News
Tougher jail sentences needed to protect heritage, says Ecclesiastical
The innate vulnerability of many of the Britain’s heritage buildings makes the threat of tough prison sentences vital to combat heritage crime, heritage specialist Ecclesiastical has told the government.
Costa Concordia may re-float this week
Wrecked cruise liner the Costa Concordia may be re-floated as soon as the end of this week as work continues to salvage the vessel.
Supervision, contract law reform and sanctions are top IUA concerns
Supervision by the Financial Conduct Authority and Prudential Regulation Authority, reform of UK insurance contract law and international trade sanctions are the top regulatory concerns for members of the London companies market.
AGCS appoints sernior CMT and cyber underwriter
Allianz Global Corporate & Specialty has appointed Graeme King as the senior underwriter responsible for communications media and technology and cyber.
Traditional insurers risk losing customers in digital age
Traditional insurers face losing out to new entrants as people increasingly use the internet to hunt out cheaper policies and more tailored services, a new PwC report found.
Alps launches sole trader legal expenses cover
Auto Legal Protection Services has launched a wholesale sole trader legal expenses cover.
Switzerland's Helvetia and Nationale Suisse to merge
Helvetia and Nationale Suisse have agreed the terms of a merger, which will see them create a new Swiss insurance group.
Former Fusion regional development manager joins Essex-based MGA
Essex-based MGA Incorporated Insurance Group has hired Ian Chapman as its regional development manager based in Leeds.
Ace acquires Brazilian P&C insurer
Global insurer Ace has agreed to acquire the large corporate property and casualty business of Brazil-based Itaú Seguros from Itaú Unibanco for approximately $685m. Upon completion of the transaction, Ace will be the largest commercial P&C insurer in…
Amlin increases stake in Leadenhall Capital Partners
Amlin has reached a non-binding agreement to increase its stake in investment manager Leadenhall Capital Partners.
Biba welcomes TSC's 'positive' whiplash proposals
The British Insurance Brokers’ Association has welcomed the Transport Select Committee’s latest whiplash report saying it supports “changes to protect innocent customers from the added cost of fraudulent insurance claims”.
ABI slams 'misguided' SRA decision on mandatory PI limit
The ABI has criticised the Solicitors Regulation Authority’s decision to reduce the level of mandatory professional indemnity cover for solicitors to £500 000, calling it “misguided”.
Fundamental dishonesty change will have 'unintended consequences' warns MASS
Lawyers from the claimant fraternity have raised concerns over the Transport Select Committee’s latest motor report, with the proposal to strike out claims for fundamental dishonesty and changes in the small claims track singled out for criticism.
Reich teams with former Bridge brokers for Vista venture
The leadership of Manchester-based broker Reich have teamed up with three former Bridge brokers to unveil a new venture in the form of specialist corporate broker Vista Insurance.
RFIB appoints MacFarlane as MD for international non-marine
RFIB Group has appointed Richard Macfarlane as managing director of its international non-marine business.
Dual tasks Hellman with setting up marine practice
Dual Group has appointed Bernt Hellman to form its new marine and energy practice.
Ten moves to employee ownership model
Ten Insurance has converted to employee ownership safeguarding it against a buy-out from another network.
CII promotes 'speaking up' with new whisteblowing guide
The Chartered Insurance Institute has launched a 'Speaking Up' guide on whistleblowing as part of its ongoing ethical guidance series.
UK broker market sees rapid consolidation after AJG buying spree
The UK commercial non-life broker market is consolidating faster than its main European counterparts due to the recent acquisitions made by Arthur J. Gallagher, new research from Finaccord has shown.
Compass recruits from Cobra for London broking director
Gallagher-owned network Compass Broker Services swooped for a new broking director, recruiting from Cobra London Markets.
Xchanging hires Oracle's Baker as MD for Xuber
Xuber, Xchanging’s insurance software business, has appointed Chris Baker, formerly a senior vice president of Oracle, as managing director of Xuber within Xchanging Technology Services.
Xchanging acquires Agencyport's European arm
Business outsourcing provider Xchanging has acquired the European operations of US-based Agencyport Software, for a cash consideration of £64.1m.
Europe faces more than €2bn losses from June thunderstorms
An outbreak of severe thunderstorms in June caused over €2bn economic losses across Europe, according to Impact Forecasting, the catastrophe model development centre at Aon Benfield.
Insurers critical of TSC medical report proposal
The industry has slammed a Transport Select Committee proposal to prohibit personal injury claims being settled without a medical report with one insurer calling the suggestion “out of touch”.