News
Deadly May tornado season in US results in huge losses
Record breaking tornadoes and hail in the US caused billions of dollars of damage and many fatalities in Oklahoma and Texas in May.
Cyclone Mahasen destroyed over 100 000 homes
Over 130 000 poorly constructed homes in Bangladesh were destroyed by the powerful cyclone in May.
'Up or out' approach behind insurance career progression satisfaction
Insurance professionals have been found to be the happiest with their career progression, according to a survey of the UK workforce.
Insurers failing to adapt to interest rate challenges survey finds
European insurers are concerned with the low interest rate environment but many are missing opportunities to diversify, according to a survey of insurance chief investment officers.
May US storms to cost insurers $4bn: Aon Benfield
Storms which ravaged the US through May are likely to cost the insurance sector as much as $4bn according to Aon Benfield’s cat model centre.
Bought By Many and Petplan combine on pug-napping cover
Increasing numbers of pug thefts and prevalent health problems have driven Brought By Many and Petplan to launch special cover for the breed.
Latvia given greenlight to adopt euro in 2014
The European Commission said today that Latvia is a good candidate for euro adoption, having successfully overcome its macroeconomic imbalances.
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Besso expands into Australia following Sterling investment
Lloyd’s broker Besso has stepped up its foray into international markets with a minority investment in Sterling Insurance in Australia.
Allianz buys Swedish windfarm for undisclosed sum
Allianz said on Wednesday it has bought a Swedish windfarm taking its investment in renewable energy in Europe above €1.5bn.
Cooper Claridge Ware co-founder promoted to CEO
Hong Kong-based health insurance broker Cooper, Claridge-Ware has appointed co-founder Christopher Claridge-Ware as the company’s new chief executive officer.
Biba backs raised penalties for uninsured drivers
Increased fines for uninsured drivers have been welcomed by the British Insurance Brokers Association.
“Significant damage” expected from devastating European floods
Catastrophe modelling firm Eqecat has warned the industry to expect significant damage from the floods that have inundated Germany, Austria and the Czech Republic over the past week.
Transport minister unveils fixed penalty rise for motoring offences
Careless motorists who put other road users at risk and those that get behind the wheel without insurance face on-the-spot penalties under new measures revealed today by road safety minister Stephen Hammond.
Manchester Police to inform insurers if burglary victims at fault
Insurers may be automatically informed if a burglary occurs at an unsecured property under new plans from Manchester police.
European insurers failing to diversify in investment: report
Most insurers only allocate up to 3% of their investment portfolios to alternative assets, according to a report from Axa Investment Managers and the Boston Consulting Group.
4% of China's market to be foreign owned by 2018
The Chinese market could see non-domestic insurers’ market share quadruple over the next five years according to Ernst & Young.
Chadbourne promotes EMEA partners
International law firm Chadbourne & Parke has promoted two staff to the newly created position of Europe, Middle East and Asia liaison partner.
RSA secures Cambridge Building Society contract
RSA has won the contract to underwrite Cambridge Building Society’s home insurance product until the end of 2016.
IFB working on new model to attract brokers put off by membership cost
Move coincides with demand for greater broker representation on fraud register
Financial transaction tax will have ‘significant implications’ for insurers
EU tax’s implementation date and final form unclear amid legal challenges
Spain protests innocence as more countries refuse EHIC
European hospitals accused of trying to profit from insurers
European regulators’ inability to find traction leaves loss adjusters in limbo
FCA regulation and claims certification touted as solutions to IMDII removal
Axa denies complicity after Accident Exchange exhumes Autofocus cases
AE’s chief vows to right wrongs of ‘deceitful’ practices in targeted legal action