News
ERC carries out Marsh-related review
Employers Reinsurance Corporation (ERC) has announced the interim results of an internal investigation into bidding practices in the insurance industry held following the news that New York Attorney General Eliot Spitzer is investigating brokers Marsh.
Moody’s still looking at MMC ratings
Moody's Investors Service announced today that it is continuing its review for possible downgrade of the long-term (senior unsecured at Baa2) and short-term (commercial paper at Prime-2) credit ratings of Marsh & McLennan (MMC).
Combined Insurance hires market research exec
Aon's accident and health insurance subsidiary Combined Insurance, has recruited Tim Thirlway into the role of senior market research executive.
Commons backs ABI uninsured driving campaign
Parliament has welcomed the Association of British Insurers’ initiative to highlight the problem of uninsured drivers.
Amlin debt issue rated stable
Moody's Investors Service has assigned a Baa3, stable outlook, subordinated debt rating to Amlin's $50m (£27m) subordinated bonds due 2019. The net proceeds of the issue of the bonds will be used by Amlin to partially refinance existing letters of credit…
Uninsured scourge of society says BIBA
The British Insurance Brokers' Association said it is delighted that the Road Safety Bill intends to allow the police to more effectively use motor insurance data and number plate recognition to identify uninsured drivers.
ABI back tough government action against dangerous drivers
The Association of British Insurers has backed the government over its proposals against dangerous drivers.
New Aon report looks at P&I renewal
The 2005 Protection and Indemnity (P&I) renewal for ship owners is likely to see general rate rises of up to 12.5% in insurance premiums, according to Aon’s new 2004/2005 P&I handbook.
Swiss Re publishes 2004 hurricane report
With an unusually high number of hurricanes and typhoon events occurring in 2004, Swiss Re has published a report on how it used event-based risk analysis to successfully withstand the challenge.
Moody’s reviews UnumProvident ratings
Moody's Investors Service has placed the credit ratings of UnumProvident Corporation (senior debt at Ba1) and the insurance financial strength ratings (Baa1) of UNUM Life Insurance Company of America and the company's other operating life insurance…
AIG aims for settlement with SEC
AIG has announced it has submitted an offer of settlement to the SEC and reached agreement in principle with the U.S. Department of Justice, with respect to “issues arising from certain structured transactions with The PNC Financial Services Group,…
Northern office opening for rehab provider
Rehab provider Kynixa, opened a centre in Leeds this month. The office will provide coverage in the North of England and enable support for its customers in the region.
Aegis energy hires three from Ace
Aegis Energy Syndicate 1225 has added a specialist team of three underwriters from Ace Global Markets.
Breuer succeeds Royer on CEA accident committee
Uwe Breuer, director of R+V Allgemeine Versicherung (Germany), has been appointed as the new chairman of the Comité Européen des Assurances Accident Insurance Committee.
CDL eats into Misys market share says report
Software supplier CDL claims it is handling as many EDI transactions as rival Misys, after a survey revealed a 48% increase in volume by CDL brokers.
Zurich claims head joins Medical Protection Society
The Medical Protection Society has appointed Sarah Venus as director of claims and legal services.
SEC quizzes Swiss Re on non-traditional insurance
Swiss Re has said that it has received requests from the United States Securities and Exchange Commission (SEC) and the New York State Attorney General to provide documentation relating to non-traditional insurance products.
Mitsui Sumitomo strengthens subsidiaries
Mitsui Sumitomo Insurance Company has announced plans to strengthen its global reinsurance operations through its two subsidiaries, MS Frontier Reinsurance and Mitsui Sumitomo Reinsurance.
Goshawk takeover plan shelved
Nikko Principal Investments today annouced that it has called of takeover talks with Goshawk.
KPMG report highlights risk
European insurance companies that manage risk effectively stand to gain greater access to world capital markets and competitive advantage. This is the conclusion of a research project Risk and Capital Management for Insurers conducted by KPMG…
Massive winter ski claims expected, says Asda
Up to 60,000 people could claim for ski or snowboard-related injuries this winter, according to Asda travel insruance.
CIGNA to save expatriate employers 1% of salary bills
Global health insurer, CIGNA International Expatriate Benefits, has teamed with approved Australian health fund, Grand Union Corporate Health Fund, to launch a benefits programme designed to meet the needs of expatriates and Australian citizens returning…
Watch PM's Insurance Question Time - now
Tuesday night's inaugural Post Magazine Insurance Question Time at London’s Globe theatre, saw a distinguished panel wrestle with issues as varied as the impact of Spitzer, Offshoring, Compensaion Culture and Reputation in front of a packed audience. To…
DAS goes commercial with Swinton
Swinton has selected DAS to provide a legal expenses policy to compliment its range of policies for the small and medium sized enterprise market.