News
Tim Holliday appointed Zurich UK personal lines boss
Zurich has appointed its UK general insurance chief underwriting officer Tim Holliday to take over as managing director of its UK personal lines business.
Kennedys and Simpson & Marwick axe merger plans
Law firms Kennedys and Simpson & Marwick have cancelled plans to merge citing “complex reasons”.
Helphire raises £60m to fund growth
Accident management services group Helphire has announced it has raised £60m before expenses by issuing more than one billion ordinary shares at 5.2p each.
SRA mulls enforcement action for firms in PI breach
The Solicitors Regulation Authority has warned it is considering enforcement action after “a substantial number of solicitors” failed to declare their insurance position regarding professional indemnity cover.
Cunningham Lindsey boosts claims productivity 20% with iPad tools
Adjusting giant Cunningham Lindsey expects claims handling productivity to soar after introducing new tablet software in January next year.
Claims company Triton Global announces management changes
Claims organisation Triton Global has made multiple management changes in its claims administration outsourcing company DCS Global.
Kiln hires new stable mate for equine team
Kiln has appointed Bill Bevan as equine underwriter within the accident & health division to focus on bloodstock and livestock risks.
David Radford appointed Allianz brand boss
Allianz has appointed David Radford to the newly created role of UK brand director.
Plum extends home product to cover landlords
Plum Underwriting has extended its home works product to cover landlords undertaking extensive building extension projects and renovations.
Millburn unable to pay claims after entering administration
Millburn Insurance Company has become the first UK regulated insurance firm to enter administration since 2009, three months after it stopped writing new business following a review by the Prudential Regulation Authority.
Lloyds Banking Group firms hit with £28m FCA fine
The Financial Conduct Authority has fined Lloyds TSB Bank and Bank of Scotland, both part of Lloyds Banking Group more than £28m for serious sales incentive failings including protection products.
Independent Inspections hopes to cut claims cycle with prepaid card scheme
Claims management company Independent Inspections has signed up to Tuxedo Money Solutions’ prepaid card scheme in a bid to reduce the lifecycle of a home insurance claim and enhance policyholder experience.
Bid to cut red tape set to enhance UK insurance market’s competitive position
Insurance Growth Action Plan aims to remove barriers for UK insurers overseas.
Adjusters sceptical over ‘organic growth’ plans after Davies seals Garwyn deal
Sources say Davies CEO Saulter’s background points to further M&A activity.
Credit hire portal set for 2014 launch as backers put faith in motor inquiry
Committee confident Competition Commission will draw ‘right conclusions’.
Industry plays down impact of St Jude and Xaver storms on full-year results
Losses expected to be ‘in tens of millions, not high hundreds of millions’.
Howden expands Nordic footprint with deal for Finnish broker
Howden Broking Group has acquired of a majority share in Finnish broker Colemont Finland Oy from AmWins subsidiary Colemont Global Group.
Chilton tipped to help Gallagher overcome previous reinsurance failings
‘Challenger brand’ expected to benefit from former Benfield CEO’s expertise.
Insurance Technology Conference: Insurers must wake up to the risks of misusing data
Data presents huge opportunities for insurers but the potential for misusing it is a serious risk for the industry, according to speakers at Post's Insurance Technology conference.
Insurance Technology Conference: SSP director Waring criticises ‘naive’ insurers for lacking digital strategies
Insurers vastly overestimate their digital capabilities and risk losing customers to better-equipped competitors, according to SSP director David Waring.
European PI market to be worth £6.27bn by 2017
The professional indemnity insurance market across 10 European countries - Austria, Belgium, France, Germany, Italy, Netherlands, Poland, Spain, Switzerland and the UK- will be worth around €7.5bn (£6.27bn)by 2017.
Dutch non-life market “stable” says Fitch
Non-life insurers in the Netherlands face a stable environment in 2014, in spite of continued pressure on the health market.
Fitch Ratings expects further Malaysia market consolidation
In an outlook report, Fitch Ratings believes the requirement for composite insurers to segregate operations into life and general insurance units could mean further consolidation in the market.
Geneva Association head to step down
The Geneva Association’s Secretary General, John Fitzpatrick, has informed the board that he will not stand for reelection at its general assembly in May 2014.