News
JLT joint venture eyes India as South Asia hub
Joint venture JLT Independent Insurance Brokers in India could become hub for South Asia.
Quindell deputy chair quits Financial Reporting Council
Quindell’s newly appointed deputy chairman has resigned his position on the Financial Reporting Council with immediate effect.
Airmic welcomes Insurance Bill warranty amendment
Risk management association Airmic has welcomed the reinstatement of a clause in the Insurance Bill that means insurers can deny cover for warranty breaches only if they are relevant to the risk.
Towergate confirms £1 creditor bid
Towergate has confirmed receipt of a bid from debtholders to buy the embattled broker for its total debts and interest, plus £1.
Money Supermarket sees revenues jump 10% in 2014
Price comparison website Money Supermarket expects to report a 10% increase in revenues to £248m for the 2014 financial year, with adjusted Ebitda expected to grow by 13% to approximately £95m.
Reserve Bank of India confirms bank broker rules
Banks wanting to take up insurance broking have been given the green light by the Reserve Bank of India after legislation passed in 2013.
QBE's outlook revised to stable
Australian (re)insurer QBE's ratings outlook has been upgraded after taking a number of capital measures.
Sydney hostage siege declared as terrorist act
The hostage crisis that left two dead in central Sydney on 15-16 December has been declared a terrorist act meaning insurers will pay compensation to businesses.
Zurich CRO calls on regulators to boost innovation
Financial regulators need to encourage innovation, rather than stifle it, in order for companies to respond to high-level global risks, according to Zurich's chief risk officer.
Insurers urged to look beyond underwriting when assessing telematics benefits
Insurers are squandering the benefits of greater data access by failing to recognise benefits beyond underwriting, according to Wunelli director Sandy Dunn.
International conflicts biggest threat to global stability
The biggest threat to the stability of the world in the next 10 years comes from the risk of international conflict, according to the 10th edition of the Global Risks report published by the World Economic Forum.
ABI reaffirms two-thirds of industrial deafness claims are rejected
The Association of British Insurers has backed analyst claims that the industry is repudiating roughly two-thirds of industrial deafness claims, despite some firms suggesting rates north of 80%.
Alan & Thomas grows regional footprint with purchase of Hampshire broker
Poole-based broker Alan & Thomas Insurance Group has increased the gross written premium it controls to more than £30m following the acquisition of Hampshire intermediary Bennetts Commercial.
Biba appoints young broker steering group
The British Insurance Brokers’ Association has launched a Young Broker Steering Group with the aim of providing guidance and resources to younger brokers.
16% of Britons ‘horrified’ by driverless cars
Almost half of British adults would be unwilling to be a passenger in a driverless car while 16% are “horrified” by the idea, according to research from Uswitch.
Saga launching motor panel to expand customer base
Saga has created a new panel of motor insurers to build out its client base, while also plotting to double takings from its travel business.
RMS partners with China Re's Lloyd's venture
Risk modeling firm RMS will support China Re’s Syndicate 2088 the first Chinese direct investment into Lloyd’s.
57 flood warnings issued across UK
Environment agencies for the UK have issued a barrage of flood warnings as the country continues to suffer the impact of Storm Rachel.
Aviva names Morris as HNW commercial director
Aviva has promoted its personal lines head of retail underwriting and pricing to a newly created role as high net worth commercial director.
Asia-Pacific risk managers concerned over increased competition
Increased competition more important but regulation less of a concern in Asia-Pacific last year compared to 2013 according to the latest Allianz Risk Barometer.
Brisbane hailstorm claims top A$1bn
100,223 property and motor claims have been lodged as a result of last November's freak Brisbane hailstorm.
Home businesses call for insurer partners to offer advice
Around 145,000 home-based business owners do not have business insurance because they believe their commercial activities are covered under their home insurance policy, according to Direct Line for Business.
More Than exploring pet telematics offering
More Than is considering a telematics-type offering for pets with a view to launching a product later this year.
Third arm-sized bolt fractures on Cheesegrater
The owner of the recently opened London home for Aon and Amlin has admitted that a third steel bolt has fractured on the building, and that it will launch a replacement programme.