News
Hiscox opens £19m York office
Hiscox has today (2 December) opened its office in York, a £19m investment.
Hong Kong investigates claims database
The Hong Kong Federation of Insurers has set-up a provisional board to investigate establishing a claims database for Hong Kong.
Gallagher buys in New Zealand
Arthur J Gallagher has bought Timaru-based broker Reid Manson in New Zealand for an undisclosed sum.
Penny Black's Insurance week - 3 December 2015
We recently heard why robbers shouldn’t target any insurer’s chief digital officers as they are likely to be caught on camera by high tech gadgets.
County acquires Heath Insurance Services
The County Group has acquired Knutsford-based broker Heath Insurance Services, which has a gross premium income of £1.4m.
Management changes for Ageas Retail and Partnerships
Ageas has announced several key moves across the business in its retail and partnerships divisions.
Aviva augments wholesale ambitions with Lloyd's trading location
Aviva is to open an office adjacent to Lloyd's to bring its underwriters closer to brokers in the international wholesale arena.
Marsh completes Jelf acquisition
Marsh has completed its acquisition of Jelf after the deal was approved by regulatory authorities and Jelf's shareholders.
FCA posts alert about unauthorised insurer
The Financial Conduct Authority has issued a warning about an unauthorised insurance company, AJ Cox Insurance.
Reserving certainty a fillip for insurers in Enterprise Bill amendment
A proposed amendment to the Enterprise Bill under consideration by the House of Lords is being championed as giving insurers more certainty around reserving for damages relating to late claim payments.
Career development: Microfinance drives surge in financial inclusion
Research has found both microfinance providers and mobile carriers are driving a surge in financial inclusion for the unbanked populace in developing nations, through the provision of sophisticated mobile finance services.
Career file: Ian Muress: Expanded role for Muress as Crawford restructures
Crawford Europe, Middle East, Africa and Asia Pacific CEO Ian Muress is to take on additional responsibility for Canada and Latin America after being named international operations CEO as part of a group-wide restructure.
Market Moves - 3 December 2015
All the movers and shakers in the market
Uptick in CMC activity predicted as insurers eye long-term motor rate reductions
Insurers have widely committed to pass on savings set to flow from the government’s heightened whiplash reforms, despite a predicted surge of activity among claims management companies in the interim period.
Industry disputes claimant solicitor criticism of move to 'care, not cash' claims model
Criticism of the government’s acceleration of personal injury reforms in the motor market by the claimant legal fraternity has been dismissed by the wider insurance industry, which has welcomed a shift in claims from cash to care.
Cyber and economy increasing concerns in financial system risk
Economic downturn, cyber attack and geopolitical risk pose the most concern for the UK’s financial system, according to the Bank of England’s biannual systemic risk survey.
Axa increases stake in Indian joint ventures to 49%
Taking advantage of new regulations Axa has increased its stake from 26% to 49% in Bharti Axa General Insurance and Bharti Axa Life Insurance.
Career File: Senn steps down as Zurich's global CEO
Martin Senn, Zurich's global CEO, has reached an agreement with Zurich's board to leave the company.
Zurich commits to general insurance in Singapore after life exit
From today Zurich will not accept any more life insurance policy applications in Singapore.
Product disclosure statements are too long and complex, says ICA
An Insurance Council of Australia taskforce has made 16 key recommendations to improve Australia's insurers' product explanations to customers.
Stream halts trading in Australia as part of bid to raise capital
Stream Claims Services UK’s Australian-based parent the Stream Group requested a pause in trading on Friday (27 November) in a bid to conduct a capital-raising drive.
Peer-to-peer insurers tipped as attractive M&A targets
Acquiring peer-to-peer insurance companies has been tipped as a way for traditional insurers to protect market share as the demand for insurance products changes, a Deloitte report claims.
Claims Club: Mediators told to emphasise service to claims professionals
Mediation practitioners must shoulder some of the blame as to why insurance claims managers have not made greater use of their services, according to Expedite Resolution director and mediator Phil Hesketh.
Claims Club: Mobile phone payments key to improving satisfaction scores
Insurers need to wake up to the growing trend of customers using their mobile phones as a “unique” ID, which could help speed up claims payments and improve satisfaction scores.