News
Zurich pledges broker commitment as 15% of staff cut in PL shake-up
Zurich has moved to reassure its brokers following the news that it will cut almost 15% of its UK workforce and transfer a big chunk of its personal lines business into its own broker, Endsleigh.
Canopius makes play for Omega in bid to grow PE-backed Lloyd’s insurer
Canopius chairman Michael Watson has acted on ambitions to grow his private equity-backed Lloyd's insurer, with a £164m takeover of struggling Omega in a deal that sees a slice of the business sold to US insurer Tower Group.
Weightmans wins fraud and claims contract on MIB legal panel
Weightmans law firm has become the Motor Insurance Bureau's legal services supplier for core claims and fraud following a strategic review by the association.
Asia must invest in urban disaster risk management
Industry insiders at a seminar convened by the Asian Development Bank have called for Asian countries to increase investment in urban disaster risk management.
Market divided as to favourability of current conditions for IPOs
Market players credited with an interest in launching initial public offerings inside the next two years have been warned against attempting to float amid unfavourable conditions, where value is at rock bottom.
Data-sharing portal thrown into limbo
The proposed claimant data-sharing portal has hit a standstill, as the Association of British Insurers demands solicitors give something in return for insurer-held information about fraud. The "ball", according to the ABI, is now firmly in the Motor…
Generali UK launches policy administration system
Assicurazioni Generali's UK branch has gone live with a new non-life policy administration system from Agencyport Software.
News International case a pattern of 'major governance failures'
The problems at News of the World highlighted by Tuesday's Culture Media and Sport Select Committee report are by no means confined to News International, according to Airmic, the association for risk managers.
iSaaS launches app to crack down on spurious whiplash claims
Cloud computing specialist iSaaS Technology has launched a biometric identification iPhone application for medical experts to help diminish fraudulent activity during the personal injury claims process.
Greening to urge drivers to fit black box
Transport Secretary Justine Greening will urge young drivers and women motorists to have telematics devices fitted in their cars at this afternoon's second motor insurance summit, according to the Daily Mail.
LV boss O'Roarke calls for fraud clamp-down talks at second summit
LV managing director John O'Roarke is demanding more stringent legislation designed to clamp down on "unscrupulous" drivers following a survey showing that almost two thirds of GPs have seen a rise in exaggerated injuries.
Clyde & Co promotes nine to partnership in Middle East and Asia
Insurance specialist Clyde & Co has promoted nine lawyers to partnership in the Middle East & Asia.
UKG new broker schemes premium grows 50%
UK General has boasted £300m in gross written premium with a £90m rise from new broker schemes.
Weather brings back 'sharp memories' of 2007 floods
Chartered loss adjuster Agrical said it is keeping a watching brief on the weather as the heavy rainfall in April has increased the number of flood and associated water run-off related claims it is receiving by a factor of three.
Marsh & McLennan revenue grows 6% in Q1
Marsh & McLennan Group outstripped analyst estimates to make consolidated revenue of $3.1 bn in the first quarter, a 6% increase on the first quarter of 2011.
Legal and insurance experts at loggerheads ahead of second summit
Legal and insurance leaders have once again clashed over the issue of whiplash ahead of the second motor insurance summit at Whitehall this afternoon.
CFC makes first big appointment following news of Hyperion split
CFC Underwriting has unveiled its first major appointment since the news that Hyperion boss David Howden is to sell his majority stake in the firm.
HCC reports net earnings of $82.6m
HCC Insurance Holdings has reported net earnings of $82.6m for its Q1 results, up $35.6m for the first quarter of 2011.
Ink acquires Indemnity Risk Solutions
Ink Underwriting has strengthened its position in the solicitor professional indemnity market through the acquisition of Indemnity Risk Solutions.
AAOIFI plans reform of takaful standards
Khaled Al Fakih, the new secretary-general of the Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions, outlined plans for a sweeping review of its guidelines in an interview with Reuters.
Zurich renames Malaysia Assurance Alliance Berhad
Malaysian Assurance Alliance Berhad has been renamed Zurich Insurance Malaysia Berhad following Zurich's acquisition of MAAB in September 2011.
Novae posts 6% jump in GWP
Novae has reported a gross written premium of £231.1m in its Q1 results representing a 5.7% increase on last year (2010: £219.7m).
Marsh sells portfolio of four businesses to R K Harrison
Marsh has reached an agreement to sell a portfolio of four businesses within Gibbs Hartley Cooper, a part of Marsh UK, to R K Harrison.
Clyde & Co promotes six to partnership in the Middle East
Clyde & Co has announced the internal promotions of six Middle East-based senior associates and legal directors to the partnership, with effect from 1 May 2012, bringing the firm's regional partner count to 30.