News
Markel liability boss defends scope of D&O cover amid calls for reform
Markel International’s head of management liability risks has stated that defence costs are covered “in almost all situations”, following calls by the Institute of Directors for liability insurance reform.
Aviva staff could lose bonuses under cost cutting plans
Employees of Aviva may have their bonuses withheld this year unless cost cutting targets are met, reports suggest.
Claims handler sentenced for €45 000 fraud
A Welsh insurance claims handler was jailed for 17 months on Friday after stealing €45 000 from his employer to settle pay-day loans and drug debts.
IUA establishes Political Risk Committee
The International Underwriting Association has created a new London market Political Risk Committee comprising underwriting and claims representatives from across the association’s member companies.
CII: Data protection hindering fraud fight
The industry's attempts to work together to combat fraud are being hampered by the Data Protection Act, the Chartered Insurance Institute has claimed.
Guernsey issues licences to 46 international insurers in first half of 2013
The Guernsey Financial Services Commission licensed 46 international insurers in the first half of 2013.
Guernsey issues licences to 46 international insurers in first half of 2013
The Guernsey Financial Services Commission licensed 46 international insurers in the first half of 2013.
Covéa appoints Owen to newly-created post
Covéa Insurance has named Maureen Owen head of regions for the North.
Evolution Underwriting names new sales co-ordinator
Evolution Underwriting has promoted Michelle Buckley-Clarke to the newly created role of sales co-ordinator.
Claims handler jailed for £39 000 fraud
A Welsh insurance claims handler was jailed for 17 months on Friday 2 August 2013 after stealing £39 000 from his employer to settle pay-day loans and drug debts.
Insurers predicted to top banks in infrastructure investment
Legal and General is predicting insurers and pension funds will be funding UK infrastructure investments in the next 10 years – not banks.
Earthquake strikes Japan; no damage reported
A magnitude 6.0 earthquake struck off the coast of Japan yesterday (4 August) but there was no reports of damage.
Huge reinsurance growth potential in Asia, says Fitch
Global ratings agency Fitch believes there is significant room for the reinsurance market in Asia to grow given relatively low insurance penetration in Asian markets.
CIRC confirms end to life insurance interest rate cap
China's Insurance Regulatory Commission has confirmed the end to the 2.5% cap on interest rate for standard life policies.
DLG wants commercial book COR to break even in 2014
Direct Line Group is aiming to improve its commercial book combined ratio to 100% in 2014, chief executive Paul Geddes told Post today.
ABI backs Home Office calls for regulation of private investigators
The Association of British Insurers has thrown its weight behind a Home Office initiative that intends to bring about the regulation of the private investigation industry.
Motor insurers overestimating Laspo benefits says Dye
Insurers are overestimating the savings likely to be achieved following the introduction of Legal Aid, Sentencing and Punishment of Offenders Act, Allianz UK chief executive Jon Dye said today.
Ageas UK boss Watson optimistic despite limited H1 profit growth
Ageas UK chief executive Andy Watson has told Post the insurer’s H1 results are in line with expectations, in spite of net profit growth almost entirely driven by the integration of Groupama.
S&P casts doubt on 2016 Solvency II implementation
An examination of the European Insurance and Occupational Pensions Authority’s assessment of the future of Solvency II by Standard & Poor’s has led to claims that “numerous hurdles remain” ahead of a planned 2016 implementation.
S&P highlights 'hurdles' in race towards Solvency II implementation
Standard & Poor’s has cast doubt on a planned 2016 implementation of Solvency II after claiming that “numerous hurdles remain” in the race to introduce the regulation.
Bluefin hires Marsh regional development director Phillips
Bluefin has appointed Rachel Phillips as business development and proposition director for its corporate division.
Tropical storm Jebi causes airport and shipping disruption in China
About 5 000 tourists have been stranded at an airport in south China's Hainan Province due to the arrival of strong tropical storm Jebi.
Simon Philpin joins Equinox Global
Equinox Global has appointed Simon Philpin as London-based senior credit analyst based.
Allianz posts 95.7% combined ratio for H1
Allianz achieved a combined ratio of 95.7% for the first half of 2013, down from 96.8% in the first six months of 2012.