News
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.
Insurers warned against 'indiscriminate use' of fundamentally dishonest clause
Insurers will be advised to avoid “indiscriminate use of legislation” designed to strike out claims deemed fundamentally dishonest, according to a partner at defendant law firm BLM.
Motor insurers and SMEs in firing line as court fee rises are considered
Proposed court fee increases have been criticised by legal experts for countering the government’s aim of reducing the cost of litigation, amid concerns motor insurers and SMEs will be impacted by the changes.
Drivers claiming £3.2m in compensation for pothole damage
Almost 50,000 UK drivers have claimed more than £3m in compensation from local councils for damage to vehicles caused by potholes over the last financial year, according to the RAC Foundation.
Liberty Specialty Markets creates CRO role for Arch’s Fullerton-Rome
Liberty Specialty Markets has found its first chief risk officer in the shape of Arch’s Elizabeth Fullerton-Rome.
Tributes for "model professional" Hong Kong broker Geoffrey Lung
Geoffrey Lung, CEO and managing director of Hong Kong-based MI Insurance Brokers, sadly passed away on 9 January after a heart attack.
Miranthis steps down as Partner Re's CEO
As a result of the proposed $11bn (£7.3bn) merger of Axis Capital and Partner Re, Partner Re's CEO Costas Miranthis has stepped down after four years in charge.
Axis Capital and Partner Re agree £7.3bn merger
Axis Capital and Partner Re have agreed terms on a £7.3bn ($11bn) merger to create one of the largest reinsurers in the world.
Pan named Willis China CEO
Lincoln Pan, executive director Willis Hong Kong, is replacing Mitchell Ma as CEO Willis China.
Brokers, insurers and reinsurers unite for microinsurance push
Nine brokers, insurers and reinsurers are combining in an attempt to add scale and reduce distribution costs of microinsurance.
Australian medical premiums could rise 7% in April
As costs rise, Australian insurers are preparing an increase of up to 7% for private medical premiums.
29% of drivers believe they aren’t responsible for accuracy of insurance applications
Almost a third of UK drivers believe they are not directly responsible for the accuracy of their motor insurance applications, according to new research from technology firm SSP.
Sentimental items most valued by burglary victims
Six out of ten burglary victims don't ever feel secure in their homes again, according to research by UIA Insurance.
City minister's apprenticeship figures ‘a mistake’ says CII
The Chartered Insurance Institute has moved to correct City minister Andrea Leadsom’s claims on apprenticeships, claiming the MP is mistaken on numbers.
49 law firms enter PI cessation period
12 law firms have been forced to close their businesses after failing to obtain professional indemnity cover, the Solicitors Regulation Authority has confirmed, while 49 have yet to renew PI cover.
RSA facing constructive dismissal suit from former Ireland CEO
RSA is facing a court battle over the departure of former Ireland CEO Philip Smith last year following his decision to sue for constructive dismissal.
Guy Carpenter named as Flood Re broker
Flood Re has ended its long search for a retrocession broker by recruiting Guy Carpenter, while an chairman appointment is also imminent.