News
China considers domestic shipping system to protect oil imports
China may create an integrated shipping system for imported oil via cooperative agreements among state-owned shipping lines, refineries and insurance bodies, with the goal of ensuring energy security.
Travelers starts job loss talks over re-jig
Insurer Travelers is proposing job losses after deciding to reorganise its UK underwriting and operations.
Ascot announces £12.6m loss
Lloyd's insurer Ascot Underwriting has revealed that a combined ratio hike to 104.7% (2010: 79.2%) caused a loss of £12.6m (2010: £97.1m).
LV scraps age limit on car insurance
LV has scrapped its upper age limit on car insurance.
Abbey Legal reports 5% profit rise but warns of tough year
Legal and professional fees insurer Abbey Protection has announced 2011 revenues up 4% to £36.2m (2010: £34.9m) and pre-tax profits up 5% to £10.1m (2010: £9.6m).
NFU Mutual returns to underwriting profit
Rural insurer NFU Mutual has turned an underwriting loss in 2010 of £150m into a profit in 2011 of £105m.
Malaysia sees improvements in corporate governance
Malaysia's quest to improve corporate governance in banks and insurance companies is seeing results, according to Malaysian news publication The Star.
Law firm Donns in administration with PI cases sold to Irwin Mitchell
Manchester personal injury law firm Donns has been forced into administration and its caseload has been bought by rival Irwin Mitchell.
Titanic centenary prompts safety concerns
Shipping loss rates have declined from one ship per 100 per year in 1912 to one ship per 670 per year in 2009, according to a report from Allianz to mark the centenary of the iceberg-hit ship.
Shipping sector faces new risks 100 years on from Titanic disaster
To mark the centenary of the Titanic sinking, Allianz Global Corporate and Specialty has recorded what it views as the biggest risks to the shipping industry today.
Declined risk pool aims to reduce losses for India's motor sector
The Insurance Regulatory and Development Authority's decision to implement a declined risk pool system for third-party motor insurance is likely to reduce the losses for Indian insurers, according to industry insiders.
MMA hires Thomson for north east
MMA Insurance has appointed Alexandra Thomson as business development manager for the north east, responsible for the development of broker relationships.
Brown appointed Berrymans' national senior partner
Mike Brown, pictured, has been elected as Berrymans Lace Mawer's new national senior partner to take over from Terry Renouf who has held the position since 2006.
Baxter returns to Power Place
Damian Baxter, pictured, has returned to Power Place as head of business development after departing in August 2010 for a role as head of sales at Keelan Westall.
Insurance Insight – top 10 stories
The 10 most read stories from www.insuranceinsight.eu over the past seven days.
LMA to put co-lead binder claims on ECF
The Lloyd's Market Association has launched a project to increase the volume of co-lead binder claims being managed using the market's ECF electronic claims handling system.
Eurozone crisis and Solvency II undermine Italian insurers' profitability
Italian insurers' growth and profitability is likely to remain subdued until the end of 2013, according to the latest report by Fitch.
Wouldham to head Axa's Maidstone office
AXA Commercial Lines has promoted Paul Wouldham to branch sales manager to lead the team at its soon-to-launch branch in Maidstone.
Sompo Japan and Nipponkoa merge to create global P&C firm
Japanese non-life insurers Sompo Japan Insurance and Nipponkoa Insurance are to merge into a single company in the first half of the 2014 financial year.
Ban on hospital claims management adverts would not work, insists Boleat
Hospital leaflet provider BOE has commissioned former claim management regulator Mark Boleat to compile a report defending its leaflets carrying adverts encouraging NHS patents to sue for damages.
EU foreign policy head confirms exemptions to Iran oil sanctions
Further details have emerged concerning the European Union's decision on Friday to allow some insurance for Iranian oil shipments heading for destinations outside the EU.
Now Health streamlines claims admin for large groups
Health provider Now Health International has removed the requirement for large group members to provide a doctor's signature or original receipts for all new claims, regardless of size.
CED continues expansion in Spain with Tebex takeover
Loss adjusting and claims management firm CED has reinforced its position in Spain with the takeover of Tebex Daño Corporal.
RSA in summer time eyesight plea
RSA's UK & Western Europe chief executive, Adrian Brown, pictured, has warned of an increase in crashes after the clocks jumped forward an hour on Sunday morning. He used the change to call for better eyesight testing of drivers.