News
Editor's comment: Causing tremors in the industry
You don’t have to look far for evidence that a ‘blame culture’ is spreading in our society, but there are surely few examples as alarming as the manslaughter convictions of six Italian scientists who failed to predict that a deadly earthquake would…
ILGS ignores what claimants do with damages, says Kennedys
The current use of index-linked government stock ignores the reality of what claimants do with their damages, according to law firm Kennedys.
Argo expands treaty offering with Lloyd's platform
Argo Group International Holdings is expanding its offerings in the international casualty marketplace with treaty reinsurance business written through Lloyd's.
Willis sees Q3 net income halved
Willis' financial results for the third quarter show a drop in net income of more than half.
Metal thefts from churches fall 60%
Ecclesiastical has claimed a victory in the battle against metal theft after recording a 60% drop in the number of insurance claims for the theft of lead and other valuable metals.
Willis Q3 results hit by disposal of Indian operation and JV settlement
Willis has revealed that its third-quarter net income was hit by an $11m charge related to a settlement with a former joint venture partner in India and the related $1m loss on disposal of the India operations.
Chinese insurers given green light to invest in 45 new countries
China's Insurance Regulatory Commission has widened overseas investment options for its domestic insurance sector.
RMS heralds Insurance Institute of China appointment
RMS Beijing has been appointed as a member of the Insurance Institute of China by the eighth board of directors, with RMS' Dr Hang Gao serving as a new director.
Spencer aims for consistency at Aviva
Robin Spencer, Aviva's recently appointed chief executive of general insurance in the UK & Ireland, has outlined his desire to bring stability and growth to the business.
DLG to axe 100 IT roles as part of annual cost savings plan
Direct Line Group has confirmed that approximately 100 jobs will be lost across its IT function, as the firm's £100m annual cost savings drive begins to take effect.
ABI hits back at Apil "sniping" at industry efforts on historic policy tracing
The Association of British Insurers has accused the Association of Personal Injury Lawyers of "sniping from the side-lines" in the insurance industry's efforts to help trace historic employers' liability policies.
Foil boss brands ERR Bill amendment criticism "absurd"
Apil president Karl Tonks’ proclamation that the government amendment to the Enterprise and Regulatory Reform Bill has set back health and safety laws in Britain by 100 years has been branded “absurd” by the Forum of Insurance Lawyers.
E+S Rück predicts stable prices for German renewals
E+S Rück, the Hannover Re Group company responsible for German domestic business, anticipates stable or rising prices in the market for the upcoming treaty renewals on 1 January.
Cameron McKenna backs FSA Solvency II timetable change
City law firm Cameron McKenna has commended the Financial Services Authority for adapting its implementation timeline for Solvency II.
French motor market to shift following annuity policy change
The re-evaluation of motor annuities by the French government will create long-term challenges for French motor insurers, according to Willis Re, the reinsurance arm of broker Willis Group.
Flagstone Re announces Validus EGM date
Luxembourg-domiciled Flagstone has announced a shareholder vote on an acquisition by Validus.
Personal injury specialist rebrands as Pudsey Legal after being given ABS status
Leeds-based personal injury specialist Kayes Solicitors has revealed that as of 1 November it will become one of the first alternative business structures in Yorkshire.
NFU launches "multimillion pound" paperless drive
NFU Mutual is seeking to streamline claims management by eliminating paper systems.
SRA publishes referral fee ban consultation paper
The Solicitors Regulation Authority published a consultation paper this afternoon on the ban of referral fees in personal injury cases.
E-Underwriting signs up to web platform
Gallagher-owned E-Underwriting has signed up to Keelan Westall's web-based Dynamic platform for residential property risks.
Guernsey hails growth in insurance licences
The Guernsey Financial Services Commission has licensed 107 new international insurers in the past 12 months, according to figures from the Guernsey financial services regulator.
FSA changes Solvency II compliance timetable
The Financial Services Authority will work on firms' Solvency II internal model approval until 31 December 2015.
Western sanctions threaten to halt Iran's shipping industry
Western sanctions are jeopardising Iran's vital shipping industry, and the country's biggest cargo carrier will face serious problems if the pressure continues, according to the head of the Islamic Republic of Iran Shipping Lines.
UK regulator allows more time for Solvency II implementation
The Financial Services Authority has given insurers more time to get ready for Solvency II, anticipating that disagreements over the final rules could delay its introduction by two years.