News
Trade credit claims rocket by 51%
The Association of British Insurers today said that the number of trade credit insurance claims rose to 8 366 in Q4 2008, up from 5 540 in Q4 2007 – an increase of 51%.
Synergy joins forces with EMR
Synergy Accident Repair Group has announced a new strategic business relationship with EMR Insurance Services.
AMRO calls for MRO Agreement to be considered in personal injury reforms
The Association of Medical Reporting Organisations is calling for MRO Agreement processes to be incorporated into pending Ministry of Justice reforms.
Lloyds TSB Insurance appoints legal partner
Lloyds TSB Insurance has appointed Bevan Brittan to handle its liability claims work, the national law firm has claimed.
Compare the Market launches bike insurance comparison service
Insurance aggregator Compare the Market has launched a new bike insurance comparison service.
Capita disposes of insurance subsidiary
Bristol-based legal services provider Arag has purchased the family and commercial legal expenses business portfolio of before-the-event legal expenses insurance specialist Capita Assistance.
Allianz in $180m Cat bond issue
(BESTWIRE) German insurer Allianz is the latest company to revisit the catastrophe bond market, issuing a $180m Cat bond which was larger than the $150m bond it expected to launch.
Senior Lexington exec moves to Ironshore
Tony Mammolite has been appointed head of Bermudian insurer Ironshore's US Property unit.
Davies appoints new fraud chief
Davies Group has appointed former Cunningham Lindsey employee Peter Taylor as its new head of investigations.
Ascot expands in US
Ascot Underwriting is to grow its US operation with the opening of underwriting offices in Chicago, Illinois and Hartford, Connecticut, subject to regulatory approval.
Hiscox repositions Lloyd's business as part of shake up
Hiscox has reorganised its group structure along geographic lines and strengthened its US management team.
Friends Provident launches protection Selling Techniques Toolkit
Friends Provident has launched a new Selling Techniques Toolkit to provide advisers with online learning that can help them sell protection effectively.
Allianz signs three-year SME deal with broker
Allianz Commercial has secured a three-year deal with insurance broker, RA Cowen & Partners as the principal provider for their SME book of business.
Towergate predicts further growth for 2009 after renegotiating banking facilities
Towergate Partnership has predicted a 13% rise in 2008 income to £315m after renegotiating the terms of its long-term banking facilities.
RBS sells Spanish Direct Line
Spanish bank Bankinter will pay Royal Bank of Scotland €426m (£375m) in cash for the half of the Spanish unit of Direct Line Insurance it does not already own.
Admiral selects software provider
Software provider Sword Ciboodle has secured a deal with Admiral Group to provide its customer relationship management platform.
Swinton to create 250 new roles by end of 2009
Insurance giant Swinton is set to create more than 250 new jobs in its Norwich-based call centre by the end of 2009.
IFAA begins consultation process for insurance claims adjustment
The International Federation of Adjusting Associations (IFAA) begins a consultation process next month with the ambition of creating a universally recognised best practice protocol for the adjustment of insurance claims and will be inviting…
Lloyd's Brazil office given stamp of approval
Lloyd's has opened an office in Brazil after receiving approval from the Superintendence of Private Insurance to become the first admitted reinsurer in the country.
KPMG welcomes ‘clarity of approach’ to Solvency II
Professional services firm KPMG has welcomed the revised Solvency II agreement and has urged the insurance industry to make it a top priority.
Zurich subsidiary acquires AIG auto unit
AIG has sold its US Personal Auto Group to a subsidiary of Zurich, Farmers Group.
threesixty take stake in IFA consolidator Bright
threesixty, a fee-based IFA support services provider has confirmed that it has taken a minority stake for an undisclosed sum in IFA consolidator, Bright Financial Services, which specialises in the acquisition of small to medium sized IFAs.
AIG confirms sale of 21st Century to Zurich
AIG has confirmed the sale of 21st Century, its US auto insurance unit, to Zurich for $1.9bn.
Fraud rises 30%, according to ABI
Insurers are detecting record levels of fraudulent insurance claims – 2000 every week, worth £14m – according to figures released today by the Association of British Insurers.