News
Pembroke protects artworks from political risk
Fine art and collectable valuables could be protected from seizure and other losses due to political acts through a new product issued by Ironshore International.
XL Catlin's Foster joins Pioneer
Pioneer Underwriters has appointed David Foster as group chief financial officer.
Aon and Scor develop French flood model
Aon Benfield has developed a French flood scenario model in partnership with reinsurer Scor to better prepare for the potential cost of a flood impacting the country's major cities.
Oric records 2014 operational loss events cost £301m
Members of operational risk group Oric International submitted 884 loss events during 2014 with a total value of £301m.
Hiscox opens £19m York office
Hiscox has today (2 December) opened its office in York, a £19m investment.
Hong Kong investigates claims database
The Hong Kong Federation of Insurers has set-up a provisional board to investigate establishing a claims database for Hong Kong.
Gallagher buys in New Zealand
Arthur J Gallagher has bought Timaru-based broker Reid Manson in New Zealand for an undisclosed sum.
Penny Black's Insurance week - 3 December 2015
We recently heard why robbers shouldn’t target any insurer’s chief digital officers as they are likely to be caught on camera by high tech gadgets.
County acquires Heath Insurance Services
The County Group has acquired Knutsford-based broker Heath Insurance Services, which has a gross premium income of £1.4m.
Management changes for Ageas Retail and Partnerships
Ageas has announced several key moves across the business in its retail and partnerships divisions.
Aviva augments wholesale ambitions with Lloyd's trading location
Aviva is to open an office adjacent to Lloyd's to bring its underwriters closer to brokers in the international wholesale arena.
Marsh completes Jelf acquisition
Marsh has completed its acquisition of Jelf after the deal was approved by regulatory authorities and Jelf's shareholders.
FCA posts alert about unauthorised insurer
The Financial Conduct Authority has issued a warning about an unauthorised insurance company, AJ Cox Insurance.
Reserving certainty a fillip for insurers in Enterprise Bill amendment
A proposed amendment to the Enterprise Bill under consideration by the House of Lords is being championed as giving insurers more certainty around reserving for damages relating to late claim payments.
Career development: Microfinance drives surge in financial inclusion
Research has found both microfinance providers and mobile carriers are driving a surge in financial inclusion for the unbanked populace in developing nations, through the provision of sophisticated mobile finance services.
Career file: Ian Muress: Expanded role for Muress as Crawford restructures
Crawford Europe, Middle East, Africa and Asia Pacific CEO Ian Muress is to take on additional responsibility for Canada and Latin America after being named international operations CEO as part of a group-wide restructure.
Market Moves - 3 December 2015
All the movers and shakers in the market
Uptick in CMC activity predicted as insurers eye long-term motor rate reductions
Insurers have widely committed to pass on savings set to flow from the government’s heightened whiplash reforms, despite a predicted surge of activity among claims management companies in the interim period.
Industry disputes claimant solicitor criticism of move to 'care, not cash' claims model
Criticism of the government’s acceleration of personal injury reforms in the motor market by the claimant legal fraternity has been dismissed by the wider insurance industry, which has welcomed a shift in claims from cash to care.
Cyber and economy increasing concerns in financial system risk
Economic downturn, cyber attack and geopolitical risk pose the most concern for the UK’s financial system, according to the Bank of England’s biannual systemic risk survey.
Axa increases stake in Indian joint ventures to 49%
Taking advantage of new regulations Axa has increased its stake from 26% to 49% in Bharti Axa General Insurance and Bharti Axa Life Insurance.
Career File: Senn steps down as Zurich's global CEO
Martin Senn, Zurich's global CEO, has reached an agreement with Zurich's board to leave the company.
Zurich commits to general insurance in Singapore after life exit
From today Zurich will not accept any more life insurance policy applications in Singapore.
Product disclosure statements are too long and complex, says ICA
An Insurance Council of Australia taskforce has made 16 key recommendations to improve Australia's insurers' product explanations to customers.