News
1.5 million cars at risk in flood hit areas, warns Uswitch
Uswitch has warned that 1.5 million cars are at risk in potential flood areas across Britain as the insurance industry braces itself to fork out ‘tens of millions’ in claims.
Broker 2 Broker targets brokers with new hire
Broker 2 Broker has appointed Sara Berry to the newly-created role of broker relationship manager.
Allied World makes Bell new COO
Allied World, the Bermudian (re)insurer has promoted David Bell to the position of chief operating and administrative officer of Allied World Assurance Company, its Bermuda insurance subsidiary. He was senior vice president, Global Product Line Manager,…
Hurricane Ike triggers Caribbean Catastrophe Risk Insurance Facility (CCRIF) to pay out $6.3m
The Caribbean Catastrophe Risk Insurance Facility (CCRIF), the world's first multi-country risk pool is set to make a payout of approximately US$6.3m to the government of the Turks and Caicos Islands, within the terms of that country’s hurricane policy…
Allied World appoints D'Orazio as new chief underwriting officer
Allied World, the Bermudian (re)insurer, has promoted Frank D'Orazio to the chief underwriter's position, the company said in a statement.
Ironshore enters Lloyd's market
Ironshore enter the Lloyd’s market after completing the purchase of Pembroke Managing Agency and Syndicate 4000 which it manages.
Travelers in UK senior staff shake up
Travelers UK has announced the retirement of David Bevan, general manager - sales marketing and distribution - after 16 years service.
CEA slams EU policymakers
CEA, the European insurance and reinsurance federation, has criticised European policymakers for failing to involve all stakeholders in today’s hearing on statutory audits.
Weightmans bulks up claims contingent
Weightmans will launch a large loss and technical claims capability out of its London office.
Increased demand for replacement white goods to be 'green' claims Comet
A survey commissioned by electronics specialist Comet found that one in three people (33%) who have made a claim on their household insurance would like the option of ‘greener’ or more environmentally friendly replacement products to choose from.
Broker online trading still has growth potential says MMA
The scale of independent broker website presence and online trading has scope for growth according to the findings of the Broker Trading and Technology Monitor from intermediary only insurer MMA Insurance.
Hull upheaval brings London opportunities claims Aon
The London marine insurance market should be ready to embrace new opportunities following the decrease in Norwegian hull appetite according to Aon.
Omega profits and premium income up
Omega Underwriting has reported a profit before tax up 20% to $24.5m (H1 2007: $20.4m) on premium income up 7% to $185.9m (H1 2007: $173.1m). Profit after tax was up 34% to $21.8m (H1 2007: $16.3m).
Coastal flooded high-risk property insurance losses could double by 2030- Lloyds
Insurance losses from coastal flooding for high-risk properties could double by 2030, according to a new report published today by Lloyd’s and Risk Management Solutions.
Ace hires new head of international personal lines
Ace, the newly Switzerland-domiciled (re)insurer, said that it has appointed Douglas Reynolds as head of international personal lines and small-to-medium enterprise (SME) business.
Glacier Re H1 net income off $11m
Glacier Re's first half net income fell $11m to $22m from $33m a year earlier, the company said in a statement.
Christian to head up Benfield's international arm -sources
Dominic Christian, the head of Benfield International, will head up the newly-formed Aon Benfield Re's international operation, sources told Reinsurance.
Oval wins six figure payout from former employee
Oval has been awarded a substantial six-figure sum in an out of court mediated settlement following successful proceedings against Southall Harries.
LV insurance sales up 21%
LV’s overall insurance sales gross written premiums are up 21% to £206.5m from £170.1 for the corresponding period in 2007, as part of its half-yearly results.
CCV invests in Kent broker
Cullum Capital Ventures has announced an investment stake into Kent based broker Capital and County. The business, with a gross written premium approaching £12m, has a specialism in the motor trade and construction industry.
Chubb delivers Peoplesure
A new personal accident and business travel insurance policy, Peoplesure, has been launched by Chubb Insurance.
RFIB expands workers’ compensation reinsurance capabilities
RFIB Group, the international Lloyd’s insurance and reinsurance broker, is expanding the group’s workers’ compensation reinsurance capability with the recruitment of Duncan Hopegood and Adrian Mortley.
IFS launches diploma for insurance industry entrants
The IFS School of Finance and awarding body Education Development International have joined forces to offer a diploma for those looking to embark upon a career in the financial services industry.
CML slated by PPI provider
Senior heads should roll at the Council of Mortgage Lenders (CML) after failing to secure an equitable level of state protection for mortgage lenders in both the private and rented sectors, according to PPI specialist Burgesses.