News
Collective redress rules are a "let down for consumers" says BEUC
The European Commission’s guidelines on collective redress mechanisms in European member states do not go far enough, according to The European Consumer Organisation BEUC.
Tucker to leave BoE to study in the US
Bank of England’s deputy governor Paul Tucker is to leave his job ahead of his contracted term to spend “a period of time in academia” in the United States.
Allianz expects €350m European flood hit
Allianz expects a net loss from the flooding in Central Europe to be approximately €350m, the German insurance giant said today.
LV Broker unveils EDI specialist motor product
LV Broker has launched a full-cycle electronic data interchange specialist vehicle product under the firm’s highway brand.
US offers $2.5m safety grant to Bangladesh
The US government has offered a grant of $2.5m to Bangladesh to help improve fire and safety standards and the protection of workers at factories.
Quindell prepares for full stock exchange listing
Quindell said it will be holding three "teach-ins" starting next Tuesday at its offices in Hampshire and London, in a bid to "provide a deeper understanding of the business".
Post Claims Awards - Ageas, AIG, Allianz, LV, Hiscox and RSA among the winners
LV and Ageas both won individual and team awards at last night's Post Claims Awards at the Grosvenor House Hotel.
Leaked memo outlines hundreds of planned job cuts at Aviva
Aviva has unleashed its next wave of job cuts, two months after the insurer revealed it was to axe 2000 roles globally.
This week's Asia highlights
The top five Asian highlights of the week.
Markel eyes trade credit opportunities in Asia
William Stovin, president of Markel International, has commented that his company sees significant opportunities to grow its trade credit book from Mumbai to Singapore.
Microinsurance becoming very popular in the Philippines
The number of microinsurance policies in the Philippines has almost doubled since the end of 2010 according to the Department of Finance.
World Bank cuts growth forecasts
The World Bank has cut its economic growth forecasts for China and the world.
Insurance industry is Europe's largest institutional investor study finds
The European insurance industry is the region's largest institutional investor, according to a study published by Insurance Europe this week.
CII welcomes Eiopa's focus on professional standards
The Chartered Insurance Institute has welcomed increased focus on general insurance professional standards within the European Union level.
NIG launches hub for top e-trading brokers
Commercial insurer NIG has launched The Hub Extra, a range of exclusive services, resources and dedicated support from NIG’s First Club and largest e-trade broker partners.
BGL CEO Winslow denies ABS move is linked to avoiding referral fees
BGL boss Peter Winslow has denied its acquisition of Minster Law is linked to avoiding the referral fee ban imposed by the Legal Aid, Sentencing and Punishment of Offenders Act.
Gibraltar finance exec insists it has no reputational issues after recent failures
The regulation of Gibraltar’s insurance sector is “strong and robust” according to Mike Ashton, senior executive in the government's finance department.
Axa Assistance adds misfuelling cover to its motor breakdown offering
Axa Assistance UK has extended its trading partnership with Insurance Choice by adding misfuelling insurance as part of an enhanced motor breakdown service for its motor insurance portfolio.
Former Carole Nash director unveils Girls Drive Better telematics
Former Carole Nash commercial director Simon Jackson has pulled back the curtain on a new telematics offering focusing on 17-25 female drivers.
Towergate hands Willis UK president role as Paymentshield director
Towergate has appointed Willis UK president Brendan McCafferty as commercial director at Paymentshield.
Disaster model released for German floods
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a scenario model for the recent German floods.
Regulators increasingly penalising cybercrime victims, says Ace
Corporate victims of cyber-crime are increasingly coming under government scrutiny, according to Iain Ainslie, cyber liability underwriter at Ace Group.
Aviva receives ratings downgrade as outlook remains stable
Moody's has downgraded Aviva’s main operating units' insurance financial strength rating to ‘A1’ from ‘Aa3’.
Gibraltar "not complacent” about insurer collapses
The regulation of Gibraltar’s insurance sector is “strong and robust” according to Mike Ashton, senior executive in the government's finance department.