News
Reinsurance rates softened at April renewals, says Willis Re
According to reinsurance broker Willis Re, reinsurance rates softened across all lines at the 1 April renewals including reductions of up to 20%.
ICA asks Australian financial inquiry to focus on regulation
The Insurance Council of Australia has asked Australia's Financial System Inquiry to focus on more efficient industry regulation, less restrictive prudential requirements and tax reform.
Chile earthquake damage expected to be limited
According to AIR Worldwide, several homes have been destroyed but overall there have been no major reports of damage from the 8.2 magnitude earthquake that struck off the coast of Chile earlier in the week.
AA survey highlights pothole 'crisis' as claims skyrocket
AA president Edmund King is calling on politicians to recognise the “crisis” impacting UK roads after a survey by his organisation showed that a rising number of motorists rate local roads as being in a ‘terrible condition’.
TSC chair Ellman raises ABS concerns
Select committee chair calls for ABS loophole scrutiny
Penny Speed Meets RSA global specialty lines director UK, Paul Greensmith
Super Speed Meets RSA global specialty lines director UK, Paul Greensmith
Mass concerned at court fee proposals
The Motor Accident Solicitors Society is concerned at the increasing cost of court fees following the release of a Ministry of Justice report today announcing a sliding fee scale for monetary claims.
Clayden pledges claims overhaul after axing quarter of solicitor panel
QBE’s claims director Dominic Clayden has told Post he will overhaul the insurer’s claims handling after completing a review that saw QBE shrink its solicitor panel by a quarter.
Foil names Northern Ireland executive representatives
Sean McGahan and Leonard Edgar have been appointed as Northern Ireland representatives to the executive committee of the Forum of Insurance Lawyers.
Keelan Westall adds three products to e-trading platform
Hampshire-based broker Keelan Westall has added three products to its residential risks e-trading platform including cover for blocks of flats and a new product for property owners.
RK Harrison sees 44% boost to 2012/3 pre-tax operating profits
RK Harrison has recorded a substantial year-on-year jump in pre-tax operating profits for the year ended 30 June 2013, with figures leaping from £15.8m to £23.7m.
CGSC boss Esser responds as firm's rating outlook slips
Cooper Gay Swett and Crawford chief executive Toby Esser has welcomed Standard and Poor’s decision to maintain its B credit rating, despite a challenging operating environment seeing the firm’s outlook slip to negative.
Bima set to expand in Asian and Lat Am markets
Emerging markets mobile insurer Bima has raised an additional $22m (£13.2m) to support its expansion into several new markets in Africa, Asia and Latin America.
Private healthcare report expected to boost market competition
The Competition and Markets Authority’s final report to revive the private healthcare market has today set out a series of legally binding actions to help promote competition among private hospitals and doctors.
Climate change outlook sparks calls for increased government flood spend
A report predicting a dramatic increase in European flood risk exposure due to climate change has prompted calls for the UK government to up its spending on flood defences.
Five dead as 8.2 magnitude earthquake hits Chile coast
A tsunami warning is in place for the Pacific coast after a 8.2 magnitude earthquake occurred last night around 80km off the coast of Chile.
Deakin insists retail CEO Blanc is in it for the long haul as AJG buys Oval
Commercial director hoping for third time lucky after Colosso and McManus exits
High-profile motor withdrawal touted after another tough year for the market
Analysts suggest further regulatory scrutiny could exacerbate sector’s troubles
Rehabilitation-only personal injury whiplash debate fails to gain traction
Insurers highlight claims time frames as area of major concern
Industry questions FCA’s decision to probe commercial claims handling
Regulator reveals more thematic reviews to be undertaken in 2014/2015
CHO boss says ‘self interested’ insurers are hampering fight against fraud
DAC Beachcroft estimates credit hire fraud is worth up to £75m a year
Gallagher to axe Giles brand in May
Arthur J Gallagher is planning to drop the Giles brand in two months, with the Oval name set to disappear further down the line, commercial director Janice Deakin has told Post.
Enstar completes Torus acquisition
Enstar Group has completed the previously announced acquisition of global specialty insurer, Torus Insurance.
Osborne slams FCA over leaked review details
Chancellor George Osborne has written to the Financial Conduct Authority to express frustration after the leaking of market sensitive details by the watchdog led to a sharp drop in insurer share prices, the Financial Times reported.