News
Hardy CEO Merry replaced by Brosnan with immediate effect
Hardy has announced that Barbara Merry is to depart the insurer with immediate effect, replaced as chief executive by senior vice president of international, David Brosnan.
Allianz and Jelf renew engineering insurance arrangement
Jelf has reached a ‘preferred partner’ deal with Allianz Engineering that will see the insurer provide a new three-year facility for the majority of the broker’s engineering insurance and inspection business.
Watson cautious on potential rate rise as Ageas suffers £20m flood loss
Ageas UK chief executive Andy Watson has poured cold water on expectations household rates will undergo an imminent rise in light of ongoing flooding, which has so far cost Ageas £20m.
'Loss adjusting' will drift away says Innovation Group boss
After sealing a £35m deal to acquire LAS, Innovation Group chief executive Andy Roberts has forecast the demise of loss adjusting as terminology.
Ex-Gallagher Heath client director Fulthorpe joins UK General
UK General has taken on former Gallagher Heath client director Peter Fulthorpe as commercial division sales manager in the Midlands, Wales and the South West.
Salaries rise 30% for insurance-focused compliance professionals
Compliance, risk and audit professionals working in the insurance sector will earn up to 30% more in 2014 as a result of a shift in regulatory expectations and evolving businesses strategies.
CHO chairman demands further credit hire estimate cuts
Competition Commission reductions to the cost to credit hire do not go far enough according to Steve Evans, chairman of the Credit Hire Organisation.
Competition Commission cuts £30m from credit hire cost estimates
The Competition Commission has admitted errors in its figures on the cost of credit hire, lowering its estimated impact on motor premiums.
Besso appoints Cooper Gay & Company's Hovey as CFO
Independent Lloyd’s broker Besso Insurance Group has appointed Samantha Hovey as chief financial officer.
Ageas profits creep up 3% in a year of rates pressure
Ageas delivered a marginal increase in net profits of £85.2m in 2013 (2012: £82.9m) alongside a combined operating ratio of 98.4% (2012: 99.8%) in a year of underwriting discipline amid pressure on rates.
Brokers clamour for compliance assistance after record Homeserve fine
Commentators suggest fine is evidence of FCA’s strong stance on mis-selling.
Justice Secretary Grayling under pressure to close referral fee loopholes
Epoq’s Legal Go model singled out by Jack Straw as being against spirit of Laspo.
Motor insurance regulator mooted by Straw slammed as ‘unnecessary’
Former Home Secretary’s parliamentary counterpart Evans ‘dead against’ idea.
Tulloch’s flood defence funding plan fails to generate industry support
Analysts say insurers are unwilling to invest in defences without clear returns.
Insurers urged not to jump the gun in entering cosmetic interventions market
Industry warned over potential pitfalls of operating with inadequate expertise.
2014 a ‘critical year’ for insurers says ABI’s Evans
The insurance industry must continue to make its voice heard on issues such as the Competition Commission’s investigation into the private motor market and debate on whiplash reform, ahead of a “critical year” for insurers.
Motor Claims 2014: Davies calls for UK to utilise cross-border data sharing to stamp out European crime
Axa’s global chief fraud control officer Richard Davies has called for the UK to embrace cross-border data sharing in a bid to clamp down on crime across the continent.
Motor Claims 2014: Thatcham boss claims no driverless vehicles on road within next three years
Fully autonomous vehicles are unlikely to be on UK roads in the next three years, despite moves by government to invest in the emerging technology, according to Thatcham Research chief executive Peter Shaw.
Suncorp's profits fall 4.5% as claims rise
Australian insurer and banking group Suncorp saw a dip in its half year profits to A$548m (£296m) from A$574m in the corresponding period the previous year.
Many unresolved claims from 2011 Christchurch earthquake, says Marsh
Marsh reveals ongoing delays from the February 2011 earthquake that struck 6km South-east of Christchurch, New Zealand, which caused severe damage in the central business district and claimed 185 lives.
Liberty Mutual buys in Malaysia
Liberty Mutual Insurance Group has bought Uni.Asia Capital Sdn Bhd's 68.09% stake in Uni.Asia General Insurance Berhad for around $113m.
ICA promotes Queensland building safety study
James Cook University has been asked by the Insurance Council of Australia to design an engineering inspection scheme for apartment and similar buildings known as 'strata-title' properties in North Queensland.
Insurers to supply experts to PM’s flood grant scheme
Insurers have agreed to supply a team of technical experts to work with the government on a scheme to provide grants to flooded home and business owners at today’s Downing Steet flooding summit.
FM Global names Essentra chief exec to board
FM Global has appointed the chief executive of an international plastics supplier to its board.