News
Insurers rally to hail their technologies as Avantia claims flood risk first
The competition to get the upper hand in the use of sophisticated data to underwrite flood-prone properties has already started, as it seems increasingly unlikely the Statement of Principles will be renewed beyond June 2013.
FSA's 'twin peaks' transition model welcomed, but further clarity sought
The Financial Services Authority's decision to create a 'twin peaks' operating model to mirror the upcoming regulator has been hailed as a "chance to get it right for the future".
Ecclesiastical rolls out church alarms in crackdown on metal theft
Charity and heritage insurer Ecclesiastical is to spend £300 000 fitting wireless church roof alarms in every diocese in England and Wales after a successful initial pilot.
ELIB could materialise if ELTO is not a success
Claims Club members have expressed concerns that the Employers' Liability Insurance Bureau could be introduced if the Employers' Liability Trading Office is not an overriding success.
Government deregulation puts sprinkler legislation on back burner
Insurers have been told to prepare for government apathy over mandatory sprinklers legislation and, at best, expect piecemeal change.
Career development: LMA names apprenticeship winners
Lloyd’s Market Association has named the winners of its second Lloyd’s Market Academy apprenticeship programme.
Market moves: All change in the boardroom
Underwriters were the most active recruiters this week, with Ace leading the way with two major appointments. Meanwhile, Brit, Lloyd’s Channel Syndicate and Whittington Capital Management also added to their ranks. While the broking space was relatively…
RSA's Brown re-jigs top team to make business less 'complicated' to deal with
RSA’s UK and western European CEO Adrian Brown today outlined plans to simplify its business in order to get closer to its customers, whether brokers or consumers, having admitted that its structure may have previously been “too complicated”.
Homeserve to scrap 200 jobs
Home emergency business Homeserve is to axe 200 jobs due to dwindling customer demand.
Commercial offering could spark future acquisition interest, says One Answer Network boss
An increase in personal lines members alongside an added emphasis on establishing a commercial offering over the next 18 months could result in the One Answer Network becoming big enough to attract interest from potential buyers.
LFC Shield's Clayton quits agency
LFC Shield's underwriting director Simon Clayton has left the firm after four years.
Mapfre reports 15.5% premium growth for 2011
Spanish insurer Mapfre reported a 15.5% growth in premiums to €19,600.2m in its full year 2011 results released today.
Keelan Westall launches online property facility
UK wholesale property insurance broker Keelan Westall has launched a fully automated, web-based platform for residential property risks.
Arab Spring uprisings remain a 'key concern' for CEOs
Social tensions and public protests in counties affected by the Arab Spring remains a “key concern” for businesses operating within the nations impacted by the popular uprising, according to Aon’s 2012 political risk map.
Philippines quake: only 10% of damage insured
Economic losses from the magnitude 6.7 earthquake that struck the southern Philippines on Monday are estimated to be close to $1bn - but only a tenth of the damage is thought to insured.
Thatcham launches vehicle damage assessors apprenticeship
Thatcham’s Automotive Academy has teamed up with Institute of Automotive Engineer Assessors to launch the "first recognised" apprenticeship scheme for vehicle damage assessors in the UK.
Cuna launches free wage protection cover
Mutual insurance provider Cuna is to provide free wage protection to a million UK Credit Union members.
Arab Spring aftermath threatens businesses in the region
Protests and tensions in countries affected by the Arab Spring remain a concern for businesses operating in those nations, according to Aon’s 2012 Political Risk Map released today.
G Cube signs capacity deal with Munich Re
Renewable energy insurer G Cube has secured additional capacity from Munich Re to meet growing demand.
TomTom targets Europe with new telematics product
Dutch navigation systems maker TomTom NV is making a foray into the telematics market after teaming up to produce a device to track driver behaviour.
Vietnam's finance ministry calls for consolidation to strengthen insurance market
Vietnam’s finance ministry plans to restructure the country’s insurance industry this year in a bid to stabilize the market, according to reports in the local press.
Axa Commercial goes live with management liability cover
Axa Commercial Lines has launched a management liability policy on Power Place.
RBSI rebrands as Direct Line
Companies House files have revealed that RBS Insurance Group has changed its name to one of its most recognisable brands, Direct Line Insurance Group.
Transactor Poland expands Cracow office
Transactor Poland is leasing additional office space for up to 30 staff in Cracow following its successful launch in September 2011.