News
Lloyd's sets Xchanging summer 2005 target
Lloyd's expects Xchanging to have completed key upgrades to its accounting and settlement systems by August 2005, making them XML message enabled, according to Mike Smith, head of business process reform.
Select & Protect announces software integration
Select & Protect, provider of household and mortgage payment protection insurance cover, has announced its integration with software provider Trigold.
Fortis declares bouyant UK motor business
Banking and insurance group Fortis has reported 16% year on year gross written premium growth in the UK and said it is established as one of the largest private car insurers in the country.
Alea Group encouraged by ratings
A.M. Best and Standard & Poor’s have given global reinsurance and insurance company, Alea Group, a positive set of ratings.
Liability opportunities to develop from EU environmental directive
The European Union’s new environmental liability directive represents an enormous opportunity for environmental insurers, members of the International Underwriting Association have been told.
Bell given top job at CEA liability committee
Royal & SunAlliance technical insurances manager Phil Bell has been appointed as the new chairman of the Comité Européen des Assurances general liability committee.
R&SA weighs in with freight proposition
Royal & SunAlliance (R&SA) has launched Logistics Solutions, a new cargo liability policy for its large freight and logistics clients.
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.