News
Ex-Independent colleagues Rutter and Blakemore launch underwriting start-up
The former head of London market at Independent Insurance Keith Rutter has co-founded a start-up underwriting firm alongside his ex-Independent colleague John Blakemore.
Insurance Fraud Awards 2014: Shortlist revealed
Today Post is pleased to reveal the shortlist for the 2014 Insurance Fraud Awards.
Omdbudsman upheld fewer GI complaints in Q1
The Financial Services Ombudsman has resolved a smaller proportion of general insurance complaints in favour of consumers for the first quarter of 2014/15.
Underwriting hires in Miami aid Brit's regional platform expansion
Brit has bolstered its Miami-based Latin America and Caribbean platform with the addition of Carlos Becerra as vice president for underwriting and Jimena Salgado as an underwriter.
London market presence set to contract as Beazley targets US
Beazley is expecting continued growth in the US alongside a London market reduction after its US operation aided a 61% increase in group-wide profit before tax of $132.9m (£77.8m) in the opening six months of the year.
Rammasun kills over 100 as next typhoon forms
Typhoon Rammasun has killed 94 people in the Philippines and 33 in China with Typhoon Matmo following on its heels.
Sportscover makes double senior underwriting appointment
Sportscover Europe has appointed Simon Bowring and Gary Pigot as senior underwriters based in London.
Allianz offers first telematics product in BMW deal
Allianz Insurance is to provide insurance to motor manufactuer BMW’s i3 and i8 electric vehicles.
Atrium agrees to settle MH17 hull war loss
Atrium Syndicate 609 has confirmed it is the lead hull war policy insurer for Malaysia Airlines and has agreed to settle that aspect of the MH17 loss.
My Licence live on Open GI
Insurers can now access the My Licence hub through Open GI, with a number of panel insurers already signed up to the service.
Mactavish calls for contract legislation to clarify broker role
Insurance contracts legislation should include guidance on the role of brokers in overcoming contracting issues between insurers and their customers, insurance governance firm Mactavish has said.
Little Chef turnaround firm 'in talks' to buy Unipart Automotive
Venture capital firm R Capital is in talks to buy beleaguered motor repair firm Unipart Automotive, Post understands.
Ageas updates rating process for van product
Ageas has changed the rating process for its Van Guard product pricing policies on the individual circumstances of the customer rather than a postcode.
Treasury to unveil guide to investing in UK infrastructure
Insurance companies will be among financial services firms targeted by chief secretary to the Treasury Danny Alexander’s guide to investing in UK infrastructure.
Disputed commercial claims taking 35 months to settle
Disputed commercial claims are taking almost three years to settle on average, according to a study by insurance governance specialists Mactavish, with roughly half of claims being contended by insurers.
Banks off the hook as AIG recovers mortgage bond settlements
AIG is no longer expected to pursue further legal action against major banks after recovering more than $2bn (£1.17bn) in settlements over mortgage bonds that left the insurer on the brink of collapse.
Direct Group teams up with Autonet on accidental death product
Independent broker Autonet has appointed Direct Group to take over the provision of its accidental death insurance product following its launch earlier this month.
Hood Group partners with Asda on household product
Hood Group has been appointed by Asda to launch its home insurance product through Asda Money.
Quindell receives majority backing from shareholder group
The majority of Quindell Shareholder Action Group members maintain a positive outlook in terms of their investment in the outsourcer despite a recent drop in the firm’s share price.
Countries responsible for airspace safety, says Eurocontrol
Eurocontrol, a Brussels-based air safety organisation for Europe, said individual countries are responsible for airspace restrictions.
Met Office raises UK storm warnings
The Met Office has increased its severe weather warnings for parts of the UK this weekend, calling on residents and businesses to be prepared for disruption.
Sterling partners with Questgates on valuation service
Sterling has launched a new valuation service for commercial businesses managed by loss adjuster Questgates.
MH17 hull war losses unlikely to exceed 2001 Tamil Tigers attack
The costs of hull war risks emanating from the downing of Malaysia Airlines flight MH17 are not expected to exceed the $380m (£222m) losses following the 2001 Tamil Tigers attack on Sri Lanka’s Bandaranaike Airport, according to loss adjusting sources.
Hurricane Arthur losses less than £150m
Insured losses from Hurricane Arthur will not exceed $250m (£146m) according to a report from catastrophe modeller RMS.