News
Highway AGM dampens concerns over motor price war
Motor insurer Highway, has told shareholders its business this year is on track and performing to expectations, despite rates softening in a number of sectors.
XL promotes O'Donohoe to head up Lloyd's business
XL London Markets has appointed Dermot O'Donohoe as CEO, to replace Nicholas Metcalf, who resigned earlier this month.
UK companies fail in risk management
The majority of the UK senior executives do not have procedures in place to deal with operational and strategic risks, according to a new research report from Marsh.
Fuedi launches education directive
The European Federation of Loss Adjusting Experts has launched a new education directive.
FSA announces June compliance meeting
The Financial Services Authority is sponsoring a meeting for compliance consultancies to develop better lines of communication.
Former RSA head joins GAB
GAB Robins has appointed Vic Noble as operations director – field force for both personal and commercial lines adjusting.
Security questions remain about XML technology
Security remains a problem for those seeking to use XML solutions as a way of achieving data transfer, according to Russell Martin, manager of electronic commerce at XL Re America. Speaking at the Acord/Loma Forum in America he said that there were still…
AIG rolls out 'seamless' electronic resinsurance solution
National Union Fire insurance Company will be the first of the AIG companies to go live with a new system that will enable the underwriter to process business with the company, from the policy to the reinsurance, using an electronic system. Richard…
Lloyd's continues its commitment to electronic trading
By 2007, 70% of Lloyd’s transactions should be processed on an electronic infrastructure according to Iain Saville, head of business reform at Lloyd’s and chair of Kinnect. Speaking at the Acord/Loma Forum in America he said that this was his own…
Aon lauds success of document exchange
Broker Aon has announced that 28 insurers and reinsurers from the London, European, Bermudian and North American insurance markets are now using its document exchange to electronically access claims documentation.
ri3k wins Acord awards
ri3k, the reinsurance trading platform, has received three 2004 Acord awards: Industry Leadership for Straight Through Processing, Early SOAP Framework Adopter and Certification.
Claims Standards Federation names new chief executive
The Claims Standards Federation has announced the appointment of Dr Tony Burns-Howell as its new Chief Executive.
IIF president calls for heightened safety legislation
The new president of the Irish Insurance Federation, Paul Donaldson, has called for the allocation of greater resources to the enforcement of workplace safety legislation to reduce the cost of liability insurance.
Smart and Cook swoops for two brokers
Smart and Cook has made two new acquisitions, taking its current total this year to five.
Compliance system extended to secondary intermediaries
The Corporate Risk & Compliance team at Navigant Consulting has extended its proprietary risk-based methodology FRAMe to cater for secondary intermediaries.
80 jobs lost in Lytham as Axa adds to Indian workforce
Axa has announced 80 jobs at its Lytham St Annes office will be moved to India in the next year.
Lloyd's management receive substantial bonuses
Lloyd's of London increased chief executive officer Nick Prettejohn's pay by 33% in 2003, as profits more than doubled.
Insurance buyers tell market to cut premiums or lose business
Purchasers of commercial insurance in the telecommunications and electronics sectors have delivered an ultimatum to insurers - cut premiums and offer bespoke coverages or lose businesss to non traditional solutions as captives and protected cell…
Motor retailers unprepared for FSA regulation, according to RMI
With only eight weeks left until the registration deadline, motor retailers are still unready for new insurance rules coming into force next year, according to the Retail Motor Industry Federation (RMI).
Appointment at Canopius Managing Agents
Lloyd’s insurer Canopius Managing Agents today announced the appointment of Joyce Webb as divisional marine underwriter.
Ri3k launches electronic data hub subsidiary
Ri3k has launched LifeRIC, an electronic data hub for the North American life reinsurance industry.
Tourle joins Cooper Gay
The Cooper Gay Group has announced the appointment of Brian Tourle to its Special Risks division as broker with responsibility for credit and surety business.
Moody’s withdraws Trenwick America Re rating
Moody's Investors Service has withdrawn its rating on Trenwick America Reinsurance which has been in runoff since June 2003.
Axa in strategic alliance with NAG
Axa UK has announced a strategic alliance with National Australia Bank to offer Axa commercial insurance products and services to customers of the National’s three UK banks.