News
FCA tells sector to change its ways in motor legal expenses insurance review
Industry reacts to recommendations including opt-in sale of MLEI cover
Airmic 2013: Language shift needed to raise supply chain awareness says FM Global
Risk managers need to overcome “misleading terminology” that leads company directors to underestimate their natural catastrophe exposure, according to Stefano Tranquillo.
Swiss group Baloise to close Bremen and Nuremberg offices with 400 job cuts
Baloise is to close two German offices with the loss of up to 400 jobs.
Pet insurers pay out £1.2m a day
Pet insurers are paying out £1.2m every day to cat and dog owners according to the latest figures by the Association of British Insurers.
Airmic 2013: Resilient companies “engage with staff”
Companies that have a culture of risk awareness and are open with their staff are the best equipped to deal with crisis, research by the Cranfield Business School has revealed.
Airmic 2013: Risk management reporting “opaque”
Companies should be much more open about the way they report their risk management activity, Airmic and the Institute of Chartered Secretaries and Administrators has urged.
Firms struggling to manage their supply chains warns Airmic
Companies are finding it increasingly difficult to control their supply chains at a time when the cost of failure is higher than ever, according to risk management association Airmic.
Airmic 2013: Non-disclosure tops buyer concerns
The possibility that claims may not be paid due to innocent non-disclosure is the top concern of Airmic members, research has revealed.
Airmic 2013: Supply chain losses up 465%
Economic losses from supply chain disruptions increased an estimated 465% between 2009 and 2011, research has revealed.
Airmic 2013: Investment returns to blame for claims payments
Reduced investment returns and a lack of client knowledge is causing insurers to repudiate claims, Willis deputy chief executive Steve Hearn has claimed.
Epoq launches PI referral fees system
Legal technology firm Epoq has developed a consumer legal plan that enables insurance brokers to continue receiving payment for referring personal injury claimants to a law firm or to claims management companies.
Airmic 2013: Aon throws down innovation gauntlet
Aon group president Stephen McGill has challenged the insurance industry to step up its work on innovation.
Garwyn Group reveals £4.25m of cost savings in 2012 as it returns to profit
Garwyn Group has returned to profit after revealing savings of £4.25m in 2012 when it cut its headcount by 53 to 164.
Marsh report points to rising European trade credit insurance rates
Increasing risk and bad debt losses are fuelling rising European trade credit insurance rates, according to a recent Marsh paper.
Experian launches ‘no claims’ validation database
Technology firm Experian has unveiled a new database to ease the process of insurers checking a declared ‘no claims’ history.
Europe's trade credit insurance premiums on the rise
According to insurance broker Marsh, there has been a large increase in claims notifications in Europe since the last quarter of 2012.
Pay for Quindell executives more than doubles in 2012
The amount pocketed by Quindell Portfolio executive duo Rob Terry and Laurence Moorse more than doubled last year, according the outsourcer’s annual report.
Enstar deal will not impact financial strength of Atrium syndicate
The acquisition of Arden Holdings subsidiary Atrium by Enstar will not impact the financial strength of managing agent Atrium Underwriter’s Syndicate 609 at Lloyd’s.
Foreign owned insurers can use yuan as capital
China's State Council has changed the rules for foreign-owned insurers in the country by allowing them to use yuan as capital from 1 August.
Zurich seeks quick sale in Malaysia
The Swiss insurer needs to sell its 40% stake in MCIS Zurich after an acquisition in 2011.
China Taiping establishes new unit
China Taiping's new business unit China Taiping Insurance Group Co. has officially opened after a restructure at the group.
Airmic 2013: Airmic targets basis clauses
Airmic will focus much of its efforts in 2013 helping its members battle technical issues such as basis clauses.
Airmic "confident" global compliance database will be ready in 2014
Airmic expects to be able to offer risk managers access to a global compliance database “sometime during 2014", the risk management association's chief executive officer John Hurrell said today.
Hiscox names Pinchin as reinsurance CEO
Hiscox has appointed its Bermuda chief executive Jeremy Pinchin as the leader of its newly combined reinsurance businesses.