News
EC looks to define 'motorised vehicles' in MID to solve Vnuk exemptions
The European Commission is considering reviewing the definition of motorised vehicles in the Motor Insurance Directive to help avoid the need for vehicle exemptions following the Vnuk ruling.
ABI warns of changes to broker commission
It is “only a matter of time” before regulators start to make broker commission more transparent, the Association of British Insurers warned today.
China Pacific and Baidu to launch online insurer
China Pacific-owned China Pacific Property Insurance is teaming up with Chinese internet giant Baidu to launch an online car insurer.
Shanghai readies insurance exchange
The first Shanghai insurance exchange could launch as early as next week.
Working group launches review of revised rehab code
Industry bodies have begun a review into the revised rehabilitation code, six months after it went live.
Pet claims database to launch as fraud detection tool
A national record of pet insurance claims has been launched as a tool in the fight against fraud.
Airmic 2016: M&A plans should look at risk at an early stage
Insurance and risk should be on the table when companies merge, with the Association of Insurance and Risk Managers launching a guide for companies on the issue, in conjunction with Aon.
Airmic 2016: Risk managers concerned about broker conflicts of interest Airmic survey finds
Risk managers are increasingly worried about broker conflicts of interest and broker-controlled capacity according to the annual Association of Insurance and Risk Managers survey.
Airmic 2016: Scenario analysis guide launched for risk managers
Risk managers now have access to a ‘scenario analysis’ guide published by the Association of Insurance and Risk Managers.
Airmic 2016: Insurers are innovating but still have a long way to go
The insurance industry has been innovating now more than ever, but it still has some way to go before it is able to meet the growing demands of corporate customers.
Airmic 2016: Airmic publishes fair presentation clause
Airmic has published a clause to protect policyholders who innocently breach the duty of fair presentation introduced in the Insurance Act.
Driverless car insurance policy launched by broker Adrian Flux
The UK’s first driverless car insurance policy has been launched ahead of a government consultation this summer.
Cost to insurers from French floods could be €2bn
Damages from the floods affecting Paris and the surrounding areas could almost reach €2bn, one of the country’s biggest insurers has warned.
Aviva's Andy Briggs to replace Paul Evans as chair of ABI
Andy Briggs, CEO of Aviva UK Life and chairman of Aviva Global Life, has been nominated to take up chair of the Association of British Insurers.
Profits up 76% at venture capital group BP Marsh
BP Marsh has seen a strong growth in its profit after tax with the company taking in £8.7m in the year to January 31 2016, up from £4.9m for the same period last year.
Esure could split from Gocompare as review announced
Esure will examine a possible demerger from its price comparison site Gocompare as part of a strategic review.
Insurance Council of Australia declares catastrophe in Tasmania and Victoria
As the result of a deadly east low storm, the Insurance Council of Australia has declared a catastrophe in Tasmania and Victoria after a similar declaration in New South Wales yesterday.
European non-life sector profits under pressure as competition increases, says Moody’s
As interest rates are anticipated to remain low, ratings agency Moody’s says underwriting will need to be the focus as investment income faces increasing challenges.
Bluefin Network hires three for relationship teams
Bluefin Network has hired three new executives to join its broking and insurer relationship teams.
James Hallam added as registered broker at Lloyd’s
London-based broker James Hallam has added to its accreditation, taking up Lloyd’s broker status following its recent approval as a chartered broker through the Chartered Insurance Institute.
Risk managers ‘need to better understand cyber threats’
Risk management will have to further innovate to meet emerging cyber threats, the Airmic 2016 conference heard on Monday.
Hillsborough compensation ‘won’t be covered by insurance’
The taxpayer could face a bill of several million pounds from compensation payouts to the families of the victims of the Hillsborough disaster, Post can reveal.
Axa Insurance appoints Allison Hughes to head of business development
Axa Insurance has appointed Allison Hughes to the newly-created role of head of business development in order to better cater to corporate clients.
Pool Re’s new terror risk model to include nuclear threat
Pool Re will develop the UK’s first terrorism risk model to include the possible fallout of a chemical, biological, radiological or nuclear attack.