News
Munich Re hit by £931m cat losses in 2011
Natural catastrophes in Australia and New Zealand have already cost Munich Re AUS$1.5bn (£931.1m) in 2011.
Aon unveils new professions team
Aon Risk Solutions has appointed the new leaders of its professions practice in London, and made some new hires.
RBSI claims director joins Weightmans
Weightmans boosted its insurance offering with the appointment of Kate Lotts to the newly created role of head of policy development (insurance).
Canopius accuses industry of "folly"
Canopius chairman Michael Watson has accused the insurance and markets of “folly” as rates continue falling despite 2010 being “one of the six” most costly years for insured catastrophe losses.
XL Group reveals possible $85m NZ quake loss
XL Group has revealed preliminary net loss estimates of $70-85m for the earthquake that struck Christchurch, New Zealand on 22 February.
Catlin estimates $125m quake loss
Catlin Group has estimated that the 22 February 2011 earthquake near Christchurch, New Zealand caused its losses of $125m.
Lack of personality means technology will never replace people
Human expertise in insurance will never be totally overshadowed by technological advances, stressed the breakfast briefing panel.
BGL analyst warns children of cyber threats
An information security analyst from insurance group BGL has visited a Peterborough school to teach students about the importance of internet safety and security.
News analysis - ECJ Judgment: The gender judgment
The Test-Achats case will have huge consequences for the motor, life and health insurance industries. Andy Tromans and Nick Elwell-Sutton explore the ramifications.
Inward-looking nature is holding back industry, claims IBM partner
The insurance industry's ability to execute intelligent decisions in the form of rules-based 'next best' actions is hampered by its "inward-looking" nature and failure to extrapolate from external experiences.
Technology reliance must not hinder contingency plans
Robust contingency plans must be in place to avoid over-reliance on technology, panellists warned.
Career development & CSR: Claims management firm attains IIP gold standard
ULR has joined the 1% of accredited companies to be awarded the gold standard by Investors in People.
Axa axes innovation hub
Axa has confirmed that its Insurance Innovation Hub is no longer in place following CEO Paul Evans' move to break-up the personal and commercial lines general insurance businesses.
Claims leakage approach sees a seven-to-one ROI
Martin Ashfield, head of commercial property claims at Axa Insurance, attributed the end of its historical "master-servant" relationship with suppliers to its investment in a consistent rules-based approach to claims leakage. Citing a seven-to-one return…
Public sector reveals way on administration savings
The insurance industry could do worse than look to its public sector counterparts to learn how 'intelligent decisioning' can simplify complex processes and witness the value of claims automation.
Chartis web app launches
Chartis has launched a web app for two of its SME products, so brokers can obtain speculative or last-minute quotes while on the move.
CCV looks to top 12 annual acquisitions
Callum Capital Ventures is aiming to exceed its current rate of one acquisition a month, after completing the purchase of South Wales-based Hanbury insurance.
Acquisition-hungry Swinton spells out 2011 buy strategy
High street broker Swinton is targeting at least 25 acquisitions in 2011, after completing five such deals so far this year.
Allianz calls on brokers to better BI basics
Allianz insurance has urged brokers to go “back to basics” to ensure more commercial customers are provided with adequate business interruption cover.
Catastrophe losses hold back Hardy profits
Hardy Underwriting’s profits halved to £10m during 2010, after it faced a string of international catastrophe losses with a net value of £37m.
Novae: UK corporation tax may force us to redomicile
Novae chief executive Matthew Fosh has said the UK’s economic landscape is set to force the insurer to redomicile, so it can remain competitive and yield bigger returns for shareholders.
Amlin blames earthquakes for £250m drop in profit
Amlin will monitor rate increases in earthquake zones in 2011, after blaming significant catastrophe activity for a £250m drop in profit for 2010.
ELTO pushes for 100% coverage
Ace has become the final major insurer to sign up to the employers’ Liability tracing Office.
LMIE aims for slice of mid-corp market
Liberty Mutual insurance Europe is targeting rivals Ace and Chubb for a larger slice of the mid-corporate market - a sector it believes will act as a “springboard” into the wider UK market.