News
International business fears rising, says Ace
Over half of European companies believe that doing international business has become more risky over the past five years.
IFED head blames rise in insurance fraud on "greed" not recession
The senior policeman who runs the Insurance Fraud Enforcement Department believes that "greed" rather than the economic downturn is the main contributory factor to a rise in insurance fraud.
UIB wins reinsurance contract for Europe's 'largest solar park'
International reinsurance broker UIB has secured a deal to provide reinsurance for the Activ Solar GmbH Solar Park in southern Ukraine.
Chinese economic policy threatens country's SMEs
Efforts by China's government to stimulate the country's flagging economy could weaken small to medium sized businesses, causing a wave of payment defaults, according to Coface.
Quinn Insurance administrators could take legal action against directors
Quinn Insurance administrators could take legal action against the company's former directors for alleged reckless trading.
Insurers finalising Solvency II preparations despite delays
Delays to the Solvency II framework have not dampened insurer appetite for Solvency II products, according to Interactive Data.
Charles Taylor adjuster joins Axis in Mexico
Axis International Loss Adjusters and Surveyors has continued to expand its ex-pat team in Mexico by appointing Dax Stuart-Cox, pictured, as senior insurance and reinsurance loss adjuster.
Aspen recruits former Hiscox head
Aspen Risk Management has appointed Lee Chelton, pictured, as head of regional professional indemnity.
Talanx scraps IPO
Talanx AG is cancelling its initial public offering after investor's valuations of the company "deviated significantly" from the valuation given by banks managing the IPO.
Talanx pulls out of IPO
German insurer Talanx AG is to cancel its initial public offering after investor feedback on the company's valuation "deviated significantly" from analyst estimates.
Fraudulent claims reach £19m every week, says ABI
More than 2,500 fraudulent claims are discovered by insurers every week, according to a report published today by the Association of British Insurers.
ABI launches Insurance Fraud Register
The Insurance Fraud Register launched today after two years of trials and talks between the Association of British Insurers, its members and the Information Commissioner.
Why I moved away: Lloyd East, Al Ahlia (part of RSA)
RSA Group's Lloyd East recently relocated to Oman to become CEO of Al Ahlia. He talks to Post about why he made the move.
Market moves: High-profile changes at Allianz, Zurich and Towergate
The industry witnessed a number of major departures this week with Chris Hanks, Karl Bedlow and Nick Houghton leaving their roles at Allianz, Zurich and Towergate respectively.
Law report: Risk assessment ruled unnecessary
Law reports contributed by national law firm Berrymans Lace Mawer.
Law report: Judge finds lack of scrutiny caused 'fatally flawed' claims
Law reports contributed by national law firm Berrymans Lace Mawer.
Law report: 10% personal injury damages increase to apply to all judgments given after 1 April 2013
Law reports contributed by national law firm Berrymans Lace Mawer.
ABI concedes two-year delay in mesothelioma payments 'not ideal'
The Association of British Insurers' head of motor and liability, James Dalton, has defended a new scheme to provide compensation to workers exposed to asbestos who are unable to trace a liable employer or insurer.
Lack of co-operation 'costs motor insurance £230m'
A lack of co-operation among motor insurers could be costing the industry more than £230m, according to the Chartered Insurance Institute Claims Faculty's New Generation Group.
Defendants face stiff challenge on subrogation inflation argument
The recent verdict in RSA's high-profile subrogation case could pose challenges for insurers wishing to dispute increased pricing on motor claims in court, according to Temple Garden Chambers barrister Aidan Ellis.
Probroker defends membership levels as broker network competition hots up
Marsh's UK broker network has defended its tally of 28 members in the three and a half years since its launch, insisting that the proposition is more than just a numbers game.
Brokers urge against unnecessary bureaucracy in mis-selling regulation
Broking representatives have called on the regulator to make sure that its pledge to stamp out any sales-driven mis-selling of products to consumers does not turn into a “box-ticking” exercise.
Vienna Insurance to stop accepting paper shares
Vienna Insurance Group AG Wiener Versicherung Gruppe has commenced an invalidation procedure with regard to shares represented by paper certificates.
Zurich renews seven-year CSC agreement
Zurich has extended its IT application system master service agreement with technology provider CSC for another seven years.