News
Helios grows underwriting capacity with Dumasco buy
Helios Underwriting has acquired Lloyd's limited liability member Dumasco for £2.5m.
Average UK motor premiums down £17 according to price index
Continuing pressure on car insurance prices for younger drivers has pushed the average cost of a comprehensive motor policy in the UK down by £17 to £579 during the second quarter of 2014, according to the car insurance price index from Confused.com and…
Only 6% of insurance execs believe Solvency II costs are ‘reasonable’
A survey conducted by Grant Thornton has revealed that only 6% of insurance industry executives described the costs associated with Solvency II are "reasonable".
Insurers and government consider risk cover for growing asset-sharing sector
Concerns raised over claims management companies approaching the industry
Brokers expected to prove worth after cut to minimum level of solicitors’ PI
ABI criticises SRA’s ‘misguided idea’ that reduction will lower premiums
Insiders expect Towergate exodus to help firm integrate Fusion business
Broker believed to be hit with FCA S166 order following client money failings
Insurers maintain opposition to young driver curfews despite public backing
Sources suggest long-delayed green paper on young driver safety could be revived
Banning pre‑med whiplash settlements is not cost-effective, insurers tell TSC
Insurers refute Mass claim that pre-med settlements invite fraud
Ghost broker who targeted Yorkshire's Asian community jailed
A ghost broker who sold invalid car insurance policies to more than 100 Yorkshire-based motorists was today jailed for fraud.
Beijing insurance research organisation launched
Two Chinese insurance industry bodies have set up the Beijing Insurance Research Institute to support the reform of China's insurance sector.
FSCS GI provision payments increase by £10m
The Financial Services Compensation Scheme paid out £90m in the general insurance provision class during 2013/14 - a £10m increase on the previous year, according to its annual report.
Premiums to account for 5% of China’s GDP by 2020
The growth of the Chinese insurance industry is set to continue apace, with the China Insurance Regulatory Commission forecasting that premiums will account for 5% of gross domestic product by 2020.
Ferma agrees risk manager certification scheme
The general assembly of the Federation of European Risk Management Associations has agreed a framework to create European certification for risk managers.
AmTrust offers premium savings to solicitors using risk reduction software
Solicitors who use risk mitigation software will be rewarded with discounts on their professional indemnity premiums under a new initiative by legal risk software house Lexsure and insurer AmTrust Europe.
DLG agrees equity investment in telematics firm The Floow
Direct Line Group has completed a 15% equity investment in specialist UK based telematics provider The Floow.
Motor customers paying up to 90% APR for monthly instalments
Motor insurance customers are being charged annual interest rates of up to 90% for choosing to pay in monthly instalments rather than an annual sum, according to research.
European Space Agency funds satellite subsidence initiative
The European Space Agency has backed a Property Assure initiative to use satellites to study subsidence risks.
RFIB recruits Howden’s Dyke for non-marine international ops role
Lloyd’s broker RFIB has swooped for Howden’s head of operations Richard Dyke to take on a role as non-marine international division operations manager.
ECIC launches construction gear theft cover
Specialist insurer Electrical Contractors Insurance Company has launched a new cover against theft of plant equipment used on construction sites.
Walsh PI rebrands as Triton Adjusting
Triton Global's adjusting division Walsh PI has rebranded as Triton Adjusting with immediate effect.
Officials warn of threats to life from Typhoon Neoguri
AIR Worldwide has issued an alert on the potential impacts of Typhoon Neoguri, expected to affect parts of Japan, including high waves, heavy rain and damaging storm surges.
Spencer joins NN Group as international insurance CEO
Former Aviva UK and Ireland chief executive Robin Spencer has been appointed chief executive of international insurance at NN Group.
Market pressures driving price decreases at July renewals
Market pressures at 1 July renewals are continuing to drive price decreases across most countries and lines of business, according to Guy Carpenter.
Capital investment sparks £1.2m tech upgrade at Bollington
Bollington Insurance Brokers has responded to demand for more interactive services by investing £1.2m in new software and call handling systems.