News
R&Q buys Takaful run-off firm Principle
Run-off specialist Randall & Quilter is to buy Principle Insurance, the UK Takaful motor insurer put into run-off in October 2009, for £4.275m.
Deacon offers managing agents PI cover
Blocks of flats insurance broker Deacon has developed a professional indemnity insurance products for managing agents.
Direct Line leads calls for ban on dangerous motorists
Bosses at Direct Line are calling for “out-of-control” drivers to be banned from the road following a study showing that 43% of UK drivers with 12 points or more have not been disqualified.
FSA did not seek compensation powers
The Financial Services Authority has insisted fears it was seeking draconian power to force brokers to pay unreasonable amounts of compensation are unfounded.
InFront Innovation become first carbon neutral claims handler
Eco-friendly employees at InFront Innovation are celebrating after becoming the first UK claims handling firm to comply with the British Standards Institute benchmark for carbon neutrality.
Amlin recruits former Chubb underwriter
Amlin has appointed Joanne McWhirter as class underwriter to its London cargo team.
PPI complaints drop by 38%
The Financial Ombudsman’s latest quarterly complaints data shows that the number of complaints referred to it by consumers are up by 24% over the last quarter (excluding PPI).
Towergate Broking MD resigns
Towergate has confirmed that David Partington has resigned from the broking division.
Three set to submit second round bids for IL&P
At least three groups will submit second-round bids for Irish Life & Permanent's life insurance business, according to reports in The Irish Independent.
Drainage firms merge to create £50m turnover
Two independent drainage companies have merged in a bid to create a £50m turnover in the provision of specialist services to household, industrial, commercial, transport and water sectors.
Average strength of companies deteriorates in Europe
Trade credit insurer Coface has reduced its 2011 forecasts for much of Europe following a deterioration of the average strength of companies.
ABI warns over government planning reforms
The Association of British Insurers has warned that government plans to reform the planning process must not lead to unwise developments being built in flood risk areas making flood insurance more expensive or even unobtainable.
Claims costs force UK P&I premiums up
The directors of the UK P&I Club have agreed to increase the premium rating of all members by 3% from 20th February 2012.
Car premiums fall as home insurance rises
Car premiums are falling while home insurance is on the rise, according to AA British Insurance Premium Index.
Coface downgrades forecasts
Trade credit insurer Coface has downgraded its forecasts for the US and much of Europe claiming financial market volatility “has spread to the real economy”.
Djanogly stripped of powers to regulate CMCs
Ken Clarke is set to take charge after Justice Minister Jonathan Djanogly failed to declare family interest in claims management companies, according to The Guardian.
George Boden to chair Compre board
Run-off and consultancy firm Compre has named George Boden as chairman.
BP Marsh reaps investment profits
Insurance industry venture capital firm BP Marsh announced a near 70% rise in pre-tax profit to £2.3m (2010: £1.4m) and said its net asset value (NAV) had grown 8.1% during the year.
Litmus appoints Shipperlee from S&P
Insurance consultancy Litmus Analysis has taken on former Standard & Poor’s and AM Best insurance analyst Stuart Shipperlee as a partner.
Hogarth and Marshall move to LAS
Former Imperial Consultants managing director Ian Hogarth, and senior client development manager, Ritchie Marshall have joined LAS Claims Management.
European fleet insurance market worth €18bn by 2015
The European market for fleet motor insurance is expected to be worth more than €18bn by 2015, according to Finaccord.
Axis International teams up with Middle East firm
Axis International Loss Adjusters and Surveyors has formed a partnership with Saudi Arabian-based Ahmed Omar Badhidouh & Partners Trading Co to provide loss adjusting and surveying services across the region.
Apil calls for clampdown on bosses who ignore workplace injuries
The Association of Personal Injury Lawyers (Apil) is calling for employers who use the incoming relaxation of some health and safety rules as an excuse to fail to report workplace injuries to face the full force of the law.
European insurers vie for KBC's Polish Warta
Several European insurers are believed to be in the running to acquire Polish insurance company Warta from Belgium's KBC, according to reports from Polish financial daily, Parkiet.