News
Future technology competition
Many accuse the insurance industry of being less than innovative and behind the curve with the application of technological advances, this is you chance to prove them wrong.
Law report: Dispute number challenge fails
This law report has been contributed by national law firm Berrymans Lace Mawer.
XL scoops bulk of solicitors’ PI market as fewer join assigned risk pool
As capacity in solicitors’ professional indemnity increases, brokers predict XL will be the biggest player in the market, replacing 2010’s top underwriter Chartis.
Esure broking boss vows to prioritise fraud
The managing director overseeing the launch of Esure’s two new broking brands has vowed to make clamping down on fraud a priority issue, after outlining a list of crime-cutting measures.
Firms warned of hardline FSA approach
A UK insurance boss has welcomed the Financial Services Authority proposals to properly inform customers about packaged bank accounts.
Building referral fee costs hitting industry for 'tens of millions of pounds'
Building referral fee costs, which have escalated over the past two years, are “like a cancer” costing the industry “tens of millions of pounds” a year, it has been claimed.
Homeserve shares crash after sales suspension
Homeserve joined the mis-selling scandal this week when it suspended telephone sales of its home emergency policies, after an internal review by Deloitte found its processes fell “below the standard it had set itself”.
Groupama CEO Azéma sacked after Fitch and S&P action
A senior rating analyst has played down fears a raft of major European insurers could be on the end of downgrades in the wake of the European Union debt crisis.
Editor's comment: Offering a united front
Despite the speculation that the British Insurance Brokers’ Association may revert to its former name Biiba – the extra ‘i’ once standing for investment — following its merger with the Institute of Insurance Brokers, it has now been revealed that the…
News analysis: Is data mining a major factor in the PI claims spike?
The debate over referral fees has had more press time recently than whether The X Factor is on the wane or not. And just like the blow-by-blow tabloid accounts of the TV show, its judges and its contestants, the insurance industry is starting to get…
Merged trade bodies to fight for
A campaign to secure a more cost-effective regulatory environment for thousands of brokers will form the basis of the “historic” merger between the British Insurance Brokers’ Association and the Institute of Insurance Brokers.
Market moves: Insurers move for senior staff
For the second week running insurers were the major movers and shakers, with Ecclesiastical recruiting a managing director for Ireland, Aviva adding to its executive team, and NIG expanding its presence in London. In broking, Willis continued to make…
Law report: Solicitor’s failure to follow client instructions lands it with wasted costs charge
This law report has been controbuted by national law firm Berryman's Lace Mawer.
Law report: Security guard claim dismissal good news for employers
This law report has been contributed by national law firm Berrymans Lace Mawer.
"Leaner and meaner" Oval to focus on wiping debt
Oval is aiming to wipe its net debt by 2014 but it is not ruling out making new hires and “selective acquisitions” in the meantime.
PI to be compulsory for professional body members in Italy
Professional indemnity insurance is to be made compulsory for all members of recognised professional bodies in Italy following new legislation.
Geneva Association petitions G20 on systemic risk designation
Insurance think tank, The Geneva Association, today issued an open letter to the members of the G20, asking them to take into account the specificities of the insurance industry when devising policies on systemic risk.
XL’s operating net income drops to $169m
XL group has announced its third quarter 2011 results which show an operating net income drop to $169m from $567m in 2010.
Marsh insurance unit increases profit by 24%
Marsh & McLennan Companies’ today announced its risk and insurance services unit made an operating profit of $925m for the first nine months of 2010 – an increase of 24% on the previous year.
Building referral fee costs hit industry for ‘tens of millions of pounds’ – Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including claims that referral fee costs that have escalated over the last two years to the point where they are now costing the industry tens of millions of pounds a…
Geneva Association sends open letter to G-20 leaders
Leading international insurance think tank, The Geneva Association, has today issued an open letter to the Finance Ministers and Central Bank Governors of the G-20.
BCI survey unearths 'deep-rooted' supply chain failure
Deep-rooted sources of supply chain failure in 62 countries across the globe have been identified following a recent survey carried out by the Business Continuity Institute.
Chubb appoints UK & Ireland accident & health manager
Chubb Insurance has appointed Steve Ranzetta, currently Chubb London accident & health manager, to the role of Chubb UK & Ireland accident & health manager, effective immediately.
Island targets top spot as captive insurance domicile
Efforts to promote the Isle of Man as the captive insurance domicile of choice have been stepped up a notch following the island’s captive association attendance at the FERMA Conference.