News
Axa calls on residents to insure expensive gadgets
Research conducted by Axa has revealed that the average UK home now contains £5 218 worth of gadgets, leading company bosses to call on homeowners to insure their valuables.
Biba appoints new LMRC chairman
The British Insurance Brokers’ Association has appointed Tim Coles, chief executive of Howden Broking Group as the new chairman of its London Market Region Committee with immediate effect.
Earthquake hits India
A magnitude 6.9 earthquake occurred in the region of Sikkim, India, on 18 September.
Legal expenses market unclear
The International Underwriting Association has urged insurers to review their liability products in light of a vast increase in potential legal costs arising from corporate manslaughter prosecutions.
Tawa, Skuld and Paraline combine forces to acquire Whittington UK
A consortium comprised of Tawa, Skuld, and Paraline Group have confirmed a definitive agreement to acquire Whittington Insurance Markets.
Piracy attacks have lower success rates finds Aon
There has been an increase in overall piracy activity but a general decline in successful attacks on vessels over the last year according to a new report.
Vienna Insurance Group appoints chairwoman to the board
The Supervisory Board of Donau Versicherung AG Vienna Insurance Group has appointed Johanna Stefan to the positions of chairwoman of the managing board and general manager, with effect from 1 June 2012.
LV expands staff training initiatives
LV employees are expected to embark on a skills development training initiative following the success of the firm’s recently launched Broker Academy.
FSA takes too long over permissions, RPC lawyers warn
The length of time it takes the FSA to grant financial services firms permission to expand their businesses has increased by 10% in the last year, says City law firm Reynolds Porter Chamberlain.
Belfor drops Relectronic name
Belfor Relectronic has dropped the Relectronic name it acquired since taking over Relectronic Remech in 2001.
Nicholson to chair Liberty Syndicates
Liberty Syndicates Management, part of Liberty Mutual, has appointed Keith Nicholson as non-executive chairman.
Aon says pirates now have less success
Aon Risk Solutions’ first in-depth piracy report for ship owners worldwide says that although piracy is increasing, successful hijacks are on the decline.
UKGI lands ten more members in push for growth
UKGI has signed up ten new members after a push for growth during the summer.
Insurance Insight weekly update is now live
Insurance Insight’s weekly update is live featuring a Q&A with CED Ceo Stef Witteveen: and a View from the Top from FERMA vice president Julia Graham.
Tokio Marine Europe names consultant risk engineer for North-west England
Tokio Marine Europe has appointed Paul Naylor as a consultant risk engineer to help service the commercial insurer’s portfolio of clients in the North-west of England.
Service quality poll result
Find out what the industry made of the S&P research showing less than a quarter of insurance buyers would switch to a broker with a lower quality service even for 20% less premiums.
RSA insists adding to claims is “legal”
RSA has insisted its use of a wholly-owned subsidiary to increase the prices of motor accident repairs charged to rival firms is lawful.
Ken Livingstone to open the British Insurance Summit
Former London Mayor Ken Livingstone will deliver the opening address at this month’s British Insurance Summit, Postonline can reveal.
Arc Legal signs Insure for Retirement deal
Legal expenses insurer Arc Legal Assistance has signed a six figure deal to provide cover for policyholders with over 50s specialist Insure for Retirement.
Crawford shakes up management team
As part of the changes Benedict Burke will be moving from his role as CEO, UK and Ireland.
Jubilee celebrates Pearce’s move
Specialist Lloyd’s insurer Jubilee has poached Philip Pearce from AMTrust International Underwriters to be underwriter in its expanding affinity and special risks team.
AIR cuts loss estimates for Irene
Catastrophe modelling firm AIR Worldwide has cut its industry insured loss estimates for Hurricane Irene’s impact in the Bahamas to between $200m $400m (previously $300m to $700m).
RSA’s enhanced motor claims add 25%
Britain’s fourth biggest motor insurer RSA stands accused by a county court judge of artificially inflating repair costs charged to other insurers by more than £2.4m.
Oxford Insurance Brokers moves to London
Oxford Insurance Brokers has transferred Alwen Hough Johnson special lines team and existing portfolio of business to its London office on Lombard Street.