News
FSA reports discrepencies between brokers and insurers over contract certainty
The Financial Services Authority has said that it will make a "final assessment" on whether the market has suceeded in meeting its challenge to end the practice of 'deal now, detail later' in January.
Law Commission may abolish consumer disclosure duty
The Law Commission is considering the abolition of the duty of disclosure, at least for consumers, under major proposals to overhaul current insurance contract law.
Ex L&G fraud boss to join VFM
Nick Sugden, formerly head of fraud management at Legal and General Insurance, is joining VFM Services in the role of business development manager on 1 October.
Alexander Forbes promotes Mitchell in Manchester
Alexander Forbes has appointed Peter Mitchell as the new head of its Corporate Risk Solutions division in Manchester.
2,000 to go by 2008 in Swiss Re-GEIS cull
World number one reinsurer Swiss Re has announced a programme of up to 2,000 job cuts worldwide by the end of 2007 as part of its bid to squeeze annual savings of $300m from its merger with GE Insurance solutions.
Former Axa UK boss joins Liv Vic board
Liverpool Victoria has appointed Mark Austen and Dennis Holt as non-executive directors, with immediate effect.
Sterling hires Pritchard as COO
Sterling Insurance Group has appointed Tony Pritchard as director and chief operating officer. Tony will lead the operational areas of the group including customer services, information technology and business support.
Marsh appoints northern regional sales leader
Marsh has appointed a new northern regional sales leader to boost development in the North of England and Scotland.
Swinton signs £70m refinance deal
Manchester-based broker Swinton has appointed Lloyds TSB Corporate Markets to provide its operational banking facilities.
Hardy buy-out approved by Lloyd's
Hardy Underwriting Group has announced that the Council of Lloyd’s has approved the application for consent to make a minority buy-out of the third party capacity currently remaining on Syndicate 382.
Announcement from Hastings Insurance Services
Hastings has announced, with deep sadness, that group financial controller, Duncan Ayre, has passed away after a short period of illness.
FSA fines former chief executive for failings leading to client money rule breaches
The Financial Services Authority (FSA) has today fined Paul Harrison, former chief executive of insurance broker Berry Birch & Noble Insurance Brokers (BBNIB) £17,500 for failing to implement proper systems and controls to ensure that customers' money…
Ordnance survey presents geographical intelligence tools
Insurers' ability to price risk with high-precision geographic information (GI) at their fingertips was a key focus of an exclusive industry seminar at the Lloyd's Building.
Oval completes 12th acquisition
Oval has bought the book of business of broker Wilkinson Rodgers in Huddersfield. It is the group’s 12th acquisition in just three years.
FSA slaps five-figure fine on former BBNIB boss Harrison
The Financial Services Authority has fined Paul Harrison, former chief executive of insurance broker Berry Birch & Noble Insurance Brokers £17,500 for failing to implement proper systems and controls to ensure that customers' money held by the firm was…
Price Forbes completes MBO from Marsh
Lloyd's broker Price Forbes & Partners, has completed a management buy out from its parent Marsh. Price Forbes & Partners is now a wholly owned subsidiary of PFIH Limited, a newly incorporated investment holding company that is owned and controlled by…
Bermuda firm launches Lloyd's investment vehicle
An investment vehicle is being established by Syncro, a Bermuda based company, to allow Lloyd’s managing agencies to increase their underwriting access to additional capacity at any point in the underwriting year.
Bollington confirms FM Green talks
The Bollington Group is in talks to acquire FM Green & Company Insurance Brokers, as revealed in Post Magazine yesterday. The two companies have signed Heads of Agreement, and the due diligence process is underway.
No-win-no-fee libel actions criticised
Andrew Sellers, UK & International TMT Claims Manager at Hiscox Insurance Company has called for the reform of the conditional fee agreement (CFA) in defamation cases. Speaking at the 5RB media and entertainment law conference, held yesterday, 21…
Allianz appoints British worker to board
An Allianz Cornhill employee has been elected to the group-level Allianz board in Gerrmany.
SSP to float
Broker software company SSP is set to float on the stock exchange, according to papers filed with the London Stock Exchange.
Hastings denies sale
Hastings Insurance Services has denied it has been sold.
Heritage unveils first half 2006 figures
Heritage Underwriting made a profit before tax of £3.2m for the first half of 2006, down slightly on the £3.4m it made over the same period of 2005.
Increased risk exposure in public sector
Public entities today are increasingly exposed to types and levels of risk that they have not had to consider before, according to Marsh.