News
No justification for FSA compensation
Professional indemnity insurance broker PI Expert has warned that the Financial Services Authority’s demands for more power to issue compensation awards could be a cash cow for the regulator.
Axa and Generali in running for HSBC non-life book
European insurers Axa SA and Assicurazioni Generali SpA are thought to have submitted first-round bids for HSBC's non-life insurance business in a deal worth up to $1bn (€728m), Reuters has reported.
Home & Legacy in broker push
High net worth underwriting agency Home & Legacy has announced ambitious expansion plans on the back of slicker technology and a six-month 2.5% boost in commission paid to brokers.
CII Blog: The kids are alright
Time to reflect on a busy summer - and what's been an eventful season of youth bashing.
Skillin returns to Imperial Consultants
Having concluded other business matters, Kevin Skillin is returning to the operational and development side of Imperial Consultants as CEO.
Insurance Insight weekly update live
Insurance Insight’s weekly update is live with an article on how European insurers will be affected by US Asbestos, Pollution and Health Liabilities when Solvency II is implemented; and a guest blog on brokers putting business out to auction.
Westfaelische Provinzial Versicherung AG upgraded to 'AA'
Insurer Westfaelische Provinzial Versicherung AG has had its insurer financial strength ratings upgraded to 'AA' from 'A+' with stable outlook.
Risk managers skills poll result
Have risk managers had a adapt their skills-set?
CEA opposes US tax proposals as barrier to European insurers
The CEA is strongly opposing Bills introduced this week US House of Representatives saying they could lead European insurers to withdraw from the US market.
AIR estimates insured losses from Jova less than $52m
Hurricane Jova damaged limited as storm hit sparsely populated areas in Mexico and then weakened.
Broker Assistance forced into administration
The Credit Hire division of Broker Assistance has been forced into administration by government owned Lloyds TSB.
Hastings posts 150% EBITDA surge
Hastings Insurance Group has increased its combined EBITDA from £11m to £27m for the 2010/2011 financial year.
Hodges makes first mark on Towergate with Barr and Rea moves
Towergate’s new group chief executive Mark Hodges has made his first mark on the business he took over at the start of September.
AIR estimates Hurricane Jova losses
Catastrophe modelling firm AIR Worldwide says category 2 Hurricane Jova will have caused less than $52m of damage as it hit a sparsely populated stretch of Mexico’s Pacific coast.
FSA approves Haverford’s Omega bid
Haverford (Bermuda) has secured approval from the UK Financial Services Authority for its proposed acquisition of up to 25% of troubled Lloyd’s insurer Omega.
AJAG exposes extent of insurance industry credit hire “rip off”
Research published today by the Access to Justice Action Group has revealed the extent to which the insurance industry itself inflates claims for the credit hire of replacement vehicles after road accidents.
Biba announces 2012 theme
The British Insurance Brokers’ Association has announced that ‘Shaping our Futures’ will be the theme for its 2012 conference and exhibition to be held at Manchester Central on 16 and 17 May 2012.
Ace Bermuda launches D&O policy in the Netherlands
Ace Bermuda International has launched an executive liability policy for corporate officers and directors assurances in the Netherlands.
88% of cases are under-insured
Around 88% of cases are under-insured, Barrett Corp Harrington’s Roger Corp told delegates at the Agrical conference.
London market claims performance improvements not being seen across the board
The London insurance market’s claims service has improved year-on-year since 2009 but inconsistency means that some in the market still offer poor claims service.
Ageas investigation lands 10 crash for cash fraudsters
A gang of 10 fraudsters involved in a crash for cash conspiracy to cheat insurance companies out of almost £500 000 have been sentenced following an investigation led by Ageas.
BGL Group appoints Hewitt as non-exec director
BGL Group has expanded its board with the appointment of Debbie Hewitt, former CEO of RAC, as a non-executive director.
Openwork appoints former Zurich CFO
Openwork has today confirmed the appointment of chief financial officer Simon Clifford, who joins the firm from Zurich Financial Services International Life where he held the same position.
Weak technical results threaten profitability in French, German and UK motor
Motor insurers in Germany, the UK, and France face an uphill struggle for profitability and are unlikely to break even on their underwriting results for several years, according to a report by Standard and Poor’s.