News
Beslity becomes Aon marine chairman
Aon has made several key changes to its global marine business.
XL expands German PI business
XL Group has appointed a new professional indemnity manager for its German business as it looks to expand its team in response to rising demand.
Ifed investigation into fraudster unearths cannabis factory
An electrician who conned Zurich out of £15,000 by repeatedly reporting his work power tools had been stolen has been jailed after police officers investigating the fraud found a cannabis factory at his premises.
ABI hails political support for Flood Free Homes campaign
The Association of British Insurers has secured the support of 20 MPs for its Flood Free Homes campaign.
Mid-Sussex broker Bennett Christmas snaps up Howden PI book
Burgess Hill-based broker Bennett Christmas Group has acquired of a book of professional indemnity business from Hyperion Group subsidiary Howden Insurance Brokers.
PRA names Woods as insurance supervision lead
The Prudential Regulatory Authority has named financial stability strategy and risk director Sam Woods as its new executive director of Insurance supervision, replacing Julian Adams.
ABSs highlighted as claims upsurge threat as CMC numbers dwindle
The rapid demise of claims management companies and the subsequent reduction in bodily injury claims is in danger of being offset by the future strategy of insurance companies with alternative business structures, according to market observers.
Gibraltar to overhaul regulatory regime for financial services
Gibraltar's government and its Financial Services Commission have joined forces to develop a new regulatory framework for financial and professional services.
Dalton appointed as ABI policy director for GI
The Association of British Insurers has appointed James Dalton as director of general Insurance policy.
Claimant's fraudulent broken ankle story discredited on You Tube
A Newcastle man who almost swindled his local authority’s insurance company out of £17,000 after lying about how he broke his ankle has been sentenced to 200 hours of unpaid work.
Smaller motor players facing market exit amid intense competition
Cut-throat competition and meagre rate rises in the motor market could force smaller players to plot an exit, according to industry analysts, as “brinkmanship” continues among certain insurers over potential price increases.
McManus and Chaucer silent on $300m buyout rumours
Brendan McManus and insurer Chaucer have refused to be drawn on speculation that the former Arthur J Gallagher UK retail CEO will lead a buyout of the insurer's UK motor business, backed by private equity house Apollo.
Compass expands fleet team with London market hires
Compass Broker Services, the UK networks division of broker Arthur J Gallagher has appointed Darren Grodent as senior motor fleet broker for its London markets division.
Apil marks 100 day election countdown with bereavement campaign video
The Association of Personal Injury Lawyers has marked the 100 day countdown to this year’s general election with a new campaign video to push for reform of compensation rules for bereavement and psychiatric harm.
Alsford Page & Gems announces MBO
Lloyd’s insurance and reinsurance broker Alsford Page and Gems is to complete a private equity backed management buyout that will see the staff holding 28% of the total shareholding.
Tokio Marine Kiln appoints Woodward for liability role
Tokio Marine Kiln has appointed Paul Woodward as head of liability for its company platform.
Ombudsman GI complaints dip for Q3
Numbers of enquiries received by the Financial Services Ombudsman on general insurance products excluding payment protection insurance fell in the final three months of 2014.
Novae makes cyber hire from AIG
Lloyd’s insurer Novae has appointed James Creasy as class underwriter at its cyber division.
Chinese insurers' profits doubled in 2014
Insurers in China recorded record profits last year.
DAS claims boss exits in restructure
Legal expenses insurer DAS has restructured its management, with chief claims officer Richard Harris, pictured, opting for redundancy after his role was dissolved.
CPP CEO Escott warns brokers about PE snubs if they ignore regulation
Insurance businesses need to “embrace” regulation or face tough consequences if they continue their current “amateurish” practices. Not least the fact they will struggle to sell a business if their compliance is not up to scratch, says CPP's Brent Escott.
Average salary for insurance employees set to rise 8% in 2015
The strain of regulatory scrutiny is contributing to an 8% increase in average pay levels across the insurance industry in 2015 as firms seek to attract top talent.
Commercial growth taking off at Arc Legal after Axa and LV deals
Arc Legal managing director Helen Withers is confident the legal expenses firm will reach the target of tripling the size of its commercial book this year after signing deals with Axa and LV.
Beach hut scheme is first to receive UK General Insurance backing
An insurance scheme for beach hut owners is the first to go live following UK General Insurance’s £100,000 Schemes Seat programme to promote broker innovation.