News
Towergate confirms closure of financial risks underwriting unit
Towergate has confirmed the closure of its underwriting division's financial risks unit which mainly managed professional indemnity business.
Ifed investigates fake whiplash claims
An ongoing investigation into what is believed to be a large-scale referral fee fraud targeting solicitors saw nine people interviewed nationwide this week.
Fix Auto UK to benefit from parent's PE investment
Fix Auto UK's parent company has secured a C$8.2m (£4.1m) private equity investment which will be split between its international operations for growth and acquisition purposes.
Carole Nash sees marginal profit increase as turnover drops
Carole Nash reported increased pre-tax profits of £3.94m for the 12 months ended 31 December 2014 (2013: £3.93) despite a £1.5m drop in turnover for the period.
PRA sets December deadline for final decision on SII models
The Prudential Regulation Authority is to make final decisions about firms' internal Solvency II models in December, according to its insurance supervision executive director Sam Woods.
Insurance quiz of the week - 10 July 2015
Insurance swat or could do better?
Dual enters UK agricultural market
Hyperion's underwriting arm Dual has entered the UK agriculture market as part of its strategy to provide more specialised products to SMEs.
Direct Insurance looks to Towergate for London market hire
Direct Insurance London Market has hired former Towergate broker Matthew Pini as a senior broker.
Catherine Barton given Bupa UK role
Bupa UK has appointed Catherine Barton as finance and commercial director.
How Twitter reacted to IPT increase
The insurance sector has taken to Twitter to voice its reaction to yesterday's announcement on the increase in Insurance Premium Tax.
Ross terminates contract after claiming trust breach by Gallagher
Incoming Towergate CEO David Ross has claimed Arthur J Gallagher breached its duty of trust and confidence, which has led to him terminating his employment with the company.
Insurers upping IT spend to unlock digital potential claims CSC boss
Insurance companies are starting to “unlock” their inner digital insurer according to CSC’s insurance boss.
Shock IPT raise - more reaction
The insurance sector is still reeling after George Osborne's Budget announcement to raise insurance premium tax by more than 50% from 6% to 9.5%.
Ex-Axa boss Maso joins Covéa as advisor to CEO Derez
Former Axa UK CEO Philippe Maso has joined Covéa as advisor to group chairman and CEO Thierry Derez.
Court clarifies commercial term in warehouse fire ruling
A 7 July Court of Appeal ruling will give the insurance industry clarity on the meaning of the widely used term "unattended" in the context of commercial premises, according to law firm RPC.
BIA 2015: Inga Beale wins Insurance Personality of the Year
Lloyd’s CEO Inga Beale was tonight crowned Insurance Personality of the Year at the British Insurance Awards.
BIA 2015: David Hertzell wins Achievement Award
Former Law Commissioner David Hertzell was awarded the prestigious Achievement Award at tonight’s British Insurance Awards.
British Insurance Awards 2015: The winners
AIG, LV and Wilby were among the big winners at the British Insurance Awards – collecting two gongs apiece.
Chancellor promises review of CMCs in summer Budget
The Government has pledged a review into the regulation of claims management companies in the Summer Budget.
Osborne drops IPT Budget bombshell
Chancellor of the Exchequer George Osborne has caught the industry by surprise with an announcement that insurance premium tax will rise to 9.5% from November.
British Insurance Awards 2015: As it happened
The industry's most anticipated awards ceremony is over for another year.
Mediator appointed to oversee Gallagher and Ross dispute
A mediator has been appointed to intervene in the dispute between Arthur J Gallagher and its former international CEO David Ross, former chief financial officer Mark Mugge and consultant Christopher Keey.
Private prosecution service launched for fraudulent claims
A law firm and an investigation company have partnered to offer insurers a private prosecution service for fraud cases that would see payment of reasonable costs from a central fund.
Indian reinsurer added to list of Altitude capacity providers
Altitude Risk Partners, Castel’s global aviation and space underwriting business, has added the General Insurance Corporation of India to its aviation capacity providers.