News
UK insurers vote cyber as most concerning risk
Cyber risk has topped a list of 25 concerns facing UK insurers, PWC research has revealed.
SRA revives plan for compulsory PI reform
The Solicitors Regulation Authority has launched a consultation paper reviving its long held ambition to overhaul the compulsory solicitor’s professional indemnity insurance framework.
Apil blasts Confused survey over whiplash claims
The Association of Personal Injury Lawyers has rubbished claims that an increase in whiplash claims has led to higher motor policy prices.
Lloyd's Columbia office paves way for syndicates to provide onshore reinsurance
Lloyd’s has received approval from the Colombian authorities to open a representative office in Bogotá, Columbia.
Gallagher case mediator could accelerate resolution ahead of trial
The appointment of a mediator in Arthur J Gallagher's dispute with David Ross, Mark Mugge and Christopher Keey does not rule out the case progressing to trial, but a confidential settlement can offer benefits out of reach of a judge, according to…
Car hire firms promise better customer service after CMA review
Leading car rental companies have pledged to improve the way that they deal with customers after the Competition and Markets Authority led a Europe-wide investigation into short-term car hire.
Helphire departure ‘not a blow' to GTA, insists CHO director general
The director general of the Credit Hire Organisation, Martin Andrews, has told Post he is not surprised by Helphire's decision to pull out of the general terms of agreement protocol between insurers and credit hire firms.
L&G swaps Be Valued with RDG in its household supply chain
Legal and General has signed a three year contents claims handling partnership with Ryan Direct Group after the insurer’s previous relationship with Be Valued ended with the claims management specialist placing its service into run-off.
At least 161 staff to depart ERS following Brentwood closure
ERS has received “enormous goodwill” from brokers despite the disruption to service levels caused by a transformation plan that has so far seen 161 employees depart the insurer, according to CEO Ian Parker.
Bought By Many targets Chinese travel market
Bought By Many has signed an agreement with Chinese insurer Ping An to launch seven travel insurance policies in China for the online broker's first venture outside the UK.
Penny Black's Insurance Week
News that Markerstudy has launched its own Coat of Arms, inscribed with the Latin words Fortes Fortuna Juvat (Fortune favours the bold), sparked some interesting debate at Post Towers last week.
Consumers bear the brunt of IPT hike amid fears of further increases
Policyholders look likely to foot the bill for a 56% increase in insurance premium tax, but fears have been raised that the government could look to squeeze the already competitive market further by bringing UK IPT into line with Europe.
Insured losses during natural disasters in first half of 2015 below average, says Munich Re
The number of lives lost due to natural disasters during the first six months of 2015 is higher than the first half of 2014, but the overall losses and insured losses are below the long-term average, according to Munich Re.
Mapfre unveils insurance for exchange students
Mapfre has signed a travel insurance distribution agreement aimed at European Erasmus students with the Erasmus Student Network, a Europe- wide student exchange programme.
MIB and DfT dispute allegations of uninsured drivers' agreement 'shambles'
The Motor Insurers' Bureau and the Department for Transport have rebuffed claimant lawyer allegations the new uninsured drivers' agreement is a "bodged job" that breaches European Union law and have confirmed they will not amend the document.
Peak Re targets non-Asian markets with underwriting appointment
Railovy Boyer, former head of property and casualty pricing actuarial at Partner Re Paris, has joined Peak Re as director for underwriting.
Typhoon Chan-hom leaves China with 8bn yuan losses
Last weekend's powerful Typhoon Chan-hom has left a trail of destruction mainly across Zhejiang province in China.
Turnover up but profits down at Be Wiser
Broker Be Wiser Insurance Services has reported an increase in turnover and the amount of policies on its books for the year ending 31 May 2015.
Generali appoints head of engineering in Asia
Timson Hui has been appointed head of engineering, Asia at Generali Global Corporate and Commercial.
PWC announces sanction of arrangement scheme for Independent Insurance
Mark Batten and Dan Schwarzmann of PWC, joint provisional liquidators of Independent Insurance Company, have announced Independent's scheme of arrangement has been sanctioned by the High Court on 9 July 2015 and becomes effective on 13 July 2015.
Hearn hire tipped to give CGSC an edge amid wider broking exodus
External influencing factors have been cited as the trigger for a host of high-profile broking departures, as the sector’s managerial merry-go-round once again enters full swing.
FCA to consult on insurance renewal deals
The Financial Conduct Authority has confirmed it will launch a consultation later this year to review the best ways to ensure that consumers get the best insurance renewal deals.
Willis GB CEO Nicholas Aubert appointed to LIIBA board
Nicholas Aubert, the CEO of Willis GB, has been appointed to the executive committee and board of the London & International Insurance Brokers' Association.
Insurers issue cancellation guidance following FCO advice change
Holidaymakers who travel to Tunisa will no longer be covered by insurance following a change in the advice from the Foreign and Commonwealth Office.