News
LV in new broker offer
LV will offer dual agency agreements to 700 of its brokers currently working with either ABC or Highway, the company said today.
AIR counts cost of California wildfires
Risk modeling firm AIR Worldwide has estimated total insured losses from the Freeway Complex, Sayre and Tea Fires in Southern California will range between $600m (£368m) and $800m.
Zurich acquires 100% shares in Russian company
Zurich has completed the acquisition of a remaining 34% minority stake in OOO NASTA Insurance Company, which was renamed Zurich Retail Insurance at the end of 2007.
PPI complaints rocketed in one year
Complaints to the Financial Ombudsman Service (FOS) about payment protection insurance (PPI) increased by nearly 600% in one year.
Royal Liver to make changes to IP offerings
Royal Liver is to overhaul its income protection (IP) offerings in January.
FSA outlines TCF characteristics
The Financial Services Authority (FSA) has outlined what firms treating customers fairly should look like.
CEA expresses concern over Solvency II changes
The CEA, the European insurance and reinsurance federation, has expressed its disappointment about decisions in the EU today that look set to change to outlook on Solvency II.
Chubb updates UHNW product
Chubb Insurance has launched a newly enhanced policy for ultra high net worth clients (UHNW). Masterpiece Signature offers cover for homes, cars and possessions. The new covers are effective 1 January 2009.
Benfield Corporate Risk in marine ransom insurance offering
Benfield Corporate Risk, the corporate insurance and risk intermediary, has announced the availability of a dedicated and exclusive Marine Ransom Extortion policy following the recent capture of a Saudi Arabian oil tanker by Somali pirates.
California wildfires cost over $787m in estimated home losses
Over $787m worth of homes have been lost as a result of the Southern California wildfires, First American has said.
Allied World to draw down $250m of current credit facility
Allied World, the Bermuda-based reinsurer filed a current report on Form 8-K on November 19, 2008announcing that it had sent a notice of borrowing to draw $250m in principal amount under its existing $400m unsecured senior revolving credit facility to…
Ace appoints new chief risk officer
Ace Ltd, the Switerland-domicled (re)insurer, said that Sean Ringsted has been appointed chief risk officer for the Ace group of companies.
Law firm completes Brit ATE review
Law firm O'Connors has completed a review of Brit Insurance's after the event insurance policies to ensure they remain competitive within the market.
XL Insurance appoints aviation chief
XL Insurance, the global insurance operations of XL Capital, has appointed Christopher O'Gwen as chief underwriting officer of global aerospace.
NU awards facilities contract to GSH
Facilities and energy management company GSH Group has secured a five-year, multi-million pound contract to deliver technical facilities services across a portfolio of more than 70 premises for Norwich Union.
Christmas shopping with the Prince's Trust
Up to thirty Prince's Trust supported businesses will be selling an array of unuusual Christmas presents at a special fayre in London on Monday 24 November. Incisive Media is a supporter of the Prince's Trust and a founder member of the Insurance…
Brightside subsidiary to acquire van brand
Brightside subsidiary, E Insurance has agreed to purchase the policy book and the new business and renewal rights in respect of the eVan insurance brand from Southern Rock Insurance Company.
PB Week: It is not a fun time to be a politician
As the facts on the ground change hour by hour, our politicians are grappling with a crisis that nobody dared dream about, writes Andrew Tjaardstra, editor of Professional Broking , the monthly management magazine for insurance brokers.
PMG steps in after rival enters administration
Premier Medical Group is taking over the operations of E-Reporting Group subsidiaries Medical Report Services, a medico-legal reporting operation, and Remedy Matters, a rehabilitation and triage service.
Ace enhances medical policy
Ace European Group has added access to Best Doctors to its corporate purchased personal accident and business travel facility, in collaboration with Aon.
Chubb enhances UHNW product
Chubb Insurance has announced it will launch a new enhanced policy for its ultra high net worth clients next year.
Swiss Life opens new office in Dubai
Switzerland-based insurer Swiss Life has opened a new office in Dubai to deal with insurance intermediation.
New addition to UMAL
Terry Crow joined UMAL as a liability underwriter after 30 years with Zurich Municipal.
Coverbox names insurance panel
Coverbox, a new pay-as-you-drive style insurance product has named four of its six panel members.