News
BIS 2011: Numerate grads the future of underwriting
The future of underwriting rests in the hands of graduates with strong numeracy skills and business understanding who are willing to embrace specialist areas of the industry.
HSBC bidders line up not to comment
QBE, Zurich and Allianz have refused to comment on speculation in a Reuters report that they are among bidders for HSBC’s insurance business.
AM Best withdraws ratings of Connaught
AM Best Europe has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-” of Connaught Insurance Company Limited (Connaught) (Guernsey), the captive insurance company of Thomas Greg & Sons Limited, a security printing…
BIS 2011: Regulation and balance sheet concerns blamed for below book trading
A combination of balance sheet concerns and the impact of Solvency II was identified as the main reason why insurers are trading below the book by delegates at the British Insurance Summit yesterday.
Amlin brings ambassador on board
Amlin has appointed former diplomat Sir Alan Collins, as an independent non-executive director, to take effect on 14 November 2011.
Aon names first ever European power chief
Aon Risk Solutions has appointed Denis Waerseggers to the newly created position of European power leader.
Ecclesiastical stops NZ quake cover
Ecclesiastical is to cease writing earthquake cover in New Zealand following the devastating series of earthquakes in Christchurch which contributed to the insurer’s biggest ever losses.
Sagicor quits casualty treaty reinsurance
Sagicor at Lloyd’s has pulled out of providing casualty treaty reinsurance following its earlier withdrawal from property treaty reinsurance in April 2011.
APC revamps property owners’ cover
Commercial insurance underwriting agency, APC in replacing its property owners products with new residential and commercial landlords products.
Homeserve expects 3% customer rise
Homeserve said it expected half year profits to be better than last year, and in line with expectations, claiming it had more than five million customers and 11.7 million policies.
Helphire board change over £29m error
Helphire board bosses have quit after shocking results saw pre-tax losses more than double to £34.1m.
Neave rebuts IFB ‘revolving door’ claims
Insurance Fraud Bureau chairman David Neave insists there is no “revolving door” problem at the industry anti-fraud co-ordinator, after Glen Marr announced he was stepping down from the director role after just over a year.
Rehabilitation First Awards 2011: Rehabilitation Initiative of the Year — Insurer
Judges applauded QBE’s initiative as “behaviour-changing stuff that makes a detailed case for rehabilitation at all levels”.
Internal fraud fight aided by recruitment changes
Technological advances and improved recruitment screening over the past three years have helped insurers tighten their grip on internal fraud, according to experts from two major insurers.
So, what exactly does a high net worth fraudster look like?
Arrogance, financial pressure and criminal activity are the major motivators of a high-net-worth fraudster, Sterling Insurance has revealed.
Market moves: Getting ready for the fourth quarter
Lloyd’s players were the most active recruiters this week as the insurance industry looks forward to the fourth quarter. A number of underwriters in the London Market made appointments, with a view to strengthening their teams. Moves among insurers…
Lloyd’s places syndicates under financial scrutiny
Lloyd’s has begun an intense examination of syndicates’ 2012 business plans, in a bid to weed out unprofitable underwriting risk.
Loss adjusters criticised by brokers for cost-cutting measures
Brokers have hit out at loss adjusters for desktopping claims and using inexperienced staff to cut costs.
Fraud: Advanced detection techniques responsible for recent fraud crackdown
Fraud investigators at major UK insurers have attributed the unprecedented number of high-profile fraudsters hauled before the courts over the past month to a more advanced industry-wide detection process.
ASIS boss targets top 50 with niche push
The managing director of an up-and-coming broker has set her sights on being in the top 50 within 10 years, by launching into a variety of “untapped niche markets”.
Bruce joins UK General in bid to boost growth of commercial lines
UK General has appointed Cathie Bruce to the newly created position of commercial managing director, hoping the new high-profile role will help mimic the success of Rural Insurance.
Rehabilitation First Awards 2011
Guests were welcomed to the Rehabilitation First Awards 2011 in the stylish surroundings of Le Meridien Piccadilly’s Oak Room by chair of the judging panel and editor of Post Lynn Rouse, who called on the industry to capitalise on the opportunity to…
Rehabilitation First Awards 2011: Case Manager of the Year
Five individuals were shortlisted for this award, having impressed the judges with their commitment to clients, innovative ways of working and persuasive case studies but Cath Townley inspired them the most.
Rehabilitation First Awards 2011: Rehabilitation Initiative of the Year — Provider
Amid a strong and diverse shortlist, one entry stood out due to the combined and pioneering efforts in delivering pre-claim early intervention for individuals with mental health problems.