News
Customers hit by flooding get policy extension from Euler Hermes
Trade credit insurer Euler Hermes is offering a 30 day policy extension for clients hit by Storm Desmond or subsequent flooding.
Storm Eva to bring more rain to northern England
More bad weather and possible flooding is on its way to northern England ahead of Christmas, with Storm Eva set to bring heavy rains and up to 70mph winds in coming days.
Trak Global hires CIS engineering boss Street
Telematics specialist Trak Global has hired The Cooperative Insurance Service’s former national engineering and technical manager Nick Street to the new position of insurer solutions and claims manager.
Xchanging and CSC deal moves closer
A deal between technology provider Xchanging and US-based Computer Sciences Corporation (CSC) is closer today with CSC purchasing another 10% of Xchanging shares.
Unrecovered stolen vehicles cost insurers £450m last year
Stolen vehicles not recovered by police represent an estimated £450m cost to insurers in 2014, based on figures from a Freedom of Information request by anti-fraud company Asset Protection Unit (APU).
Watchstone shares skyrocket as ex-Quindell investors receive pay-out
Shares in the business formerly known as Quindell have skyrocketed following the re-named Watchstone Group’s re-entry onto the junior AIM stock exchange.
P&I clubs to face premium pressure in 2016
Protection and indemnity insurance will face premium pressure at 1 January 2016 renewals, according to analysis from Willis Group.
Broker banned by FCA for failure on client money
Insurance broker Vroni O’Brien has been banned by the Financial Conduct Authority from undertaking any functions of “significant influence” after it was found she transferred money incorrectly between business and client accounts.
Renewal of DLG contract with RBS questioned by research firm
The future of Direct Line Group’s home insurance contract with RBS has been questioned in the aftermath of Nationwide’s decision to switch underwriting responsibilities to RSA.
Covéa reports 180% increase in claims volumes after floods
Covéa Insurance has experienced a 180% increase in claims volumes to date as a result of Storm Desmond which hit North West England on 5 and 6 December.
L&G to underwrite pet insurance from 2016
Legal & General is to start underwriting all new business for its pet insurance product from 1 January 2016.
Ex-RSA UK CEO McIntyre takes on NED role at Saga
Saga has appointed former RSA UK CEO Bridget McIntyre as an independent non-executive director with effect from 1 January 2016.
Aviva picks Rix as personal lines MD
Aviva has appointed Lindsey Rix as managing director of its UK general insurance personal lines business, replacing Steve Treloar.
King back in the hot-seat at Ingenie as CEO McKee steps down
Ingenie co-founder Richard King has returned to lead the telematics business just six months after stepping down from the position of CEO.
Post and CII launch 'Raising Standards' series in Hong Kong
Post and the Chartered Insurance Institute will launch a 'Raising Standards' webinar series in Hong Kong next year.
Insurers urged to keep abreast of construction sector developments
Allianz and Euler Hermes are urging insurers and brokers to keep up-to-date with changes in the construction industry following the publication of a joint report.
Liberty poaches TMK property team for Madrid office
Liberty Specialty Markets is writing property insurance business from its Madrid office for the first time with the appointment of a new team from Tokio Marine Kiln.
Government mobile phone penalties welcomed by AA
AA Insurance has welcomed a government move to increase the penalty for using a hand-held mobile phone or other device while driving as a "victory for common sense".
Proposal for compulsory pet insurance backed by software firm
Aquarium Software has backed calls for pet insurance to be made compulsory by law in Scotland as a step in the right direction for owners, animals, vets and insurers.
Aviva notes 19% rise in cash for crash as 4000 suspect claims are studied
Aviva has revealed it is looking into more than 4000 suspect whiplash claims after confirming it received five of the 28 fraudulent claims involved in a major cash for crash ring in Wales that cost insurers more than £763,000.
Motor rates accelerate as government's IPT hike is rolled out
The government’s introduction of higher insurance premium tax last month has served to accelerate average annual best buy motor policy deals by 10.9% to £696, according to market research conducted by Consumer Intelligence.
Gallagher makes Australian acquisition
Broker Arthur J Gallagher has acquired Australian-based Strathearn Insurance Group.
New chair for Oric announced
Oric International has appointed Dee Lehane to chair the operational risk group’s board.
Insurers pay millions to those hit by Storm Desmond
Insurers have paid out £2.6m in emergency funding and housed 1500 families in alternative accommodation following Storm Desmond, according to analysis by the Association of British Insurers.