News
Biba boss welcomes "great win" over travel regulation
The British Insurance Brokers’ Association has welcomed the proposals from the Treasury today for the Financial Services Authorty to regulate all organisations which sell travel insurance.
FSA to regulate all travel insurance
The Economic Secretary to the Treasury, Ed Balls, today announced that the Government intends to give the Financial Services Authority (FSA) the responsibility for regulating the selling of travel insurance sold along with a holiday. The FSA at present…
Bermuda poised for ‘corruption dossier’ revelations as courts deny gagging order
Bermudian police and legal chiefs are are fighting a last-ditch action that could see them appeal all the way to the Privy Council in London to obtain a gagging order against local media wishing to publish excerpts from leaked police files from…
Crawford makes Swiss move
Crawford & Company has announced an association with a local partner in Switzerland to form Crawford Partner (Switzerland) which will cover claims management in Switzerland and Liechtenstein.
UIB in Brazil tie-up
London-headquartered United Insurance Brokers group (UIB) announced a new venture in Brazil as part of an expansion strategy for Latin America.
Hertzell to replace Beale at Law Commission
The Lord Chancellor and Secretary of State for Justice Lord Falconer, today announced the appointment of David Hertzell to the post of Law Commissioner.
London Market boss tells of poor morale
The prosecution called its next witness today, with Ian Helmore, formerly assistant general manager at the insurer’s London Market business taking the stand, writes Ralph Savage .
A business process solution for the market
KnowledgeCenter, the provider of integrated Electronic Document Management and Workflow solutions to the Insurance Broking Market has launched it's latest product offering for the Market. 'KCenter 1 View' will deliver web-based Document Repository…
Bright's defence questions £7m ready to register evidence
Defence counsel for Michael Bright today questioned that £7m of claims should have been safely entered onto Independent’s system, and argued that the former boss was sensibly managing the situation, writes Ralph Savage .
CEO to leave as AA confirms deal with Saga
Saga and the AA have agreed to establish a new holding company, while continuing to trade under their own brands.
Saga and the AA set to merge
According to reports Saga, the over-50s specialist owned by private equity house Charterhouse is set to merge with the AA, owned by private equity groups Permira and CVC. The two firms would create a business with a value in excess of £6bn, and value the…
Skills Council appoints new director of skills development
The Financial Services Skills Council (FSSC) has appointed Sarah Thwaites, currently manager, industry training at the Financial Services Authority, as its new director of skills development.
Aon replaces its UK chairman of marine
Aon has appointed a new UK chairman of marine to take over from Nigel Roberts who the broker said would continue his seconded role at Lloyd's while supporting strategic Aon initiatives.
IPC returns capital in $100m buyback
Bermudian reinsurer IPC holdings has revealed that during the second quarter of 2007 it bought back $100m of its common shares, half of the $200m buyback facility agreed by the firm’s board back in April 2007.
Law firm launch compliance service for brokers
Vizards Wyeth, a leading insurance law firm, has launched a new service, Advantage Broker, to provide specialist advice and training to help general insurance brokers prepare for the FSA’s move to a more principles-based approach to regulation (PBR).
Head reinsurance underwriter departs Kiln
Bermuda-based international (re)insurance specialist Kiln has announced that Andrew Carrier, active underwriter of RJ Kiln’s syndicate 557 and the reinsurance division of syndicate 510, has decided to leave the company.
Hiscox premiums up 15% to May but 20% de-emption planned for 2008
International specialist (re)insurer Hiscox has reported an increase of 15% in gross written premium to May 2007 despite the weakening US dollar, but has announced a planned 20% de-emption of capacity in 2008 for its flagship Lloyd’s syndicate 33.
Adjuster boss does not rule out acquisition as it expands into Ireland
Following new contract wins, Mathieson-Ingham Adjusting has said it plans further expansion with a presence in Northern Ireland.
Carrier departs in Kiln shake up
Following the redomicile of Kiln to Bermuda and the formation of Kiln Ltd, the new ultimate holding company, Kiln has taken the opportunity to review its management structure to reflect the new organisation.
Liberty International Underwriters Expands Specialty Casualty Products
Liberty International Underwriters (LIU), a division of global insurer Liberty Mutual, has expanded four specialty casualty insurance products.
Bahrain to overhaul rules for overseas insurers
The Central Bank of Bahrain is proposing amendments to capital requirements for branches of foreign insurance firms operating in Bahrain.
Broker boss predicts it will become a "dominant force" after unveiling new office
Lloyd’s broker Howden today announced the opening of a new office in Argentina by its joint venture, VK Howden.
Hiscox in £27.5m swoop for insurer
Hiscox has announced the acquisition of ALTOHA an insurance holding company and its subsidiaries American Live Stock Insurance and Harding & Harding, the affiliated insurance agency for $55m (£27.5m).
Insurex Expo-Sure launches online occasion insurance
Specialist event insurance provider, Insurex Expo-Sure, a division of Hiscox, has launched its comprehensive cover online for organisers of small events.