News
Marsh recruits former Channel Tunnel engineer
Marsh has recruited an in-house adviser to work on complex construction projects.
Claims body reports massive savings for insurers
The Irish body set up to reduce insurance costs, the Personal Injuries Assessment Board, today reported that it is processing claims at a rate that is three times faster and four times cheaper than the old litigation based process whilst still providing…
Arag makes first buy
Legal expense provider Arag has purchased fellow provider ULR (Knebworth), taking over its motor and household accounts from 1 January 2007.
AIG buys London City Airport
London City Airport has been bought by a consortium led by a subsidiary of US insurance giant American International Group for an undisclosed fee.
Endsleigh launches new online home insurance service
Insurance intermediary Endsleigh has launched a new online home insurance service for Moneyextra, the personal financial services website. The service offers contents and buildings insurance, as well as specialist insurance for tenants living in rented…
Swiss Re: High-growth credit market worth $6.9bn
Swiss Re has valued the credit and surety insurance market business at $6.9bn in premiums in its latest Sigma study. The world’ largest reinsurer highlighted the link between increased demand for credit insurance and above-trend growth in world trade,…
Agriculture book sold
Equity Insurance has acquired the agricultural vehicle book of Staffordshire specialist broker Charles E. Peake.
Marsh in West Country push
Marsh has appointed a new development executive in Exeter to develop business in the area.
ABI warns housebuilders about floodplain risk
Further building on the floodplain should be avoided as climate change increases the flood risk the Association of British Insurers said today. In the last four years nearly 800 new housing developments have been built in high flood risk areas against…
Converium gets retakaful licence for Malaysia
Converium has received the approval of the Malaysian Labuan Offshore Financial Services Authority (LOFSA) to write international 'Retakaful' business through its Labuan office. Retakaful is the reinsurance of 'Takaful' business, the writing of insurance…
Profits up 14% at Room solutions
Room Solutions, the supplier of IT solutions and services to the non-life insurance industry, showed turnover up 14.8% from £12.1 million (2005) to £13.9 million (2006). for the year ending 30 June 2006, pre-tax profits were up 71% from £0.67m to £1.14m…
Tonks handed development role at N&G
Simon Tonks is to join Navigators & General as development manager. Currently marine underwriting manager at Allianz, he will join the management team with nationwide responsibility for the development of all distribution channels within N&G.
Senior appointment at Cooper Gay
The Cooper Gay Group has announced that James Summers has been appointed as chief executive officer of its Lloyd’s broking arm, Cooper Gay & Co.
Motor rates rise for second quarter in a row
The cost of car insurance has risen for the second quarter in succession, according to the latest benchmark AA British Insurance Premium Index.
ABI proposals aim to simplify online protection sales
The Association of British Insurers is putting forward proposals for consultation on new guidance to make applications for life, protection and critical illness over the telephone and Internet clearer.
Alexander Forbes launches PI to cover accountants in run off
Alexander Forbes Professions has launched a professional indemnity insurance product for members of the Association of Chartered Certified Accountants to cover a six-year run-off period following the closure of a business or on a sole practitioner’s…
Groupama brings in broker head from rival
Groupama Insurances has announced the appointment of Claire Ginnelly, who will shortly be joining Groupama Healthcare from Standard Life Healthcare as head of healthcare solutions. The insurer said she will head the company’s business development…
Labuan Re achieves A- rating
Malaysian Reinsurer Labuan Reinsurance has been upgraded to an A- financial strength rating by AM Best.
SBJ wins out in major tender
SBJ Professional has won out in the tender to be the appointed professional indemnity insurance broker to The Institute of Chartered Accountants in England & Wales.
Primary outlines merger
Primary Broker Services Holdings has announced a plan to merge two of its commercial underwriting agencies, subject to any necessary regulatory approvals.
FSA announce that providers and distributrs need to work together to treat customers fairly
The Financial Services Authourity (FSA) have issued Discussion Paper 06/4: ‘The Responsibilities of Providers and Distributors for the Fair Treatment of Customers.’
Aquilo confirms bid approaches
Aquilo has received a number of bid approaches, the claims management company confirmed this afternoon.
Research confirms online insurance buying habits on the rise
New research from Foolproof, the user experience consultancy, claimed that 50% of the UK’s motor insurance policies and 28% of its home insurance policies have been sold online. The annual study also said consumers expect to see further growth in online…
Tories call for tougher Road Safety Bill
The Conservative Party is considering tougher penalties and seizing and crushing more cars to "tackle the mounting problem of rogue drivers" without insurance, who fail to register their cars or drive without licences.