News
Axa and QBE strike deals with HSBC for Asian and Central/South American P&C businesses
Axa and HSBC announced today they have entered into an agreement whereby the French insurance giant would acquire the bank’s property and casualty businesses in Hong Kong, Singapore and Mexico.
Fraud rises 70% in Indian general insurance
Indian insurance companies incurred losses of over Rs30,000 crore in 2011 due to fraudulent activity, according to a recent study by Pune-based firm Indiaforensic.
Willis China claims broker first in Chongqing
Willis China, part of Willis Group Holdings, has been granted approval to open a new office in Chongqing by the Chinese Insurance Regulatory Commission, which it claims is a first for a foreign-owned broker.
UK government flood cuts may see 'thousands' uninsurable
Thousands of UK businesses are at risk of becoming uninsurable inside three months if the government fails to meet the demands of disgruntled insurers.
CPS investigates 'fraudulent' Autofocus employees
The Crown Prosecution Service has confirmed it is examining the case of the seven Autofocus staff who allegedly doctored credit hire rate evidence.
UK Drainage Network scoops supply chain award
Independent drainage company the UK Drainage Network has received the Co-operative Insurance Claims Supplier of the Year and Supply Chain Collaboration awards at the RSA.
Insurers could do more to help space operators, says JLT
Space operators need the insurance community to step up and offer better solutions, according to Peter Elson, global head of space at broker JLT Specialty.
Broker Network directors 'not stepping down' despite Companies House listing
The Broker Network has dismissed concerns that five directors will be leaving the organisation after Companies House listings stated that a number of senior figures have had their 'appointments terminated'.
Ai Claims signs three-year deal with ULR
Accident management business Ai Claims Solutions has signed a three-year deal with ULR Additions for the provision of credit hire services.
QBE expands Dubai office capabilities
QBE's Dubai branch is now offering GAP insurance and auto extended warranty on a reinsurance basis to cedants dealing with auto dealers and banks operating in the GCC market.
QBE launches new motor products in Dubai
Business insurance specialist QBE has started offering Guaranteed Auto Protection insurance and auto extended warranty on a reinsurance basis for cedants dealing with auto dealers and banks within the GCC market.
FSA publishes guidance on PPI redress
The Financial Services Authority has published proposed guidance for firms that sold payment protection insurance and are beginning to contact customers who may have been mis-sold a policy but have yet to complain.
Watchdog set to probe KPMG over Equity Red Star audit
The Accountancy and Actuarial Discipline Board is investigating KPMG's auditing procedures of Lloyd's of London syndicate Equity Red Star.
Arch acquires Ariel Re's Zurich-based credit business
Arch Capital Group is to acquire Ariel Re's Credit & Surety reinsurance operations based in Zurich.
Management not measurement key in handling risk
Risk management has focused on the harnessing of technology for risk measurement rather than a deeper understanding of risk itself, according to recent research published by Towers Watson.
Brokers appeal to Emirates regulator over payments decision
The brokering community is believed to have approached the Emirates Insurance Authority for a reappraisal of its recent decision on how premium payments are collected.
Ferma membership up to 22 after Luxembourg association comes on board
The Federation of European Risk Management Associations has welcomed its newest member in the form of the Luxembourg risk management association, Professionals in Risk Management.
Swiss Re targets European marine with two new teams
Swiss Re Corporate Solutions has expanded its marine insurance footprint in Continental Europe through the formation of two dedicated underwriting teams in Zurich and Genoa, which will be led by Patrizia Kern-Ferretti and Andrea Cupido, respectively.
China's state-owned credit insurer warns of export risk
China's only export credit insurer has warned of increased short-term export credit risk for firms in the first quarter.
Ferma grows to 22 as Luxembourg joins
The Federation of European Risk Management Associations has grown its membership to 22 associations with the Luxembourg risk management association, Professionals in Risk Management.
Bahrain's financial sector sees 3% growth
The number of financial institutions registered in Bahrain rose again last year, reaching 415 by the end of January 2012, up from 403 a year earlier.
Government flood cuts could lead to 'thousands' of uninsurable businesses
Thousands of UK businesses are at risk of becoming uninsurable inside three months if the government fails to meet the demands of disgruntled insurers.
Insurers face up to $2bn tornado bill
Eqecat has estimated that the latest series of severe weather events in the US has produced $1bn to $2bn in insured losses.
Justice minister to act over PPI CMCs
The justice minister, Lord McNally, pictured, has agreed to meet consumer groups over on-going concerns about claims management firms ripping off customers mis-sold payment protection insurance.