News
Kwik-Fit Insurance expands with niche broker acquisition
Kwik-Fit Insurance, has completed its first acquisition, gaining 100% of the share capital of Express Insurance Services for an undisclosed sum.
BUPA Individual Protection - Award winning critical illness products
BUPA Individual Protection's range of critical illness products has been awarded five stars from Defaqto.
DAS reports £5.7m profit
DAS UK Holdings Limited has reported profit before tax in 2006 of £5.7 million.
IIB says commission disclosure not achievable
In a written response to a request from the FSA for information from trade associations on the subject of commission disclosure, the IIB has been extremely robust in its response.
Condon frequently overruled by Bright
Gareth Rees, counsel for Philip Condon argued today that his client was frequently overruled by Michael Bright and that despite his title, he didn’t always play the role of a managing director, writes Ralph Savage .
Staff perceived Lomas as honest and straightforward
Former Independent Insurance finance director Dennis Lomas warned senior management that the deficit resulting from the company’s reserving strategy was approximately £50m, writes Ralph Savage .
Markel (UK) announces launch of new management risks’ policy
Following the Social Welfare product launch, Markel (UK), the retail division of Markel International, has launched a newly developed Management Risks ‘combined’ wording to protect the directors of UK private companies against directors’ & officers’ (D&O…
FSA publishes feedback on private equity risks
The Financial Services Authority (FSA) has published its feedback to Discussion Paper 06/6 Private Equity: A discussion of risk and regulatory engagement, which examined the impact that growth and development in the private equity market has on the FSA's…
RSA recruits Mitchell as claims and underwriting chief
Royal & Sun Alliance Insurance Group today announced the appointment of Timothy Mitchell to its Group Executive Committee.
Arista recruits Zurich's property and liability bosses
Commercial lines underwriting operation Arista has this week appointed Gregor Elrick as head of property and Carl Steventon as head of liability.
Survey: Risk managers concerned about broker transparency
AIRMIC delegates are still concerned about Broker remuneration and transparency according to the results of an interactive survey conducted by Oxygen Insurance Brokers at this year’s AIRMIC conference.
Benfield reports of £8m impact of Lloyd's settlement
Benfield today announced that it has reached a conclusion with Lloyd's in relation to the New Central Fund dispute and that the financial impact of the agreement will be approximately net £8m. This will be accounted for as an exceptional item.
Lloyd's settles with broker giants
Lloyd's has reached a settlement with the two brokers involved in the placement of the New Central Fund insurance policy.
Claims Direct relaunch
The Claims Direct brand is set for a multi-million pound relaunch ahead of changes to the legal sector. The business was bought in 2003 by law firm Russell Jones & Walker after the company went into administration in 2002.
Deadline for UK Broker Awards extended
The deadline for the UK Broker Awards has been extended to Friday 15 June to allow brokers to get their applications into Insurance Age.
Bright's wishes ignored in reducing reserve 'gap'
Southwark Crown court heard how in 1999 witness Stuart Pettet and his collegue Patricia Clarkson achieved a closure of the GCD gap in a manner contrary to Michael Bright’s wishes, writes Ed Vinales .
Equity wins Man trucks contract
Equity Insurance Group has announced an affinity deal with Man Financial Services, a division of truck and coach manufacturer, Man ERF UK.
Fortis and Allianz to pilot claims scheme
Allianz Insurance and Fortis Insurance have agreed to pilot the Inter Resolve Bodily Injury Claims Scheme.
Mutual body in membership drive
The Association of Friendly Societies has launched an associate membership scheme.
Aviva recognised at UN diversity summit
Norwich Union parent Aviva has been recognised for its international diversity programmes at the World Diversity Leadership Summit, hosted by the United Nations Global Compact.
Arc launches tax protection scheme for landlords
Arc Legal Assistance has launched its first tax protection scheme, for the National Landlord Association.
Converium loses chief risk officer
For personal reasons Converium's chief risk officer Markus Krall has decided to leave the company by June 30, 2007
Defence: claims handling not inherently fraudulent
There was nothing inherently fraudulent or dishonest about Independent’s claims handling techniques, said the counsel for the defence this afternoon, writes Ralph Savage.
Novae hires former Wellington property team
Novae has entered the UK property market with the appointment of a leading underwriting team.