News
Consumer panel urges FCA to establish company rating system
The Financial Services Consumer Panel has called for the Financial Conduct Authority to establish a rating system to help the public determine which financial services firms are likely to treat them well.
Clyde & Co enters Scotland with Simpson & Marwick merger
Law firm Clyde & Co is to establish a Scottish presence through a merger with Simpson & Marwick, effective from 1 October.
Insurance ranked worst industry for customer experience, survey finds
The insurance sector has once again been slammed for its poor customer service, ranking bottom for customer experience in a survey by service design consultancy Engine.
Goldman Sachs could pocket 400% return on Hastings investment
Goldman Sachs could bank a return of 400% on its stake in Hastings following the UK motor player’s stock market floatation next month, if investors respond as expected, according to reports.
Just half of European GI firms' websites deemed 'mobile responsive'
Just over half of general insurance companies’ websites across Western Europe and Poland have developed a mobile-responsive website, according to research by consulting and market research firm CP Consulting.
RSA promotes Middle to global telematics role
RSA head of telematics partnering Paul Middle has been promoted to a global role that will see him assume the UK responsibilities vacated by former RSA telematics director Bob Skerrett.
Cost and availability of NEDs in question amid regulatory pressures
The increasing level of responsibility associated with being a non-executive director could serve to diminish the number of available candidates and drive up the cost of recruitment, according to the International Underwriting Association.
Lloyd's underwriters back skilled migrants insurance product
An insurance product specifically for skilled migrants has been launched with the backing of certain Lloyd’s underwriters to provide security for people immigrating, or those who have already immigrated, to Australia and New Zealand.
Flood Re regulations moved to next stage at Westminster
Parliamentary scrutiny of Flood Re has been welcomed after the secondary legislation to make the scheme fully operational in time for its launch next year was considered by a House of Commons Delegated Committee yesterday (15 September).
700 QBE shareholders begin A$200m class action lawsuit
700 of QBE's shareholders are attempting to recover over A$200m (£93m) from the insurance giant after its share price collapsed in December 2013.
Tianjin is a "wake-up call" to cargo insurers, says IUMI cargo chairman
Nick Derrick, chairman of the International Union of Marine Insurance cargo committee, told this year's conference the explosions in Tianjin on 12 August are a "substantial wake-up call."
Hastings IPO tipped to benefit from recent M&A activity
The timing of Hastings Insurance Group’s initial public offering could attract investors with surplus cash following the recent spate of insurance mergers and acquisitions, according to industry analysts.
Regulation of MROs championed on both sides of the legal divide
Claimant and defendant lawyers have backed the Association of British Insurers' call to regulate medical reporting organisations working within Medco following concerns that the scheme is being exploited by some users.
Judge dismisses “bang to rights” claim on fundamental dishonesty grounds
Conwy and Colwyn County Court sunk a personal injury claim deemed exaggerated and fabricated after a judge found a claimant pulling a dishonest "bang to rights" move.
London market diversity under the microscope as consolidation continues unabated
The London market is in danger of becoming too consolidated as a result of the current M&A wave, commentators have warned, with market diversity dependent on small start-up businesses emerging in the coming years.
Claims down 15% in Q2 as benign winter sees weather losses plummet
The total number of claims dealt with by the insurance industry in the second quarter of 2015 fell by 15% to 311,000, according to figures produced by the Association of British Insurers.
Horton first of founding ABC team to depart LV
LV chief operating officer Peter Horton has left the insurer.
Hastings Insurance Group announces £180m IPO
Hastings Insurance Group has announced its intention to proceed with an initial public offering and float on the London Stock Exchange.
Alibaba-backed Ant targets China's internet market with £120m purchase
Cathay Financial Holdings has agreed to sell a 60% stake in Taiwan-headquartered Cathay Insurance (China) to Alibaba-owned Ant Financial.
Battman to leave Gallagher and join BMS
David Battman, managing director, international business development at Arthur J Gallagher, is to join broker BMS at the start of 2016.
Turkish market still overly reliant on underperforming motor says Fitch
The Turkish insurance sector's profitability remains driven by the performance of the motor insurance segment, according to a new report by Fitch.
Market Moves - 17 September 2015
All the latest recruitment news from the world of insurance.
Labour leader Corbyn names Shadow Cabinet
Newly elected Labour leader Jeremy Corbyn has announced his Shadow Cabinet including Hayes and Harlington MP John McDonnell as Shadow Chancellor of the Exchequer and West Bromwich East MP Tom Watson as deputy Labour leader.
Asta swoops for Fisher for NED role
Former Arthur J Gallagher International chief underwriting officer Sian Fisher has been appointed a non-executive director of Asta Underwriting Management.