News
World Cup cancellation insured to the tune of £744m
The sum insured for cancelling the 2014 FIFA World Cup in Brazil has been estimated at $1.25bn (£744m) by specialist insurer Beazley.
Insurers recognise need for efficiency
Insurance executives have identified back office functions and claims as the top areas of their business where efficiency could improve, according to research from the EDM Group.
LMA's Gittings joins XIS board
Xchanging Insurance Services has appointed two new board members including Lloyd's Market Association chief executive David Gittings.
Equinox Global launches Dutch unit
Trade credit specialist Equinox Global has opened a new office in the Netherlands, helmed by a former Atradius special products head.
Bluefin hires Sherwood for Milton Keynes role
Bluefin has appointed Craig Sherwood as its Milton Keynes branch director.
Hood Group unveils travel insurance product
Affinity insurance provider Hood Group is aiming to replicate the success it has achieved in its home insurance partnership proposition with the launch of a new travel insurance product.
Motor insurers record first profit in 20 years, claims EY
The motor insurance market has recorded its first underwriting profit since 1994, according to figures released by EY this morning.
Chinese regulator advises insurers to keep business separate
The China Insurance Regulatory Commission has sent draft guidelines to insurance companies advising them to keep insurance and non-insurance business separate.
Quindell targeting premium listing 'as soon as practicable'
Quindell has stressed its commitment to a premium listing on the London Stock Exchange, pledging to update investors in the next ten days.
PPO injury research to help insurers with future risk
The Institute and Faculty of Actuaries has developed a new categorisation for serious spinal and brain injuries aimed at helping insurers better estimate future liabilities.
Over 20 killed in terrorist attack at Karachi airport
At least 20 people have been killed including 10 militants following a terrorist attack on Pakistan's busiest airport.
Fosun eyes stake in South Korea insurer
Chinese conglomerate Fosun has joined the race for a minority stake in South Korean property and casualty insurer LIG.
Marine insurers given more autonomy in Shanghai
The China Insurance Regulatory Commission is allowing marine insurers and reinsurers in Shanghai more autonomy via the Shanghai Institute of Marine Insurance.
Industry welcomes government fraud action
Insurers have welcomed government measures to tackle insurance fraud announced today by Justice Secretary Chris Grayling.
MoJ plans strike out legislation for fraudulent claims
The Ministry of Justice is to step up its fight against fraudulent insurance claims by introducing legislation to require courts to reject entire compensation claims where a claimant has been “fundamentally” dishonest.
Law Commission drops third-party fraud project from reform programme
The Law Commission has confirmed strike-out legislation relating to third-party fraud will not be included in its 12th programme of law reform.
MIB hails continuous motor cover rules for Northern Ireland
The Motor Insurers’ Bureau has welcomed plans to consult on the introduction of a continuous insurance enforcement scheme in Northern Ireland, bringing the country in line with England, Scotland and Wales.
LV Broker unveils property investor cover
LV Broker has revealed a new cover for clients with large property portfolios in a bid to grow its commercial property offering.
Biba concerned by riot damages cap
The British Insurance Brokers' Association has expressed concern over the suggested cap on claiming compensation proposed by government in its overhaul of the Riot (Damages) Act.
SSP launches behavioural anti-fraud weapons
Software specialist SSP has unveiled a new anti-fraud solution that will tackle crooks through behavioural analytics.
IUA backs government cyber risk project
The International Underwriting Association has backed a new government project to promote better management of cyber risk.
Shell oil plant explosion leaves two injured
Two people have been injured in a fire after an explosion at a Shell oil plant in the Netherlands on Wednesday.
Claims Awards 2014 - winners announced
Ageas scooped two individual awards at the 2014 Post Claims Awards held in London last night (5 June).
Division of claims complaints costs unfair First 4 Lawyers says
Ministry of Justice proposals on how the Legal Ombudsman's costs for handling complaints against claims management companies are recovered disproportionately penalises those working in personal injury, First 4 Lawyers says.