News
Brokers call for Tria extension
Leading US brokers are calling for the extension of the federal Terrorism Risk Insurance Act (Tria), according to a new survey.
FSA finalises reporting requirements
The Financial Services Authority today finalised its reporting requirements for firms involved in mortgage, general insurance or retail investment activities. These proposals were initially put forward in CP197: Reporting requirements for mortgage,…
Allianz Group receives improved rating from Fitch
Fitch Ratings has changed the rating outlooks on Allianz Holdings and Allianz Lebensversicherung to positive from stable. At the same time, it has affirmed their Insurer Financial Strength (IFS) ratings at 'A+' and Allianz Holdings' long-term rating at …
Zurich North America announces new COO
Zurich has announced today that Thomas Bradley will become chief operating officer of finance and administration, and chief financial officer of its North American commercial operations.
Insurers lose first round of EU gender battle
MEPs in the European Parliament, have, as expected, rejected an ammendment to the Gender Equality Directive which would have allowed gender to continue to be used as a factor in underwriting decisions. Ministers from all member states will discuss the…
Halifax claims head joins start up
Jim Pittman has today announced his resignation from HBOS General Insurance. He will leave the company on 8 April.
Posgate goes to Aon Re International
Aon Re International has announced that Richard Posgate has been appointed group operations director.
Hiscox acquires 1861 renewal rights
Hiscox has announced that it has reached agreement with Marlborough Underwriting Agency, a wholly owned subsidiary of Berkshire Hathaway, for the renewal rights for the majority of business currently placed with Marlborough Syndicate 1861. The…
Alarm warns against gratituous care claims
Alarm – The National Forum for Risk Management in the Public Sector – has warned public sector organisations to increase their awareness of gratuitous care claims, and consider the potential resources which may be required to deal with an increase in…
Axa appoints finance business partner
Axa Insurance has announced that Laurent Matras has been appointed as finance business partner and will join the AXA Insurance executive.
Norwich Union appoints underwriting manager
Norwich Union has appointed Paul Murphy as underwriting manager for casualty specialist claims.
Hannover Re profits from 2003
Hannover Re has posted a €732.1m profit for 2003, a rise of 55% on the €470.9m it made over 2002.
ASDA offers pet insurance throughout its stores
People in the UK are up to six times more likely to insure their carpets and pot plants than their pets, according to ASDA, which is today offering pet insurance at all its 265 stores following store trials.
Saga secures replacement vehicles for policyholders
Enterprise Rent-A-Car today announced a new deal for providing replacement vehicles to Saga, the company that specialises in products and services for the over 50s – including insurance. Its comprehensive motor policyholders will be guaranteed a high…
Link wins car scheme contract
Link has won the contract to provide insurance cover for a car scheme for the Gloucestershire based intermediary, Asset Trust Group, in a deal worth more than £1m.
AIG teams up with supermarket giant for new insurance launch
Sainsbury's Bank has become the first supermarket bank to enter the health insurance market.
Cooper Gay opens Chile office
Cooper Gay has opened an office in Santiago,Chile as part of an ongoing strategy to grow itsinternational presence.
Gales cause insurers to pay out for broken windscreens
This weekend’s major gales have cost insurers over £250,000, according to RAC Auto Windscreens, which reported an increase of 72% in the level of calls taken at its call centre to repair and replace windscreens.
Lloyd's facing slavery claims
A billion dollar damages claim is to be filed at 5pm UK time today, against Lloyd's of London, Fleet Boston, Reynolds Tobacco and the US Government, for their alleged involvement in the Trans-Atlantic slave trade.
Groupama announces first regional key accounts recruit
Groupama Insurances has appointed Louise Austin as key account manager for the north east of England, following the announcement of its new broker distribution strategy last week (Post Magazine, 25 March 2003, P56).
New IUA Compliance Committee is to tackle insurance regulation burden
New demands from the Financial Services Authority are top of the list of regulatory concerns for the London insurance market, according to the Compliance Committee of the International Underwriting Association.
Composite signs up Groupama as risk carrier for BTE legal expenses insurance
Composite Legal Expenses announces that Groupama Insurances is to be its new risk carrier for Before-The-Event legal expenses insurance distributed through insurance brokers and specialist affinity groups.
Credit hire firm seeks listing
Accident Exchange, the Association of British Insurers approved replacement vehicle specialist, is to seek admission to the Alternative Investment Market.
Businesses need to act now to manage asbestos risk, says First Assist
With 3,500 people in Great Britain dying each year from mesothelioma and asbestos related lung cancer, and the number of deaths predicted to grow still further, the government is introducing new plans to control asbestos within the workplace. As the 21st…