News
Marsh forecasts 10% rate increases across Europe
European financial institutions can expect challenging conditions in 2013 amid ongoing concerns about the Eurozone and increased regulatory action, according to broker Marsh.
Ace reports 76% rise in net income
Ace has reported a 76% increase in net income to $2.71bn (£1.72bn) in 2012 compared to the previous year (2011: $1.54bn).
Loss adjuster launches live video reporting for surveyors
Northampton based loss adjuster SSL Claims has unveiled a new video capability for surveyors to stream claims visits online.
QBE Credit & Surety offers top-up cover for European firms
QBE has launched a top-up commercial credit insurance facility that operates above an existing, non-QBE, primary whole-turnover policy.
IFB hands head of operations Fletcher director role
The Insurance Fraud Bureau has appointed head of operations Ben Fletcher as director, with a remit to expand the bureau’s counter-fraud services.
AA predicts 2013 rise in home cover pricing
The AA has said that there has been little movement in home insurance pricing, but added that flooding and further extreme weather will likely see prices rise.
Half of insurers doubt effectiveness of social media marketing
Marketers in the insurance sector could inadvertently turn customers off by irritating them with their online behavior, according to a new study.
Delta Lloyd sounds warning note on regulation
Regulatory changes could threaten the economic recovery in the Netherlands, the chairman of Dutch insurer Delta Lloyd said yesterday.
2000 Queensland homes flooded
Flooding in eastern Australia has forced thousands of residents to evacuate their homes after ex-tropical cyclone Oswald coincided with a monsoon trough, an elongated area of low pressure that moved south along the Queensland coast into New South Wales.
Singapore consults industry on risk management guidelines
The Monetary Authority of Singapore has outlined enterprise risk management guidelines for the insurance industry as it works towards an end of year deadline.
IAG receives over 5000 claims from Australia floods
Insurance Australia Group's insurance businesses NRMA Insurance and CGU have received 5600 claims following damage from ex-tropical cyclone Oswald in Queensland and New South Wales.
Top 5 Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
Firm launches social media compliance tool for insurers
Many insurers are shying away from social media due to compliance fears, according to information capture and content management provider Integritie.
Risk costs could be cut by 50% in proposed EL/PL claims regime
Garwyn Group estimates that defendant’s risk costs could be reduced by half under the fixed costs scheme currently outlined.
Swinton and Esure owed over £1m by Drive Assist
Swinton and Esure are owed more than £1m each by failed credit hire company Drive Assist.
Pan-European insurance contract law a 'logistical minefield'
The principles behind a pan-European insurance contract law are sound, but any attempt to implement such a framework would be a logistical minefield, according to industry insiders.
Lyons Davidson rules out Admiral sale
Admiral is in negotiations over a non-exclusive collaboration with law firm Lyons Davidson, Post understands.
Top five European news stories
The top five stories from www.insuranceinsight.com over the past seven days.
Jubilee salutes regulators’ PPI guidance
RSG-owned Lloyd’s managing agent Jubilee has welcomed “badly needed” guidance from the Financial Services Authority and the Office of Fair Trading.
Only 16% of firms have dedicated CIO for cyber risk
Many European firms still do not devote sufficient attention to cyber risks, despite an increase in frequency, scope, and sophistication - and harsher penalties for lack of regulatory compliance and loss of sensitive data.
3i rumoured to be planning sale of Hyperion stake
Private equity firm 3i has refused to comment on fresh speculation that it is ready to sell its 23% stake in Hyperion.
LGTA could spell further delays for Solvency II
Trade body Insurance Europe has welcomed the launch by the European Insurance and Occupational Pensions Authority of an assessment to find the most appropriate treatment of long-term guarantees under Solvency II.
Aviva launches iPad app following broker feedback
Aviva has introduced an iPad app to its online trading platform Fast Trade, with a view to providing brokers with the facility to ‘quote and buy’ online in less than five minutes.
HGV ‘crash for cash’ fraudster jailed
A gang member who deliberately caused a crash with a heavy goods vehicle to make a fraudulent insurance claim has been jailed for a year.