News
Former Junction managing director heads for pastures new
The founder and managing director of affinity specialist Junction has left its parent company BGL. ...
Indie trial recommences
The trial of the three former directors of Independent Insurance resumed this week after the summer ...
Appointment at Junction
Junction has made three appointments across the company. Martin Overton, former chief operating offi...
Defence exchanges blows with Watson Wyatt witness
Watson Wyatt actuary Mark Trayhorn faced his first line of questioning from the defence today, before proceedings were brought to a halt at 1pm, writes Jamie Dunkley .
Post's pick of the week
Jonathan Swift, the editor of Post Magazine, presents a run down of the major stories featured in this week’s Post Magazine including a row between two global brokers, RSA’s moves to pacify intermediaries, a new aggregator linked to a major retailer,…
The Independent Trial
The trial of the three former directors of Independent Insurance resumed this week after the summer recess, with Mark Trayhorn, one of the company's former auditors from Watson Wyatt continuing to give evidence today.
Impending doom saw auditor give up trying
Independent’s internal actuary Paul Johnson had “given up trying to argue” the doomed insurer’s case, writes Jamie Dunkley .
Charles Taylor Adjusting re-launches risk analysis tool
Krris (The Key Risk Ranking Indicator System), a software-based product that enables underwriters and corporations to analyse and identify risk, is being relaunched with a revamped website. It has new features and has been adapted to the needs of several…
Jackson takes business development role at Motors
Leeds-based insurer Motors Insurance Company has appointed Andrew Jackson to the newly-created position of business development Manager.
Mullin appointed to Ace board
Ace announced today that Leo Mullin has been elected to its board of directors, effective immediately.
Heritage moves into property treaty with new appointment
Lloyd’s underwriter Heritage has announced the immediate appointment of James Braddock as head of its new international property treaty portfolio.
Smart & Cook acquires Willis' Cumbrian operation
Smart & Cook today acquired Willis’ Cumbrian operation, representing the firm's 54th acquisition.
Indie sprung £100m of claims on Watson Wyatt
Independent held back crucial claims information from its actuaries, making it virtually impossible for them to provide accurate claims projections as the insurer edged closer to collapse, writes Martin Friel .
Quinn Direct rating outlook positive at Moody's
Moody's Investors Service has assigned a positive outlook to the Baa2 Insurance Financial Strength Rating of Quinn Direct Insurance. The rating action reflects further maturity of the QDI business, as seen in both sustained profitability and an enhanced…
Chronic pain claims rising says Keoghs
Claims for damages in respect of long term chronic pain are on the increase according to national law firm Keoghs.
Beazley boss reduces activities
Lloyd's insurer Beazley's chief executive and founder Andrew Beazley will be undergoing medical treatment in the coming months and will therefore have a reduced day-to-day involvement in the business.
JLT signs exclusive Arab trading agreement
Arab Commercial Enterprises and Jardine Lloyd Thompson are establishing a joint-venture company in Saudi Arabia to support an exclusive trading agreement for the Kingdom and to underline their commitment to seek to align their interests, wherever…
Homeserve set to take on 500 new workers
Emergency insurance provider Homeserve is set to recruit 500 workers at its new Preston call centre.
Montpelier buys US excess & surplus insurance shell
Bermudian reinsurer Montpelier Re has gained access to 38 US states with the purchase of General Agents Insurance Company of America.
Crawford launches repair estimating service
Crawford & Company UK has launched NetRate 2007, a web-based scheduling tool to help contractors determine repair costs for schedules of work. The rates allow for regional variations and have also been independently benchmarked.
RSA develops flood risk assessment tool
Royal & SunAlliance (RSA) has introduced a range of new services for its property investor customers, including an assessment of the risk of flooding in their potential investment areas.
Colemont recruits for marine and energy business
Colemont Insurance Brokers has announced the recent appointment of Paul Marketis and Alan Stewart to the marine & energy division.
Chaucer continues with improved prior year forecast
Chaucer has announced improvements in its prior year business forecasts, after catastrophe-related losses settled within budget and reserve releases continued this trend.
Watson Wyatt was never told about letting brokers pay claims
On the first day after the summer recess the trial heard evidence from Mark Trayhorn, actuary at Watson Wyatt, the consulting actuary for Independent, writes Michelle Worvell .