News
Swiftcover signs three year deal
Swiftcover has renewed its three-year contract with Auto Windscreens.
Aspen UK given Australian authorization
Aspen Insurance Holdings Limited, the Bermudian (re)insurer, said that its subsidiary, Aspen Insurance UK Limited, has been authorized by the Australian Prudential Regulation Authority to operate as a branch insurer to underwrite general insurance…
Lockon Re takes senior exec from Collins
Lockton Re said it has appointed John Daum as executive director based in New York, the insurabroker's first US-based reinsurance Associate.
Product recalls up 20% to new high, claims law firm
The number of product recalls in the UK has jumped to a new high, up 20% over the last year to 230 (to 31 October 2008) compared to 192 in the previous year, according to annual research by Reynolds Porter Chamberlain LLP.
Lloyd's reinsurers examine exposure to $50bn fraud
Lloyd's casualty reinsurers are scrambling to find out whether they may be the final victims of disgraced Wall Street trader Bernard Madoff's $50bn fraud.
Insurers lead Nikkei charge
Mitsui Sumitomo, one of Japan's biggest insurers, saw its share price rocket over 10% in Monday's trading on Japan's Nikkei exchange.
Aon appointed by Birmingham International Airport
Birmingham International Airport has appointed Aon to manage its insurance programme and provide strategic advice on risk matters.
Further consolidation seen amongst midmarket US brokers
There will be further consolidation amongst midmarket brokers in 2009, analysts at Keefe, Bruyette & Woods say.
IIB slams FSA plans for unlimited compensation limits
The Institute of Insurance Brokers has voiced strong opposition against unlimited Financial Services Compensations Scheme awards.
US baseball team sues Ace subsidiary
(BestWire) - The Los Angeles Dodgers have filed a lawsuit alleging an insurance company it used to insure one of its pitchers has not paid the more than $9 million in claims the club says is owed to them.
AIG and others awarded $141m in Banc of America lawsuit settlement
(BestWire) - American International Group and a group of insurance and financial institutions have been awarded $141m from Banc of America Securities LLC in a lawsuit charging misrepresentation of risk in a 1998 securities sale.
Broker BGL in new outsourcing push
The BGL Group is to offer call handling services externally to third party organisations, the broking ginat announced this morning.
Marsh predicts hardening in accountants' PI
Deteriorating economic conditions and a subsequent rise in company insolvencies will increase the number of claims against accountants and auditor firms, according to Marsh.
Ironshore makes acquisition
Acquisitive Bermudian insurer Ironshore has bought out Toronto-based reinsurer Marine Re.
Claims firm announces 50 new jobs and office
Imperial Consultants has submitted plans to build a new 7000 sq ft additional office building at its site in Helmshore, Lancashire.
Lloyds TSB introduces monthly PPI product
Lloyds TSB will launch a new payment protection insurance (PPI) product for personal loan customers in January 2009.
Aon Benfield places Olympics cover
Aon Benfield has completed the cancellation and abandonment insurance programme for the 2014 Winter Olympics in Sochi.
Novae gets A- rating from Fitch
Novae Insurance Company Limited (NICL)has been given an insurer financial strength (IFS) rating of 'A-' (A minus) by ratings agency Fitch.
Helphire announces board shake-up
Helphire has appointed Charles Lambert as finance director on an interim basis with effect from 1January.
Aon launches new export guide
Aon has issued a new guide which aims to help British companies take advantage of the weak sterling and associated export opportunities.
Broking trio approved to buy California earthquake cover
The California Earthquake Authority Governing Board has approved Aon Benfield, Guy Carpenter and Willis Re to work on the CEA's behalf to meet the reinsurance needs of the nation's largest residential earthquake insurance provider.
RSA's China operation given regulatory permission
Sun Alliance Insurance (China), a wholly-owned subsidiary of UK insurance giant RSA, has been given regulatory permission to operate reinsurance businesses with its related companies.
Swiss Re in new Vietnam joint venture
Swiss Re and the Vietnam Development and Investment Banking Insuring Ltd Co (BIC) have signed a co-operation agreement to offer insurance packages for small and medium-sized enterprises (SME).
As many as four 'intense' hurricanes predicted in 2009 - CSR
There will be as many as four intense hurricanes in 2009, forecasters at Colorado State University say.