News
Aviva sticks with broker campaign
Aviva is to run further press and radio advertisements advising businesses to seek help and advice through a broker when buying their business insurance.
Fortis affinity boss Carter to lead Tesco Underwriting
Fortis and Tesco Bank have unveiled the structure of their general insurance partnership.
Chartis UK profit falls £241m
Chartis UK full year results for 2009 show the insurer has posted a reduced profit before tax of £83m, down from 2008’s result (excluding restructure) of £324.3m.
FSA to end cashless financial reinsurance use as Tier 1 capital
The FSA has responded to the recent trend for UK insurers to strengthen their capital base using cashless financial reinsurance (CFR) - a transaction with no upfront cost - by proposing it should no longer count as Tier 1 capital by October 2010,…
Quinn customers and suppliers set to stage lorry demonstration
A demonstration of 300 lorries representing 170 companies will take place tomorrow on behalf of customers and suppliers of the Quinn Group and Quinn Insurance.
Delta Lloyd unveils board changes
Michiel Delfos has been appointed as the successor of Nathalie de Geus with effect from 15 May 2010.
FSA to consult on FSCS changes
The Financial Services Authority has today issued a consultation paper that includes proposed Handbook changes in relation to financial stability and market confidence.
Delta Lloyd unveils board changes
Michiel Delfos has been appointed as the successor of Nathalie de Geus with effect from 15 May 2010.
No material impact on insurance sector from Icelandic volcano – Moody’s
The Eyjafjallajökull volcano in Iceland erupted causing a significant disruption for those individuals and businesses reliant on air travel, however, the extent to which the insurance industry will cover losses incurred from this disruption is expected…
Talbot appoints new board member
Peter Bilsby has been named head of underwriting management and head of reinsurance purchasing at Talbot, an insurance subsidiary of Validus, and appointed to the board.
Marsh reshapes national corporate team
Following completion of its acquisition of HSBC Insurance Brokers on 1 April, Marsh is adding to its UK national corporate leadership team.
FSCS to help consumers claim up to £50 000 in compensation
The Financial Services Compensation Scheme has declared in default that consumers could claim up to £50 000 if they have lost money as a result of their dealings with any investment firms.
Lockton launches insurance for "medical tourism"
Lockton Singapore Pte Ltd has launched an insurance product to cover the cost of medical complications for medical travellers receiving surgery abroad.
‘Toxic sofa’ victims to receive £20m pay out
The High Court has ordered three furniture retailers to pay £20m to customers who received serious burns from sofas manufactured in China in what is thought to be the largest group litigation in UK legal history.
Co-operative Insurance calls for ELIB
David Neave, director of general insurance at Co-operative Financial Services, has called on the insurance industry to fund an Employers’ Liability Insurance Bureau.
Aerospace insurance costs continues steady descent
Reduction in exposure to risks throughout the aerospace sector means insurance costs are falling and further reductions are likely this year, according to Aon's Aerospace Insurance Market Outlook 2010.
Lancashire enters $200m credit facility
Lancashire Insurance Company has entered into a $200m bi-lateral two year letter of credit facility with Lloyds TSB Bank.
Senators near agreement on financial regulation
Senators negotiating financial regulatory reform legislation said on Sunday they were close to a bipartisan agreement, according to newswire Reuters.
Hannover Re expects large claim from Gulf of Mexico rig fire
Hannover Re, one of the world's five largest reinsurers, has said it expects a "large claim" from the off-shore oil rig in the Gulf of Mexico that caught fire last Tuesday and sunk two days later, according to the Wall Street Journal.
Generali appoints chairman and chief exec
Generali, the largest Italian insurer, has named Cesare Geronzi, the outgoing chairman of its largest shareholder, Mediobanca, as its new chairman and Giovanni Perissinotto as its sole chief executive.
Tornado causes devastation in Mississippi
A tornado nearly a mile wide ripped through central Mississippi on Saturday, killing 10 people, including three children, and injuring dozens of others, state authorities said.
Power Place saves time claims CEO
Power Place has published research claiming that brokers using the online commercial insurance marketplace can generate comparative quotes four times more quickly than using insurer extranets.
India life insurance market grows 25%
According to the Insurance Regulatory and Development Authority in India, life insurers in the country have posted 25% growth in new premium income for the financial year ended 31 March.
Generali appoints chairman and chief exec
Generali, the largest Italian insurer, has named Cesare Geronzi, the outgoing chairman of its largest shareholder, Mediobanca, as its new chairman and Giovanni Perissinotto as its sole chief executive.