News
ABI: Floods to cost £1.5bn
The Association of British Insurers now estimates that some 27 500 homes and 7000 businesses were affected. The increased number of business claims, together with clearer information about the amount of damage to many homes, has led the ABI to revise its…
FSA quizzed Ireco boss
Today’s proceedings saw prosecution barristers Emily Radcliffe and James Pavry submit evidence from the regulator’s investigation in 2004 over Independent’s collapse, writes Ralph Savage .
Post Magazine office move - new contact details
From 9 July, Post Magazine will move with the Incisive Media Insurance Division to 32-34 Broadwick Street, London, W1A 2HG. All telephone numbers will change.
Professional Broking moves office
From 9 July Professional Broking, the management magazine for insurance brokers, will move with the Incisive Media Insurance Division to 32-34 Broadwick Street, Soho, London, W1A 2HG. All telephone numbers will change. Please call 020 7316 9000 for…
Citizens boosts liquidity with $1.95bn
Florida's state-run insurer Citizens has completed two transactions to provide $1.95bn in extra claims-paying liquidity for its personal and commercial lines accounts, the AM Best newswire has reported.
Allianz rehab team grows
A trio of specialist staff have been hired by Allianz Insurance to help coordinate rehabilitation services for claimants who have suffered severe injuries, writes Kirsten Powley .
Ferma against risk management standard
The Federation of European Risk Management Associations announced it considered undesirbable a formal international risk management standard. It added that such standard would not benefit European companies.
Kiln set to reduce capacity in 2008
Lloyd’s insurer Kiln has announced plans to reduce its capacity by 14% next year.
Prosecution says whiteboard hidden from reinsurers
The latest prosecution witness has said non-core reinsurers did not have access to information about major losses, which were kept on a white board and not put into the system, writes Ana Paula Nacif .
TSR lowers US 2007 storm forecast a notch
The latest outlook for the 2007 Atlantic hurricane season issued by the Tropical Storm Risk (TSR) forecasting consortium has seen TSR slightly lower its forecast from the 55% above-norm predicted in its June forecast to 40% above-norm.
RSA flood loss estimate £55m
Royal & SunAlliance Insurance Group has announced an estimate of £55m, net of reinsurance recoveries, for claims arising from the recent flood event in the North of England.
Police Mutual acquires Roland Smith Insurance Brokers
Police Mutual acquired of Roland Smith Insurance Brokers in a deal which brings together two providers of financial services to the police.
British Insurance Awards: winners revealed
The winners of the British Insurance Awards 2007 were announced last night in front of a packed audience of 1800 at the Royal Albert Hall in London. The awards were hosted by comedian Dara O'Briain, accompanied by Anthony Gould, editor in chief of…
Fortis wins lead on M&S money contract
Fortis has been appointed by Budget subsidiary and affinity insurance provider Junction as the lead insurer on M&S Money’s motor panel in a four-year deal.
Post and Insurance Age journalists gain Biba accolades
Journalists from Post Magazine and Insurance Age were honoured today at the 25th British Insurance Brokers' Association Journalist of the Year Awards. Jonathan Swift, Post editor scooped the overall Journalist of the Year Award, and deputy editor Lynn…
NU estimates flood costs at £175m
Norwich Union parent Aviva has warned investors that the recent floods will impact the group's first half result to the tune of £175m.
Hannover Re to open office in Bahrain
Hannover Re has announced it is increasing its reach in the Arab world by opening an office in Bahrain.
GAB reappoints director
GAB Robins has announced the appointment of Mark Pierce as UK corporate account director to strengthen its client relationship structure.
Highway in Budget swoop
Highway's broking subsidiary Hero Insurance Service has agreed to buy 32 000 private car policies from Local Broker, an insurance intermediary brand that is part of the Budget Group of companies for a consideration of £2m.
Esure contact agent wins Direct Excellence award
Joanne Downes, who works at Esure's motor insurance call centre in Manchester, is the latest recipie...
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Calls for the human touch
Insurers should rethink their use of automated response and put more "real human" voices at the end ...
Thatcham crash courses delivers next generation
Norwich Union's chief engineer has hailed the re-emergence of apprenticeship programmes after he awa...
Pick of the Week
Anthony Gould, editor in chief of Post Magazine provides an insight into some of the major news in th...