News
US firms hit by Sandy could face claims battle
Business losses triggered by superstorm Sandy are expected to be exacerbated by the fact that few firms have policies to cover loss of income when their operations are disrupted by a supplier’s poor fortune.
Ask the expert: Ali Foroshani
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Market moves: Ace and Hiscox lead the recruitment drive
Ace and Hiscox were the most active in the recruitment space this week, making three changes apiece.
Law report: Foreseeability of financial crisis defence no longer unassailable
Law reports contributed by national law firm Berrymans Lace Mawer.
Law report: EU rules have an impact on motor claims
Law reports contributed by national law firm Berrymans Lace Mawer.
Law report: EAT upholds striking out of claim presented out of time after documents lost in post
Law reports contributed by national law firm Berrymans Lace Mawer.
Website review: Co-operative Insurance
Slow response speeds and queuing mean performance is middle of the road.
Brokers rate clarity of contacts crucial amid continued insurer restructures
Axa has retained the top spot in a broker survey of insurer performances in dealing with claims, underwriting and accounts.
Insurance chief urges HMRC to open up records to boost EL tracing hit rate
The Employers' Liability Tracing Office is demanding that the government supports its call for HM Revenue & Customs to assist in boosting the number of successful historic policy traces by providing employer reference numbers.
Directors lose out as DLG axe falls on senior team
NIG sales and distribution director Dave Parry is among the highest profile figures to exit Direct Line Group amid fresh redundancies as the group targets £100m in gross annual savings by the end of 2014.
Police chief McBride calls for more insurer input to tackle metal theft
A police chief has urged insurers to tackle the spread of metal theft by improving the quality of claims data and sharing it with police and other stakeholders.
Gallagher sees Q3 income climb 14%
Arthur J Gallagher has reported a 14% rise in adjusted total revenues to $479m for the three months ending 30 September.
Linuo Power in solar warranty deal with Aon's China JV
International photovoltaic firm Linuo Power has launched warranty cover for solar modules supplied by Aon-Cofco, a joint venture between broker Aon and state-owned Chinese conglomerate Cofco Group.
Former RSA chief executive resurfaces at Lloyd's
Lloyd's has appointed Andy Haste as senior independent deputy chairman on the Council of Lloyd's.
EC Insurance names former Allianz Global Assistance chairman as non-exec
EC Insurance Holdings has appointed Mike Webb as a non-executive director.
Davies appoints deputy chairman as interim CEO
Davies has confirmed that deputy chairman Mark Chapman has taken over as acting chief executive until a permanent replacement is found following Charles Crawford's departure.
Firms unprepared for Sandy BI losses, Willis' Texeira warns
Hurricane Sandy could cost insurers between $5bn and $10bn, according to a report in The Wall Street Journal, while Bloomberg reports that the hurricane's toll is poised to cause $20bn worth of "economic damage".
Analysts predict 'superstorm' Sandy will strike primary insurers hardest
Lloyd's will avoid major losses relating to 'superstorm' Sandy, if early estimates that the primary insurers will absorb the bulk of the losses are correct.
Insurers fight back against riot response 'spin' claims
The Association of British Insurers has hit back at the London Assembly's "disappointing" and "meaningless" report on insurers' handling of last year's riots, arguing that it fails fully to understand the complexities of the claims handling process.
Crawford and Webb leave Davies
Davies chief executive Charles Crawford has left the firm along with recently appointed chief operating officer Andy Webb.
Caribbean cat risk report issued on Sandy
The Caribbean Catastrophe Risk Insurance Facility has issued a risk report after two of its members, Jamaica and the Bahamas, were hit by tropical cyclone Sandy.
GC develops industrial park database after Thailand losses
Guy Carpenter has developed a database of industrial estates in China, Taiwan, Thailand and Indonesia to help clients identify and evaluate potential risks in the region.
Hill Dickinson warns on non-claiming frauds
Data from unpursued claims should be better used to combat future fraud, according to commercial law firm Hill Dickinson.
Sandy could cost insurers $15bn
Insured losses from storm Sandy to properties in the US are expected to be between $7bn and $15bn, according to catastrophe modeling firm AIR Worldwide.