News
Motor insurers set to share application data in suspected frauds – Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including how motor insurers plan to share suspected application fraud data as criminals try multiple applications to get cars on the Motor Insurance Database as cheaply as…
Castleacre launches high net worth index
Castleacre has produced an average price index of household insurance for High Net Worth individuals to help clients identify whether their own insurance premiums are in-line with current market trends.
PwC research points to dip in M&A activity
Financial services M&A activity underwent a “significant slowdown” in the third quarter of the year but is expected to pick up in the early part of 2012, according to research carried out by PwC.
Mitsui Sumitomo expands Dublin office with new hires
Mitsui Sumitomo at Lloyd’s has continued the expansion of its recently launched Dublin office with the appointments of Brian Moran and Gavin Mullen as senior underwriters.
Hungarian watchdog confirms a 2.7% fall in GWP in 3Q2011
The Hungarian Financial Supervision Authority has confirmed a 2.7% fall in gross written premiums for the Hungarian market in the third quarter.
Besso appoints Greene as NED
Lloyd’s broker Besso Insurance Group has named Stephen Greene as a non-executive director.
McManus named as Giles CEO
Former Willis boss Brendan McManus has been appointed as chief executive of Giles.
Mitsui Sumitomo adds to Dublin team
Mitsui Sumitomo at Lloyd’s has appointed Brian Moran and Gavin Mullen as senior underwriters in its Dublin office.
7 December: Horsing around
It’s true to say that the one thing you don’t expect to come home to after a hard day’s Christmas shopping in Knightsbridge is a horse in your swimming pool.
BDMA award winners revealed
Winners of the 2011 Damage Management Awards were presented at a charity dinner which brought the British Damage Management Association Conference 2011 to a close on 1 December.
French floods to cost insurers €800m
The November floods in 16 regions of France look set to cost insurers €800m according to a new report.
IAG UK repositions its affinity division
IAG UK has repositioned its specialist affinity division, Equity Direct Broking, following the launch of a new trading name.
Axa Art raises money for charity with art salvage auction
Axa Art Insurance has raise six times the estimated value of damaged art works in a salvage sale to raise money for charity.
Study exposes supply chain risks in China
A study commissioned by FM Global revealed a natural catastrophe in China on the scale of the 2011 Japan earthquake and tsunami would have an even more severe impact on supply chains, given the country’s critical role in global manufacturing.
Towergate to form SME division
Towergate is to create a new division dedicated to SME business following two senior departures.
Fight for compensation hits the Supreme Court
The long running litigation to determine the asbestos victims “trigger” point for employers’ liability cases has headed to the Supreme Court.
Study reveals supply chain risks in China
A study commissioned by FM Global revealed a natural catastrophe in China on the scale of the 2011 Japan earthquake and tsunami would have an even more severe impact on supply chains, given the country’s critical role in global manufacturing.
Product innovation in European insurance firms is widespread
Product innovation in non-life insurance is widespread according to a new report.
$600m of Thai flood losses fall to Swiss Re
Swiss Re estimates its claims costs from severe flooding in Thailand will be $600m of the $11bn total losses.
Risk of conflict with ABS
The move by some legal expenses firms to develop alternative business structures under the Legal Services Act creates the risk of a conflict between the needs of underwriters and consumers, according to Arc Legal Assistance.
News analysis: Escalating loss estimates in Thailand begin to trigger market fallout
It was the worst flooding Thailand had seen for 50 years and, during its four-month spell, more than 600 people died and 77 provinces were submerged in water.
70% of firms ready for risks, says Lloyd’s report
A Lloyd’s Risk Index report has found that 70% of businesses believe they are better prepared to tackle the risks they face than they were two years ago.
US P&C rates rise after six soft years
US Composite P&C rates have finally risen after six years and eight months of soft market pricing, according to the Dallas-based insurance exchange Market Scout.
Swiss Re estimates Thai losses at $600m
Swiss Re estimates its claims costs from the flooding of 1500 industrial units in Thailand to be $600m, net of retrocession and before tax.