News
Claims Awards Asia entry deadline approaches
There is still time to submit your entries for the Claims Awards Asia 2014.
Hiscox exits care home sector
Hiscox has confirmed it is withdrawing from the care home sector to focus on its core lines of business.
Cooper Gay, Willis, XL, Generali and Ace sign up for Netsett pilot
Willis, Cooper Gay Swett & Crawford and Ruschlikon UK members, Ace, XL Group and Generali, have signed up to participate in pilots of Xchanging’s Netsett platform.
Hiscox adds two to London market personal accident team
Hiscox has expanded its London market personal accident team with the hire of a team leader and senior underwriter.
Volatility adjustment approval process could disadvantage UK firms
Proposals to make the Solvency II volatility adjustment subject to pre-approval by the Prudential Regulation Authority could put UK firms at a competitive disadvantage, according to EY’s head of insurance regulation and risk Martin Bradley.
P&I Clubs face 5% premium increase, claims report
Lloyd's broker Tysers is estimating a 5% premium increase for P&I Clubs after a benign 2013/14.
ABI offers staunch defence of application fraud figures following criticism
The Association of British Insurers has moved to defend the process by which it calculated that 180 675 motorists attempted fraudulent insurance applications last year, following criticism by a claimant law firm.
Financial services turns attention to 'devo max' following Scottish 'no' vote
Uncertainty among Scottish based financial institutions has not been entirely alleviated by the ‘no’ vote on independence, amid plans to devolve additional powers north of the border.
40% of 20 largest ex-nat cat losses in 2013 from oil and gas
Globally, excluding those caused by natural disasters, oil and gas losses were worth $3.2bn (£1.95bn) in 2013.
PICC targets Chinese pet owners
Chinese insurance giant PICC is launching a product for cats and dogs for Chinese owners.
Ace recruits from Accenture firm for head of travel, Asia-Pacific
Ace has appointed Jon Ford as vice president and head of travel, Asia-Pacific.
The Policy Shop cashes out with sale to Markerstudy
Markerstudy has bolstered its gross written premium by £20m with the acquisition of personal lines broker The Policy Shop.
CILA president Jones targets next generation of loss adjusters
Bringing through the next generation of loss adjusters has been described as “number one” in Mike Jones’ top three objectives for his year as president of the Chartered Institute of Loss Adjusters.
MSIG notches ‘best ever’ underwriting result for 2013
Mitsui Sumitomo’s Lloyd’s operation has reported record underwriting profits for the year ending 31 December 2013.
Applied Systems plots UK growth
Brokers using Applied Systems software can expect to see growth in the US firm's UK arm in its product offering and staff numbers, according to the company's senior leaders.
SSP tackles £2.8bn application stage fraud with software launch
Software provider SSP has launched a counter fraud solution within a pricing and data platform in a bid to enable insurance companies to clamp down on rising motor fraud at the policy application stage.
Crawford’s Burke elected CILA deputy president
Crawford’s senior vice president of global markets Benedict Burke has been elected as the deputy president of the Chartered Institute of Loss Adjusters at the body’s annual general meeting.
AGCS names Feng as Mitchell's successor in Hong Kong
Allianz Global Corporate & Specialty SE has appointed its Singapore branch regional manager for financial lines Asia, Chin Feng, as chief executive of the firm’s Hong Kong branch following Mark Mitchell's promotion to regional CEO for AGCS Asia.
US claims giant to buy VRS Vericlaim, Ellis May parent
VRS Vericlaim and Ellis May are to be acquired by US claims specialist Sedgwick in a deal expected to close within 60 days.
Thompsons condemns ABI motor application fraud sums
Claimant law firm Thompsons Solicitors has hit out at figures from the Association of British Insurers which claims to show the scale of application fraud in motor insurance.
Insurers to face 'soaring' VAT bills following ECJ ruling
A ruling from the European Court of Justice is likely to add hundreds of millions to European insurers’ VAT bills, according to tax experts.
IFR promises ‘rapid action’ on broker engagement
The Insurance Fraud Register is targeting increased participation from distributors as a high priority according to Axa’s global head of fraud and IFR project sponsor Richard Davies.
Flood resilience guide for homeowners offers insurance advice
Homeowners at risk of flooding are set to benefit from a comprehensive guide to flood resilience that provides insight on a range of issues including insurance.
Applied Systems unveils updated customer portal product
Insurance technology company Applied Systems has unveiled the latest version of its client portal product to be used in the UK.