News
Chinese insurers might face downgrading, Moody’s warns
Chinese property and life insurance firms might see a credit downgrade in the next two years if car insurance and saving products remain as the main source of their income, rating agency Moody’s has warned.
Unrated insurer problems force SRA to reinvestigate stance on financial stability vetting
The Solicitors Regulation Authority is to re-investigate if it should introduce financial eligibility criteria following recent problems with unrated insurers including Quinn, Lemma and more recently Balva.
Timetric report predicts steady growth for Romanian insurers
Romania’s high road accident rate will increase personal accident insurance cover sold reaching 648 700 policies by 2017, a Timetric study has found.
SSP strengthens development team
SSP has made two appointments to its broker training and development team in a bid to offer additional technical and practical support.
Ferneyhough joins Brit as strategy director
Brit has appointed insurance analyst Joy Ferneyhough to the newly created role of director of strategy and corporate development.
Ace drops basis of contracts clause from UK policy wordings
Ace will remove the basis of contract clause from UK wordings issued under its European group stamp for new and renewed business following a wide-ranging review.
Deloitte and PwC welcome flood decision
Deloitte and PwC agree today’s agreement will benefit households at a high risk of flooding.
Biba and Kingsbridge offer PI scheme for freelancers
The British Insurance Brokers Association and Kingsbridge are offering professional indemnity cover for freelance professionals.
QBE aviation product gives extra $125m of cover
QBE has launched an aviation excess grounding liability product giving clients an additional $125m (£82m) of cover.
Jelf and Hiscox offer tailored insurance for interim managers
Jelf, Hiscox and the Interim Management Associationhave joined forces to offer interim managers access to tailored insurance packages.
Insurers back “first step” Flood Re announcement
The UK’s largest general insurers have expressed delight at the announcement of a deal on flooding cover for UK homes.
Air develops pandemic flu model
Air Worldwide has released a Pandemic Flu Model designed to capture the excess morbidity, mortality, and insurance losses caused by pandemic influenza.
Air launches pandemic flu model
Air Worldwide has released a Pandemic Flu Model designed to capture the excess morbidity, mortality, and insurance losses caused by pandemic influenza.
Property industry supports ‘long-awaited’ universal flood solution
The British Property Federation has welcomed the universal flood cover that the confirmation of a flood agreement between the insurance industry and government will bring.
17% of motor insurance queries online come from mobiles
17% of online motor insurance queries in May took place via mobile devices, according to figures compiled by Greenlight.
Canopius appoints Harvey to head up K Drewe Insurance Brokers
Canopius has named Roger Harvey managing director of its wholly owned subsidiary, K Drewe Insurance Brokers.
Government to extend regulatory powers over insurers and seek EC approval for Flood Re
The government is seeking new legal powers enabling it to force insurers to cover "their share" of policyholders living in high flood risk areas.
Ferma relaxes bylaws to accept international individual and corporate members
The Federation of European Risk Management Associations will accept individual and corporate members who have an interest in European risk management, following a change to its bylaws.
Mobile insurers tarnished by the few bad operators
Mobile insurers not acting in customers' best interests risk tarnishing the good name of the industry as a whole, according to Supercover Insurance.
Flood Re wins out as government and insurers reach long-term agreement
The government and insurance industry have reached a long-awaited agreement over the future of insurance for properties at risk of flooding when the Statement of Principles expires at the end of July.
UK General launches non-standard motor scheme
UK General has launched a non-standard motor scheme through Policy Shop, its first since announcing its partnership with Gibraltar-based Enterprise Insurance in May.
Some mobile phone insurance policies are poor and unclear says FCA
The Financial Conduct Authority has published a review into mobile insurance which found evidence or poor product design, unclear terms and inadequate claims and complaints handling.
Octo Telematics moves frontline operation from Rome to London
Italy-based telematics systems provider Octo Telematics has relocated its frontline operation from Rome to London in a bid to take advantage of opportunities in the burgeoning UK telematics market and to build stronger ties with both the insurance and…
Lonmar targeting new clients after doubling pre-tax profit
Lloyd’s broker Lonmar Global Risks boosted its pre-tax profit last year up to £3.62m from £1.68m in 2011.