News
RAA hails US Non-admitted and Reinsurance reforms
The US House of Representatives has unanimously approved H.R. 1065, the Nonadmitted and Reinsurance Reform Act of 2007, which is designed to streamline the regulation of US nonadmitted insurance and reinsurance.
Broker in private equity firm warning
Almost half of private equity firms believe they will face an increased level of lawsuits over the next two years, according to a survey by Marsh.
Lloyd’s and Benfield agree risk modelling deal
Benfield has signed a five-year agreement to provide a range of risk modelling and consulting services to Lloyd’s syndicates.
London upholds Bermuda BHC gagging order — no hearing until August at earliest
The highest court for Bermudian judicial matters, the Privy Council in London, has imposed a reporting ban pending resolution of the appeal of the Attorney General and the Commissioner of Police in their request for a gagging order against various…
Aon report highlights low levels of captive ownership
Aon's latest attempt to drum up interest in alternative risk transfer has seen the global broker claim there is huge opportunity in captives, with 47% of the world's biggest firms still not owning one. According to a report from the company today the…
Recent floods more severe than Carlisle, warns adjuster
GAB Robins has established a disaster response centre in Brighouse to deal with the extremely high volume of claims being notified across all the affected areas due to the recent floods. With further claims expected in the coming days it has based an…
Miller appoints boss for North American broking
Lloyd's broker Miller has announced that John Eltham has been appointed head of North American broker business.
Crawford faces flood of claims
Over the last two days, Crawford & Company has received 1,500 cases due to the extraordinary weather incident that has rocked the UK.
Floods set to cost businesses £50m on top of property insurance claims
UK businesses will be hit for £50m due to the recent severe flooding, according to a business analyst at Grant Thornton.
Bupa signs Whitbread contract
Bupa Health Insurance has been appointed to provide private healthcare to around 1500 Whitbread team members for the next three years.
HSBC indicates insurance aspirations with senior hire
HSBC Bank have appointed Christen Schnor as head of insurance with responsibilities for the UK, Turkey, the Middle East and Malta.
Policyfast Delivers Courier Product
Policyfast have announced a further addition to its range of products available to brokers on-line in the shape of a courier facility
SPPS launches remote monitoring technology
Crack and level monitoring specialist SP Property Services (SPPS) has launched new remote monitoring technology – subBOX - that will measure building or structural movement.
Abta claims Treasury decision will see more people travel uninsured
The Association of British Travel Agents has said that it is disappointed with the Treasury’s announcement today that travel agents and tour operators will lose their exclusion from Financial Services Authority regulation for the sale of travel insurance.
Allianz Commercial strikes sole SME underwriting deal
Allianz Commercial and Tett Hamilton & Co have announced that following a tender process, Allianz Commercial has been appointed sole supplier for its book of small business.
Fortis names head of affinity underwriting
Fortis has named Allison Sutton as head of affinity underwriting.
Freak weather leads to 40% of annual claims in one day
A statement from Abbey Home Insurance today has said that 3200 claims for floods, 5100 storm claims and 210 for lightening damage were received yesterday. This compares to an estimated 13,700 insurance claims made each year on average as a result of…
Biba boss welcomes "great win" over travel regulation
The British Insurance Brokers’ Association has welcomed the proposals from the Treasury today for the Financial Services Authorty to regulate all organisations which sell travel insurance.
FSA to regulate all travel insurance
The Economic Secretary to the Treasury, Ed Balls, today announced that the Government intends to give the Financial Services Authority (FSA) the responsibility for regulating the selling of travel insurance sold along with a holiday. The FSA at present…
Bermuda poised for ‘corruption dossier’ revelations as courts deny gagging order
Bermudian police and legal chiefs are are fighting a last-ditch action that could see them appeal all the way to the Privy Council in London to obtain a gagging order against local media wishing to publish excerpts from leaked police files from…
Crawford makes Swiss move
Crawford & Company has announced an association with a local partner in Switzerland to form Crawford Partner (Switzerland) which will cover claims management in Switzerland and Liechtenstein.
UIB in Brazil tie-up
London-headquartered United Insurance Brokers group (UIB) announced a new venture in Brazil as part of an expansion strategy for Latin America.
Hertzell to replace Beale at Law Commission
The Lord Chancellor and Secretary of State for Justice Lord Falconer, today announced the appointment of David Hertzell to the post of Law Commissioner.
London Market boss tells of poor morale
The prosecution called its next witness today, with Ian Helmore, formerly assistant general manager at the insurer’s London Market business taking the stand, writes Ralph Savage .