remaining direct asbestos exposure. The policies of McDermott International subsidiary The Babcock & Wilcox Company, which is undergoing Chapter 11 reorganization, were paid off for $415m (£221m) in trust to a…
RSA ups the ante in EL reform push
Royal and Sun Alliance has called for the pace of reform of the UK’s Employers’ Liability market to be stepped-up.
Heath Lambert appoints deputy chairman
Heath Lambert has appointed Martin Bewsey as deputy-chairman of its property portfolio division.
Reinsurance market unaffected by BP Texas loss
Oil giant BP has confirmed to Reinsurance that the explosion and subsequent fire at its Texas City refinery on 23 March will be fully retained within the oil giant’s wholly-owned captive, Jupiter Insurance.