News
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.
CFC warns of data loss costs
The cost of remediating a data loss episode could be as much as £27 per record, according to CFC Underwriting. Were it to apply to government's loss of two discs holding the details of 25 million child benefit claimants last year could have cost HMRC a…
Willumstad says AIG's insurance businesses unlikely to be sold
(BestWire) — Robert Willumstad, American International Group’s new chief executive officer, is promising a thorough examination of all the corporation’s businesses and may decide to sell some franchises, but expressed doubt that any of its insurance…
SSP signs deal with Synergy
SSP has signed a five-year agreement with new insurance business, Synergy Insurance Services to provide its core insurance IT solution to support growth for its insurance product, Synergy MicroCaptive.
CII manager appointed MBE
Peter Hutchinson, special projects manager at the Chartered Insurance Institute, has been appointed an MBE in the 2008 Queen’s Birthday Honours List for services to the insurance industry and to charity.
Groupama opts for Kewill for electronic trading
Kewill has confirmed that Groupama has chosen it to assist it in simplify electronic trading processes with its business partners.
Open GI appoints new director
Open GI has appointed Steve Dowle as software development director.
Helphire doubles its client relations team
Helphire has appointed Felicity Todd and Kate Owen as client relations managers.