News
PRA approves 19 SII internal models
The Prudential Regulation Authority has approved the use of a full or partial internal model under the Solvency II Directive for 19 insurers for use from 1 January 2016.
ABI criticises FCA's late decision on complaints rules timeframes
The Association of British Insurers is disappointed the Financial Conduct Authority's amendment to the implementation date for changes to complaints handling and reporting processes, announced today (4 December), has come too late to avoid insurers…
Catlin and former Home Secretary back 'Cyber Re' idea
Insurer boss Stephen Catlin and former Home Secretary Lord David Blunkett have both expressed support for the idea of a government-backed reinsurance scheme for cyber crime.
Brokerbility acquires London-based broker CIC
Brokerbility Holdings Insurance Brokers has acquired London-based Churchill Insurance Consultants, taking its controlled gross written premiums to more than £50m.
Impact Forum: Apple to launch electric car in 2019 predicts government adviser
Technology giant Apple has been tipped by a government adviser to launch into the motor market by 2019.
Impact Forum: Renewable energy equal with cyber in terms of Lloyd's growth potential
Reneweable energy is among the burgeoning new classes of business in the Lloyd’s and London markets, alongside cyber, it was claimed yesterday at the Post Impact Forum.
BGL to dispose of Dutch aggregator Hoyhoy
BGL group has announced plans to dispose of its Dutch comparison site Hoyhoy, Post can reveal.
Quiz of the week - 4 December
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
No vote urged for Towers Watson shareholders
Towers Watson shareholders are again being urged to vote against the proposed merger with Willis Group by proxy adviser company Glass Lewis and Co.
Insured costs rise to A$120m for South Australia bushfires
The bushfires in South Australia have so far seen almost A$119.7m (£58m) of claims.
Chennai floods will cost insurers at least $300m
The devastating floods in Chennai, the capital of India's province Tamil Nadu, will cost insurers at least $300m (£198m) in claims as the rains continue.
Chaucer appoints XL Catlin's Callan as CFO
Lloyd's insurer Chaucer has appointed Robert Callan as chief financial officer of Chaucer Syndicates.
Cobra completes second acquisiton of quarter
Cobra Holdings has completed its acquisition of independent commercial insurance broker Philip Paul and Associates.
More data needed to assess impact of telematics on young driver collisions, DfT finds
A Department for Transport report has concluded insurance data alone is not sufficient to assess the impact of telematics-based insurance on young driver accident rates.
Hiscox raids Catlin for product recall team hires
Hiscox has established a product recall team within its London market business with four new hires.
Bogus claimant found guilty in canteen slip and trip
A college chef who claimed for slipping in her work canteen has been found guilty of fraud by false representation, with CCTV evidence vital to the case.
FCA transparency proposal deemed a 'partial solution'
Industry commentators have challenged the Financial Conduct Authority for putting forward a "partial solution" in its proposal that would require general insurers to publish the prior year's premium on renewal notices, announced today (3 December).
Regulator proposes premium reminders for customers
General insurance providers will have to publish the previous year’s premiums on renewal notices if a proposal by the Financial Conduct Authority goes ahead.
Cybercrime threat overlooked by majority of SMEs
Concern over cybercrime exposure is rising among SMEs but the rate is still low, with just 8% of firms worried about such attacks and 17% thinking they're too insignificant to be targeted.
Career File: Tom Bolt to leave Lloyd's in 2016
Lloyd's performance management director Tom Bolt is to leave the corporation in mid-2016 after almost seven years of service.
O'Connor next to leave Brightside
Brightside confirms Des O'Connor will step down as commercial director.
Qatar Re to trade from Bermuda
Qatar Re will re-domicile in Bermuda after receiving approvals from the regulatory body.
Ironshore opens New Zealand office
Ironshore International has opened a New Zealand office in Auckland today.
Guernsey Finance to open Hong Kong office in 2016
Guernsey Finance will open a Hong Kong office in the first quarter of 2016 to focus on South-East Asia.