News
This is the week that was
Anthony Gould, editor in chief of Post Magazine provides a quick run down of some of the major news reported in Post Magazine tomorrow. Click here to watch now: http://www.incisivemedia.com/post/video/index.html
London market insurer identifies broker partners for regional push
Global insurer Endurance has announced details of its UK regional broker network to support its direct medium-large commercial property business.
EC raises questions over common reinsurance practice
The European reinsurance industry could be acting in a manner which restricts competition, the European Commission said in its long-awaited report out today. The Business Insurance Sector Survey, published by the European Commission Competition…
Compensation scheme gets independent seal of approval
An independent analysis has shown that the Personal Injuries Assessment Board delivers the same level of compensation to accident victims but three times faster and through a delivery system which is four times cheaper than the old litigation route.
Marsh welcomes EU report
Moves to put the client at the centre of the business insurance transaction, contained in the interim report on business insurance published today by the EU Competition Commission, should be welcomed and embraced by the industry, according to Marsh.
Long-awaited EC competition report published today
The European Commission competition directorate has finally published its business insurance sector enquiry.
The insurance industry’s response to FSA announcement on contract certainty
The Contract Certainty Steering Committee (CCSC) - the insurance industry body responsible for leading the contract certainty initiative - has welcomed the Financial Services Authority's (FSA’s) announcement confirming that the industry has delivered on…
Towergate launches student travel scheme
Towergate Chase Parkinson and STA Travel today announce the launch of a new insurance scheme designed to make life easier for students and young people travelling abroad.
FSA – "Savings Claims" in Insurance advertising can mislead consumers
The Financial Services Authority (FSA) last week warned insurance firms to stop using savings claims which could mislead consumers in their advertising or face regulatory action.
SLE parent hires new UK boss
AUM Group has appointed Andrew Colbran as managing director in the UK.
Florida $4bn premium ‘nationalisation’ piles pressure on Bermudians
Shares in Bermudian reinsurers took a sharp hit on Monday 22nd January in the US as the markets digested the impact of a new Florida Hurricane Catastrophe Fund deal hammered out over the preceding weekend.
FSA recognises industry solution to contract certainty
The Financial Services Authority (FSA) has announced that the insurance industry has met the challenge laid down to achieve a solution to contract certainty in the UK.
Mahoney off to Bermuda
Broking giant Aon has announced the creation of a new business unit to be called Aon Global. Dennis Mahoney will assume the role of chairman for Aon Global, while Steve McGill will be the new unit’s chief executive.
RMS estimates £1.9bn-£3.2bn windstorm loss
Risk Management Solutions has released an initial estimate of EUR3-5bn (£1.96bn - £3.27bn) for insured losses from Windstorm Kyrill.
HCA international launches platinum choice for corporates
London’s leading private hospital company, HCA International, is launching a revolutionary new healthcare product this month to meet the demands of the corporate marketplace in the capital.
THB launches construction product to select brokers
Insurance schemes specialist, THB Risk Solutions Ltd (THB), has added Construction UK to its portfolio.
Highway launches new fleet product
Motor insurer Highway has begun a push for fleet motor business by combining its Fleetway and Fleet products to form a new improved single fleet product.
Converium capitalises on new Brazilian regime
Converium has become one of the first foreign reinsurers to take advantage of the increasingly liberal reinsurance regime in Brazil.
Marsh given China broking licence
Marsh has been awarded China’s first ever wholly-owned foreign enterprise insurance broking license. The new license provisions, subject to tax and regulatory approvals, are in-line with China’s World Trade Organisation commitments to open its insurance…
Partner Re sees 10 per cent decline in renewable premium
Partner Re shifted its focus to catastrophe lines in the January 1 renewals, while simultaneously witnessing a 10% decline in renewable premium, the company said in a statement today.
New Household Product from Equity Red Star
Equity Red Star is launching a new product, developed to provide brokers with a competitive edge in the household insurance market.
Swinton signs major three year deal
High street broker Swinton today announced it has renewed and extended its relationship with Software Solutions Partners, to provide IT solutions for its nationwide branch network, call-centre and web-based operations.
Former CEO returns to head White Mountains
White Mountains has embarked on a reshuffle of its senior management. The company has once more called upon the services of Ray Barrette as chairman and chief executive officer, succeeding Jack Byrne as chairman and Steve Fass as chief executive. In…
Equity acquires Holdsure
Equity has acquired Carrickfergus-based insurer, Holdsure; a move designed to further consolidate its market leading position in Northern Ireland and closely follows its purchase of Belfast Broker, Open and Direct Insurance Services.