News
Ocaso rejects £50,000 claim due to policy holder withholding information
The Welsh assembly has criticised Ocaso Insurance’s refusal to pay out for a £50,000 flood damage claims, calling the decision ‘unreasonable’.
Court of Appeal finds insurers may only have to pay incurred reinstatement costs
Insurers may only end up paying for reinstatement costs that the insured has in fact incurred, the Court of Appeal has found.
RSA makes two senior appointments to its underwriting team
Robert Kemp and Leigh Langton have both joined RSA in senior underwriting positions within the firm’s Global Risk Solutions UK operation.
This week in Post: Scrooge, Vnuk and season's greetings
As Christmas day draws near lawyers this week branded the Association of British Insurers’ legal challenge over the government’s discount rate review as “worthy of Scrooge himself”.
Cunningham Lindsey appoints Aldrin Wong as Malaysia CEO
Cunningham Lindsey has appointed Aldrin Wong as CEO in Malaysia.
Greg Collins to become Miller CEO in January
Greg Collins will become CEO of Miller from New Year’s Day, the broker said.
Storm Barbara ‘could be first major test of Flood Re’
Home owners should take extra steps to ensure they have sufficient cover this Christmas owing to the risk of flooding from Storm Barbara.
RSA urges government to support SMEs
Over half of UK SMEs think the government is not doing enough to help businesses grow, with seven out of 10 expecting their revenues to fall or stand still in 2017.
Helios to acquire Lloyd’s underwriter Pooks
Helios will acquire Lloyd’s underwriter Pooks Limited for £870,659.
Acuity to acquire Pro for £8.3m
Private equity firm Acuity Investment is planning to acquire Pro Global Service’s service provider business Pro for £8.3m.
Government mulls mandatory registry for drone users
Drone owners could be forced to register their devices under consultation plans released by the government today.
Ex-LV employee sentenced for bribery
A former LV employee and an employee from a claims management company have been sentenced to 12 months in prison for bribery.
S&G under investigation by Australian regulator
Troubled law firm Slater & Gordon is being investigated by the Australian regulator.
Half of PI law firms to close if whiplash reforms go through
Over half of personal injury lawyers will be forced to shut down if the government’s proposed whiplash reforms go through.
Biba to meet business leaders affected by last year's floods
One year on from storm Eva, the British Insurance Brokers’ Association is set to meet businesses affected by last year’s floods in Cumbria.
Government consultation on Vnuk may change the definition of a vehicle
The government has begun a 14-week consultation to determine whether the current definition of a vehicle should be extended.
Beazley investor sells £2.34m shares
A major shareholder in Beazley has disposed of £2.34m of shares in the company.
Lawyers condemn ABI's 'Scrooge-like' discount rate legal challenge
Lawyers have branded the Association of British Insurers’ legal challenge over the government’s discount rate review as “worthy of Scrooge himself”.
Liquidator to Gable appoints run-off manager
The liquidator of Gable has appointed Enstar as run-off manager.
Dual financial lines pair take on ‘entrepreneurial’ role at Acapella MGA
Two senior underwriters from Dual have joined Acapella to launch a managing general agent business specialising in diverse financial lines.
European insurers paid out €2.7bn a day last year
Europe’s insurers paid out a total of €975bn (£818bn) in claims and benefits over the course of last year, the equivalent of €2.7bn (£2.27bn) per day.
London Market faces 'bleak' year ahead
The London Market faces a "bleak" year ahead based on swingeing underwriting losses, PWC warned.
Home and motor insurers to end 2017 in the red, EY warns
Home and motor general insurers are likely to face significant losses in the coming year, EY said.
Five jailed in £1.1m crash for cash scam
Five men were given jail terms last week in connection to a £1.1m crash for cash scam.