News
FCA mulls ban on opt-out selling of add-ons
The Financial Conduct Authority has sounded the death knell for the opt-out method of selling of add-ons, following its market study last year.
Flood Re appoints former Canopius head of capital
Gary McInally has been appointed as chief actuary for government-backed flood scheme Flood Re.
Hood Group picks Cega to support travel insurance programme
Affinity insurance provider Hood Group has appointed global assistance partners Cega to deliver emergency assistance and claims services.
Ecclesiastical celebrates best underwriting figure for five years
Ecclesiastical has posted a pre-tax profit of £48.2m for 2014 and an improved combined operating ratio for the year.
XL Group announces pricing of subordinated notes
XL Group has priced a public offering of $500,000,000m (£336,134,684) for its subsidiary Xlit.
Nationale Suisse shares delisted
The Cantonal Court of Appeal in Basel-Stadt has declared the shares in Nationale Suisse that are not held by Helvetia to be invalid.
Industry should prepare for $1bn container ship loss, says AGCS
After a 80% plus increase in container ship capacity in a decade, Allianz Global Corporate & Specialty is warning of some significant loss events to come.
Closing Gibraltarian underwriter warns of SII pressures
The chairman of Gibraltarian underwriter Service Insurance Company said UK motor market pressures and the looming Solvency II deadline in 2016 led to the firm deciding it was not "economically sensible" to continue operating.
Fraudster jailed for a year after RSA investigation
A fraudulent claimant has been jailed for 12 months after being found guilty of contempt of court.
In-house investigators dodge PI regulation amid deadline delay
In-house claims investigators will not be subject to statutory licensing for private eyes, according to the Association of British Insurers, which has expressed concerns that uncertainty around the introduction of PI regulation is “hindering” insurers.
Allianz confirmed as lead insurer for Germanwings plane crash
Allianz is the lead insurance underwriter for the Germanwings Airbus A320 plane which crashed in France on Tuesday.
Climate change effects will be ‘alarming', insurers told
The insurance industry has been warned about the "alarming" effects of global climate change will have on their business.
Diverse recruitment required if London is to secure global cyber dominance
Greater cross-industry collaboration and a significant recruitment drive are needed if London is to fulfil its ambition to become a global cyber insurance hub, according to London market firms.
Insurers lead calls for limit to harmful emissions
A group of insurers, environmental specialists and academics have called on world leaders to agree a plan to limit global average temperature increases.
DfT and industry players discuss scope of Vnuk legislation
Industry leaders are working with the Department for Transport to determine if certain vehicle classes should be taken out of European Union legislation that expands the requirement for motor insurance, amid fears of a future claims influx.
AA calls for government to back Ifed expansion amid increased CMC activity
Nearly two thirds of UK motorists have been cold-called by claims management companies in the past year, with 36% contacted more than 10 times, according to research conducted by AA Insurance.
Hester receives £939,000 bonus despite 2014 target miss
RSA CEO Stephen Hester was paid £2.1m in 2014, according to the firm’s annual report.
Catlin to underwrite product for flood insurance excesses up to £50k
Third party administrator Advent Solutions Management and Policy Excess have teamed up to provide homeowners with properties in high flood risk areas with a product that insures against hefty flood excesses.
Biba and Integritas launch broker funding facility
British Insurance Brokers’ Association members can receive advice, and access to funding through a new funding facility launched in conjunction with Integritas.
FCA turns attention to big data and role of appointed representatives
The Financial Conduct Authority will turn its attention to the role of appointed representatives and the use of big data in the year ahead.
Service Insurance Company stops writing new business
Service Insurance Company is to cease writing new business as part of a planned reorganisation of the company involving a number of linked businesses.
Queensland Reconstruction Authority to become permanent
The Queensland state government is seeking to make the Queensland Reconstruction Authority a permanent agency at a cost of A$30m (£15.8m) a year.
Thailand's TQM expects to grow 11% in 2015
Thai motor broker TQM is confident of sustained growth this year despite economic difficulties in the country.
Axa and RSA confident unsigned contracts for driverless cars will not hold up trials
Insurers involved in the upcoming driverless cars road trials have dismissed the significance of delays in the signing of contracts, after the government “unexpectedly” pledged to invest £100m in the technology.