News
Storm Desmond insured losses could exceed 2009 Cumbria floods
Insured losses from Storm Desmond, which battered Cumbria on 5 and 6 December, could eclipse the £175m insured losses caused by flooding in the area in 2009, according to modelling firm RMS.
AIG sells $750m stake in China's PICC
AIG has sold a further share of its stake in China's largest general insurer PICC Property & Casualty.
Aviva prioritises digital tech with venture capital fund
Aviva will back new digital businesses with a venture capital programme, spending £20m a year for the next five years.
Claimant solicitor fees dispute awarded to Axa
Axa claims it has uncovered cases of exaggerated legal costs from claimant firm Asons, which the insurer has passed on to the Solicitors' Regulation Authority.
Aon appoints Tunnicliffe as UK risk management boss
Aon Risk Solutions has appointed Andrew Tunnicliffe as CEO of its UK operation replacing Jim Herbert who will take on the role of Europe, Middle East and Africa chief development officer.
Willis's Aubert to stand for Council of Lloyd's
Nicolas Aubert, CEO of Willis, is standing for election as a member of the Council of Lloyd’s.
Thompsons responds to insurer meeting on fraudulent solicitors
Claimant firm Thompsons Solicitors has accused insurers of "talking up a crisis" to suit their own agenda in relation to the amount of personal injury fraud reported by the industry.
Gauntlet Group launches network for small brokers
Leeds-based Gauntlet Group has launched a network offering smaller brokers services and market access.
Geography of Cumbria a hurdle for adjusters, Crawford says
Accessing flooded homes is the key priority for loss adjusters in the wake of Storm Desmond, which has caused widespread flooding in Cumbria and resulted in the death of one person.
Eighteenth acquisition for health consolidator Chase Templeton
Private medical insurance consolidator Chase Templeton has made its 18th deal for 2015, adding an extra £6.8m in annual premium income with the acquisition.
UPDATED: Sixteen severe flood warnings remain in place after Storm Desmond hits Cumbria
Sixteen severe flood warnings remain in place after Storm Desmond battered Cumbria on 5 and 6 December, with Carlisle, Keswick, Kendal and Cockermouth among the worst affected areas.
PRA approves 19 SII internal models
The Prudential Regulation Authority has approved the use of a full or partial internal model under the Solvency II Directive for 19 insurers for use from 1 January 2016.
ABI criticises FCA's late decision on complaints rules timeframes
The Association of British Insurers is disappointed the Financial Conduct Authority's amendment to the implementation date for changes to complaints handling and reporting processes, announced today (4 December), has come too late to avoid insurers…
Catlin and former Home Secretary back 'Cyber Re' idea
Insurer boss Stephen Catlin and former Home Secretary Lord David Blunkett have both expressed support for the idea of a government-backed reinsurance scheme for cyber crime.
Brokerbility acquires London-based broker CIC
Brokerbility Holdings Insurance Brokers has acquired London-based Churchill Insurance Consultants, taking its controlled gross written premiums to more than £50m.
Impact Forum: Apple to launch electric car in 2019 predicts government adviser
Technology giant Apple has been tipped by a government adviser to launch into the motor market by 2019.
Impact Forum: Renewable energy equal with cyber in terms of Lloyd's growth potential
Reneweable energy is among the burgeoning new classes of business in the Lloyd’s and London markets, alongside cyber, it was claimed yesterday at the Post Impact Forum.
BGL to dispose of Dutch aggregator Hoyhoy
BGL group has announced plans to dispose of its Dutch comparison site Hoyhoy, Post can reveal.
Quiz of the week - 4 December
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
No vote urged for Towers Watson shareholders
Towers Watson shareholders are again being urged to vote against the proposed merger with Willis Group by proxy adviser company Glass Lewis and Co.
Insured costs rise to A$120m for South Australia bushfires
The bushfires in South Australia have so far seen almost A$119.7m (£58m) of claims.
Chennai floods will cost insurers at least $300m
The devastating floods in Chennai, the capital of India's province Tamil Nadu, will cost insurers at least $300m (£198m) in claims as the rains continue.
Chaucer appoints XL Catlin's Callan as CFO
Lloyd's insurer Chaucer has appointed Robert Callan as chief financial officer of Chaucer Syndicates.
Cobra completes second acquisiton of quarter
Cobra Holdings has completed its acquisition of independent commercial insurance broker Philip Paul and Associates.