News
Consultation into claims management regulation set to receive muted response
The consultation into how claims management companies are regulated is expected to be met with apathy from legal bosses, amid concerns that their views will be ignored, according to the Motor Accident Solicitors Society.
Insiders voice concern at Aviva's long-term growth prospects amid cuts
Aviva's confirmation that hundreds of roles at "middle management or below" are at risk of redundancy has raised concerns that its long-term cost-cutting strategy comes at the expense of a focus on organic growth.
Willis' newest office opens in China
Willis has opened its 22nd office, the firm's second office in China this year.
Brit integration leads to Birmingham office relocation for QBE
QBE has been forced to relocate its Birmingham operation to a larger office as a result of the ongoing integration of the Brit Insurance business.
LAS recruits multitude of ex-Merlin staff
Birmingham-based LAS Claims has hired 19 former Merlin employees just 23 days after the loss adjuster plunged into administration, making scores of people redundant.
Willis to open 22nd Chinese branch
Willis China, the Chinese arm of broker Willis Group, has received approval from the Chinese Insurance Regulatory Commission to open a new office in Harbin, the capital city of Heilongjiang Province in north east China.
Typhoon Bolaven makes landfall in North Korea
Typhoon Bolaven made landfall in North Korea north of Pyongyang, the country's capital, at about 1100 on 28 August after weakening to borderline tropical storm/typhoon strength (120km/h 10-minute sustained winds), according to the Japan Meteorological…
Legal Ombudsman to handle CMC complaints
Complaints concerning rogue claims management companies will be dealt with by the Legal Ombudsman, the Ministry of Justice has confirmed.
Vienna Insurance Group offloads Russian interests
Vienna Insurance Group has completed the previously announced sale of its stakes in three Russian insurance companies.
Axa Assistance recruits former L&G boss for sales director role
Axa Assistance UK has appointed Adam Smith, pictured, as sales director to accelerate the growth of the company's large corporate partnerships business.
Indian insurers lambasted for fire premium price war
India's Finance Ministry has censured four state-owned insurers for offering "ridiculously low" fire premiums to corporate clients after attempts to undercut each other led some to offer 100% premium discounts.
US property and catastrophe insurers to sustain largest Hurricane Isaac losses
Primary insurers including Liberty Mutual Group are likely to bear the brunt of any insured losses arising from Hurricane Isaac, Fitch Ratings has claimed.
Labour ministers slam Solvency II anti-competitiveness
The Labour Party has criticised the Solvency II directive for potentially damaging competition in the UK insurance market.
Hurricane Isaac will not be a 'Katrina event'
Hurricane Isaac could cause up to £304m ($480m) in insured losses, experts have predicted.
Autonet to launch on aggregator Uswitch
Motor broker Autonet is to place several van insurance products on price comparison site Uswitch imminently.
Typhoon Tembin narrowly misses Taiwan on its return
Taiwan residents were relieved earlier today after Typhoon Tembin failed to make landfall for a second time in the region.
William Russell expands expat dental cover
Global expatriate insurer William Russell has launched a new optional dental benefit plans for businesses.
US drought to create $20bn crop insurance losses
Catastrophe modelling firm Air Worldwide has estimated that the US drought could leave the insurance industry with a $20bn bill for the losses America's crop farmners have sustained.
Kwik Fit helps staff find new roles ahead of Glasgow consolidation
Kwik Fit Financial Services will press ahead with consolidating its insurance business in Glasgow, after revealing that the majority of the 170 employees affected by the closure of its Birmingham office have secured new positions.
Venezuelan oil refinery blast kills 48 people
An oil refinery in Venezuela went up in flames after three tanks exploded on Saturday morning.
Join Allianz, Groupama and Miller in 2012 insurance football tourament
The Prince's Trust is today calling on insurance companies to help tackle youth unemployment by taking part in the charity's annual fundraising football tournament.
Lloyd's broker relationships crucial for expansion
Lloyd's must develop and broaden relationships with its brokers in order to fulfil its expansion targets in emerging markets, says a Guy Carpenter report released today.
Cat bonds and sidecars favoured over traditional reinsurance, Fitch finds
Fitch Ratings has revealed that capital market alternatives to reinsurance from sources such as catastrophe bonds, collateralised quota-share reinsurance vehicles, and other risk transfer structures represent an increasingly viable alternative to…
Marsh recruits new head of Swedish division
Broker Marsh has appointed Kenneth Miger as chief executive officer of Marsh AB in Sweden.