News
AIG downgraded by AM Best
AIG suffered a further blow when US ratings agency A.M. Best has downgraded a number of its ratings.
Pay as you drive insurance schemes not dead, claims consultancy
Consultant Watson Wyatt has told the insurance market "don't write off usage-based motor insurance".
AIG's Wilmington Finance unit to cease wholesale mortgage originations
AIG has said that its Wilmington Finance unit, which specialises in nonconforming loans, will cease wholesale mortgage originations effectively immediately.
Perkins Slade rebuffs takeover move
Perkins Slade has called off merger talks with Oval.
ABI: public backs need for more flood action
One year on from 2007’s floods three-quarters of people think that not enough is being done to tackle flooding, according to opinion research published today by the Association of British Insurers.
Airmic 2008: Insurer highlights IP issues
Miller Insurance Services has highlighted the issues surrounding the protection of intellectual property.
Airmic 2008: Major losses increasing
Major losses are growing in size, frequency and complexity, and the way they are handled is also changing, according to today's speakers at the Association of Insurance and Risk Managers Conference in Edinburgh.
Airmic 2008: Insurers back 90 day moratorium
Seven insurers have thrown their support behind an Association of Insurance and Risk Managers initiative to limit the potential use of ‘reservation of rights’, a device that puts the policyholder on notice that the insurer may not accept liability for a…
Airmic 2008: Risk managers warned over jargon
Risk managers and other professionals sometimes fail to get buy-in from directors, senior managers and other colleagues because they use inappropriate language or ineffective methods of communication, the conference heard today.
Airmic 2008: ERM benefits shown for first time
Enterprise Risk Management can be shown to significantly reduce the net risk exposure of organisations and to support improved decision making, according to the findings of a major study commissioned by the Association of Insurance and Risk Managers…
Airmic 2008: Claims index on track
The Association of Insurance and Risk Managers is to bring out a guide for commercial insurance buyers, highlighting the hallmarks of best claims practice. The publication, expected to be ready by the end of the year, will also assist Airmic as it moves…
Airmic 2008: Members back broker commission disclosure
Directors’ and officers’ insurance and claims performance are now among the issues that keep risk managers awake, according to a survey of Association of Insurance and Risk Managers members. The findings show that these issues rival reputation and…
Hannover Re confirms Sudan air crash exposure
Hannover Re has confirmed that it had a share on the insurance for the Sudan Airways flight which crashed in Khartoum on last week.
Ace Global Markets appoints Shaw as new chief underwriting officer
Ace has appointed Matthew Shaw as chief underwriting operator for its global markets division. Mr Shaw will also assume the position of chairman for Ace Tempest Re Europe.
Aviva reveals new chief risk officer
Aviva has appointed Jim Webber as its group chief risk officer.
Lucas Fettes recruits trio
Lucas Fettes and Partners, an independent and Lloyd's accredited broker, has added three new members to its staff, which will help support its growth plans in the Lloyd's market.
BA strikes new insurance deal
British Airways has appointed online travel insurance administration specialist Mondial Assistance to supply online travel insurance and assistance solutions to its customers across 18 countries.
Allstate closes $250m Texas windstorm cat bond
Allstate, the US insurance giant, has closed their second catastrophe bond deal under the Cayman Islands domiciled Willow Re.
Former Broker Network MD joins rival
North West insurance broker Caunce O’Hara has boosted its team with the appointment of a new broking director.
Marsh appoints new risk leaders
Broker and risk adviser Marsh has appointed Jeff Colburn as UK leader of its risk consulting practice.
Dubai to launch compulsory health care system
The Dubai Health Authority is launching a compulsory health system largely funded by health employers, the authority said in a statement.
Ropner strengthens non-marine team
Ropner Insurance Services has strengthened its UK Non-Marine team with the appointment of Matt Cosby.
MGIC enters into $50bn reinsurance agreement with HCC affiliate
Mortgage Guaranty Insurance Corporation (MGIC), has acquired up to $50bn of reinsurance from an affiliate of HCC Insurance Holdings, the company said in a statement.
Aon Risk Services appoints EMEA head
Aon Risk Services has appointed Marguerite Soeteman-Reijnen as managing director, head of broking excellence for Aon Europe, Middle East and Africa with immediate effect.