News
Cost Advocates warns against MoJ fixed costs proposals
Costs law company Cost Advocates is advising caution on the Ministry of Justice’s proposal to set fixed costs limits on disputes in County Courts.
FSA and OFT publish draft guidance on PPI
The Financial Services Authority and the Office of Fair Trading have joined forces to help prevent the problems associated with payment protection insurance recurring in a new generation of products.
Alterra merges Irish operations
Alterra Capital Holdings has merged its Irish underwriting companies, Alterra Europe and Alterra Reinsurance Europe.
Fitch affirms ‘A’ IFSR of ACI
Fitch has affirmed the ‘A’ insurer financial strength rating of Amlin Corporate Insurance, reflecting the strategic importance of the commercial lines writer to the Amlin group.
Marsh promotes head of international from within
Marsh has recruited the new head of its international division from within its ranks.
Parametrics simplify public entities insurance in nat-cat areas
Parametric trigger insurance is making it simpler to insure public entities in natural-catastrophe prone countries, says Cooper Gay’s Steve Jackson.
Credit Hire Organisation unveils new DG
The Credit Hire Organisation has named Martin Andrews as its new director general replacing the outgoing Tony Baker.
SFO opens helpline for business fraud
The Serious Fraud Office has launched an SFO Confidential hotline to encourage whistleblowers to report suspected fraud or corruption within their companies.
Esure launches two new broking brands
Esure will launch two new broking brands this month, as company bosses prepare to use a panel of external insurers to extend the firm’s reach within the car insurance market.
Talking head: Jack Straw
Former Justice Secretary Jack Straw has certainly made a name for himself this year with his crusade to outlaw referral fees.
RK Harrison set to buy MWA
Mercury West Associates has accepted an offer to be acquired by employee-owned insurance and reinsurance broker RK Harrison Group.
Cooper Gay supports parametric cover
Cooper Gay’s Latin America CEO Steve Jackson has said catastrophe insurance could be simplified in developing countries by using parametric insurance – paying out on pre-agreed triggers rather the assessing damage. ther the assessing damage.
Biba and IIB reach merger agreement
The leaders of the British Insurance Brokers’ Association and the Institute of Insurance Brokers have announced a “momentous” merger agreement in a bid to produce a combined stance on future regulatory changes.
L&G reports 7% Q3 rise in GI GWP
Legal & General reported third quarter general insurance gross written premiums of £221m, £15m (7%) up on the same period last year.
Lancashire raises Fascione in Bermuda
Lancashire Holdings has promoted Simon Fascione to chief underwriting officer of the company's Bermuda operation, Lancashire Insurance Company.
CSC threatens judicial review over referral fee ban
Solicitors for the Claims Standards Council have written to the government warning of its intention to commence judicial review proceedings if the government goes ahead with its proposed ban on referral fees.
Mixed reaction to Webster Dixon's High Court success
Legal expenses insurer DAS has called for caution following Webster Dixon’s success in the High Court last week where the circumstances in which legal expenses insurers may not decline a policyholder’s claim were clarified.
County Insurance launches community broker survival business
Bosses at County Insurance NW have today launched a business continuity solution for brokers, after claiming that around 65% of the market will be planning the sale of their business within the next 5 years.
AAIB recruits reinsurance manager
Anglo-Arab Insurance Brokers, the specialist insurer for emerging and high risk countries across the Middle East and Africa, has appointed Mekki Mustafa as its senior consultant in Iraq.
RBSI bid rumours rubbished
Rumours of a £4bn CVC bid for RBSI are wide of the mark, market sources have told Post.
Thai floods: Central Bangkok spared
The worst of the Thailand flooding is over but insurers will have to pay “significantly large business interruption costs”, according to Fitch Ratings.
LIU Europe opens Hamburg branch
Liberty International Underwriters has opened a new branch in Hamburg, Germany as it seeks to become a competitive, niche player in the region.
Japanese, Swiss and Bermudian regimes largely equivalent to Solvency II, says Eiopa
The supervisory systems operating in Switzerland, Bermuda and Japan are largely equivalent to Solvency II, but not for all classes, according to the European Insurance and Occupational Pensions Authority.
Law firms Beachcroft and DAC merge
Beachcroft and Davies Arnold Cooper have merged to form DAC Beachcroft.