News
Irish health insurer VHI signs deal with Berkshire Hathaway
State-owned Irish health insurer VHI has signed a €700m deal with US investor Warren Buffet’s company Berkshire Hathaway.
Apil welcomes much-awaited mesothelioma consultation
Claimant lawyers have welcomed the opportunity to speed up the resolution of mesothelioma cases following the release of a consultation on these claims.
Perils publishes Maximum Flood Extent Map for European floods
Perils AG, the independent Zurich-based provider of industry-wide catastrophe insurance data, today released its Final Maximum Flood Extent Map for the floods which affected Central Europe in June 2013.
Fraud costs the industry £1.1bn a year
Fraudulent insurance claims uncovered by insurers have topped £1.1bn a year as the industry’s clampdown on insurance cheats intensifies, according to a figures by the Association of British Insurers.
A quarter of global economic losses in H1 covered by insurers
Around 24% of global economic losses of $85bn during the first half of 2013 were covered by insurance, according to Aon Benfield’s Impact Forecasting centre.
Aon analysis shows 24% of H1 losses covered by insurance
The $20bn (£13bn) total of insured losses for the first six months of the year was approximately 20% below the 10-year average of $25bn (£16.3bn), according to Aon Benfield’s Impact Forecasting centre.
Willis UK in single digit dip as group organic growth increases
Willis’ UK operation experienced a single digit decline in the second quarter, amid a backdrop of the group-wide organic commissions and fees growth of 6.3%.
$20bn of natural disaster insured losses in first half of 2013
Global natural disaster losses during the first half of 2013 on both an economic and insured basis were each below the recent 10-year (2003-2012) averages according to Impact Forecasting.
79 killed in Spanish train crash
A train derailed near the town of Santiago de Compostela in North-western Spain on the evening of 24 July killing at least 79 people and injuring up to 131.
SSP attributes growth to revenue model change
Technology firm SSP has said its growth in recurring revenues is a direct result of scrapping large upfront licence costs.
Keoghs increases fraud savings by 26%
Counter-fraud legal services provider Keoghs said today it helped insurers avoid paying £156m on suspected fraudulent claims in its last financial year – a 26% increase on 2012.
Portal extension should include multi-defendant claims, argues Zurich boss
Multi-defendant disease and deafness claims should be included in the extended road traffic accident portal, according to Zurich’s casualty claims director Karl Helgesen.
DLG’s Tom Woolgrove new CII president
Direct Line Group’s Tom Woolgrove is to take over from Amanda Blanc as president of the Chartered Insurance Institute, following an election at the organisation’s annual general meeting.
Hiscox launches online insurance platform in Germany
Hiscox started offering insurance in Germany via a direct and online insurance offering.
Hiscox expands in Germany with online platform
Hiscox has launched a new direct and online insurance offering in Germany, aimed at businesses with up to €2.5m annual revenue in knowledge-based professions including IT, management and business consulting.
Zurich launches policy validation unit for brokers to help tackle fraud
Zurich has launched a dedicated policy validation unit in a bid to help personal lines brokers tackle fraud at the quote stage.
FCA will act on 'competition mandate' Wheatley warns
The Financial Conduct Authority’s plan to drive effective competition in all financial services markets is the biggest break with the old regime, chief executive Martin Wheatley said today.
FCA puts competition at the heart of new regime
Ensuring that there is effective competition in financial services markets is the most significant change to the Financial Conduct Authority’s new regulatory regime, chief executive Martin Wheatley said today.
Solvency II voted biggest regulatory challenge by EMEA insurers
Over 90% of insurers in Europe, the Middle East and Asia view Solvency II as the biggest regulatory challenge facing their organisation, according to a study by the Economist Intelligence Unit.
Solvency II is "biggest challenge" for 90% of EMEA insurers
Solvency II tops the list of the biggest regulatory challenge for insurers in Europe, the Middle East and Asia, according to a study by the Economist Intelligence Unit.
The Insurance Fraud Awards shortlist 2013
Growing once again in popularity, the fifth annual Insurance Fraud Awards received a record number of entries and we are delighted to announce the shortlist.
Volvo AEB system sparks reduced premiums for drivers
Volvo claims that its autonomous emergency braking system could save motorists up to £160 per year on their car insurance premiums, after the manufacturer declared the system will be fitted on most new models.
SSP revenues in marginal decline amid 'sluggish market'
Technology firm SSP’s annual results reveal a fall in revenue to £70.7m (2012: £71.7m) for the 12 months ended 31 March 2010.
Ghost broking battle gains impetus as Gumtree closes insurance platform
Brokers welcome the decision to dispense with the category