News
UK ranks 20th in global survey on supply chain resilience
The UK has been ranked 20th in FM Global's 2014 survey grading countries on their resilience to supply chain disruption.
Henderson sets up marine division
Henderson Insurance Brokers has established a marine division to take advantage of growing opportunities in the UK maritime and ports sector.
IFB targets brokers as it plans to extend into tackling property and liability fraud
The CILA quick to register interest in joining expanded fraud bureau
RMS opens Singapore office
Risk modeling firm RMS has opened their fourth office in Asia with a Singapore branch.
AIG appoints Hancock as CEO
AIG has announced its head of property and casualty Peter Hancock will replace outgoing CEO Robert Benmosche.
UK businesses missing growth opportunities through data breach fears
Organisations are more concerned with defending their information against data breaches or legal action than they are with using it to drive competitive advantage and growth, according to a new report by information management company Iron Mountain and…
Riot Act compensation cap threatens ‘ghettoisation’ of UK towns and cities
£2m turnover limit ‘not reflective’ of small businesses in 2014
‘User pays’ fees mooted for Claims Portal must be treated with caution
System is expected to be introduced in the fourth quarter of 2015
Call for fraud reform clarity over ‘fundamental dishonesty’ definition
MoJ plans include a ban on incentives to claimants and pre-medical offers
Disaster Risk and Response Forum News - 12 June 2014
All the news from Post’s 2014 Disaster Risk and Response Forum
Lloyd’s upgraded to ‘AA-‘ by Fitch
Lloyd’s has been handed an improved insurer financial strength rating by Fitch, moving from “A+” to “AA-“.
ERS recruit from Rural for business development pair
ERS has picked up a pair of business development executives from Rural Insurance, with responsibility for Scotland and the North East.
Marsh boss Weil calls for U-turn on 'perverse' risk pooling for schools
Global broker Marsh is urging the government to rethink the introduction of a risk pooling arrangement for academies and free schools amid claims the scheme will result in a substantial loss for the taxpayer.
CHO urges CMA to adopt existing framework for credit hire claims
The Credit Hire Organisation is urging the Competition and Markets Authority to use the existing credit hire claims settlement framework when it issues its final report on competition in the private motor insurance market.
Willis launches Shariah compliant real estate product
Willis has launched the UK's first Shariah compliant commercial real estate insurance solution.
David Holman memorial service open to market colleagues
Market colleagues have been invited to attend a memorial service in honour of the former boss of Lloyd’s broker John Holman & Sons, David McArthur Holman, who has passed away at the age of 85.
Ex-RSA and Axa claims boss Thomson joins SSP
SSP has appointed RSA’s former head of claims strategy and implementation Neil Thomson as its global head of insurer propositions.
Language barrier problematic for insurers in claims process
The London riots of 2011 have been highlighted as an example of how a potential breakdown in communication can hinder the claims process following a catastrophic incident.
Easter New Zealand storms cost insurers $39m
According to the Insurance Council of New Zealand April's Easter storm caused insured losses of nearly NZ$46m ($39m).
HKFI concerned over IIA's tribunal appeals' costs
The Hong Kong Federation of Insurers is concerned over the attribution of costs concerning appeals from the Independent Insurance Authority.
Cyber crime 'costs the global economy $445bn a year'
Cyber crime is estimated to cost the global economy around $445bn a year according a report from the Center for Strategic and International Studies.
Beazley looks to Amlin for double hire
Beazley has expanded its UK homeowners insurance team with the appointment of two underwriters.
World Cup cancellation insured to the tune of £744m
The sum insured for cancelling the 2014 FIFA World Cup in Brazil has been estimated at $1.25bn (£744m) by specialist insurer Beazley.
Insurers recognise need for efficiency
Insurance executives have identified back office functions and claims as the top areas of their business where efficiency could improve, according to research from the EDM Group.