News
At-fault payout product could fill 'deliberate' hole in motor market
Concerns have been raised that a new product that "fills a genuine gap" in the motor market could be plugging a hole that has been left deliberately.
Academic paper suggests England learn from Scotland about flood risk prevention
An academic made a splash this week by publishing a paper calling for planners, developers and architects to be held "legally liable when they get it wrong and people are flooded" as a way of preventing further flood plain development.
Market Moves: Brokers back with a bang
After two slow weeks, the broking sector has seen an upswing in activity, with a number of large players making high-profile appointments.
Fraudulent claims continue to plague insurers, as index shows rise in cases
Location-specific blackspots indicate overall increase in UK insurance fraud
QBE to launch global reinsurrance team under new brand
QBE is in the process of combining its worldwide reinsurance operations under a single management team which will come together under the unified brand QBE Re.
Guardian unveils new chief financial officer
Guardian Financial Services has today announced the appointment of Andrew Birrell as chief financial officer.
Wunelli calls for standard telematics approach
Wunelli has urged insurers to agree a common data standard for the use of telematics.
Labour MP's telematics stance supported by Accenture survey
Drivers of all ages would respond favorably to calls from Labour’s shadow transport minister to force insurers to offer telematics technology as a matter of course, according to an Accenture study.
DAS deal sees Bluefin network members provided with legal expenses product
Bluefin Broker Partnership Services has appointed DAS to provide a suite of legal expenses and emergency assistance products to its network brokers.
County Insurance hires law firm to advise on broker acquisition spree
The goal set by bosses at the County Insurance Group of buying 10 new brokers over the next five years has moved a stage closer following the appointment of Harrison Drury to advise on a regional acquisition spree.
ABI warns 'clock is ticking' for flood insurance solution
The Association of British Insurers has warned that there is no time to lose in securing a long-term, sustainable flood insurance market.
Admiral overseas losses increase to £15.1m but policycount soars to 4.1m
Admiral Group has reported that its two international operations – motor and aggregator – increased their losses to £15.1m (2010: £12.8m loss) in 2010.
Quinn acquisition positions Liberty for a 'prosperous' 2012
Liberty Mutual has reported net income of $284m and $365m for the three and 12 months ended 31 December 2011, decreases of $292m and $1.313bn from the same periods in 2010.
Liberty CEO talks up China, India and Quinn after 87% drop in pre-tax income
Liberty Mutual has reported net income of $284m and $365m for the three and twelve months ended 31 December 2011, decreases of $292m and $1.313bn from the same periods in 2010.
Asian air traffic a game changer in aviation market, warns broker boss
Air travel in Asia Pacific is set to significantly surpass that of North America and Europe in the next five years, increasing the exposure of airlines operating in the region to potentially game-changing risks such as reputational risk.
Thomas charged with maximising Willis' $40bn global premium
Willis Group has appointed David Thomas as director of strategy and transformation within its global businesses division.
Academic calls to sue experts over flood risk are 'absurd'
A leading planning barrister has rubbished calls by flood expert for class action lawsuits to be brought against planning officers, consultants, architects and other experts.
Labour wants to force insurers to offer telematics
Labour wants to see every insurance company being forced to offer drivers at least one black box product, according to the Daily Mail.
Willis appoints director of strategy and transformation
Willis Group Holdings has appointed David Thomas as director of strategy and transformation in its global businesses division.
Admiral COO describes 2011 as a year of two halves as profit hits £299m
Admiral has reported group profit before tax up 13% at £299m in 2011 (2010: £266m) on a turnover up 38% at £2.19bn (2010: £1.58bn).
HSBC sells GI units to Axa and QBE
Axa and HSBC announced today they have entered into an agreement whereby the French insurance giant would acquire the bank's property and casualty businesses in Hong Kong, Singapore and Mexico.
Axa and QBE strike deals with HSBC for Asian and Central/South American P&C businesses
Axa and HSBC announced today they have entered into an agreement whereby the French insurance giant would acquire the bank’s property and casualty businesses in Hong Kong, Singapore and Mexico.
Fraud rises 70% in Indian general insurance
Indian insurance companies incurred losses of over Rs30,000 crore in 2011 due to fraudulent activity, according to a recent study by Pune-based firm Indiaforensic.
Willis China claims broker first in Chongqing
Willis China, part of Willis Group Holdings, has been granted approval to open a new office in Chongqing by the Chinese Insurance Regulatory Commission, which it claims is a first for a foreign-owned broker.