News
CNC conducted ‘incomplete economic analysis’ of cartel insurers
Improper economic analysis by Spain’s competition commission led it to wrongly find eight insurers guilty of price fixing, according to legal experts.
Insurance Europe slams financial transaction tax
The draft directive for a financial transaction tax in eleven EU states will have a negative effect on insurers, their customers and the EU economy, according to trade body Insurance Europe.
TCW Vehicle Repairs rebrands and makes two senior appointments
Markerstudy’s subsidiary TCW Vehicle Repair Group has rebranded as TWC Group and appointed new senior management team.
Wunelli and EE join forces to deliver driving scores to insurers
Telematics provider Wunelli has joined forces with communication giant EE to develop mobile-to-mobile network communications to deliver vehicle driving and usage patterns to insurers.
Mass: 'Aviva has identified the problem but not the solution'
Access to independent legal advice is likely to lower the number of fraudulent and whiplash claims, according to the Motor Accident Solicitors Society.
UK court confirms 9/11 was double reinsurance event
The Commercial Court's move to uphold an earlier legal decision that the 9/11 World Trade Center attacks arose out of two events rather than one is "of considerable interest to the insurance and reinsurance market", according to law firm Herbert Smith…
Capita hires five tech managers in Gloucester
Capita Insurance Services has appointed five technical managers responsible for day-to-day interaction with clients.
Coface restructure brings European branches under control of French regulator
French credit insurer Coface said today it had simplified and streamlined its European credit insurance activities in preparation for incoming Solvency II regulations.
Libyan revolution anniversary violence likely
The 15 February anniversary of the Libyan revolution will raise the risk of violent protests, according to Exclusive Analysis.
Zurich UK GI operating profit slides 46%
Zurich has blamed a major increase in large commercial losses and pension charges on a 46% slump in business operating profit to £85.3m in its UK general insurance operation in 2012.
Kennedys partners relocate to Dubai
Two UK-based partners from law firm Kennedys have relocated to the firm’s Dubai office amid growing demand for insurance related services in the Middle East.
Catlin full-year results “a mixed bag”
Specialty insurer Catlin’s results for the calendar year of 2012 represented a “mixed bag” according to Shore Capital Eamonn Flanagan.
Zurich GI profit falls after Sandy and German 'system error'
Operating profit in Zurich's general insurance business dropped by $150m to $2.1bn year-on-year in 2012 after above average catastrophe and weather-related losses offset gains made through tighter underwriting discipline and expense management.
R&Q MGA launches Lloyd’s yacht consortium
Randall & Quilter’s multi-line underwriting agency, R&Q MGA, has created a dedicated Lloyd’s consortium to provide yacht and small vessel cover, globally.
Zurich GI profit falls in 2012
Zurich blames weather losses for fall in profitability, but saw increase in premiums and is confident German reserving problem was a one-off.
Insurance CEOs upbeat about Asia and the Middle East, says PWC
The majority of insurance CEOs think their businesses are going to grow over the next few years according to PWC 16th annual global CEO survey.
Career file: Simon McGinn: McGinn to replace long-serving Hanks
Simon McGinn will succeed Chris Hanks as general manager of commercial at Allianz from 1 July.
Ecclesiastical and Quadra in dual branding strategy
Quadra Claims Services director Dave Greenwood has confirmed the firm will retain its independence despite strengthening its links with insurer Ecclesiastical.
Buyout sees Bollington follow Lark in breaking away from Groupama
The Bollington Group has become the third and final Groupama-owned broker to clarify its long-term future after a management buyout agreement was reached.
Multimillion pound supermarket horsemeat scandal bypasses insurers
Insurers are awaiting test results on food products as many of the UK’s largest supermarkets continue to recall beef products found to contain horsemeat.
Brokers bemoan electronic claims systems as service satisfaction declines
Brokers have blamed an over-reliance on electronic systems for a decline in London market insurers’ claims standards.
Drive Assist collapse threatens bodyshops
The National Association of Bodyshops is threatening legal action against Drive Assist’s administrators, after claiming the credit hire firm left 15% of NAB members “at risk” of running into cash flow difficulties after it entered liquidation.
Aviva calls for third-party ban in motor claims process
Aviva has launched a fresh attack on personal injury law firms, which it accuses of adding £1.5bn – or £118 per motor premium – in unnecessary costs to the motor insurance claims process.
View from the Top: Where is the love?
Survey peddlers should be off the Valentine’s card list as they predict doom and gloom