News
Flood Re 'devalued' by affordability fears claims CII broking group
Flood Re is “devalued” by a lack of proposals to address issues of affordable premiums according to a paper from the Chartered Insurance Institute’s new generation broker group.
Insurers facing 'fundamental issues' ahead of Solvency II implementation
Only half of insurers understand the full impact of Solvency II, according to PA Consulting Group, which claims the industry must overcome “fundamental issues” in order to be ready in time.
ABI GI boss Evans urges insurers to prepare for future challenges
Insurers should start preparing for future challenges impacting their business in the face of regulatory changes and an increased focus on digital, the Association of British Insurers’ policy director and deputy director general has said.
Lance Armstrong settles with US insurer over $3bn lawsuit
Lance Armstrong has reached a settlement with Acceptance Insurance in relation to performance bonuses paid to him between 1999 and 2001.
Cigna and British Money team up for new product
White-label insurance provider Cigna Insurance Services and British Money have partnered up to provide new protection product Universal Cover.
Cigna partners with British Money on new product
White-label insurance provider Cigna Insurance Services has partnered with British Money to provide protection product Universal Cover.
AGCS appoints key account manager
Allianz Global Corporate & Specialty has appointed Danny Turner as key account manager.
Ruling threatens brokers’ unidentified funds arrangements
Arrangements by brokers to deal with unclaimed client money could be threatened by a recent Commercial Court decision which calls into question proposals by the conduct regulator on credit write-backs.
Aviva app rates Norfolk drivers as among the least safe in the UK
Drivers in Norfolk are among the least safe in the UK, according to analysis from Aviva’s drive app.
Gallagher raising $200m for acquisitions
Arthur J Gallagher has revealed plans to generate up to $200m of cash through a stock sale announced last night.
Coface report highlights uneven growth in CEE markets
Most countries in Central and Eastern Europe are experiencing a slowdown in GDP growth, rising insolvency rates and high unemployment due to the economic crisis in the Eurozone, according to the latest Panorama report from credit insurer, Coface.
Former South African broker accused of fraud identified by UK students
An insurance broker who fled South Africa after being accused of committing £1.5m fraud has been identified by UK school students he taught in Cornwall.
Hyperion appoints David Jack as first CIO
Hyperion Insurance Group has appointed David Jack as its chief information officer – a new role for the business.
Generali sells Fata Danni to Cattolica for €179m
Italian insurer Generali has agreed to sell its agricultural risks business Fata Assicurazioni Danni to Cattolica for €179m (£149m).
Motor players facing 2013 profitability slump, claims report
Motor insurers are being dragged further away from profitability as a result of a combination of competitive pressure on pricing and firms over-estimating the impact of cost savings arising from civil litigation reforms.
Francis promoted to partner at Kennedys in Singapore
Law firm Kennedys' Nick Francis to become its fifth partner in Singapore.
Wong returns to AIG as senior advisor
AIG has appointed Stephen Wong as a senior advisor to provide strategic advice to AIG on business and industry developments in Hong Kong and Taiwan.
Zurich sells remaining stake in New China Life
Zurich has sold its remaining stake in New China Life for $943m with half of the shares being bought by Swiss Re.
Worldwide Broker Network hires PR manager to boost brand
WBN Appoints PR Veteran Howard Kalt to Direct Program Worldwide Broker Network has established a formal marketing communications function as it seeks to expand brand awareness.
BLM launches legal advice product for difficult claims
Insurance law firm Berrymans Lace Mawer has launched a legal advice product at a low fixed cost price, delivered within three working days.
Allianz’s former private eyes facing fine following conviction
Two rogue private investigators, who were hired by Allianz and other organisations between 2009 and 2010, have been found guilty of conspiring to breach the Data Protection Act.
AmTrust Europe Legal planning job cuts amid restructure
AmTrust Europe Legal has launched a restructuring process ahead of making a range of redundancies within its Manchester headquarters.
Ruling highlights the de-skilling of PI work
A recent ruling against Raleys Solicitors shows there is a need to balance process and legal expertise in personal injury work, according to Citadel Law.
Insurers must improve customer satisfaction, report warns.
Insurers and banks are being outpaced by the rest of the private sector in improving customer satisfaction, according to a report from the Institute of Customer Service.