News
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.
Grant Thornton insurance chair exits after three months
Grant Thornton’s UK insurance boss Craig Scarr has exited the business just over three months after being recruited from Mazars.
RSA plotting £150m savings drive
RSA will seek to scythe away almost 10% of its £2bn annual costs as part of a savings drive by chief executive Stephen Hester, according to the Financial Times.
Homeserve UK making 'solid progress'
Homeserve has said its UK business set to achieve targets on new customers and customer retention just months after revealing its profits had halved over three years
Allianz is leading reinsurer for crashed Malaysian plane
Allianz Global Corporate and Specialty is the lead hull and liability reinsurer for the crashed Malaysia Airlines Boeing 777 flight MH17.
173 Dutch nationals thought dead on stricken Malaysian plane
Out of 283 passengers and 15 crew on board flight MH17, a crashed Malaysia Airlines Boeing 777, 173 were Dutch nationals according to reports.
China issues red warning as Typhoon Ramassun approaches
China has issued its strongest typhoon warning - red - as Typhoon Ramassun approached South China on Friday morning.
Biba heralds 'transparent' Insurance Bill
The British Insurance Brokers’ Association has welcomed the introduction of the Insurance Bill as a means of increasing “certainty over the rules” on contracts between insurers and businesses.
Malaysia Airlines plane 'shot down' on Ukraine-Russia border
A Malaysia Airlines passenger jet carrying 298 people has crashed on the Ukraine-Russia border, according to Russian news agency Interfax.
Cross-border mergers authorised between UK and Gibraltar insurers
The Gibraltar government today confirmed that it had received written confirmation from the UK Treasury, for Part VII transfers to go ahead.
FCA to publish whistleblowing guide
Financial Conduct Authority chief executive Martin Wheatley has confirmed the watchdog will be publishing a guide to whistleblowing but has dismissed claims it is part of the regulator's thematic projects.
Treasury unveils final Insurance Bill
HM Treasury has today introduced the long-awaited Insurance Bill to reform commercial contracts, and better equip UK firms to compete against their international peers.
Zurich promotes Cohen to head of GI customer and distribution
Zurich has promoted Patrick Cohen to become head of customer and distribution for its general insurance business.