News
US January insurance storm claims hit $1.4bn
Catastrophe modeller Impact Forecasting said January's weather in the US cost insurers at least $1.4bn and economic losses of $3bn. Asia also saw its fair share of cold weather in January.
Physio suspended from practice for faking insurance invoices
A physiotherapist has been suspended from the Health and Care Professions Council register for falsifying insurance invoices while working at a clinic in Hammersmith, London.
MGB recruits former Dickson Manchester boss as non-exec
MGB Insurance Brokers has named the former director of wholesale professional indemnity broker Dickson Manchester & Co as a non-executive.
Household premiums tipped to rise as adverse weather takes hold
Property premiums could be set to rise in 2014 as mounting flood losses begin to take their toll on insurers, according to Deloitte insurance partner James Rakow.
Sterling and BMG team up on pet venture
Sterling Insurance Group and BMG Insurance Brokers have partnered on a new venture, Sterling Pet Solutions that will provide affinity products for UK pet insurance providers.
ICAB appoints Allsopp to finance role
The Insurance Claims Accommodation Bureau has appointed Tim Allsopp as its finance head.
IFIC Forensics launches fire triage service
IFIC Forensics has launched a forensic fire triage service which aims to reduce insurers’ exposure to claims leakage from residential and small commercial arson cases, particularly in times of claims surge.
Unrated carrier Eric no longer accepting new business
The European Risk Insurance Company appears on the brink of collapse after advising it is no longer able to accept new business, renewals or requests for coverage increases.
Beazley targeting 2% investment yield for 2014
Specialist London insurer Beazley is hoping to return to 2012's investment yield next year after recovering from plummeting returns in the first half of 2013.
Junction reaches two million customers
BGL Group’s partnership business Junction has doubled its customer base since 2007 announcing today it now manages more than two million customers.
Cigna enters affinity partnership with P&O ferries
P&O Ferries has appointed Cigna Insurance Services to provide a white-label travel insurance service for its customers.
Cunningham Lindsey on the scene following Clacton gas explosion
Cunningham Lindsey has confirmed it is dealing with 10 separate property claims following a gas explosion in Clacton, Essex, which has left 10 people injured and destroyed two homes.
Beazley tipped to cope with 'challenging' 2014 as share price heads skywards
The stock market is expected to continue to respond favourably to Beazley’s “impressive” 2013 results, according to Westhouse Securities analyst Joanna Parsons.
Beazley records its lowest COR since 2002 listing
Beazley shaved seven percentage points off its 2012 combined operating ratio of 91% in chalking up the lowest COR since the insurance firm became a public company 12 years ago.
UK customers among least loyal on home and car insurance
UK insurance customers are among the least loyal to their car and home insurance providers, according to new figures from Accenture.
Workforce and technology concerns remain despite SME optimism
Small and medium sized business owners are now less concerned about risks facing their operations than at any time over the past 18 months, according to Zurich’s SME risk index.
Berg to leave Insurance Council of Australia's board
Ian Berg, the outgoing vice-president and operations manager, Australia for FM Global is to leave the board at the Insurance Council of Australia.
Indonesian insurers to shrug off floods, says Fitch
Fitch Ratings has said the January flooding in Singapore is likely to have limited impact on the local insurance market.
Beazley forecast for £17m boost in profits
London insurer Beazley will tomorrow report profits of almost $278.8m (£171m) alongside a special dividend of 8.5p according to a Westhouse Securities analyst.
Marsh report highlights falling UK insurance rates last quarter
Insurance rates in the UK mirrored those of Continental Europe and Asia-Pacific in falling in the fourth quarter of last year, according to Marsh’s latest global insurance market quarterly briefing.
Direct Line founder Peter Wood on broker battles and kicking cats
The founder of Direct Line has described “getting out alive” as his best experience of the 1995 British Insurance Awards.
ANV eyes Lloyd’s expansion as it diversifies from marine business
ANV is looking to grow its presence in the Lloyd’s market and is actively engaged in acquisition talks, chief executive Matt Fairfield has told Post.
RSA commits to Edinburgh by opening new trading site
RSA has opened a new trading site in Edinburgh following feedback from brokers in the region.
ICAT and Ariel partner on US SME cat coverage
US property catastrophe insurer ICAT has partnered with Ariel Syndicate to deliver additional risk capacity to catastrophe-exposed small and medium sized businesses in the US.