News
Insurance Council of Australia: Tasmania fires the 'start of what's to come'
The Insurance Council of Australia has warned that the country could be in for a difficult fire season, after fires ravaged Tasmania and the mainland and caused tens of millions of dollars in insured losses.
In-demand Digital Animal resists buyout offers as insurers form queue
An emerging digital marketing firm claims that it has rejected several buyout proposals from insurers after reporting an "unprecedented rise" in the number of industry players contemplating social media-driven distribution channels.
European Parliament clamps down on rating agencies
Rating agencies are to have their shareholdings in rated firms capped to reduce conflict of interest under new rules approved by the European Parliament.
Insurers should have been prepared for 2011 cat losses, says AIR
Insured losses in 2011 from global natural catastrophes exceeded $110bn, according to industry sources, the second highest figure ever recorded.
Insurance industry 'not ready' to scrap motor insurance certificates
Direct Line Group has backed the views of insurance industry bodies calling for more research before the government pushes ahead with proposals to scrap motor insurance certificates.
Two thirds of German homes not covered for natural hazards
Over two thirds of householders in Germany are not insured against damage by extreme weather conditions, according to Munich Re's primary insurance arm Ergo.
Browne Jacobson poaches DAC Beachcroft partner Roberts
Defendant personal injury law firm Browne Jacobson has appointed former DAC Beachcroft partner and operations manager Ailsa Roberts as a partner.
Loophole allows Iran to charter India-insured vessel
The National Iranian Tanker Company has chartered a vessel covered by India's state-owned insurers, taking advantage of a loophole in the policy.
Piracy falling but seas off East and West Africa remain dangerous
Piracy on the world's seas has reached a five-year low, with 297 ships attacked in 2012, compared with 439 in 2011, the International Chamber of Commerce International Maritime Bureauglobal piracy report revealed today.
Rising kidnap risk amid Eurozone unrest
The rising risk of abductions as a result of social unrest in the Eurozone is creating opportunities for insurers specialising in kidnap and ransom policies.
Insurance "integral" to improving global food security
Agricultural insurance is "indispensable" for managing agricultural risks, and key to increasing agricultural production, according to Swiss Re.
RSA unveils commercial crime protection policy
RSA has launched a commercial crime protection policy which provides insurance for businesses against fraud, dishonesty or malicious acts.
RSA names head of sold Dutch Caribbean unit as Hong Kong CEO
RSA has appointed its former Dutch Caribbean boss as chief executive of the firm's Hong Kong business following the confirmation in December that it will sell the business to Fatum General Insurance.
Allianz GCS gets local reinsurer approval for Brazil
Allianz Global Corporate and Specialty has received approval from the Brazilian regulator to start operating as a local reinsurer in the country.
CNA Europe swoops for CFC technology lead
CNA Europe has appointed CFC Underwriting's former technology and cyber division lead as European underwriting director of technology.
FSA seeks PPI mis-selling deadline
The Financial Services Authority is in talks with the banking industry to set a deadline for customers being able to claim for the mis-selling of payment protection insurance, according to reports.
RSA appoints Walker as Hong Kong chief executive
RSA has appointed former head of Dutch Caribbean operations Mark Walker as chief executive in Hong Kong.
Emerging Asia to lead life insurance growth, says Swiss Re
Reinsurer believes life insurance premiums will grow by about 10% in real terms this year in emerging Asia.
Regulator warns Chinese insurers
The China Insurance Regulatory Commission has sent 19 insurers a warning to stop breaching regulations.
Starr's Asia plans boosted by AIG hire
Maurice 'Hank' Greenberg's insurance group Starr International has appointed Jeffrey Hayman as president of international insurance operations.
MicroEnsure targets Asia with Telnor JV
MicroEnsure has formed a joint venture with mobile operator Telnor, with the aim of providing microinsurance products to four than four million people in Africa and Asia.
IFIC's Gracey departs for US counter-fraud firm
Bobby Gracey has left his role as chief executive of forensics investigators International Fire Investigators and Consultants after 12 months to join a US-based fraud management firm.
Insurers urged to address compliance issues ahead of incoming Act
DAC Beachcroft has warned insurers to prioritise a review of compliance details, after The Law Commission confirmed that the Consumer Insurance Act 2012 will come into effect on 6 April.
Gibraltar government recruits former Ace chief
Michael Ashton, formerly chief executive of Ace global markets, has been hired as senior executive of Gibraltar's Ministry of Financial Services' finance centre department.