News
Queensland to spend A$51m on disaster mitigation
Insurance Council of Australia welcomes Australian state's spending on disaster mitigation but criticises stamp duty policy.
Broker estimates potential aquaculture insurance premiums at $3bn
A senior broker estimates the fish farming or aquaculture insurance market could be worth as much as half of the $6bn Chinese agriculture insurance market.
Warning over ride-sharing in Australia
The Insurance Council of Australia is urging Australians to be aware of the potential impact car ride-sharing services might have on their motor vehicle insurance.
Oliver steps down as CEO of Parabis
Parabis Group has no immediate plans to appoint a successor to outgoing chief executive Tim Oliver, who is to become deputy chairman and take on a new non-executive board role.
Capital Z deal tees up potential acquisitions as BMS is renamed Minova
BMS Associates has been renamed Minova Insurance following the completion of £30m of investment by private equity firm Capital Z.
FCA sharpens focus on wholesale market
Financial Conduct Authority chief executive Martin Wheatley today emphasised the regulator's shift in focus to the commercial insurance market.
Lockton snaps up Motorsport specialist
Broker Lockton has completed the acquisition of Leeds-based motorsport broker, MIS Motorsport.
IIG to offer rated solution to brokers placing demolition risks
Incorporated Insurance Group has launched a demolition contractors’ liability scheme in a bid to support brokers who have previously been forced to delve into unrated markets.
Markel hires Apple's global business intelligence manager
Markel International has appointed Neil Winters as head of information management and application services.
VIG buys Polish life insurer
Austrian composite Vienna Insurance Group has completed a deal to acquire Polish life insurer Skandia Zycie.
Aon Benfield senior broker Willmont joins Canopius
Canopius has appointed Sarah Willmont from Aon Benfield to take on the position of deputy divisional underwriter for its property treaty division.
Flash flooding frequency to increase with climate change
The UK faces the prospect of much more frequent flash flooding during the summer months as a result of climate change, according to a study published in the journal Nature Climate Change.
Lloyd's mulls move from Rogers building over design 'frustrations'
Lloyd's of London could leave its iconic Richard Rogers-designed premises because of frustrations with its design, according to reports.
PRA releases supervisory statements aimed at insurers
The Prudential Regulation Authority today issued two supervisory statements aimed at insurers as the Bank of England continues its focus on activity in the industry.
Towergate Q1 losses increase to £27m
Towergate has seen made an expanded pre-tax loss of £26.6m for the first three months of the year, up 41% from last year’s equivalent figure of £18.9m.
65 roles at risk as DAC Beachcroft shuts Manchester office
DAC Beachcroft’s claims validation team is to vacate its Manchester-based office in a move that will put around 65 jobs at risk.
Foil calls for Ifed to expand into the north to tackle rising fraud
Figures produced by the Association of British Insurers stating that detected fraud is at a record high has led to calls for the Insurance Fraud Enforcement Department to expand its presence, including the creation of an operational base in the north of…
National Accident Helpline enters London Stock Exchange
Shares in claims management firm National Accident Helpline have begun trading on the London Stock Exchange’s AIM market.
TV fraud on the rise in lead-up to sporting summer warns VFM
Insurers must be on the alert over the next couple of months, as fraudulent claims for televisions have risen significantly in the run up to this year’s sporting summer, counter-fraud Specialist, VFM Services, has warned.
Ageas moves retail brands to CDL Strata
Ageas is moving all of its personal lines retail brands to software provider CDL's Strata product.
Esure IPO highlights UK prominence in private equity domain
The UK has asserted itself as a key market for private equity activity, according to a study by international law firm White & Chase.
Profits climb at three largest Japanese general insurers
Japan's three largest general insurers have all reported a healthy increase in profits for the year ending 31 March 2014.
Balkans flooding to cost billions of euros
The European Bank for Reconstruction and Development estimates the cost of damage as the result of horrific flooding will be well over €2bn.
Cost of fraudulent claims rose by 18% in 2013, says ABI
The value of fraudulent insurance claims uncovered by insurers rose to a record £1.3bn in 2013, up 18% on the previous year, according to the Association of British Insurers.