News
Motor reform threatens Chinese non-life market
Commercial motor pricing reform and a worsening underwriting deficit of compulsory third liability are threats to the stable outlook of the Chinese non-life market, according to a recent report.
Talanx licenses Towers Watson software for global risk management
Talanx has purchased Towers Watson's financial modelling and reserving software to harmonise its regulatory capital reporting.
Optimas sells Premium Choice
Mark Woods and Richard Dornan, pictured, co-founders of Birmingham niche broker Premium Choice, have bought back the company they sold four years ago to venture capitalist Optimas.
Car thieves target defrosting vehicles, ABI warns
Motorists leaving their cars to defrost and warm up this winter risk being left out in the cold as thieves target vehicles left unattended, the Association of British Insurers has warned.
Loss adjusters ready for Scotland storms
Loss adjuster Cunningham Lindsey is on standby to deal with the storms forecast to hit Northern England this afternoon.
Regulation still thwarts China expansion
Property and casualty insurers still consider China’s tight regulatory environment as the top concern, a report from PWC has found.
Calls for stricter ID checks to clamp down on plant theft
The Metropolitan Police has issued a plea to the insurance industry to introduce harsher ID checks before issuing policy cover in a bid to prevent finance and hire vehicle fraud.
Lloyd’s underwriters “looking at Conrad Murray conviction"
Lloyd’s underwriters are examining the impact Dr Conrad Murray’s manslaughter conviction for Michael Jackson’s death will have on their legal battle with AEG Live.
QBE appoints property underwriter for Dubai
QBE has appointed Vladan Radakovic as a property underwriter in QBE’s Dubai office.
QBE appoints Radakovic to Dubai office
Business insurer QBE has recruited Vladan Radakovic from Chartis to be property underwriter in QBE’s Dubai office.
Regulation still thwarts China expansion
Property and casualty insurers still consider China’s tight regulatory environment as the top concern, a report from PWC has found.
Zurich promotes new Farmers CEO
Zurich Financial Services Group has promoted Jeff Dailey from president and chief operating officer of Farmers Group to CEO. He will also join the Zurich group executive committee from 1 January 2012.
Munich Re puts €500m on Thai floods
Munich Re has estimated that the Thai floods will cost it €500m net before tax, but warned the figure could be higher.
Zurich calls on government for clearer winter advice
It is not just the responsibility of businesses to prepare ahead of extreme weather, but a “necessity” of government to support businesses, communicate clearly and provide advice, according to Zurich.
Broker claims unearned work transfer payments are endemic in commercial
Brokers are continuing to take secret payments from insurers and not declaring them to clients, according to a specialist commercial intermediary.
Editor's comment: Impacting the market
Market-turning they may not be but market-impacting they evidently are. Revised loss estimates for the 1500 industrial units hit by the Thai floods have reached $20bn.
Equalisation reserve changes to impact insurers
Legislative changes to claims equalisation reserves will disadvantage insurers, a PwC analyst has warned.
Motor insurers set to share application data in suspected frauds
Motor insurers want to share data from suspected application fraud, as criminals try multiple submissions to get cars on the Motor Insurance Database as cheaply as possible.
Hastings targets young drivers with telematics policy
Hastings Direct is set to launch a telematics-based motor policy for young drivers.
Jelf kicks off London recruitment drive as leisure unit eyes £1m turnover
Jelf Insurance Brokers’ newly appointed business development director has been charged with building up the company’s London presence after it opened its first ever office in the capital last month.
News analysis: Escalating loss estimates in Thailand begin to trigger market fallout
It was the worst flooding Thailand had seen for 50 years and, during its four-month spell, more than 600 people died and 77 provinces were submerged in water.
Review of the year - Lloyd's & London Market: The costliest year ever?
The first half of 2011 saw an unprecedented number of catastrophic events, so how has Lloyd’s and the London market coped?
Market moves: ‘Tis the season for recruiting
As Christmas draws closer, the insurance industry has prepared for the New Year with a raft of appointments. In the broking market, there were moves for Aon and Willis, while Howden added three new faces to its team.
Claims club: Claims teams must gear up to provide Solvency II documentation and evidence
Claims handlers are not exempt from the Solvency II requirements, according to Lloyd’s boss Luke Savage. The finance, risk management and operations director warned attendees that claims teams would have to ensure their documentation, technical provision…