News
Concordia-style ship groundings top industrial cover losses
Ship groundings like that of the Costa Concordia represent the largest total value of insured loss over the last four years, according to figures from Allianz Global Corporate & Specialty.
Solvency II capital requirements prove too onerous for Gibraltar‑based firms
Smaller motor insurers line up to leave market as EU capital‑raising measures loom
Insurers to feel due diligence strain if trade sanctions against Russia broaden
EU’s new list of sanctions is on hold while Russia and Ukraine ceasefire is in place
Unrated insurers set for reduced share of solictors’ PI market as renewals loom
Law firms becoming ‘increasingly aware of unrated security issues’
Sarah Bill’s worth called into question by claimant and defendant lawyers
‘Ambiguous wording’ cited among major qualms with draft legislation
Claims Club News: Insurers warned that independent Scotland would hit them in the pocket
An independent Scotland would cost insurers more in claims, according to BTO’s insurance group head Bill Speirs, who maintains that proposals to increase earnings north of the border will impact reserves.
Go Compare sees turnover rise 4.6%
Aggregator Go Compare has reported a 4.6% increase in turnover for the year ended 31 December 2013 to £109.9m (2012: £105.1m).
Aon unveils syndicate-backed professional indemnity facility
Aon has launched a new professional indemnity product with the backing of Lloyd’s syndicates including Novae and Argo.
Ageas boosts personal accident cover for SMEs
Ageas has made several changes to the cover offered under its personal accident policy for SMEs including an increase in cover for funeral and medical expenses.
City lawyer targets SMEs as he launches 'first' dedicated IP broker
City-based intellectual property lawyer David Bloom has launched what claims to be the UK’s first dedicated intellectual property insurance broker.
Chubb promotes Rehman to Europe CEO
Chubb Insurance has appointed Jalil Rehman as chief executive of its European business.
Bluefin grows Bournemouth branch with four hires
Bluefin has appointed a team leader, an account executive and two account handlers to its Bournemouth branch.
Gallagher Partnerships MD Sanderson exits
Arthur J Gallagher has confirmed Partnerships' managing director Alan Sanderson is to leave the business for an external opportunity.
Pioneer poaches Travelers FI boss for new product launch
Minova-owned managing general agent Pioneer Underwriting has recruited Travelers’ product manager for financial institutions as it seeks to launch its own FI range.
RSA's Kneafsey teams up with ex-boss Haste at Wonga
Wonga chairman Andy Haste has hired RSA’s director of SME and delegated business Tara Kneafsey as UK managing director for the payday lender’s UK consumer loans business.
Catlin-bound Greensmith replaced by Robinson at RSA
RSA’s global specialty lines director for the UK and Western Europe Paul Greensmith has moved to Catlin Group where he will take on the role of chief underwriting officer for insurance at the firm’s London underwriting hub.
XL swoops for AIG's Latham to head up captive programmes
XL Group has moved to bolster its captive offering with the appointment of Matthew Latham as head of captive programmes.
GAB Robins recruits BLM's Doolan to lead London Market development
GAB Robins has recruited from law firm BLM for a new head of London Market, Post can reveal.
Claims Club News: UK firms told to keep an eye on Ireland for PPO regime improvements
UK insurers hoping to see improvements in the periodical payment order regime should carefully monitor a review of PPOs taking place in the Republic of Ireland, according to BLM partner Joe Wakeford.
Claims Club News: FCA putting spotlight on commercial cover
The Financial Conduct Authority is likely to raise the stakes on insurers by increasing scrutiny on whether the products customers buy are fit for purpose, amid a “philosophical shift” by the regulator.
German insurers pay out record claims for 2013
Germany’s non-life insurers settled €50bn in claims over 2013, the highest recorded total for a twelve month period.
Industrial deafness ‘the new cash cow’ says ABI
Claimant lawyers and claims management companies are increasingly exploiting industrial deafness claims for maximum cash settlements, according to the Association of British Insurers.
Quindell wins uncontested Gotham City libel case
Quindell has announced victory in a libel case against Gotham City after the latter failed to defend claims a research note was defamatory.
5% reduction would make home cover unprofitable says O'Roarke
Reductions of just 5% in the cost of home insurance could render the line unprofitable for many insurers according to LV’s general insurance managing director John O’Roarke.