News
Airline industry enjoys 18% rate cut
The airline industry saw its lowest levels of losses in history during 2003 resulting in an average reduction of 18% in insurance rates, according to a recent report released by Aon. Terrorism however continues to be an ever-present threat to the fragile…
Willis in new HQ move
International broker Willis has announced plans to occupy a new UK headquarters in the heart of London’s insurance district.
Aon MD joins Heath
Heath Lambert has appointed former Aon managing director Mike Ellis as executive director of its major accounts group.
BIBA introduces new data protection scheme for members
The British Insurance Brokers’ Association has announced the introduction of a new Data Protection scheme for all BIBA members.
New head of sales at Insure-com
Broker software supplier, Insure-com, today announced the appointment of Peter Mroch as head of sales.
Property underwriting team moves from XL Re to Aspen Re
Aspen Insurance has added five property reinsurance specialists to Aspen Re America, within the recently formed U.S.-based property reinsurance team operating out of Rocky Hill, Connecticut.
Aviation market call for long term capacity
The aviation (re)insurance market needs a longer time perspective, according to a leading member of the aviation industry.
APIL warns over EL excuses from sole traders
Health and safety lawyers have warned the government not to excuse ‘one man band’ companies from paying employers’ liability insurance.
Annuity and Life Re finds error in Q3 2003 results
While announcing its 2003 results Annuity and Life Re has had to restate its Q3 announcement. In the third quarter the company incorrectly released approximately $3.8 million of liabilities associated with its Transamerica annuity reinsurance contract…
Barton and Benjamin team up to launch new Lloyd's brokerage
Nigel Barton, who quit Lloyd's managing agency Faraday 18 months ago after a clash of management styles, is forming a new insurance brokerage.
Lloyds TSB sees GI drop
Lloyds TSB saw its general insurance pre tax profit decrease by £33m, or 4 per cent, to £720m in 2003. This comprised a pre-tax profit of £219m (2002: £198m) from general insurance underwriting and £501m (2002: £555m) from broking activities.
Swiss Re calls for financial prudence in aviation sector
The aviation (re)insurance market could be facing a wave of insolvencies if losses continue to outpace premiums, according to the latest Swiss Re sigma report, entitled: Flight to quality - financial security in the aviation insurance market .
Weather derivatives management software improved
A new version of the Climetrix weather derivatives trading and risk management system has been launched to provide the portfolio management capabilities that are needed to participate successfully in the weather derivatives market.
Penrose blames Equitable management
The report into the near-collapse of Equitable Life has strongly criticised the former management of the company.
US D&O battleground to worsen say legal experts
High profile corporate scandals, such as the collapse of Enron, have created turmoil in the market for US directors & officers insurance, members of the International Underwriting Association were told at briefing last week.
Clark to head up new Claims Faculty
Jonathan Clark has been confirmed as the chair of the Chartered Insurance Institute's new Claims Faculty, a joint venture which has been formed by the CII following a merger with the Chartered Institute of Loss Adjusters' Society of Claims Technicians,…
S&P releases gloomier outlook for IORe
Standard & Poor’s (S&P) has revised its outlook on Inter-Ocean Reinsurance (IORe) from stable to negative.
URS studies fine art
Underwriting Risk Services (URS) has announced that it has created a new specialist fine art team.
LLGRC gets thumbs up from AM Best
AM Best has affirmed the financial strength rating of London Life and General Reinsurance Company (LLGRC) at ‘A’ (Excellent), with a stable outlook.
Pritchard completes managing agency MBO
Lloyd's underwriter Mike Pritchard has completed a management buyout of Ensign Managing Agency and with it the right to manage M.S.F Pritchard Syndicate 318. The company has been renamed Beaufort Underwriting Agency.
Allianz Cornhill Commercial expands SME offer
Allianz Cornhill Commercial has introduced two new products, Complete Property Owner and Complete Flatowner, to boost its range of “Complete” products for small and medium-sized enterprises (SME).
Employers warned over obesity claims
UK businesses must act now to counter increasing levels of obesity within the UK workforce or risk f...
Time to test yourself: A selection of questions from various past CII qualification papers
Studying for Chartered Insurance Institute exams or just want to test yourself? See how you fare with these questions - answers below
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