News
$20bn of natural disaster insured losses in first half of 2013
Global natural disaster losses during the first half of 2013 on both an economic and insured basis were each below the recent 10-year (2003-2012) averages according to Impact Forecasting.
79 killed in Spanish train crash
A train derailed near the town of Santiago de Compostela in North-western Spain on the evening of 24 July killing at least 79 people and injuring up to 131.
SSP attributes growth to revenue model change
Technology firm SSP has said its growth in recurring revenues is a direct result of scrapping large upfront licence costs.
Keoghs increases fraud savings by 26%
Counter-fraud legal services provider Keoghs said today it helped insurers avoid paying £156m on suspected fraudulent claims in its last financial year – a 26% increase on 2012.
Portal extension should include multi-defendant claims, argues Zurich boss
Multi-defendant disease and deafness claims should be included in the extended road traffic accident portal, according to Zurich’s casualty claims director Karl Helgesen.
DLG’s Tom Woolgrove new CII president
Direct Line Group’s Tom Woolgrove is to take over from Amanda Blanc as president of the Chartered Insurance Institute, following an election at the organisation’s annual general meeting.
Hiscox launches online insurance platform in Germany
Hiscox started offering insurance in Germany via a direct and online insurance offering.
Hiscox expands in Germany with online platform
Hiscox has launched a new direct and online insurance offering in Germany, aimed at businesses with up to €2.5m annual revenue in knowledge-based professions including IT, management and business consulting.
Zurich launches policy validation unit for brokers to help tackle fraud
Zurich has launched a dedicated policy validation unit in a bid to help personal lines brokers tackle fraud at the quote stage.
FCA will act on 'competition mandate' Wheatley warns
The Financial Conduct Authority’s plan to drive effective competition in all financial services markets is the biggest break with the old regime, chief executive Martin Wheatley said today.
FCA puts competition at the heart of new regime
Ensuring that there is effective competition in financial services markets is the most significant change to the Financial Conduct Authority’s new regulatory regime, chief executive Martin Wheatley said today.
Solvency II voted biggest regulatory challenge by EMEA insurers
Over 90% of insurers in Europe, the Middle East and Asia view Solvency II as the biggest regulatory challenge facing their organisation, according to a study by the Economist Intelligence Unit.
Solvency II is "biggest challenge" for 90% of EMEA insurers
Solvency II tops the list of the biggest regulatory challenge for insurers in Europe, the Middle East and Asia, according to a study by the Economist Intelligence Unit.
The Insurance Fraud Awards shortlist 2013
Growing once again in popularity, the fifth annual Insurance Fraud Awards received a record number of entries and we are delighted to announce the shortlist.
Volvo AEB system sparks reduced premiums for drivers
Volvo claims that its autonomous emergency braking system could save motorists up to £160 per year on their car insurance premiums, after the manufacturer declared the system will be fitted on most new models.
SSP revenues in marginal decline amid 'sluggish market'
Technology firm SSP’s annual results reveal a fall in revenue to £70.7m (2012: £71.7m) for the 12 months ended 31 March 2010.
Ghost broking battle gains impetus as Gumtree closes insurance platform
Brokers welcome the decision to dispense with the category
AIG appoints Jason Beelders to lead new partner network
Jason Beelders has been named head of AIG Europe’s newly formed multinational network partner practice, based in London.
Aviva faces cost backlash over adjusting panel cuts
Redundancies feared at Crawford after lost business.
Insurers left perplexed by FSB’s ‘global systematically important’ tag
Report highlights potential ratings impact for implicated insurers.
Plum in Northern Ireland move to grow footprint
Plum Underwriting is expanding its underwriting footprint by beginning to write non-standard and mid-net worth household risks in Northern Ireland.
Oval secures £43m four year refinance deal
Oval has secured a £43m refinance package to support its growth plans, with Barclays and Lloyds providing the funding.
Paedophile teacher leaves council picking up £300 000 liability excess
North Somerset Council is facing the possibility of paying out £300 000 in insurance excesses professional indemnity claims relating to the victims of a paedophile teacher.
More brokers face fines over add-ons after Swinton pays £7.4m penalty
Analyst blames drop in Esure’s profit expectations on bundled add-ons.