News
Editor's comment: Quotas quickly quashed
Having responded to Business Secretary Vince Cable’s call to take the lead in addressing the gender imbalance on company boards, the insurance industry has resoundingly rejected the notion of quotas as a mechanism to tackle this persistent problem.
New Zealand faces mass withdrawal as earthquake claims stack up
Insurers and reinsurers could stop providing earthquake cover in New Zealand altogether, forcing its government to handle claims.
Axa wins multi-year commercial deal from Aviva
Axa Commercial Lines has taken a strategic step towards its £1.2bn GWP target by winning a three-year deal from Aviva, the incumbent insurer of 25 years, for commercial property owners, Bruntwood.
Focus on personal injury fraud means insurers missing the bigger picture
Law firm Beachcroft has warned that insurers are so focused on personal injury fraud they are missing large-scale credit hire scams.
Ace heralds international efforts as fraudster jailed
Ace Europe has trumpeted its international claims investigation system, following the conviction of fraudster Anthony McErlean, who was jailed last week for attempting to claim £520 000 from the insurer after faking his own death.
Axa Assistance eyes £40m target with launch of Rok replacement service
Axa Assistance has launched its own home emergency service, spurred on by the demise of Rok Insurance Services, in a bid to gain greater control over customer service.
Davies and Electra to head out on acquisition trail
The bosses responsible for acquiring claims management firm Davies last week, in a £60m deal, have vowed to pursue further growth with a variety of acquisition targets.
Airmic set to work with XL and industry on refined non-disclosure clause
Airmic’s non-disclosure clause, launched in a flurry of publicity in June, has kick-started a debate that could see it replaced by one drawn up by XL Insurance.
Staddon resurfaces at motorcycle specialist Devitt
Former British Insurance Brokers’ Association boss Peter Staddon has vowed to make Devitt “a force to be reckoned with” after joining as personal lines executive director.
Straw to meet broker groups to discuss referral fees issue
Brokerbility has secured a meeting with Labour MP for Blackburn Jack Straw, pictured, next month in a bid to give him an industry perspective on referral fees.
BIS 2011: Underwriting no longer the preserve of Oxbridge grads
The future of underwriting rests in the hands of graduates with strong numeracy skills and business understanding, who are willing to embrace specialist areas of the industry.
BIS 2011: Industry must up government lobbying or risk unsustainable losses
Stronger engagement with national governments is essential to overcome the current insufficient focus on natural disaster mitigation and to push through long-term reforms that will help reduce total event cost.
News analysis: Quota calls for female board membership met with sharp scepticism
Stronger female representation on company boards is one of the recommendations laid down by the Association of British Insurers last week, in its first report on board effectiveness
BIS 2011: Warning over reliability of public information
“It is a danger to rely on publicly available information” the insurance industry has been warned.
BIS 2011: Indebted firms face refinancing battle
Brokers could be facing a “refinancing battle” over the coming years, according to an insurance banking expert who has issued a stark warning to heavily indebted businesses.
BIS 2011: ‘Sexy data’ set to change insurance industry
Delegates at the British Insurance Summit were told in no uncertain terms that technology and social media are here to stay and were urged to be a part of it.
BIS 2011: RBSI boss: telematics could create insurance underclass
Young drivers represent a huge reputational risk to insurers and telematics could create an uninsurable motor underclass unless the industry addresses urgent questions on data standards and ownership.
Zurich closes Santander acquisition
Zurich Financial Services Group has closed the acquisition of 51% participation in general insurance, life insurance and pension operations of Santander in Brazil and Argentina.
LV fraud boss issues warning as family receive jail time
The head of financial crime at LV insists that fraudulent claims are a growing problem for insurers, after a company investigation which resulted in a family of three being jailed for a combined 12 months.
Loss adjusting panel to review riot claims for Met
The Metropolitan Police Authority has been forced to appoint a panel of loss adjusting firms to advise on riot-related claims.
NZ faces mass withdrawal as earthquake claims stack up – Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including the possibility that insurers and reinsurers could stop providing earthquake cover in New Zealand altogether, forcing its government to handle claims.
Ferma 2011: Contractors looking beyond Europe for infrastructure projects, JLT warns
Slower deal flow in Europe means contractors are looking further a field for projects but growth economies create different risk challenges JLT has warned.
Vienna Insurance merges Bulstrad and Bulgarski Imoti
The Vienna Insurance Group plans to merge its two non-life insurance subsidiaries Bulstard and Bulgarski Imoti in order to strengthen its market presence in Bulgaria and make better use of synergies.
Irish Legal Services Regulation Bill approved
The Minister for Justice, Equality and Defence, Alan Shatter, TD, has secured government approval for the publication of the new Legal Services Regulation Bill.