News
Watson Wyatt warns over terrorist exclusions
Many companies who have insured their employees' lives may find they are not covered should they be affected by a 9/11-style terrorist attack, according to research by Watson Wyatt.
Moody’s places Unum ratings on review
Rating agency Moody’s has placed the credit ratings of UnumProvident Corporation and the insurance financial strength ratings of Unum Life Insurance Company of America and its insurance subsidiaries on review for a possible downgrade.
Compensation claims hitting local authority budgets
Local authorities' bottom lines are feeling the pinch as spurious compensation claims continue to increase. A new report published this week by the Local Government Association (LGA) and Zurich Municipal shows that 68% of councils have experienced an…
OFT grants Pool Re exemption
The Office of Fair Trading has provisionally concluded that the arrangements entered into by the Pool Reinsurance Company regarding terrorism reinsurance for commercial property satisfy the conditions for exemption under competition law.
Cigna to cut 3000 jobs
US health insurer Cigna said it planned to cut 3000 jobs this year as it announced increased profits for the fourth quarter.
Halifax selects Crawford for fraud work
Halifax General Insurance Services has selected Crawford & Company’s Counter Fraud Solutions division to assist its internal Special Investigations Team.
Ace unveils record profits
Bermuda-based Ace has announced record profits for both the fourth quarter of 2003 and the year as a whole.
Aviva predicts surge in profit
Aviva has said it expects its 2003 operating profit will be about £1.9bn, ahead of market predictions of £1.7bn, in a trading statement this morning. It said the forecast was based on strong second half performance at both its general and life business.
Blong joins Benfield
Professor Russell Blong has joined reinsurance intermediary Benfield’s team of natural hazards experts in Australia.
Careers Clinic
This month, our recruitment experts offer advice on the etiquette of resignation and the best way of juggling the search for a new job with your current employment
Lloyd's joins police on London beat
Senior figures from Lloyd's are set to help develop the business planning, change management and fin...
Zurich Municipal aims to cut costs with risk training
Zurich Municipal has been selected by the Public Private Partnership Programme and the Improvement a...
Time to test yourself
A selection of questions from various past CII qualification papers. Studying for Chartered Insu...
FSA bans six for distorting financial results
The Financial Services Authority (FSA) has banned six former directors of a UK insurance company called Chiyoda Fire and Marine Insurance Company (Europe) Limited (CE) for their role in distorting the financial results of CE during 1999 and 2000. CE is…
New head of UK Retail at Marsh
Marsh has appointed Iain Pickard as its chief operating officer for UK Retail.
NU close to HHH commercial sale
Norwich Union is in “advanced negotiations” to sell the commercial business of its high street broker Hill House Hammond, according to intermediary business director Ken Wallace.
CFS snubs India to recruit 500 in UK
Co-operative Financial Services is set to recruit 500 people for a number of its service centres in the North-West of England.
NU says HHH could not compete with personal lines direct players
Norwich Union (NU) has claimed it was forced to close Hill House Hammond (HHH) because it could not compete with direct insurers on the personal lines side or sell it for the right price, reports James Salmon at Insurance Age .
Nicholls to take over as CEO of loss making Aquilo
Claims services company Aquilo today reported a loss for 2003 and admitted that it has been through a difficult period and that "getting the business into shape has taken longer than originally forecast due to the time needed to create new revenue…
First casualties of HHH closure
Andy Powell, insurance relation director and Gareth Lloyd, IT director in Hill House Hammond’s (HHH) Bristol headquarters are set to become the first casualties of Norwich Union’s (NU) controversial decision to sell the broker, reports James Salmon at…
Trade bodies announce merger to tackle personal injury claims
The Claims Standards Association and the Personal Injury Federation have agreed to join forces to form one body that aims to develop a code of practice for companies offering personal injury and claims services.
Swiss Re set to buy CNA Financial book of business
Swiss Re is set to acquire Chicago-based CNA Financial’s book of individual life insurance policies for an estimated $690m.
NU shuts high street broking arm HHH
Norwich Union this morning announced that it plans to close high street broking subsidiary Hill House Hammond. The Bristol-based broking giant employs over 2000 people.
RSA launches new broker marketing campaign
Royal & SunAlliance has launched a new marketing communications campaign – ‘We can’t help helping’ aimed at commercial lines brokers.