News
AA calls for government to back Ifed expansion amid increased CMC activity
Nearly two thirds of UK motorists have been cold-called by claims management companies in the past year, with 36% contacted more than 10 times, according to research conducted by AA Insurance.
Hester receives £939,000 bonus despite 2014 target miss
RSA CEO Stephen Hester was paid £2.1m in 2014, according to the firm’s annual report.
Catlin to underwrite product for flood insurance excesses up to £50k
Third party administrator Advent Solutions Management and Policy Excess have teamed up to provide homeowners with properties in high flood risk areas with a product that insures against hefty flood excesses.
Biba and Integritas launch broker funding facility
British Insurance Brokers’ Association members can receive advice, and access to funding through a new funding facility launched in conjunction with Integritas.
FCA turns attention to big data and role of appointed representatives
The Financial Conduct Authority will turn its attention to the role of appointed representatives and the use of big data in the year ahead.
Service Insurance Company stops writing new business
Service Insurance Company is to cease writing new business as part of a planned reorganisation of the company involving a number of linked businesses.
Queensland Reconstruction Authority to become permanent
The Queensland state government is seeking to make the Queensland Reconstruction Authority a permanent agency at a cost of A$30m (£15.8m) a year.
Thailand's TQM expects to grow 11% in 2015
Thai motor broker TQM is confident of sustained growth this year despite economic difficulties in the country.
Axa and RSA confident unsigned contracts for driverless cars will not hold up trials
Insurers involved in the upcoming driverless cars road trials have dismissed the significance of delays in the signing of contracts, after the government “unexpectedly” pledged to invest £100m in the technology.
PRA publishes ‘milestone' paper on managers' oversight
The Prudential Regulation Authority has published the scope of its senior managers regime for Solvency II insurers with guidelines on how the regime will apply to non-executive directors to be published later in the year.
Saga seals Biba membership
Saga has signed up to be a member of the British Insurance Brokers' Association.
Allianz and Irwin Mitchell launch ATE product for negligence claims
Allianz has launched an after-the-event insurance product in partnership with law firm Irwin Mitchell to facilitate professional negligence claims against solicitors.
Insurers still have much to do ahead of Solvency II deadline, warn EY and Silverfinch
A survey of asset managers has found that only around 10% of their insurance assets have been in contact to discuss Solvency II issues.
LSM hires claims manager for France
Liberty Specialty Markets, part of Liberty Mutual Insurance Group, has appointed Serge Davidoux to the position of claims manager for France.
CPP continues CEO search five weeks after Escott resignation
Credit card insurer CPP is yet to have identified a suitable replacement for Brent Escott more than a month after the former CEO resigned from the firm.
Great American to establish Asia hub
Great American Insurance is to open an office in Singapore this summer after gaining preliminary approval from the Monetary Authority of Singapore.
Government reveals plan to make London cyber capital
The UK government today (23 March) unveiled plans to make the London market the cyber risk management capital of the world in a report released in conjunction with broker Marsh.
BLM and Cunningham Lindsey launch joint claims handling brand
Law firm BLM has teamed up with loss adjuster Cunningham Lindsey to launch a streamlined service that combines loss adjusting, claims handling and litigation.
Advantage and Argo Global sign binding agreement
Jersey-based Advantage Underwriting has signed a binding agreement with Argo Global to expand its capacity and underwriting proposition.
Zenith extends affinity relationship with Aviva to include pet
Markerstudy subsidiary Zenith has struck an affinity deal with Aviva that will see the insurer underwrite 50% of Zenith’s pet insurance business.
PRA publishes final rules for Solvency II implementation
The Prudential Regulation Authority has published its final rules for implementing the Solvency II directive alongside a consultation paper on the application process for the volatility adjustment.
MGAA launches talent development programme
The Managing General Agents' Association has launched an initiative to increase talent development in the sector.
Employers' liability MGA Concordia launches
Employers' liability managing general agent Concordia has launched facilitated by Ambant Underwriting Services.
Hiscox replaces Direct Asia MD Birch with COO Thaker
Online insurer Direct Asia Group co-founder and managing director Simon Birch has left the company a year after it was acquired by Hiscox.