News
Fraud event: Top London cop in tune with fraud fears
City of London Police Commander Ian Dyson has admitted that if the insurance industry had not stumped up the cash for the new dedicated counter-fraud unit, it would not have been formed. He also empathised with insurers’ fears that funding the unit could…
Fraud event: Industry must drive forward claimant data-sharing portal
The technology is ready for a data-sharing portal between insurers and claimant solicitors to tackle fraud, but it is down to the industry to drive it forward.
Combined Insurance bosses quit amid redundancy row
The European managing director and the head of European operations at Combined Insurance have left the company.
$3bn Thai flood losses set to escalate as city centre inundation begins
Loss adjusters have told Post there is a “whiff of Katrina” about the Thailand floods, following predictions the disaster could cost more than the estimated $3.3bn (£2.1bn) insured losses.
Westinsure pushes ‘alliance’ angle to entice brokers
Westinsure is set to rebrand under the slogan ‘Together we are stronger’ at its exhibition in January 2012, as it looks to become the market-leading broker network.
McManus Towergate move rubbished as Wilkinson wins Willis UK CEO role
Market speculation suggests that outgoing Willis UK & Ireland chief executive Brendan McManus will target a role at another major broker, after well-placed sources rubbished rumours linking him with a move to Towergate.
ABI mulls development of no-claims discount register
The Association of British Insurers is considering setting up a no-claims discount register in the wake of the creation of the industry’s Insurance Fraud Register.
Aviva to axe 950 jobs as Dublin-based operation set to be dismantled
The decision to dismantle Aviva’s Dublin-based European holding company with the loss of up to 950 jobs has been blamed on “economic and regulatory burdens”.
Career development news: LV creates 150 jobs
LV has created 150 new roles with the expansion of its office in Brentwood. The site already employs 200 people and, with plans to enlarge its claims division, the insurer expects to add 45 new staff before the end of the year.
Market moves: All change at Zurich and Willis
Following a slow period, large insurers made a number of key appointments this week, including major moves at Zurich, Allianz and RSA.
Fraud event: ‘Fronting’ definition must be agreed before IFR and Bill introduced
The insurance industry must agree a definition and approach towards ‘fronting’ before the introduction of the Insurance Fraud Register and the Consumer Insurance Bill comes into force, delegates were warned.
Fraud event: Disagreement over point to target fraudsters
Application fraudsters are ‘hiding behind the web’ but disagreement reigns over whether to target scammers at the point of quote or sale. Panellist Steve Sweeney, head of motor insurance at Money Supermarket, said his firm is working towards stamping out…
Fraud event: Gadget fraud on the rise as consumers look to upgrade
Insurers have been urged to “up the ante” against the rising number of younger consumers engaging in household fraud in order to gain a gadget upgrade.
Thai floods: Waters set to overwhelm Bangkok
Loss adjusters are preparing for the complete flooding of Bangkok as waters reach the centre of the city.
Ace Q3 results described as 'outstanding' in tough conditions
Ace has today reported a Q3 loss of $0.09 per share, compared with net income of $1.97 per share for the same quarter last year.
MoJ reaffirms ban on referral fees
Justice Secretary Kenneth Clarke has announced that the banning of referral fees will be debated in the House of Common next week and, if passed by vote, will be added to Legal Aid, Sentencing and Punishment of Offenders Bill which is currently…
Post Blog: Crash-for-cash and carry
The plastic bag has got somewhat of a bad reputation in recent years.
Brunel sees rise in PII renewals
Brunel Professional Risks saw a rise in the number of solicitors’ practices placing their professional indemnity insurance (PII) business through the indemnity insurance broker by the 1 October renewal deadline.
UK motor insurers cough up for PPO
Insurers are seeing a steady rise in demand for periodic payment orders, backing the findings of the Institute and Faculty of Actuaries.
Chaucer resignations trigger double appointment
Board members at Chaucer Syndicates have announced two long-term appointments following the resignations of high-profile figures Bob Deutsch and Richard Scholes.
UK and Norway forge new energy agreement
The UK and Norway have signed an agreement affirming their commitment to cooperation on energy and climate issues.
Money Supermarket tops list of most 'visible' websites
Money Supermarket has been found to be the most visible online insurer in terms of top search engine positioning, according to the latest industry study carried out by Greenlight.
LV gets first S&P rating
Standard & Poor’s has assigned BBB+ ratings to LV and Highway insurance - the core operating entities of Liverpool Victoria Friendly Society.
Thai flood losses set to escalate - Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including feelings of a “whiff of Katrina” among loss adjusters about the Thailand floods that have already inundated two industrial estates in Bangkok - affecting…