News
Police stop one man’s three-year motor-fraud spree
Police in China finally caught up with a man who crashed a car on average every three days for almost three years as part of an insurance scam.
GIC Re launches hazard map after flooding “wake up call”
Devastating floods in the Indian state of Utterakhand has prompted Indian reinsurer GIC Re to unveil a new hazard map.
Government will step-in if Flood Re “runs out”
The insurance industry will not be responsible for recapitalising Flood Re in the event that it “runs out of money” following a one-in-200 year event, the Association of British Insurers has confirmed.
Low-levels of insurance could belie true cost of North-India flooding disaster
Uttarakhand now faces the challenge of settling the large number of claims likely to be filed in the wake of the devastating floods.
Indian insurance sector set for premium spike
Direct insurance premiums will climb 11% over the next four years according to Indian Chamber of Commerce president Rajiv Mundhra.
North West law firms feeling Laspo pinch, states report
More than 70% of the North West’s personal injury law firms claim that civil litigation reforms introduced in April are having a negative impact on their businesses, accrosing to a survey carried out by Liverpool-based firm O’Connors.
McLarens merges with agriculture specialist
International loss adjuster, McLarens said today it has merged with UK farming specialist Agrical for an undisclosed fee.
Growing threat of Egyption violence after Badie arrest
The potential for Islamic radicalization has increased following the military deposition of former leader Mohammed Morsi, Willis has warned.
Parabis Scotland hires McNaught as Edinburgh-based partner
Parabis Scotland has appointed defendant insurance lawyer Cameron McNaught as a partner in its newly-opened Edinburgh office.
Direct Line Group reaches settlement over Bethany Probert compensation claim
Direct Line Group has confirmed that it has reached a settlement in the high profile Bethany Probert case.
Air Asia to offer insurance products in India
Malaysian airline Air Asia is looking to expand its insurance products into India.
Crawford recruits from Zurich for UK field ops lead
Crawford has swooped for a new head of operations for its field adjusting team, recruiting from Zurich Municipal.
Industry alerted to upcoming changes to claims portal
The Ministry of Justice's claims portal may need to be replaced by another system depending on how further legislative changes around small claims play out.
Balva revealed as third biggest PI insurer
Balva was named as the third biggest professional indemnity insurer in the UK market this year in the Law Society’s Insurers’ Guide 2013-2014.
Sumatran earthquake unlikely to see significant insured losses
AIR Worldwide is not expecting significant insured losses following Tuesday’s magnitude 6.1 earthquake in Sumatra.
Estonian motor market to account for two-thirds of GI market by 2017
Estonia will see growth in its motor insurance market after a rise in car sales, according to a report into the sector.
Post Audio Supplement - 4 July 2013
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Incisive Media journalists recognised at industry awards
Journalists from Post and sister title Insurance Age won two categories and received three highly commended awards at the British Insurance Brokers' Association's 2013 journalist of the year awards.
Howden heads for Chile with broker stake
Hyperion-owned broker Howden has acquired a 25% holding in a Chilean broker.
CII launches apprenticeships manifesto
The Chartered Insurance Institute has launched a manifesto on the future of apprenticeships in insurance and financial services, calling for greater stability, clarity and a move-away from the “one-size-fits-all” mind-set.
THB boss Hawkes takes up NED role at IIRSM
THB UK and Cardinus Risk Management chief executive Andy Hawkes has been made a non-executive director of the International Institute of Risk and Safety Management.
Groupe Consultatif appoints former Aegon actuary as CEO
The Groupe Consultatif, the Actuarial Association of Europe, has appointed Ad Kok as its new chief executive officer starting on 1 September 2013.
Marsh issues warning over Brazil and Turkey unrest
Policyholders should be aware that market conditions could change rapidly if violence escalates in Brazil or Turkey, broker Marsh has warned.
Solvency II interim rules could worsen market fragmentation
Despite Eiopa’s proposed guidelines for interim measures, surveyed Member States are showing a strong preference for a second quick fix directive, postponing the full implementation of Solvency II towards as late as 2017.