News
Lloyd's statement on Hurricane Katrina
"Lloyd’s expects to receive significant insurance claims as a result of Hurricane Katrina, predominantly in relation to offshore energy installations in the Gulf, property damage and business interruption.
Lloyd's rating: Fitch decision
Fitch Ratings, has affirmed Lloyd's of London's Insurer Financial Strength (IFS) rating of 'A'.
FSA takes action against 130 companies
The Financial Services Authority's work over the past year to maintain standards among smaller financial firms saw more than 130 firms take corrective action to the way they operate, a statement said today.
JLT backs London market initiative
Jardine Lloyd Thompson has become the fourth broker and 21st business to back Kinnect, the electronic platform which exchanges risk data and wordings between brokers and underwriters.
AIR puts initial Katrina estimate at $12bn-$26bn
AIR Worldwide estimates that Hurricane Katrina could cost the insurance industry between $12 and $26 billion.The insured losses caused by Hurricane Katrina are likely to make it one of the two worst natural catastrophes in US history.
Fusion cuts time it takes to protect businesses through continuity planning
Fusion Insurance has cut the time it takes to for businesses to develop their own bespoke business continuity plan by upgrading their free online planning tool.
Avery appointed Cox chairman
Cox Insurance has appointed former Wellington Underwriting chief executive Julian Avery as its new Chairman.
Equitas makes $300m settlement
Equitas announced today that it has agreed settlements with a further 6 major policyholders at a total cost of $300 million. Included within these agreements are settlements with Kaiser Aluminum Corporation, Crane Company and Congoleum Corporation.
Loss estimates of $10-25bn from Hurricane Katrina
Reports have claimed that over 50 people have been declared dead after violent tropical storm hit the Gulf Coast of the US. In response, Risk Management Solutions has given a preliminary estimate of $10 to $25 billion in total insured losses from…
GE reaffirms (re)insurance sell-off plan
General Electric (GE) is reportedly planning to sell off all of its remaining (re)insurance operations.
Towergate Partnership sets launch date
The Towergate Partnership will be formally created at the end of October after it received approval from the Financial Services Authority.
Insure and Go secures new travel partner
Intermediary Insure and Go has added First Assist as one of its travel insurance providers.
Hurricane Katrina swipes Florida
Hurricane Katrina has hit south-east Florida, killing at least three people and leaving hundreds of thousands of homes without electricity. Flooding has been predicted in many areas due to very heavy rain.
Typhoon Mawar hits Japan
A powerful typhoon has struck near Japan's capital, Tokyo, killing one person and injuring at least two.
Allianz in twin success
Allianz Cornhill Schemes has secured a double new business win.
Fortis GWP creeps up, but motor book falters
Fortis Insurance UK has reported overall gross written premiums for the second quarter 2005 of £297m, an increase of 1% over the same period in 2004 (Q2 £294m).
Kiln raises 03 & 04 syndicate forecasts
Lloyd's insurer Kiln has issued its syndicate forecast results as at 30th June 2005 for the 2003 and 2004 years of account to Lloyd’s.
Axa predicts increased IFA uptake of its protection business
The use of tele-underwriting by IFAs to transact protection business will grow rapidly in the next 12 months, according to new research from AXA.
Swiss Re appoints Jacques Aigrain as Chief Executive Officer
Swiss Re’s Board of Directors has appointed Jacques Aigrain, Chief Executive Officer, effective 1 January 2006. Jacques Aigrain, currently Deputy CEO of Swiss Re, succeeds John Coomber, who will retire as of 31 December 2005. Swiss Re’s Board of…
Working overtime may lead to more accidents
Employees who work overtime are 61% more likely to become hurt or ill, according to a study by the U...
Winners and losers
Post Magazine's monthly round-up of job cuts and gains
Bullying targeted after critical report
The Chartered Management Institute has responded to last week's news of a rising bullying culture in...
Appointment at Navigant Consulting
Paul Braithwaite has joined the New York office of Navigant Consulting as a managing director in the...
BDML bonuses for employees
Broker BDML has set aside more than £500,000 in staff bonuses, following its takeover by Capita last...