News
Industry promises claims handling improvement after review finds issues
Regulator’s investigation highlights concerns over customer experience.
Brown quits RSA to take on role at Arthur J Gallagher
RSA UK and Western Europe chief executive Adrian Brown has resigned from his role and is to join the board of Arthur J Gallagher as executive chairman of underwriting and distribution.
Caution urged against using widescale exclusions in cyber policies
Insurers are facing calls to stop embedding sweeping exclusions into cyber policies following the emergence of the internet-based Heartbleed bug and Microsoft discontinuing protection updates for its Windows XP operating system.
South Korea ferry sinks
A large car and passenger ferry has sunk off the coast of South Korea after it reportedly hit rocks this morning.
Profitability under pressure at Chinese insurers, says Towers Watson
Softening rates, increased expenses and loss ratios will see China's insurers profitability come under increasing pressure according to Jenny Lai, consultant, property and casualty insurance, China, Towers Watson.
85% of workplace injuries uncompensated says Apil
A huge majority of workplace related injuries and illnesses remain uncompensated according to figures released by the Association of Personal Injury Lawyers.
SEIB completes Lansdown buy
South Essex Insurance Brokers has completed the purchase of Lansdown Insurance Brokers, retaining partners Ray Gill and Fred Irvine.
DLG’s Brown joins KPMG as partner
Direct Line Group’s David Brown has been appointed a non-life actuarial partner in KPMG’s insurance practice.
Further scrutiny likely to follow FCA warnings
Brokers are likely to face further regulatory scrutiny around client money handling, according to financial controls software firm Autorek.
Alpha bumps up broker commission to 40%
Underwriting agency Alpha Underwriting is offering its brokers 40% commission on all corporate travel and personal accident policies placed before the end of June 2014.
Expertise in action: Data validation in the broker space
The insurance industry has invested heavily in its capabilities to detect and stop fraud in recent years. And this is as true at the front end with data validation as it is with claims fraud at the back.
Merrill to lead Ace's global cyber risk practice
Ace has named Toby Merrill as the head of its newly launched global cyber risk practice.
Two brokers in firing line as FCA issues warnings
Two broking bosses have been given warning notices by the Financial Conduct Authority relating to management issues and client money handling.
Broker FSCS levy drops 39% as PPI fears ease
Final levies for insurance brokers have dropped by almost 40% in figures released today by the Financial Services Compensation Scheme.
Marsh joins HCC boards as Bishop departs
Nicholas Marsh has been appointed as non-executive chairman of both HCC International and HCC Underwriting Agency.
RSA emerging markets CEO Whittaker named group COO
RSA has appointed its chief executive of emerging markets Paul Whittaker to the role of group chief operating officer.
Last of crash for cash death gang jailed
The final prosecution over a fatal road traffic collision intended as an insurance fraud has seen Ireneusz Marek Staniak , 43, from Berners Avenue, Ealing last week jailed for nine years for causing death by dangerous driving.
QBE reviews US business
Australian insurer QBE is carrying out a strategic review of its US mid-market unit meaning it could be sold.
A$8.4m of losses from cyclone Ita
According to the Insurance Council of Australia, insurers have received 680 claims (by noon on 15 April) in the aftermath of cyclone Ita, with insurance losses estimated at A$8.4m.
Beazley's Lam moving from Hong Kong to Singapore
Beazley's senior specialty lines underwriter Gordon Lam will be moving to the insurer's Singapore office.
Aspen says Endurance's offer 'undervalues' company
Bermuda-based insurer Aspen's board of directors has rejected an unsolicited takeover proposal from Endurance Specialty Holdings.
RSA will not replace departing CMO Markey
RSA has no plans to recruit a new chief marketing officer when long-time incumbent Pete Markey departs on April 25.
Towergate claims boss Gifford resigns
Towergate’s long-serving claims director is to leave the broker at the end of the month after resigning, Post can reveal.
Consolidation expected as China relaxes M&A rules
KPMG is predicting an increase in sector consolidation following China’s decision to relax merger and acquisition rules for its insurance industry.