News
Prime grows Leeds office
Prime Professions, has appointed Michael Eardley, a new associate director in the Leeds office.
Government cat fund for Thailand
A £1bn Thai catastrophe fund is to be set up by the local government to provide cover for households, small to medium sized enterprises and industrial factories against floods, wind storms and earthquakes.
RBSI “regret” findings of FSA investigation
In a statement issued in response to the news that the Financial Services Authority has fined the company £2.17m, RBS Insurance said that it was “disappointed” that it did not meet FSA standards.
Direct Line and Churchill hit with £2.17m FSA fine
The Financial Services Authority has imposed a £2.17m fine for failure by RBS owned Direct Line and Churchill to conduct their businesses with “due skill, care and diligence”.
Fraud unit makes further arrests
The insurance fraud police unit has made a further five arrests - less than a month since its launch.
Solvency II capital proposals bad for captives, says Fitch
The latest QIS5 Solvency II regulatory capital proposals could significantly increase the capital and compliance burden of the European captive market, according to a report by ratings agency Fitch.
Mapfre, Generali and CCR downgraded following sovereigns
A raft of European insurers including Italy-based Generali and Spanish insurer Mapfre were downgraded by Standard and Poor’s yesterday.
Questgates goes for gold with Olympics mitigation plan
Questgates is preparing for the Olympics and Paralympics with a raft of measures designed to mitigate the risk of any negative impact on its services resulting from the games.
Munich Re launches green energy risk cover
Reinsurer Munich Re has launched a new insurance product which covers the risk borne by operators that solar module output may, in the course of time, fall below the level guaranteed by a manufacturer which can no longer be held liable under its…
Chartis re-jig creates three world regions
Chartis is splitting itself into three major geographic areas: the Americas; Asia; plus Europe, Middle East and Africa.
Industry needs to become more “active” or face further regulation
Speaking at a meeting of the All Party Parliamentary Group on Insurance and Financial Services, Jack Straw, said that insurers have to be more active in reforming the private motor market.
Companies still battling for "highly effective" ERM
Corporate leaders still have a long way to go to create an effective, risk-aware culture in their companies, according to research sponsored by Zurich.
Anti-metal theft bill debated this Friday
The full text of the private member’s bill to toughen the law on scrap metal dealers to cut the spate of metal theft has been published and will be debated on Friday.
Go Compare and Wunelli set to develop telematics aggregator
Go Compare has confirmed that it is looking at developing a telematics comparison service with Wunelli.
Travelers launches new PI products
Travelers has launched a new professional indemnity product offering aimed at the publishing and general media sectors.
Towergate hires ex-Paymentshield director
Towergate Insurance has appointed Neil Galjaard to the role of group change director.
Oval underwriting chief joins fellow ex-employees at BLG
Independent broker Building Land Guarantees has appointed former Oval latent defects underwriting boss Jon Cox as associate director.
PPI complaints soar
The Financial Ombudsman Service latest figures show that Payment Protection Insurance complaints for the final three months of last year reached 30 301.
Hyperion boss eyes market opportunities following year of growth
Hyperion is in prime position to target acquisitions and consider a stock market flotation after announcing organic growth of 18% last year.
UK General signs capacity deal with Ansvar
UK General has signed a new distribution deal with Ansvar.
Guernsey doubles new insurer licences
The Guernsey Financial Services Commission licensed 72 international insurers during 2011 - a 53% increase from the 47 approved during 2010.
Guernsey still top European domicile with 50% captive rise
The number of insurance licenses issued in Guernsey last year rose more than 50% compared to the previous 12 months.
Legal groups to fight Travelers PI refusal
The Law Society and the Solicitors Regulation Authority are to take on insurer Travelers over its aggregating of fraud claims and subsequent capping of a solicitors’ professional indemnity insurance policy.
BMW recalls Mini over water pump
BMW has issued a worldwide recall for 235 535 cars for two models from its iconic Mini range because of a suspect water pump that may cause fires.