News
Driving test overhaul mooted by Ladyman
An "overhaul of driver training and testing" was announced by Road Safety Minister Dr Stephen Ladyman at the Royal Society for the Prevention of Accidents' Road Safety Congress this afternoon.
Car dealer avoids FSA fine for PPI miss-selling
The Financial Services Authority has today imposed a public censure on Cathedral Motor Company for failures relating to its sale of Payment Protection Insurance in connection with vehicle finance agreements.
Lawyer warns construction industry over environmental negligence risk
Architects, engineers and other construction professionals who ignore the potential effects of climate change risk the threat of negligence claims, warns City law firm Reynolds Porter Chamberlain.
Davies appointed ops director at Aegis London
Aegis London, the UK-based subsidiary of Aegis (Associated Electric & Gas Insurance Services Limited), has appointed Sarah Davies as operations director.
Hannover Re completes Merlin €1bn R/I recoverables securitisation
Hannover Re has claimed a first in transferring the risks deriving from so-called reinsurance recoverables to the capital market.
Claimant lawyer network receives Law Soceity waiver
LawAlliance, the UK-wide network of specialist personal injury claimant lawyers, has received a special waiver from The Law Society boosting the benefits to claimants and LawAlliance members using the InterResolve Bodily Injury Claims Scheme.
SCOR moves to formal tender for remainder of Converium
SCOR has announced a tender offer for Converium’s outstanding shares.
Allianz Cornhill warns of rising tribunal awards
New compensation limits for Employment Tribunals mean that firms are exposed to increasing claims costs, warns Allianz Cornhill.
Lloyds TSB Insurance profits up 16%
Reporting alongside Lloyds TSB Group, Lloyds TSB Insurance today reported a £34m or 16% increase in Profit Before Tax to £243m in 2006.
Allianz Cornhill tackles work-related illness with new employee health promotion
Allianz Cornhill has launched a health promotion scheme, which aims to boost the physical and mental health of the company's 4,000 employees.
Petplan strengthens ties with Brooks Braithwaite
Pet insurance provider, Petplan, has strengthened its alliance with broker Brooks Braithwaite with an arrangement that will see them administering all the new and existing policies for boarding kennels and catteries.
Lucas Fettes appoint senior placing broker
Senior placing broker, Kevin Dower has joined insurance and financial specialists, Lucas Fettes and Partners as part of their continued expansion.
Limit reports 82.1% combined ratio
Limit, the largest manager and second largest provider of capacity at Lloyd’s, has announced its combined ratio for 2006 was 82.1%, an improvement of more than 12 percentage points.
RenRe funds 'Wall of Wind' hurricane damage research
Florida International University's International Hurricane Research Center (IHRC) and WeatherPredict Consulting, a US affiliate of Bermudian reinsurer Renaissance Re have announced they are to develop new wind damage research under the banner …
Employer warning ahead of mobile change
From the 27 February new legislation will impose a £60 fine and three penalty points for any driver caught using a hand-held mobile phone whilst driving.
Groupama in Optima move
Groupama Insurances has changed the cover, pricing and availability of Optima Bike – its tailored motorcycle insurance product - following a detailed review of the policy in 2006.
Advent returns to strong profitability in 2006
Advent returned to strong profitability in 2006, benefiting from a benign year for catastrophes, with an after tax profit of £15.4 million and producing a good return to shareholders with a return on equity of 24.0%.
Arc expands Police's protection cover
Arc Legal Assistance (Arc) has claimed it now provides legal protection cover for 1 in 3 members of Police Federations in England and Wales, having been appointed on a further four schemes.
QBE sees 36% rise
QBE Insurance group has recorded operating profit after tax of $1,483m for the year ended 31 December 2006, an increase of 36% over the previous corresponding year.
Aviva profits could hit £3.5bn according to analysts straw poll
Aviva plc is to announce its 2006 preliminary results on Thursday 1 March 2007 at 0700 GMT.
Marsh and Company appoints chief executive
Commercial insurance broker Marsh & Company has announced the appointment of Rob Marsh to the newly created role of chief executive officer.
ITMU expands UK liability operations
Soon to celebrate its fifth anniversary ITMU (International Transport & Maritime Underwriters) is expanding its UK operations.
Peter Gluckstein joins Mondial UK
Mondial UK has appointed CRM expert, Peter Gluckstein. Prior to joining Mondial, Mr Gluckstein had retired from Direct Dialog, a B2B and B2C lead generation and direct marketing agency.
Aon warns businesses on environmental exposures
In the wake of the EU’s draft environmental crime directive, Aon is urging businesses to ensure that they have the appropriate systems in place to manage their potential environmental exposures. The directive could see companies facing fines of up to €1…