News
Swinton and Esure owed over £1m by Drive Assist
Swinton and Esure are owed more than £1m each by failed credit hire company Drive Assist.
Pan-European insurance contract law a 'logistical minefield'
The principles behind a pan-European insurance contract law are sound, but any attempt to implement such a framework would be a logistical minefield, according to industry insiders.
Lyons Davidson rules out Admiral sale
Admiral is in negotiations over a non-exclusive collaboration with law firm Lyons Davidson, Post understands.
Top five European news stories
The top five stories from www.insuranceinsight.com over the past seven days.
Jubilee salutes regulators’ PPI guidance
RSG-owned Lloyd’s managing agent Jubilee has welcomed “badly needed” guidance from the Financial Services Authority and the Office of Fair Trading.
Only 16% of firms have dedicated CIO for cyber risk
Many European firms still do not devote sufficient attention to cyber risks, despite an increase in frequency, scope, and sophistication - and harsher penalties for lack of regulatory compliance and loss of sensitive data.
3i rumoured to be planning sale of Hyperion stake
Private equity firm 3i has refused to comment on fresh speculation that it is ready to sell its 23% stake in Hyperion.
LGTA could spell further delays for Solvency II
Trade body Insurance Europe has welcomed the launch by the European Insurance and Occupational Pensions Authority of an assessment to find the most appropriate treatment of long-term guarantees under Solvency II.
Aviva launches iPad app following broker feedback
Aviva has introduced an iPad app to its online trading platform Fast Trade, with a view to providing brokers with the facility to ‘quote and buy’ online in less than five minutes.
HGV ‘crash for cash’ fraudster jailed
A gang member who deliberately caused a crash with a heavy goods vehicle to make a fraudulent insurance claim has been jailed for a year.
Lemma Insurance Europe policies disclaimed
The Supreme Court of Gibraltar has passed an order winding up Lemma Insurance Europe and appointing Frederick White, of Grant Thornton, as liquidator.
AIG secures HSBC distribution rights in Turkey and France for $55m
American International Group signed a 10-year bancassurance deal with HSBC Group, which see it become the exclusive provider of non-life insurance products to HSBC customers in Turkey and France.
Ageas investigators expose bogus claimant four years after collision
A woman who lodged a £100 000 claim with Ageas for back injuries she supposedly sustained in 2009 collision has been ordered to pay back upwards of £19 000 after she was found to have pre-existing problems.
XL appoints Brazil Re boss
Dublin-based insurer and reinsurer XL has promoted its senior underwriter in Argentina to a new role heading up Brazilian reinsurance operations.
Cuna targeting loan protection after debt waiver gets regulatory green light
Financial services insurer Cuna Mutual is to launch a new debt waiver product after the products were given approval by the Financial Services Authority and the Office of Fair Trading.
AIG acquires HSBC's French GI arm and extends Turkish footprint
AIG has entered a 10-year bancassurance agreement with HSBC Group to become the exclusive provider of non-life insurance products to the bank's customers in Turkey and France.
Clunes rages at Churchill over axe
Former Men Behaving Badly star Martin Clunes has labelled Churchill Insurance "neurotic and very heavy-handed" after it dropped him from TV adverts.
Impact study likely to cause further SII delay
The implementation of Solvency II faces further delay due to the launch a long-term guarantees assessment impact study by the European Insurance and Occupational Pensions Authority, KPMG has warned.
Machell to leave Aviva; AIA veteran lined up as successor in Asia
Simon Machell, chief executive of higher growth markets, Aviva is to leave the company at the end of February.
Insure The Box cuts third party providers from telematics
Insure The Box has become the first UK insurer to create its own in-house telematics platform in a bid to reduce costs and improve customer service.
Lemma Insurance Europe policies disclaimed
The Supreme Court of Gibraltar has passed an order winding up Lemma Insurance Europe and appointing Frederick White, of Grant Thornton, as liquidator.
NIG updates e-trading platform with launch of 'The Hub'
Commercial insurer NIG has launched a full-cycle e-trading platform for commercial brokers, following recent investment in technology.
Trade body welcomes Eiopa revisit of long-term guarantees
The European Insurance and Occupational Pensions Authority has launched a technical assessment to find the most appropriate treatment of long-term guarantees under the forthcoming Solvency II regulations.
P&C insurers better placed than life firms to weather economic storm
Property and casualty insurers are better positioned to withstand a slow growth environment compared to life insurers, which will be more impacted by the weak global economy given they are mainly "discretionary" purchases and the low interest rates,…