News
LMA and IUA release Insurance Act guide
The Lloyd's Market Association and the International Underwriting Association have published a guide to the Insurance Act 2015 to help readers understand any potential challenges under the new law.
Osborne confirms support for insurance sector in Mansion House speech
Chancellor of the Exchequer George Osborne reiterated the government's commitment to making the City of London the leading centre for insurance and reinsurance business in his annual Mansion House Speech last night (10 June).
Aviva finds fraudulent claims totalled £95m in 2014
Aviva has detected more than 14,000 fraudulent claims, totalling £95m, over the course of 2014.
Fidelis model could usher in era of 'responsible underwriting', says Brindle
The business model pioneered by new insurance start-up Fidelis could stoke a move towards more “responsible underwriting”, according to CEO and chief underwriting officer Richard Brindle.
AIG sells Taiwan personal lines and SME book for $158m
AIG has decided to focus on large commercial risks in Taiwan after agreeing to sell its personal lines and SME book to Nan Shan Life for $158m (£102m).
Absolute adds Scotland Yard terrorism head to team
Insurance investigator Absolute has hired former police assistant commissioner Andy Hayman as its strategic adviser and professional standards head.
Independent brokers to benefit from R&Q's delegated authority platform
R&Q Commercial Risk Services has launched a delegated authority platform targeting independent brokers.
Zurich's global CEO "deeply regrets" Lehmann's departure
Alex Lehmann, Zurich's chief risk officer and chairman of Europe, Middle East and Africa, will leave the insurer by the end of the year.
PICC paid 10m yuan within 36 hours of Yangtze shipping disaster
PICC, the insurer for the ship that capsized in the Yangtze river, had already paid out 10m yuan (£1m) within 36 hours of the tragedy.
Now Compare parent to launch insurance company and Frank Bruno ad campaign
The Hong Kong-headquartered broking group Alliance has received approval to launch its own insurance company in the third quarter of 2015.
Former QBE underwriter Bathia to join new Capita-backed syndicate
Capita Managing Agency and Panamanian insurer Istmo Re have received "in principle" approval from the Lloyd's Franchise Board to establish a new Lloyd's syndicate under Capita management.
Aviva unveils cyber cover for SMEs
Aviva has launched its first cyber cover designed for small to mid-market customers to help combat the increasing threat of data and privacy breaches.
Insure the Box places 60 employees on notice of redundancy
Sixty members of staff have been put on redundancy notice at telematics firm Insure the Box, Post has learnt.
Ryan Direct Group rethinks European presence
Outsourcing provider Ryan Direct Group has placed its European business into run-off just two years after taking over the running of the ex-Jubilee Amsterdam-based operation, Post can reveal.
One Commercial adds three
One Commercial, the re-launched commercial division of UK General, has made a trio of senior appointments as it looks to bolster its regional presence and business development capability.
GAP market faces shake-up after FCA competition remedy
Firms distributing guaranteed asset protection insurance in connection with the sale of a vehicle from 1 September 2015 will be required to provide customers with information to help them shop around following new rules published by the Financial Conduct…
Tokio Marine Holdings to acquire HCC Insurance in $7.5bn deal
Tokio Marine Holdings has agreed to acquire HCC Insurance Holdings for $7.5bn (£4.8bn) through its subsidiary, Tokio Marine & Nichido Fire Insurance Co.
$1.5bn Fidelis aims to shake-up global (re)insurance market
Bermuda-based new entrant Fidelis is aiming to provide significant competition in the global (re)insurance sector after a significant investment.
Airmic conference 2015: As it happened
Couldn't make it to Liverpool? Catch up with all the news, views and gossip from the Airmic 2015 conference - with Post's blog.
Dual hires Paradine for non-exec role as MGA eyes Asia-Pacific acquisitions
Industry veteran Terry Paradine, a former chairman and CEO of Marsh Asia-Pacific, has become non-executive chairman at Dual Asia-Pacific.
XL Catlin and Bell Pottinger offer Asia product recall media support
XL Catlin's product recall team is partnering with PR company Bell Pottinger in Asia to offer help with the media in a crisis.
Claims Portal retains CRIF as tech partner following tender process
The Claims Portal board has approved of retaining CRIF Decision Solutions as its technology partner following a tender process for the development and hosting of the portal.
Understanding brand value holding up progress in reputation coverage
Difficulty quantifying brand value is hampering the development of the reputational insurance market, despite increasing demand from companies to protect their brands from the threat of social media onslaughts.
Product ratings championed as alternative to claims ratios for add-ons
Legal expenses insurers have supported product ratings as an alternative remedy to publishing claims ratio information for add-on products, but only if the ratings are based on detailed and relevant criteria.