News
Priest abuse case costs insurers $227m
Twelve insurers are contributing more than $200m towards a multi-million dollar class action law suit in California compensating alleged victims of abuse at the hands of priests.
Accident Exchange revenues up 90%
Credit hire provider Accident Exchange plc has reported a 90% increase in revenue to £116.9 million and adjusted profit before tax of £18 million in its year-end results.
Beachcroft welcomes Law Commission reports
Beachcroft welcomed the proposals released today by the Law Commissions of England and Scotland in their first Consultation Paper on misrepresentation, non-disclosure and breach of warranty by the insured.
Barclays appoints new Insurance boss
Barclays has appointed Gary Duggan as managing director of UK consumer lending and insurance.
ABI: Reform of insurance contract law unnecessary
Stephen Haddrill, the ABI’s director general, commented on the publication of a Law Commission consultation paper on insurance contract law.
IPC takes up to $100m Cat hit in UK and Australia
Catastrophe reinsurance specialist IPCRe has issued a profits warning that its second quarter 2007 earnings will be negatively impacted by the storms and flooding that affected New South Wales, Australia in early June, and by the flooding in parts of…
GI compensation payments £66m for 2006/7
The Financial Services Compensation Scheme paid almost £150m in compensation during 2006/07, with £66m coming from general insurers.
Adjuster's permanent flood office endorsed by NFF
The National Flood Forum, has voiced his full support for Cunningham Lindsey's initiative to set up long term office premises in the flood stricken areas of Hull, Sheffield and West Yorkshire.
Catlin builds aviation team
Catlin has announced key appointments to its aviation underwriting team in London and Paris.
Heath Lambert boosts national division
Heath Lambert has strengthened its national division by appointing two experienced names from the insurance industry.
GHLIS prepares full cycle EDI product for Gibraltar based insurers
GHL Insurance Services UK, the appointed UK service provider to Gibraltar-based insurers Link Insurance Company and Zenith Insurance, today announced its intention to distribute a brand new full cycle EDI private motor product on behalf of the insurers…
Witness was amazed by £141m pledge
Terry Masters continued in the witness stand today, with question from the prosecution focusing again on the level of knowledge that he had of the reinsurance contracts between Independent, Ireco and Lureco, writes Sarah Hills .
Indie Trial: Juror dismissed
A juror was dismissed from the trial this morning as the cross examination of Aon broker Terry Masters continued, writes Martin Friel .
A- rating for new IGI parent
AmTrust International Underwriters has been assigned an "A-"(Excellent) rating from A. M. Best. This is the first credit-rating for the company in its own right.
Juror dismissed
A juror was dismissed from the trial this morning as the cross examination of Aon broker, Terry Masters, continued, writes Martin Friel . The juror was dismissed of his duties after the judge, defence and prosecution all agreed that "he was not a…
RIAS partners with Odeon Cinemas
RIAS signed a new partnership with Odeon Cinemas with RIAS sponsoring the Odeon Senior Screen offering the over 50s access to regular, reduced-price cinema screenings across the country.
ARC announces board changes
The Association of Run-Off Companies (ARC) has announced several changes to its board – including the appointment of three new members.
Fortis extends Alliance & Leicester account for four years
Fortis has renewed it contract to underwrite Alliance & Leicester’s travel account, which sees the partnership remain in place for the next four years.
Liberty International appoints Miller
Liberty International Underwriters has appointed Ray Miller as vice president for marine, energy and construction.
Guy Carp hires UK retro specialist
Marsh group reinsurance broker Guy Carpenter has announced the appointment of Simon Welton as senior vice president of the firm’s UK retrocessional practice, effective immediately.
Guy Carp hires Welton for London retro practice
Guy Carpenter has hired Simon Welton as senior vice president of the firm’s UK retrocessional practice, effective immediately. Mr. Welton, 41, will be based in London, reporting to managing director James Boyce.
BDMA attempts to educate public on flood recovery
The British Damage Management Association has published a leaflet entitled ‘Understanding Basic Flood Recovery Procedures’ which it hopes will give flood victims an idea of what the recovery process might entail.
CCV premium up to £70m with latest buy
Cullum Capital Ventures has announced its latest acquisition, with Worthing–based Crawford Davis joining the group.
Thompsons reveals public distrust for personal injury reforms
A survey of over 1,000 claimants by Thompsons Solicitors shows overwhelming opposition to the government's reform for the personal injury claims process.