News
Regulatory uncertainty raises domicile questions
Splitting tax domiciles and regulators could be an enticing prospect for insurance groups looking to avoid the European Union’s Solvency II regulations.
Sime set for Zurich move
RSA sales and strategic relationships director Chris Sime has been named as Zurich’s head of broker market for Scotland.
Surgeons offered complication cover following breast implants scandal
A compulsory scheme providing cosmetic surgeons with complication insurance cover has been earmarked as an important step towards avoiding a repeat of the aftermath of the Poly Implant Prothèse scandal.
89% of young professionals underinsured: L&G
Nine in 10 18-27 year old professionals would be unable to replace their belongings after a fire flood, even where they have insurance, according to L&G.
Planned reductions results in Q1 GWP shrinkage at Novae
Novae Group chief executive Matthew Fosh has described the first three months of the year as “a solid start”, despite seeing his firm’s gross written premium shrink to £184.6m (Q1 2012: £231.1m)
Lords’ EL U-turn brings uncertainty and will lead to satellite litigation
Insurers have been warned they may face increased indemnity spend for employers’ liability claims, as legislation passed by the House of Lords last week in the form of the Enterprise & Regulatory Reform Act 2012 will require time-consuming and costly…
BVI sees captive flight
The British Virgin Islands has seen its popularity as a captive destination decline over the last few years, according to a report by research firm Timetric.
DLG domestic panel loss review axes GAB Robins
GAB Robins has become the first adjuster to confirm it has been impacted by a long awaited panel review by Direct Line Group, losing its position on the personal property panel.
Crawford making redundancies after Ecclesiastical, LBG panel cuts
Crawford & Company has revealed that it expects to make a number of staff redundant after the most recent round of panel reviews.
Simplyhealth targets SME market with PMI product
Simplyhealth is targeting small to medium sized businesses with a new private medical insurance proposition.
Man City starlet faces £1m insurance bill over death crash
A Manchester City youngster jailed for causing the death of a brother and sister in a night time crash could face an insurance bill of more than £1m.
European court considered as Primo trademark battle continues
Primary Group-owned Qmetric is understood to be considering registering one of its insurance brand names with the European Union’s trademark after its application in the UK court was turned down.
Telematics Expo: Magic number is 200 says Aviva
Telematics can reliably predict the future driving style of a customer after 200 miles of use according to Aviva's GI partnerships and business development director Simon Warsop.
Market Moves: Ecclesiastical, Hiscox and Mitsui Sumitomo lead the way in busy week for insurers
This week saw a host of major insurers complete hires in business areas ranging from sales to claims. Among the firms leading the recruitment race were Hiscox, Ecclesiastical and Mitsui Sumitomo. Elsewhere, while the broking sector registered little of…
DAS targets post-Laspo landscape following 2012 GWP growth
The DAS UK Group increased gross written premium by 10.5% last year, while returning a profit of over £11m before reinsurance and tax.
Telematics Expo: Insurers must ease drivers’ data privacy concerns
Insurers’ self-interest in launching telematics products has fostered consumer fears about data privacy, according to the founder of telematics firm Ingenin.
Telematics Expo: Citroën sales head acclaims DLG young driver deal
Telematics has put free insurance back on the table for young drivers, according to Citroën head of sales programmes Jeremy Smith.
International motor policies should cover political violence says Clements
Car owners need to be alert to the threat political violence poses to their vehicles, according to Clements Worldwide.
Telematics Expo: Study suggests engagement improves driving behaviour
Initial research by telematics start-up Carrot Insurance has revealed a link between customer engagement and driving behaviour.
Telematics Expo: ABI pre-empts telematics regulation with new guide
Trade bodies can play an important role in the development of the telematics industry, particularly in warding off the threat of regulation, according to Association of British Insurers policy adviser Ben Gaukrodger.
Top 5 European news stories
The top five stories from www.insuranceinsight.com over the past seven days.
Turkish cat pool taps capital markets for reinsurance
The Turkish Catastrophe Insurance Pool has gone to the capital markets to gain protection for earthquake risk in the Istanbul region.
PRA lobbies UK parliament for Solvency II probe
The head of the Prudential Regulation Authority, Andrew Bailey, has asked the British parliament to review Solvency II reforms he termed “lost in the detail and vastly expensive”.
Go Compare tops most complained about ads
Car insurance price aggregator Go Compare has seen its adverts slammed by consumers, taking the top two spots in numbers of complaints published by the Advertising Standards Agency.