News
Amlin in ownership boost
Lloyd’s insurer Amlin says it continues to achieve strong growth in its premium income thanks to a 100% ownership of Syndicate 2001, from 86% in 2003.
Biba and CNA add terrorism cover to travel product
CNA Insurance Company (CNA) and the British Insurance Brokers’ Association (Biba) have enhanced their flagship travel product, Biba Protect - available exclusively to members of Biba - to provide protection to insureds under the medical expenses section…
New ops director at Regency Warranties
Ian Lloyd has been appointed as director of operations for Regency Warranties.
Fitch looks at Hurricane Charley damage
Fitch Ratings has said that it expects that Hurricane Charley will represent a material loss to the insurance industry.
Insurance industry contributes 37% to UK funds
The insurance industry contributed 37% to the total UK funds in 2003, according to a new IFSL report.
Plexus Law achieves management standard
Plexus Law, and its sister practice Badhams Law, have both been awarded Lexcel, the Law Society’s practice management standard.
Allianz Cornhill profits up
Allianz Cornhill has announced a 13.2% increase in pre-tax profits for the first half of 2004, compared to the same period last year.
Ascot signs up with Kinnect
Ascot has signed up with Kinnect, the Lloyd’s-sponsored initiative that captures and transfers risk data across a secure electronic platform.
Dental Defense Union supports compulsory insurance
The Dental Defence Union has welcomed a Department of Health consultation paper that calls for all dentists to have indemnity insurance as a requirement for registration.
S&P assigns new rating for HCC subsidiaries
Standard & Poor's (S&P) has assigned an 'AA' financial strength ratings to American Contractors Indemnity (ACIC) and HCC Reinsurance (HCC Re), both subsidiaries of property/casualty specialty writer HCC Insurance Holdings (HCC). The outlook is stable.
Lloyd's expands US operations with new West Coast office
Lloyd’s of London is opening a West Coast office in the US to develop its business in the region.
NU in £120m buy to boost motor offering
Norwich Union Insurance has acquired HPI - independent provider of vehicle information - from Phoenix Equity Partners for £120m.
Hiscox IFA book taken over by Link
R3 Group has announced its latest acquisition with its subsidiary Calibre HomeSolutions taking over a home insurance scheme for the National Federation of Independent Financial Advisers.
Second annual increase for Sovereign’s creditors
Sovereign Marine and General Insurance Company has announced a second successive annual percentage payment increase, from 35% to 40%, to all creditors.
RMS warns of Hurricane Charley bill
Risk Management Solutions (RMS), has warned that insured losses in the US could exceed $10bn if Hurricane Charley is as bad as is currently feared.
Travellers Protection Services renews contract with The Benefits Alliance
Norwich-based Travellers Protection Services has been reappointed for the seventh year in a row to provide travel cover for The Benefits Alliance, which has BT, Whitbread, Hewlett Packard and the BBC are among its members.
US legal spat set to cost RSA millions claims newspaper
Royal & Sun Alliance may face liabilities of as much as $512m after losing the first round of a US legal battle over protection policies on loans to trainee truck drivers, according to a report in The Times newspaper. The insurer is set to appeal.
NU lures brokers with e-commerce offers
Norwich Union has launched enhancements and exclusive offers for brokers who trade household business via the company’s e-broking website.
Barker joins Wildnet
Simon Barker is the new UK sales director at Wildnet, which provides business process solutions to the insurance and reinsurance industry.
FSA issues "hard" capital adequacy statement in wake of RSA comments
The Financial Services Authority has today published a statement following comments made by Royal & Sun Alliance in its interim results published yesterday morning, confirming it will introduce what it calls a hard capital adequacy test.
Interim management present in 80% of FTSE 250 companies
Four out of five FTSE 250 companies are employing interim managers, an increase of 15% since last ye...
Absence rethink needed
Traditional beliefs about sickness absence are totally unfounded, according to a new study from Unum...
EPL essential in face of rising tribunal cases
Businesses have been told they face "massive" financial exposures unless they put an insurance strat...
Medicash marketing boost
Health cash plan provider Medicash has launched an outdoor advertising campaign in the Northwest as part of a regionalised strategy to boost membership and encourage renewals.