News
Lloyd's employees given business hours alcohol ban
Around 1000 employees worldwide at Lloyd's of London will no longer be able to consume alcohol during business hours from Monday to Friday.
AIG suffers $3bn Q4 loss and 241.6% commercial COR
Global insurance giant AIG saw losses widen in Q4 2016 following a $5.6bn (£4.5bn) pre-tax charge to boost its reserves for prior year commercial claims.
MS Amlin joins Flood Re scheme
Global speciality insurer MS Amlin has joined Flood Re with accessibility for the renewal of new business beginning 1 March 2017.
Risk managers and business leaders must be 'cyber savvy'
The UK’s business leaders and risk managers need to be ahead of the curve when it comes to cyber risk, said Julia Graham, technical director at the Association of Insurance and Risk Managers.
FCA issues warning over unauthorised insurance firm
Consumers have been warned to be “especially wary” over an insurance company which may have been selling services without authorisation.
Willis Towers Watson reveals 50% profit drop
Global insurance broker and advisory firm Willis Towers Watson has published a 50% decline in net income for the financial year ending 31st December 2016.
Just Miles plans to help low mileage drivers get fairer polices
Just Miles is planning to launch an on-demand insurance service for low mileage drivers in a bid to make insurance fairer.
Ed appoints Gulsun as P&C head
Willis Towers Watson's former direct and facultative head Namik Gulsun has joined Ed as head of international property and casualty.
Markerstudy appoints Barrington as retail head
Ross Barrington has been appointed as managing director of the Markerstudy retail group.
Axis Insurance and RCG sign deal over renewables
Renewables Consulting Group has signed a consulting deal over renewable assets with Axis Insurance.
New South Wales bushfires to cost insurers at least A$20m
Over 100 bushfires across rural areas of New South Wales in the last few days will cost insurers at least A$20m (£12m) according to the Insurance Council of Australia.
Japan's AIU and Fuji Fire announce merger date and name
Two large AIG wholly owned general insurers in Japan will complete their proposed merger, first announced in 2013, by the end of the year.
Tam joins Hong Kong's Nova from Marsh
Heathcliff Tam, Marsh's former infrastructure leader in Hong Kong, has joined smaller rival broker Nova Insurance in the Special Administrative Region.
Law firm to pay Axa £70,000 after systematically inflating legal costs
Claimant law firm Asons has agreed to repay almost £70,000 to Axa after admitting to falsely and systematically inflating its legal costs.
IFB collaborates with police to convict fraud gang
A crash for crash gang has been exposed and five people have been found guilty after a £500,000 fraud was uncovered by the Insurance Fraud Bureau and Derbyshire Police.
Sun Life ventures into general insurance with Junction partnership
Junction, part of BGL Group, has signed a five-year contract to provide home and motor insurance products to life insurer Sun Life.
Brokers hit by third SSP outage in five weeks
Brokers using SSP's Pure platform have experienced a third interruption of service in the space of five weeks.
AIG ex-CEO Greenberg settles long-running fraud case for $9m
Former AIG CEO Maurice “Hank” Greenberg, along with former chief financial officer Howard Smith, have agreed to pay $9.9m (£7.9m) to settle a 12-year old securities fraud case.
Reinsurers increasing insurtech investment to counter growing competition
Reinsurers are increasingly investing in insurtech to mitigate external threats from venture capital investment, experts told Post.
McCafferty joins Axa as CEO
Brendan McCafferty has joined Axa as CEO for intermediated and direct insurance after holding the position of Flood Re CEO.
Neon appoints Pritchard as property head
Neon has appointed of Nick Pritchard as head of property reinsurance.
Insurance business is safe amid Co-op Bank's decision to put itself up for sale
Co-operative insurance will not be impacted amid the Co-operative Bank’s decision to put itself up for sale and invite offers on its shares.
Accelerate enters partnership with WK Insurance
Accelerate Underwriting has entered into a three-year deal with insurance brokers WK Insurance, part of the Willis Network.
Questgates makes string of appointments and acquires premises in Ireland
Questgates has expanded its team in Ireland to drive the development of business in the region through a series of appointments.