News
Biba backs raised penalties for uninsured drivers
Increased fines for uninsured drivers have been welcomed by the British Insurance Brokers Association.
“Significant damage” expected from devastating European floods
Catastrophe modelling firm Eqecat has warned the industry to expect significant damage from the floods that have inundated Germany, Austria and the Czech Republic over the past week.
Transport minister unveils fixed penalty rise for motoring offences
Careless motorists who put other road users at risk and those that get behind the wheel without insurance face on-the-spot penalties under new measures revealed today by road safety minister Stephen Hammond.
Manchester Police to inform insurers if burglary victims at fault
Insurers may be automatically informed if a burglary occurs at an unsecured property under new plans from Manchester police.
European insurers failing to diversify in investment: report
Most insurers only allocate up to 3% of their investment portfolios to alternative assets, according to a report from Axa Investment Managers and the Boston Consulting Group.
4% of China's market to be foreign owned by 2018
The Chinese market could see non-domestic insurers’ market share quadruple over the next five years according to Ernst & Young.
Chadbourne promotes EMEA partners
International law firm Chadbourne & Parke has promoted two staff to the newly created position of Europe, Middle East and Asia liaison partner.
RSA secures Cambridge Building Society contract
RSA has won the contract to underwrite Cambridge Building Society’s home insurance product until the end of 2016.
IFB working on new model to attract brokers put off by membership cost
Move coincides with demand for greater broker representation on fraud register
Financial transaction tax will have ‘significant implications’ for insurers
EU tax’s implementation date and final form unclear amid legal challenges
Spain protests innocence as more countries refuse EHIC
European hospitals accused of trying to profit from insurers
European regulators’ inability to find traction leaves loss adjusters in limbo
FCA regulation and claims certification touted as solutions to IMDII removal
Axa denies complicity after Accident Exchange exhumes Autofocus cases
AE’s chief vows to right wrongs of ‘deceitful’ practices in targeted legal action
MPs call for withdrawal of parts of Mesothelioma Bill
Six MPs have called for the exclusion of certain parts of the Mesothelioma Bill, ahead of its discussion in the House of Lords today.
Japan's insurers see motor market recovery
Japan's motor market, which makes up 50% of general insurers' premiums, has seen a recovery in its underwriting profits to the end of the fiscal year March 2013.
Dai-ichi Life buys in Indonesia
Japanese life insurer Dai-ichi Life has bought 40% of Panin Life in Indonesia.
BP Marsh ready to sign another deal
BP Marsh chairman Brian Marsh has said he expects to sign a new deal tomorrow [4 June] following publication of his firm's financial results.
Foreign insurers set for 4% China market share by 2018
The Chinese market could see non-domestic insurers’ market share quadruple over the next five years according to Ernst & Young.
Royal London members back Co-op life deal
95% of Royal London members have today voted in favour of the mutual’s acquisition of the Co-operative Banking Group’s life insurance and asset management business.
Property Claims 2013: Insurers told to go Down Under
Insurers could boost the industry’s reputation by imitating the Australian model of working closer together to tackle catastrophic claims surges, according to John Pyall, head of Munich Re’s Great Lakes facilitated claims unit.
Property Claims 2013: Cashing-out not always the answer
Axa’s head of commercial property claims has raised concerns that cashing-out on property claims can lead to them being mishandled or resurfacing in the future.
Property Claims 2013: Property profitability under threat, says LV boss O’Roarke
Comparison sites and building practices pose problems
Property Claims 2013: Industry gives its backing to Flood Re model
A panel has backed the Association of British Insurers’ Flood Re scheme to replace the Statement of Principles, while warning that a return to an open market situation remains a possibility.
Property Claims 2013: Insurers urged to use fraud register to punish fraudulent policyholders
Industry told of ‘massive obligation to raise awareness around morality’