News
Market moves: Ageas and Axa name new MDs
With insurance companies gearing up for the festive holidays, it was a surprisingly busy week in recruitment.
PSTF: New generation of females in IT would benefit insurance industry
Industry leaders were told they stand to “reap the long-term benefits” of encouraging a new generation of females to take up an interest in the IT profession. Julie Feest, customer director at E-skills UK, explained to delegates from a range of major…
News analysis: Application fraud to top the agenda for motor insurers in 2012
The New Year’s resolution for many motor insurers is to tackle application fraud with the same force they have brought to bear on crash-for-cash fraudsters. “Staged motor accidents remain the top priority, but application fraud comes second,” according…
15 December: Pushing their luck
With the buoyant personal injury claims market, one insurer was not surprised when, following an accident caused by one of its policyholders, several claims registrations began to roll in from passengers on a bus at the scene of the accident.
RBS tackles huge rise in storm claims
RBS Insurance saw a 1000% rise in storm claims arising from the severe weather in Scotland last week.
Sales to boost capital at Groupama
Groupama has made an agreement with state owned French banking group, Caisse des Dépôts which it says will introduce substantial fresh capital to Groupama to reinforce the group’s solvency.
Solvency II tops list of risk managers concerns
Solvency II requirements are seen as the greatest challenge to the European insurance market by risk managers, but credit downgrades remain a significant concern, according to a survey by specialty insurer Torus.
Talanx announces acquisition plans
German insurance group Talanx is to purchase insurance companies Europa Non-Life and Europa Life from private financial group Getin Holding.
Practical guidance can reduce risk managers' attention from regulators, says Ferma
Practical guidance on implementing European company law requirements on risk management, internal control and internal audit can help reduce regulatory attention, according to the Federation of European Risk Management Associations and European…
O’Roarke and LV management team extend contract until 2016 – Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including how LV general insurance MD John O’Roarke is targeting an increase in SME and home insurance business having signed up to a new four-year deal at the firm.
Bollington launches training scheme for school leavers
Bollington Insurance Brokers is hoping to encourage talented youngsters to embark on a career in insurance by launching a graduate and school leaver training scheme.
Chaucer strengthens energy team
Chaucer has made new underwriting appointments in London, Houston and Oslo.
Credit hirers worry OFT review is unfair
The Credit Hire Organisation said it feared the OFT’s review of credit hire costs might not reach a full and fair set of valid conclusions.
Regulatory enquiries tops list of directors' concerns
Company directors are beginning to face intensified liability risks in the wake of the ongoing economic crisis, with regulatory investigations and enquiries posing the greatest perceived threat to insurers.
Ajag wanted OFT to go further
Compensation claimants’ body the Access to Justice Action Group has said the OFT review into the cost of car insurance does not go far enough.
LMA welcomes OFT claims cost review
The London Market Association has welcomed the Office of Fair Trading’s decision to examine personal motor claims costs.
Chubb makes four appointments to specialty divison
Chubb Insurance has made four senior appointments for its UK & Ireland specialty insurance division, effective immediately.
ABI says OFT could cut claims costs
The Association of British Insurers claims the Office of Fair Trading investigation into motor claims is an opportunity to improve the personal injury compensation system.
Ferma produces EU risk guidance
Practical guidance on implementing European company law requirements on risk management, internal control and internal audit will cut the risk of further regulation, the Federation of European Risk Management Associations and European Confederation of…
OFT to review car repairs and credit hire
The Office of Fair Trading has launched an investigation into the provision of third party vehicle repairs and credit hire replacement vehicles to private motor insurance claimants.
14 December: Wii wish you a merry Christmas
The launch of the Wii computer console was declared a revolution in the video gaming world. It hasn’t been received so well by the insurance industry.
Generali and Mapfre among insurers downgraded by Fitch
Several Italian and Spanish insurers have been downgraded following assessments of their pro-forma capital adequacy amid challenging investment conditions.
Fitch takes rating actions on Italian and Spanish insurers
Fitch said the rating actions follow its assessment of the insurers' pro-forma capital adequacy amid challenging investment conditions, particularly in Italy and Spain, including ongoing pressure from heightened government bond yields.
Scotland storm: Friedhelm to produce insignificant insured losses
Windstorm Friedhelm, the storm that battered Scotland and the north of England last Thursday, will not produce significant insurance losses despite reaching some of the highest wind speeds recorded in the affected regions.