News
Climate change framework sees increased support from insurers
Insurance leaders are mobilising to support a new framework to improve climate resilience, launched at this month’s United Nations Conference on Climate Change, or COP21, in Paris, with companies including XL Catlin already backing the plans with action…
Broker given 11-year directorship ban for mis-selling
The Insolvency Service has banned broker David Stuart Picton from acting as a director for 11 years for mis-selling insurance policies.
Una welcomes new member Centor
London-based Centor Insurance and Risk Management has joined Una, the organisation owned by 12 UK regional brokers.
Insurance industry praises flood defences as Cumbria faces second deluge in six years
Insured losses in Cumbria caused by Storm Desmond have been tipped to eclipse the £175m of claims from flooding in the area in 2009, but industry commentators have praised the mitigation impact of flood defences.
Serious motor claims costs rising as government looks to lower premiums
Motor insurers are facing increasing claims inflation on major injury claims, according to a report from the Institute and Faculty of Actuaries, which could affect future earnings forecasts.
Ironshore firming up presence in Europe
Ironshore International is expanding into Europe, opening an office in Cologne.
Broker apologises after Keswick resident faces claims handler 'unaware' of floods
Home Protect says it regrets the manner in which a call from a Keswick resident was handled after a staff member was unaware the area was affected by severe flooding over the weekend.
Six UK finalists in London start-up programme
Technology incubator Start-up Bootcamp has announced the 10 international start-ups that will join its London programme in 2016, including six from the UK.
Q&A video: implications of the Vnuk case on UK motor market
Following the European Court of Justice ruling in the UK government will very soon have to change the rules about what risks are covered by compulsory motor insurance law.
Mike Webb steps down as chairman of Horwich Farrelly
Insurance industry law firm Horwich Farrelly has announced its current chairman, Mike Webb, will be leaving his role at the end of 2015.
London companies back central placing process
The London company market has backed plans for a new electronic placement service, with the International Underwriting Association signing a statement of support for the project.
Storm Desmond insured losses could exceed 2009 Cumbria floods
Insured losses from Storm Desmond, which battered Cumbria on 5 and 6 December, could eclipse the £175m insured losses caused by flooding in the area in 2009, according to modelling firm RMS.
AIG sells $750m stake in China's PICC
AIG has sold a further share of its stake in China's largest general insurer PICC Property & Casualty.
Aviva prioritises digital tech with venture capital fund
Aviva will back new digital businesses with a venture capital programme, spending £20m a year for the next five years.
Claimant solicitor fees dispute awarded to Axa
Axa claims it has uncovered cases of exaggerated legal costs from claimant firm Asons, which the insurer has passed on to the Solicitors' Regulation Authority.
Aon appoints Tunnicliffe as UK risk management boss
Aon Risk Solutions has appointed Andrew Tunnicliffe as CEO of its UK operation replacing Jim Herbert who will take on the role of Europe, Middle East and Africa chief development officer.
Willis's Aubert to stand for Council of Lloyd's
Nicolas Aubert, CEO of Willis, is standing for election as a member of the Council of Lloyd’s.
Thompsons responds to insurer meeting on fraudulent solicitors
Claimant firm Thompsons Solicitors has accused insurers of "talking up a crisis" to suit their own agenda in relation to the amount of personal injury fraud reported by the industry.
Gauntlet Group launches network for small brokers
Leeds-based Gauntlet Group has launched a network offering smaller brokers services and market access.
Geography of Cumbria a hurdle for adjusters, Crawford says
Accessing flooded homes is the key priority for loss adjusters in the wake of Storm Desmond, which has caused widespread flooding in Cumbria and resulted in the death of one person.
Eighteenth acquisition for health consolidator Chase Templeton
Private medical insurance consolidator Chase Templeton has made its 18th deal for 2015, adding an extra £6.8m in annual premium income with the acquisition.
UPDATED: Sixteen severe flood warnings remain in place after Storm Desmond hits Cumbria
Sixteen severe flood warnings remain in place after Storm Desmond battered Cumbria on 5 and 6 December, with Carlisle, Keswick, Kendal and Cockermouth among the worst affected areas.
PRA approves 19 SII internal models
The Prudential Regulation Authority has approved the use of a full or partial internal model under the Solvency II Directive for 19 insurers for use from 1 January 2016.
ABI criticises FCA's late decision on complaints rules timeframes
The Association of British Insurers is disappointed the Financial Conduct Authority's amendment to the implementation date for changes to complaints handling and reporting processes, announced today (4 December), has come too late to avoid insurers…