News
IRDA relaxes residence requirements for micro-insurance buyers
India's Insurance Regulatory and Development Authority has relaxed a rule requiring micro-insurance applicants to provide a confirmation letter from their bank, describing it as a barrier to financial inclusion.
Co-operative Bank fined over PPI claims handling
The Financial Services Authority has fined The Co-Operative Bank £113 300 for failing to handle payment protection insurance claims fairly.
April Group to hire Orkney-based business consultant
The UK arm of France's April Group is looking to appoint a permanent business consultant in the Orkney Islands after growing demand for its medical and income protection policies.
Zelle Hofmann opens London office
Law firm Zelle Hofmann Voelbel & Mason is opening a London office in January to address the growing needs of clients in the London and European insurance markets.
Reinsurers back Zurich quake bond
Munich Re and Swiss Re have acted as joint lead structuring agents in a $270m (£166m) catastrophe bond transaction that transfers North American earthquake risk to the capital markets, on behalf of Zurich Insurance Group.
Zelle Hofmann launches London operations
US law firm Zelle Hofmann Voelbel & Mason has opened its first London office in a bid to target the London and European insurance markets.
Former Swiftcover exec Reames departs Axa
Robin Reames has become the latest Swiftcover founder to walk away from Axa, following the news that he will today leave the firm where he holds the position of personal lines chief claims officer.
Crawford & Co appoints US P&C chief executive
Crawford & Co has named former Cunningham Lindsey US president David Repinski as its new property and casualty CEO for operations in the US.
United India to boost salesforce
United India Insurance Company will recruit 7,000 agents in the next three months, the firm's managing director told local press.
Filipino insurers struggling with regulation and solvency requirements
Thirty-two insurers and mutual benefit associations in the Philippines are under various stages of conservatorship, receivership or liquidation, according to the country's Insurance Commission.
IAIS finalises policy for 'too big to fail' insurers
The International Association of Insurance Supervisors is finalising policy proposals for the risk management of globally systemically important insurers, or G-SIIs, commonly referred to as ‘too big to fail’.
At least 20% of cars in India thought to be uninsured
Almost a third of cars on Indian roads may not have mandatory third-party liability insurance, according to analysis by insurance companies.
US nat cats push global insured losses above 10-year average
Munich Re has called for greater loss prevention measures to be taken in the US, which saw 90% of worldwide insured losses in 2012.
Woodring to succeed Sorensen as IIS chairman
The International Insurance Society has appointed Greig Woodring, president and chief executive of Reinsurance Group of America, as chairman elect.
Israeli bank could sell whole Migdal stake
Israeli bank Leumi has begun selling its nearly 10% stake in Migdal Insurance and Financial Holdings to institutional investors, Reuters said on Thursday, quoting a market source.
Gable is likely takeover target, says investment bank
Gable's appointment as a Towergate trading partner in December is "further evidence that it has established itself as an accepted provider of insurance products", according to Panmure Gordon, which has listed the Lichtenstein-domiciled insurer as its …
ECIC launches roofing contractor scheme
The Electrical Contractors' Insurance Company has developed a new product for certified roofers and industry body members.
Arista scheme targets £400 000 premium in first year
Arista Insurance has set up a scheme with Merseyside broker Business Insurance Services.
LV legal fight sees man who invented collision jailed for eight months
A county court judge has warned contrived collision fraudsters to "take heed" after jailing a driver who attempted to claim for a car accident that never happened.
Flood brick entrepreneurs win Defra funding
The inventors of a flood brick designed to replace sandbags and defend homes from flooding have been awarded more than £44 000 by the Department for Environment, Food and Rural Affairs.
Munich Re invests in French onshore wind farms
Munich Re has invested in 32 French wind farms via its asset manager MEAG.
Catlin backs ticket cancellation product
Catlin is underwriting a ticket cancellation product for PH Hotels.
Open GI promotes customer service lead
Systems provider Open GI has expanded the role of its customer service head in a bid to bolster services.
ABI boss Thoresen resumes flood talks with Cabinet minister Letwin
Association of British Insurers director general Otto Thoresen is locked in talks today with Oliver Letwin, the Cabinet minister responsible for co-ordinating government policy, with a view to finally identifying a future flood risk solution.