News
Insurers urged to keep abreast of construction sector developments
Allianz and Euler Hermes are urging insurers and brokers to keep up-to-date with changes in the construction industry following the publication of a joint report.
Liberty poaches TMK property team for Madrid office
Liberty Specialty Markets is writing property insurance business from its Madrid office for the first time with the appointment of a new team from Tokio Marine Kiln.
Government mobile phone penalties welcomed by AA
AA Insurance has welcomed a government move to increase the penalty for using a hand-held mobile phone or other device while driving as a "victory for common sense".
Proposal for compulsory pet insurance backed by software firm
Aquarium Software has backed calls for pet insurance to be made compulsory by law in Scotland as a step in the right direction for owners, animals, vets and insurers.
Aviva notes 19% rise in cash for crash as 4000 suspect claims are studied
Aviva has revealed it is looking into more than 4000 suspect whiplash claims after confirming it received five of the 28 fraudulent claims involved in a major cash for crash ring in Wales that cost insurers more than £763,000.
Motor rates accelerate as government's IPT hike is rolled out
The government’s introduction of higher insurance premium tax last month has served to accelerate average annual best buy motor policy deals by 10.9% to £696, according to market research conducted by Consumer Intelligence.
Gallagher makes Australian acquisition
Broker Arthur J Gallagher has acquired Australian-based Strathearn Insurance Group.
New chair for Oric announced
Oric International has appointed Dee Lehane to chair the operational risk group’s board.
Insurers pay millions to those hit by Storm Desmond
Insurers have paid out £2.6m in emergency funding and housed 1500 families in alternative accommodation following Storm Desmond, according to analysis by the Association of British Insurers.
Brightside and RDG partner on motor ancillary initiative
Ryan Direct Group has partnered with Brightside Insurance Group to distribute a suite of ancillary motor products.
Man-made disasters increase insured losses
Total economic losses from natural and man-made disasters will hit approximately $85bn (£56bn) this year, with $32bn of those losses covered by insurance.
Zurich to spend up to £702m on US agricultural insurer
Zurich's subsidiary, Zurich American Insurance Company, will buy US agricultural insurer Rural Community Insurance Services for up to $1.05bn (£702m) from Wells Fargo, which will strengthen its top five position in US commercial insurance.
High Court PI claims at a five year high, law firm finds
The number of personal injury claims at the High Court has reached its highest level in five years, according to figures obtained by law firm Nockolds.
ABI reassures policyholders they will not be affected by SII
UK insurers are well-prepared for the implementation of Solvency II capital rules on 1 January 2016, according to the Association of British Insurers, which has assured policyholders they will not notice any changes under the new scheme.
Two nominees for Zurich board announced
Zurich has proposed two new board members for election including former Standard Life CEO David Nish.
Quiz of the week - 18 December
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Major motor fraud ring in Wales busted by police
An investigation into a major crash-for-cash ring in Wales has led to 81 convictions, including some with substantial jail time, in the largest police operation into insurance fraud undertaken to date.
Fitch downgrades French non-life sector forecast
The French non-life insurance sector has seen a revised outlook to negative from Fitch Ratings, moving the sector from its previously stable rating.
Besso secures Clydesdale Bank funding
Besso has secured funding from Clydesdale Bank to support its growth strategy and build-out its expansion into new regions.
QBE succeeds in £500,000 contempt of court action
QBE has won a £500,000 contempt of court action against a customer, who was sentenced to an immediate three month custodial sentence on 15 December.
New CEO for Nordics, Russia and Turkey at AGCS
Peter Hecht-Hansen has been appointed CEO of Nordics, Russia & Turkey at Allianz Global Corporate & Specialty, subject to regulatory approval.
BLM becomes ABI’s first associate member
Law firm BLM has become the Association of British Insurers’ first associate member.
The Standard Syndicate increases reach Scandinavia
The Standard Syndicate 1884 has extended its distribution into Scandinavia, appointing Hydor AS as a Lloyd’s coverholder.
RSA lands Nationwide account from DLG
RSA will take over from Direct Line Group as underwriter for all of Nationwide’s home insurance products from 2017.