News
Guy Carpenter appoints new CEO for Italy
Guy Carpenter & Company, the reinsurance broking arm of Marsh & McLennan, said that it has appointed Massimo Reina as CEO of Guy Carpenter Srl, Milan, with responsibilities for the Italian territory.
Hiscox raids Imagine for custom reinsurance team
Hiscox, the Bermuda-domiciled Lloyd's (re)insurer said it has hired Bob Forness from Lloyd's rival Imagine to head ups its new custom risk reinsurance team.
Worst US 2Q cat losses since 2001
US property/casualty insurers are expected to pay homeowners and businesses an estimated $6.025bn for second-quarter property losses resulting from a total of 16 catastrophes in 27 states — nearly double the number of catastrophes in the first quarter of…
Countrywide names new MD
Countrywide has appointed Nick Haycock as managing director.
DLA Piper: MoJ reforms "watered down"
The changes to the personal injury personal injury system outlined by the Ministry of Justice today have been described as "much watered down" from the original and "far from the ground-breaking proposals" once feared.
LEIG praises MoJ response
The Legal Expenses Insurance Group today welcomed the Ministry of Justice response to representations on its consultation paper on case track limits and the claims process for personal injury claims.
Kennedys in RPC swoop
Reynolds Porter Chamberlain is to sell its regional insurance office in Tiverton, Devon, as a going concern to Kennedys. The transaction will take place on 28 July 2008.
Hyperion names new FD
Eric Fady has been named as the new group finance director for Hyperion Insurance Group.
Prentice defends lack of progress in MoJ report
Bridget Prentice MP, Minister for Civil Justice, has defended the government's failure to introduce most of the radical proposals in its original consulttaion document.
MoJ: No extensions for decisions on liability
The government has concluded that there should be no extensions for decisions on liability for insurers.
AIG sets Willumstad pay and bonuses
American International Group has set new chief executive Robert Willumstad’s basic annual salary at $1m, an annual cash bonus opportunity of $8m plus an annual long-term incentive opportunity of $13m.
Oval appoints London market casualty head
Oval has appointed Marcus Simeoni as head of its London market casualty broking team.
MoJ: no changes to ATE market
The government has decided not to press ahead with the proposed changes to the recoverability of after-the-event insurance premiums.
DAS launches online claims monitor
DAS Legal Expenses insurance company has launched a new online claims tracking service. eClaims from DAS will allow both brokers and their customers to view their claim online nad track what stage their claim is at as well as view information currently…
MoJ: New fixed fee regime to be subject to further consultation
The government has concluded that implementing a new fixed fee claims process and the development of an assessment tool are to be put on the backburner.
Sagicor rebrands BSU
Sagicor Syndicate Holdings has rebranded Byrne and Stacey Underwriting as Sagicor Underwriting.
MoJ response: Insurers to have 15 days to respond on liability
The government has concluded that, as proposed in the consultation paper, insurers will have 15 working days in which to respond on liability.
MoJ: EL and PL claims not to included in new fast track regime
The government has confirmed Post's story that it proposes employers' liability and public liability claims will not be covered by the new fast track regime .
KGM appointments signal growth plans
KGM Motor Insurance, has made two key appointments. Doug Phelan has been brought on board as group development manager and Alexander Connon joins as agency manager for Scotland.
MoJ proposes fast track limit increase to £25 000
The government has proposed that the fast track limit be increased to £25 000.
MoJ confirms small claims limit to stay at £1000
The government remains of the view that the small claims limit for personal injury claims should remain at the current level of £1000.
MoJ: Personal injury reform response finally published
The Ministry of Justice has today published its long awaited response to its consultation on personal injury reform.
Evolution appoints three CEOs
Evolution Underwriting Group has announced changes to the board structures of the three companies within its group.
Aon replaces Ryan atop supervisory board
Aon said that it has elected Lester Knight to be its non-executive chairman of the board. He will replace former Aon architect Patrick Ryan, who will retire on 1 August.