News
Tawa acquires Chiltington
Run-off provider Tawa has entered into a share purchase agreement to acquire Hamberger Internationale Ruckversichrung, the holding company for the Chiltington group of companies.
Allianz and subsidiaries A+ rating affirmed
Allianz Societas Europea and a number of its subsidiaries have had their financial strength rating of A+ and issuer credit rating of AA confirmed by AM Best, despite the company’s high exposure to peripheral Eurozone sovereign credit risk.
MGAA officially launches with agents representing £1.25bn GWP
The Managing General Agents’ Association, a non-profit making organisation founded to represent UK Managing General Agents’, officially launched on the 1 September with an initial 40 full members underwriting approximately £1.25bn of GWP.
European insurance buyers rate specialist brokers for providing personalised service
European insurers buyers rate the 'big 3'brokers for their depth of resources and buying power, but it is the specialist brokers that are viewed as providing personalised service.
Reinsurers' capital recovers after cat losses
Total global reinsurer capital for the world’s 28 leading reinsurers has reached $445 according to the latest market figures.
Markel International A+ rating affirmed
Markel International Insurance Company and its syndicate 3000 have had their financial strength rating of A (Excellent) and issuer credit rating of a+ affirmed.
FM global updates policies ahead of renewal
Commercial property insurer FM global has launched an improvement to its the FM global advantage policy, which will be available to clients at renewal.
Biba calls for riot notification changes
The British Insurance Brokers’ Association has urged the government to change the Riot Damages Act notification period permanently from 14 to 42 days.
Reinsurers stage Q2 fightback following cat losses
Total global reinsurer capital reached $445bn at the end of June, according to an Aon Benfield report analyising the financial position of the world’s 28 leading reinsurers.
Prime Professions lands Law Society PII role
Prime Professions has been appointed to manage a Law Society scheme helping firms struggling to secure professional indemnity insurance.
Tweets of the week - 8 September 2011
Post highlights its favorite insurance Tweets of the week
Penny Black's insurance week - 8 September 2011
An opportunity to gawp at strapping sportsmen on a balmy Saturday afternoon is not the sort of invite Penny finds easy to turn down.
Costly referral fee ban rejected as claims firm details lobbying alternative
Ai Claims Solutions is set to lobby MPs with a four-point plan to reform the referral fees system in place of the "costly and timeconsuming legislation" of an outright ban.
Allianz motor engineer first female appointed to council
A female motor engineer from Allianz’s claims division has become the first woman ever to be appointed to the Institute of Automotive Engineer Assessors Council.
Tawa acquires Chiltington
Tawa has entered into a share purchase agreement to acquire Hamburger Internationale Ruckversicherung, the holding company for the Chiltington Group of companies.
OFT to give evidence in new motor insurance inquiry
The Office of Fair Trading has been called to give evidence into the cost of motor insurance inquiry.
Water claims firm alerts insurers to cowboy drainage contractor threat
Water claims firm Property Consortium Drainage has warned cowboy drainage firms could cost insurers dear when responsibility for drains switches from homeowners to water companies.
Questgates: UK corporates clamp down on fraud
Loss adjuster Questgates has witnessed an increase in high street businesses asking for help in determining if claims made by employees and clients are fraudulent.
No market swing despite cat loss accumulation
Loss adjuster Crawford & Company has already settled approximately $1.05m (£653 000) worth of losses from the “high frequency, low severity” claims resulting from Hurricane Irene.
Lloyd’s heading for tough times as catastrophe losses hit profits
Lloyd’s first half-year results will be adversely affected by this year’s “unprecedented” level of catastrophes and could see its combined operating ratio hit 100% for the first time in six years, according to market observers.
Liberty sets sights on ‘significant multiples’ of GWP
Liberty Mutual has doubled its gross written premium in UK commercial lines for the first half of the year, as it looks to open up a Leeds office.
Allianz: motor clients were assaulted during riots
Allianz motor insurance clients were car-jacked, threatened at knife point and, in some cases, assaulted when their vehicles were targeted by rioters last month.
Brokers witness unprecedented surge in riot-related demands for cover
Property insurance enquiries from businesses have soared by up to 200% in parts of London and Manchester following the riots, according to brokers based in some of the UK’s worst hit communities.
News analysis: Personal injury lawyers on the defensive over litigation claims
Allegations of inflated legal claims cost submissions have found backing from insurers