News
Dean triggers mass evacuation of vast Pemex offshore field
Mexican state oil producer Pemex has initiated a mass evacuation of 13,000 workers from its oil installations in its key Cantarell complex of oil fields in the bay of Campeche as Hurricane Dean approaches.
Industries still face foot and mouth damage
Specialist underwriter Crowe Livestock has warned that the recent foot and mouth outbreak has yet to reveal the full extent of financial casualties among industries that support farming.
Marsh: Sub-prime mortgage crisis could lead to claims increase
Marsh is warning the European financial services sector, including insurance companies, that they may be exposed to greater Directors’ and Officers’ Liability and Errors and Omissions (E&O) liability claims in the wake of the sub-prime mortgage crisis in…
AIR: Typhoon Sepat won't produce large losses
Modelling specialist AIR worldwide has said that it does not expect Typhoon Sepat, which hit Taiwan on Saturday 18th August to produce large insured losses.
The Liability Network creates separate divisions
The Liability Network has created two separate divisions: tln casualty and tln special risks, to better service the liability market.
QBE group profits rise 56%
QBE has announced a 56% increase in net profit for the half year to 30 June 2007 to a record $921m (£372m).
Hiscox announces £733m GWP
Hiscox released its interim results for the six months ended 30 June 2007.
Hurricane Dean will become cat 5
Category 4 Hurricane Dean was located about 50 miles south of Kingston, Jamaica as of 5:00 PM EDT. Maximum sustained winds are 145 mph—unchanged from this morning. Minimum central pressure has risen very slightly to 930 mb.
Lancashire CFO cashes out 84% of stock for $975,000
Class of 2005 Bermudian (re)insurer Lancashire has disclosed that its chief financial officer Neil McConachie has sold 148,025 of his shares in the company at a price of 332 pence each.
Indie whiteboard claims not typical, actuary claims
Whiteboard claim delays were not typical of insurance companies, said Watson Wyatt actuary Mark Trayhorn in his fifth day on the witness stand, writes Olivier C Laurent .
Amicus Legal expands ATE horizons
Amicus Legal has introduced two policies called Amicus Legal Justice, and Amicus Legal Justice Plus, which will include a deferred premium funding facility.
JLT beats Lockton to major contract
The Motor Sports Association - governing body of UK motor sport - has appointed Jardine Lloyd Thompson to handle all its insurance requirements from the start of 2008 following a formal tender process earlier this year.
MMA continues commercial push
MMA Insurance has today announced the addition of its Shops product onto the Acturis broker platform as part of its ongoing growth in commercial lines business.
Link brand to dissapear as GHL merges insurers
GHL Europe, the holding company for the European businesses of Caribbean-based financial services group Guardian Holdings Limited, today announced its intention to bring together its two insurance companies to create a single Gibraltar based insurer…
MMA adds Shops product to Acturis platform
Intermediary-only insurer MMA Insurance has announced the addition of its Shops product onto the Acturis broker platform as part of its ongoing growth in commercial lines business.
LV gears up for online push
LV today unveiled its new website, LV.com, following itys rebranding from Liverpool Victoria. It will support the move with another high profile advertsising campaign this autumn.
Fortis reports 14% increase in GWP
Fortis Insurance, UK, reports 14 per cent increase in GWP (£383 million) for first half 2007.
Witness did not merely crunch numbers, claims Lomas' QC
Mark Trayhorn’s actions as an actuary for Independent were called into question as the court was told his role involved being “rather more than a statistiscian,” writes Ed Vinales .
Witness cross-examined
The defence counsel for Michael Bright attempted to discredit Watson Wyatt actuary Mark Trayhorn by asking why he hadn’t studied a gross case development report, the court heard today, writes Ed Vinales .
New online system launched
Infinity Insurance Solutions has launched an new online system for brokers to quote and issue all types of travel insurance.
Floridian insurers denied rate requests
The Florida Office of Insurance Regulation has denied the rate requests of three companies for not substantially lowering their property insurance rates.
Hardy chair hails "remarkable" result
Lloyd's insurer Hardy today indicated that it may grow its syndicates' capacity modestly for the 2008 year of account.
Weather claims hit Zurich for $566m
Zurich this morning said the UK storms and floods were largely to blame for a 2 point increase in its global general insurance combined ratio to 96.5%.
Nothing wrong with 'little white lies' on job applications say employees
Two-thirds of employees have admitted to lying on their CVs, according to a survey of workers. Empl...