News
The Claimant's View: Health & safety gone mad
Health & safety has gone mad. I never thought I would say those words, associated as they are with sections of the media that love to blame health & safety regulations for everything that is wrong with society today.
Tawa prioritises run-off after diversification
Tawa will continue to invest the majority of its funds in run-off portfolios, despite its recent decision to diversify.
Industry applauds government green light on legal cost reform
The insurance industry has overwhelmingly backed the government's decision to end the recoverability of success fees in no win, no fee cases.
Stackhouse Poland buy pushes GWP to £50m
Independent broker Stackhouse Poland has pushed its gross written premium to more than £50m with the acquisition of Essex-based Allison & Partners.
Edwards joins Broadspire as it targets rehab market
Broadspire has unveiled its ambition to become a major force in the UK rehabilitation market, after recruiting industry stalwart Deborah Edwards to head up its new fully integrated rehabilitation services offering.
Stewart exits CII in favour of Blanc team
Axa commercial chief executive Amanda Blanc has appointed the Chartered Insurance Institute's corporate development leader Alasdair Stewart to the position of commercial director.
False invoice leads to 'moral hazard' accusation by insurers
This law report has been contributed by national law firm Berrymans Lace Mawer.
Law Commission rejects fraud law appeal
The Law Commission has rejected insurance industry proposals to review the law so people who commit third-party insurance fraud lose the right to recover genuine claims, after it was not deemed to have "sufficient support" by the Ministry of Justice.
Hiscox sets sights on £100m untapped emerging PI premium
Hiscox is on the lookout for opportunities to build its book by targeting untapped emerging professional indemnity risks in the SME space that it believes could be worth up to £100m.
Lloyd’s set to continue fight for CER relief post-Solvency II
Lloyd's has vowed to fight for tax relief on claims equalisation reserves to be retained beyond the implementation of Solvency II, after its premise was challenged in the Budget.
Co-op and Axa enter RSA repair cost fray
Co-operative Insurance and Axa have followed Provident Insurance in disputing subrogated motor repair costs with RSA, Post has learnt.
PwC: Bribery Act latest “good news”
PwC has stressed the final guidance on the Bribery Act, released today, and acceptance of the need for a “proportionate and risk-based approach” to the issue, is good news for financial services companies.
ABI disappointed with FOS decision
The Association of British Insurers has said it is “disappointed” at the Financial Ombudsman Service’s decision to increase its levy on firms.
Arista turns profit following 2009 loss
Underwriting specialist Arista has turned a profit of £683 000 for 2010 after recovering from a 2009 loss of £942 000.
Insurers urged to “take stock” of Supreme Court immunity ruling
Law firm Beachcroft has warned the insurance industry review its policy cover for expert witnesses following a Supreme Court ruling abolishing their general immunity.
Vienna Insurance Group sells Russian interests
Vienna Insurance Group has sold its minority interests in Russian insurers MSK Life, SG MSK and So Vita.
Beazley revises MENA outlook to negative
Insurer Beazley has revised its outlook on the Middle East and North Africa to negative following the civil unrest in the region.
Swiss Re agrees alliance with Pro
Reinsurer Swiss Re has agreed a strategic alliance with Tawa-owned insurance business Pro.
Vienna Insurance Group sells Russian interests
Vienna Insurance Group has sold its minority interests in Russian insurers MSK Life, SG MSK and So Vita.
Beazley revises MENA outlook to negative
Insurer Beazley has revised its outlook on the Middle East and North Africa to negative following the civil unrest in the region.
Industry applauds government green light on legal cost reform - Insurance News Now - 31 March 2011
Post news editor Mairi MacDonald outlines this week's major general insurance stories including the industry's response to Ken Clarke's announcement that success fee recoverability in no win, no fee cases is to end.
Thatcham agrees risk rating deal with Thailand GIA
Motor insurance research centre Thatcham has signed a two year contract with the Thailand General Insurance Association to provide vehicle premium risk rating and alternative parts accreditation to the Thai market.
Co-op posts 48% profit boost
Co-operative Insurance has announced profits of £31.1m for 2010, up 48% on 2009.
Hiscox Japan losses could reach $150m
Hiscox has estimated exposure of up to $150m (£93.4m) for the earthquake and tsunami which struck Japan last month.