News
Supply chain communications issues threaten insurers' reputation
Differing methods of communication compares poorly to other sectors
Canopius recruits Zurich’s UK accident and health boss
Canopius has named Zurich’s head of UK accident and health as the divisional underwriter for its own operation.
Pool Re-style cyber terrorism facility could stimulate the market for insurance
Cyber insurance concept raised at CFC Cyber Symposium
Trade bodies fight for re-worded clauses to be restored to Insurance Bill
Biba and Airmic address House of Lords' committee in attempt to restore axed clauses
Hertzell's fraud role coincides with Law Commission exit
David Hertzell's term as law commissioner is to end on 31 December, coinciding with his appointment as head of a taskforce to tackle insurance fraud.
Average policy savings of £15 predicted following My Licence launch
Motor Insurers’ Bureau CEO Ashton West has set his sights on the “the holy grail” of delivering claims data at the point of quote by 2016, following the launch of the My Licence initiative, which is expected to spark customer savings.
FCA reportedly axing bonuses over insurance scandal
The Financial Conduct Authority is set to cancel bonuses for several of its senior executives following leaks over an investigation into the insurance sector, according to the Financial Times.
Ex-Amlin and QBE project leader Day replaces Hobbs as IUA programme director
The International Underwriting Association has appointed Louise Day as programme director to lead company involvement in the London Market’s modernisation programme.
Airmic calls for one-day policy issuance to become industry norm
Airmic has called on, insurers, brokers and risk managers to work together to start the renewal process earlier and change market practice, in a bid to achieve day-one policy issuance.
India's foreign investment Insurance Bill nearer
The long awaited Insurance Bill to increase the foreign direct investment cap from 26% to 49% in Indian insurance companies is one step further to being passed.
Berkshire Hathaway wins Singapore license
US specialty insurer Berkshire Hathaway has obtained a non-life license in Singapore.
Hagupit death toll rises to 27
Typhoon Hagupit has now claimed the lives of at least 27 people in the Philippines.
My Licence officially launches
The My Licence initiative has officially been launched by the Motor Insurers' Bureau and the Driver and Vehicle Licensing Agency.
FCA's Adamson exits regulator amid structural overhaul
Financial Conduct Authority supervision director Clive Adamson is to leave the regulator as part of wider structural changes within the organisation.
Insurers challenge 'wait and see' image and take action on technology
Insurers are increasingly looking to invest in or acquire digital start-ups to provide the expertise they need to pursue their ambitions in this sector, according to market insiders.
Former LAS manager Hogarth handed North America remit
The most senior remaining member of LAS’s management team has been handed a promotion at Innovation Group, taking on product development for North America.
One in five London insurers ‘materially reliant’ on investments to turn a profit says PWC
20% of London market insurers will require solid investment returns in order to record a profit through to 2015, according to PWC, who point to a continued abundance of capacity dampening rate increases.
Jelf network Purple reaps benefits of market 'turmoil'
Jelf Group CEO Alex Alway says current "market turmoil" has benefited the company's broker network Purple Partnership.
LV extends Nationwide motor contract
LV has completed a deal to further extend its partnership with building society Nationwide on car insurance products.
Quindell recruits PWC for accounting review
Insurance services firm Quindell has appointed PWC to conduct an independent review of accounting policies and forecasts for cash generation.
Jelf Group insurance revenues rise 14.4%
Jelf Group has seen revenues from its insurance business grow 14.4% to £55.2m for the year ended 30 September 2014.
Towergate sells Hayward Aviation to JLT for £27m
Jardine Lloyd Thompson Group has bought Towergate's Hayward Aviation for £27m.
Ageas UK and Tesco Bank extend underwriting partnership
Ageas UK and Tesco Bank have extended their Tesco Underwriting partnership with Ageas UK CEO Andy Watson saying the commitment underlines the strength of the collaboration.
Esure buys remaining Go Compare stake for £95m
Esure has purchased the remaining 50% stake in aggregator Go Compare for £95m giving the price comparison website a valuation of £190m.