News
Cooper Gay supports parametric cover
Cooper Gay’s Latin America CEO Steve Jackson has said catastrophe insurance could be simplified in developing countries by using parametric insurance – paying out on pre-agreed triggers rather the assessing damage. ther the assessing damage.
Biba and IIB reach merger agreement
The leaders of the British Insurance Brokers’ Association and the Institute of Insurance Brokers have announced a “momentous” merger agreement in a bid to produce a combined stance on future regulatory changes.
L&G reports 7% Q3 rise in GI GWP
Legal & General reported third quarter general insurance gross written premiums of £221m, £15m (7%) up on the same period last year.
Lancashire raises Fascione in Bermuda
Lancashire Holdings has promoted Simon Fascione to chief underwriting officer of the company's Bermuda operation, Lancashire Insurance Company.
CSC threatens judicial review over referral fee ban
Solicitors for the Claims Standards Council have written to the government warning of its intention to commence judicial review proceedings if the government goes ahead with its proposed ban on referral fees.
Mixed reaction to Webster Dixon's High Court success
Legal expenses insurer DAS has called for caution following Webster Dixon’s success in the High Court last week where the circumstances in which legal expenses insurers may not decline a policyholder’s claim were clarified.
County Insurance launches community broker survival business
Bosses at County Insurance NW have today launched a business continuity solution for brokers, after claiming that around 65% of the market will be planning the sale of their business within the next 5 years.
AAIB recruits reinsurance manager
Anglo-Arab Insurance Brokers, the specialist insurer for emerging and high risk countries across the Middle East and Africa, has appointed Mekki Mustafa as its senior consultant in Iraq.
RBSI bid rumours rubbished
Rumours of a £4bn CVC bid for RBSI are wide of the mark, market sources have told Post.
Thai floods: Central Bangkok spared
The worst of the Thailand flooding is over but insurers will have to pay “significantly large business interruption costs”, according to Fitch Ratings.
LIU Europe opens Hamburg branch
Liberty International Underwriters has opened a new branch in Hamburg, Germany as it seeks to become a competitive, niche player in the region.
Japanese, Swiss and Bermudian regimes largely equivalent to Solvency II, says Eiopa
The supervisory systems operating in Switzerland, Bermuda and Japan are largely equivalent to Solvency II, but not for all classes, according to the European Insurance and Occupational Pensions Authority.
Law firms Beachcroft and DAC merge
Beachcroft and Davies Arnold Cooper have merged to form DAC Beachcroft.
In conversation with RSA: distinguishing from rivals in SME commercial
The SME commercial market remains one of the most highly competitive in the UK insurance space.
AIR Worldwide launches multiple peril crop cover for China
Catastrophe risk modeling firm AIR Worldwide has launched a multiple peril crop insurance model for China.
Munich Re launches $100m cat bond
Munich Re has a $100m catastrophe bond to cover US hurricane and European windstorm risks.
Brokers Link growth takes it to $14bn
José Fonseca, chairman of Brokers Link, has told delegates at the Broker Network conference that new joiners in Israel, Indonesia, South Korea and the Caribbean had increased members’ managed premium to more than $14bn.
Brokers Link premium breaks $14bn with eight new members
Independent broker network Brokers Link has increased its members’ managed premium volumes to over $14bn with new representation in Israel, Indonesia, South Korea and Caribbean.
Earthquake magnitude 6.9 hits Peru
A magnitude 6.9 earthquake occurred near the coast of central Peru on Saturday at 18:54 UTC (1:54 pm local time)according to catastrophe modeling firm AIR Worldwide.
Homeserve review suspends sales calls
Homeserve has been forced to cease selling over the phone after a Deloitte investigation found “cases where its sales processes did not meet the company's required standards”.
Armed guards will help tackle pirates
Maritime security firm Haymarket Risk Management has welcomed Prime Minister David Cameron’s ruling that UK registered ships can carry armed guards to fight pirates.
Invicta completes Fountain buyout
Invicta Insurance Services will tomorrow (Tuesday 1 November) complete its latest acquisition, the household and property owners’ portfolios of Dorset broker Fountain Insurance & Investment Services.
Kennedys boss raises concerns over referral fee 'loophole'
Kennedys has warned that the proposed ban on referral fees, which is currently making its way through the House of Commons, includes a loophole that could allow referral arrangements in through the “back door”.
Standard & Poor upgrades Swiss Re to AA-
Standard & Poor has upgraded Swiss Re from A+ to AA- following the firm success in derisking its asset portfolio, convertible perpetual capital instrument with Berkshire Hathaway and stabilised its net income.