News
Insurers and lawyers lock horns over plans to cut recoverable claims costs
The Association of British Insurers has accused claimant lawyers of attempting to derail “crucial” reforms to the electronic personal injury claims portal by launching a judicial review.
UK regulator committed to risk-based regulation regardless of EU status
Plans to implement Solvency II will not be derailed by the Prime Minister’s pledge to hold a referendum on European Union membership if he is re-elected at the next general election.
View from the Top: The whiplash gold rush
Insurers must ‘respond vigorously’ to glut of spurious last-ditch claims ahead of Laspo implementation.
Market Moves: Reshuffles at Ace Group and Axa represent week's main moves
Ace Group, Axa and Legal & General were the most active firms in the recruitment space this week, with the trio making major reshuffles. Ace rejigged its Europe, Middle East and Africa claims team, Axa added new executives to it direct and partnerships…
Transactor to recruit first COO
Insurance software house Transactor is hoping to appoint its first chief operating officer in the first half of 2013.
AJ Gallagher reports 15% rise in revenue
Arthur J Gallagher has reported brokerage for the full year in 2012 increased to $1.83bn (2011:$1.56bn) while Ebitdac increased to $383.3m (2011: $320.8m).
QBE introduces top-up commercial cover for European businesses
QBE has launched a top up commercial credit insurance facility developed to operate above an existing, non-QBE, primary whole-turnover policy.
DLG warns RTA Portal delay could cost industry £1m a day
The insurance industry faces extra costs of £1m for every day the implementation of an expanded electronic claims portal is delayed according to Direct Line Group.
General Legal Protection wins £600 000 breakdown contract
Go Skippy.com has awarded General Legal Protection a contract worth more than £600 000 to supply breakdown cover to the firm’s customers.
Law Society warns unrated insurers are 'unknown quantity'
Solicitors have been warned to check the financial strength of an insurer and its ability to pay claims before purchasing their next professional indemnity insurance policy.
Accidents Direct launches new negligence claims division
Accidents Direct has launched a medical negligence claims division after identifying growth in demand for the service.
Ace boss Greenberg hails "growing presence" in Asia and Europe
Ace has reported a 76% increase in net income to $2.71bn (£1.72bn) in 2012 compared to the previous year (2011: $1.54bn).
Axa Wealth to cut 30 roles in sales reshuffle
Axa's pensions and investments subsidiary is to cut 30 roles from its sales staff.
EMEA commercial market to remain stable in 2013
The insurance market across Europe, the Middle East and Africa is expected to remain broadly stable in 2013, according to Marsh's Insurance Market Report 2013.
Marsh forecasts 10% rate increases across Europe
European financial institutions can expect challenging conditions in 2013 amid ongoing concerns about the Eurozone and increased regulatory action, according to broker Marsh.
Ace reports 76% rise in net income
Ace has reported a 76% increase in net income to $2.71bn (£1.72bn) in 2012 compared to the previous year (2011: $1.54bn).
Loss adjuster launches live video reporting for surveyors
Northampton based loss adjuster SSL Claims has unveiled a new video capability for surveyors to stream claims visits online.
QBE Credit & Surety offers top-up cover for European firms
QBE has launched a top-up commercial credit insurance facility that operates above an existing, non-QBE, primary whole-turnover policy.
IFB hands head of operations Fletcher director role
The Insurance Fraud Bureau has appointed head of operations Ben Fletcher as director, with a remit to expand the bureau’s counter-fraud services.
AA predicts 2013 rise in home cover pricing
The AA has said that there has been little movement in home insurance pricing, but added that flooding and further extreme weather will likely see prices rise.
Half of insurers doubt effectiveness of social media marketing
Marketers in the insurance sector could inadvertently turn customers off by irritating them with their online behavior, according to a new study.
Delta Lloyd sounds warning note on regulation
Regulatory changes could threaten the economic recovery in the Netherlands, the chairman of Dutch insurer Delta Lloyd said yesterday.
2000 Queensland homes flooded
Flooding in eastern Australia has forced thousands of residents to evacuate their homes after ex-tropical cyclone Oswald coincided with a monsoon trough, an elongated area of low pressure that moved south along the Queensland coast into New South Wales.
Singapore consults industry on risk management guidelines
The Monetary Authority of Singapore has outlined enterprise risk management guidelines for the insurance industry as it works towards an end of year deadline.