News
Property claims: Long-term fix for UK flood may be a compromise
The expiration of the Statement of Principles has been described as the "end of the temporary sticking plaster" by Zurich property claims director Jon Cawley, who has argued that the solution to flood risk cover is a combination of current industry and…
Property claims: Customers must be educated about escape of water
Insurers should make consumers aware that they have a responsibility to prevent escape of water, rather than assuming that all leakage issues should be handled by their provider.
Property claims: Detailed data sharing a must if 'them and us' attitude to be overcome
Insurers and supply chain managers have been urged to combat the 'them and us' divide by sharing more detailed data and making use of technology.
Equity renews motor insurance deal with HSBC's First Direct
Equity Insurance Partnerships has extended its affinity insurance partnership with First Direct, the banking brand which is a member of HSBC Group.
Prior investment leads to Q1 gains at BMS
BMS chief executive Carl Beardmore has attributed "successful investment" over the past two years to recent growth at the firm, underlined by a 28% rise in Q1 revenue on 2011.
Commission demands blamed for end of Aviva and Broker Network relationship
Rival networks have accused Broker Network of demanding excessive commissions and over-riders from insurers after its relationship with Aviva, as one of its preferred providers, came to an abrupt end.
Ace swoops for top 10 Indonesian insurer to diversify reach into PL
Ace has announced today that the company and its local partner have reached a definitive agreement to acquire PT Asuransi Jaya Proteksi in Indonesia for approximately $130m in cash.
ABI hits back following industry grilling over riot response
The ABI has moved to defend its members in the face of stinging criticism that the industry has taken too long to pay out on claims originating from riots last August.
Insurance boss receives major honour for services to local insurance industry
Günter Geyer, chairman of the managing board of Wiener Städtische Versicherungsverein, has received the Officer's Cross of the Order of Merit of the Republic of Hungary.
Aetna launches new benefits product in Singapore after gaining licence
Aetna has received a licence to begin selling health insurance in Singapore for groups and individuals.
Tokio Marine expands Scottish team
Tokio Marine Europe Insurance has appointed Trevor McAuley to its marine cargo underwriting team, based in Glasgow.
CII centenary report points to insurance role in eco-issues
Insurance is likely to play a “key role” in the global environmental future according to the Chartered Insurance Institute, which has published the third in a series of new reports marking its centenary year.
Marsh issues warning over future D&O conditions
Buyers of directors and officers insurance have today been warned by Marsh to be on the lookout for a deterioration of favourable market conditions in the second half of the year.
Chinese regulator gearing up to relax insurance investment restrictions
China's insurance regulator is close to outlining a policy which will expand and diversify insurers' investment scope, according to a report.
Farr launches environmental impairment liability cover
Social housing market specialist Farr has unveiled an environmental impairment cover designed to protect against legal liability arising from contamination in or under land owned by clients.
Indian regulator IRDA soft on rule defaulters, claims report
Insurance companies are flouting their "social and rural responsibilities" and the regulator, IRDA, lacks the will to punish them, according to a new report.
Travelers considers stake in Esure
Travelers is reported to be in preliminary talks with Esure about buying a stake in the UK home and motor insurer.
MENA insurers show resilience
Insurers and reinsurers in the Middle East and North Africa region have shown resilience in the past year and continue to maintain secure ratings.
Airmic 2012: Risk management crucial to M&A activity
Acquisition hungry firms can gain an edge if they effectively manage the inherent risks associated with the process, a joint Marsh and Airmic report has revealed.
Airmic 2012: Buyers unaware of cyber cover market growth
Insurance buyers are in the dark over the growing market for cyber risk cover, research by Airmic has revealed.
Airmic 2012: Reservation of rights model clause to be published
Airmic is to publish a model insurance contract clause to prevent insurers reserving rights on claims without due cause.
Airmic 2012: Cover trumps price for global programme buyers
Some 97% of insurance buyers purchase a global programme based on certainty of cover and not price, XL research has revealed.
MYI's Gillan appointed Insurance Institute of Manchester president
McLarens Young International executive director David Gillan has been named as president of the Insurance Institute of Manchester.
Tysers boosts terrorism team with Morley appointment
Lloyd's of London broker Tyser & Co has appointed Simon Morley as a member of its specialist terrorism team, which forms part of Tysers' marine division.