News
RSA serves up restaurants and hotels policy
RSA has launched a new restaurants and hotels insurance policy offering designed to provide cover for small-unlicensed hotels with up to six rooms or restaurants with up to 150 seats.
Dual recruits from Jubilee for European business development boss
Hyperion-owned Dual has recruited Jubilee’s group head of marketing for a role as director of European business development.
RSA facing potential £35m fine from Irish regulator
RSA could still be hit with a £35m fine as the Central Bank of Ireland continues its investigation into the control failures in the insurer’s subsidiary.
Covéa hands Dixon commercial claims role
Covéa Insurance has appointed Hannah Dixon to the newly created role of commercial claims account manager.
At least 110 million hit by Target data breach
US retailer Target has been left reeling after the discovery that at least 110 million customers had personal details stolen in one of the largest data breaches ever seen.
BP loses court appeal and faces further Deepwater Horizon claims
BP has lost an appeal to the US federal appeals court to limit the compensation payouts for the 2010 Deepwater Horizon oil rig disaster in the Gulf of Mexico.
Costa Concordia removal operation set for June
Stricken cruise liner the Costa Concordia will be taken away for scrapping in an operation beginning in June.
Howden recruits trio to pilot aviation division
Hyperion-owned insurance broker Howden has recruited two from Gallagher and a further specialist from Marsh to bolster its aviation unit.
Allianz unveils legal panel shake-up
Allianz has added Keoghs to its claims legal panel for England and Wales alongside DAC Beachcroft, Berrymans Lace Mawer and DWF following a comprehensive review process.
Ex-ANV underwriter Trueman to head up cyber at Novae
Novae Group has appointed ANV lead underwriter for enterprise risk Dan Trueman as head of its new cyber division.
Ageas to quote for 270 000 more properties with new system
Ageas has expanded its underwriting footprint to quote for approximately 270 000 additional properties in the UK following the implementation of a system that rates on an individual household level.
FCA proposes £34.5m fine for Homeserve
Homeserve UK is facing a £34.5m fine after receiving a draft warning notice from the Financial Conduct Authority.
London market must meet challenges to retain top position says IUA
Four key issues must be tackled for London to maintain its position as a pre-eminent centre for international insurance risks, the International Underwriting Association has warned.
Independent midwives PI deadline extended to February
The deadline for independent midwives to have mandatory professional indemnity cover in place has been extended to the end of February.
Lloyd's syndicate backs Bitcoin storage unit
A Lloyd’s syndicate has become the first to provide coverage for digital currency Bitcoin, Post understands.
R&Q completes Chevanstell transfer
The business of Chevanstell, which traded in the UK as Tryg-Baltica International UK before going into run-off, has become part of R&Q Insurance (Malta) following a part VII transfer.
Ace acquires majority stake of bank's insurance arm in Thailand
Ace has taken a 60.9% stake in the general-insurance division of Siam Commercial Bank for $185m (4.5bn baht).
Zurich eyes bancassurance in Malaysia
Zurich has signed a memorandum of understanding with the Bank of China to explore bancassurance opportunities in Malaysia.
China's Fosun buys Portuguese insurer
Fosun International of China has acquired an 80% stake in Caixa Seguros e Saúde, the insurance arm of Portugese state bank Caixa Geral de Depositos SA for €1bn ($1.36bn), beating out Apollo Management International.
Escott welcomes chance for CPP to 'move on'
CPP chief executive officer Brent Escott has welcomed the outcome of a consumer vote on compensation saying it will mean the firm can “move on as a company”.
Liability onus placed on captive operators by Court of Appeal ruling
Captive operators have been warned the Court of Appeal’s decision to uphold the ruling of the Commercial Court in Astra Zeneca Insurance Company v XL Insurance (Bermuda) and Ace Bermuda will place increased onus on liability policies.
Covéa insourcing Cunningham Lindsey property and liability claims
Covéa is taking management of all property and liability claims in-house, moving work away from adjusting giant Cunningham Lindsey, Post can reveal
IFR live with 'significant proportion' of insurers signed up
The Insurance Fraud Register is now live with the first group of insurers having loaded records onto the database.
Thomas Carroll opens new Swansea office
Welsh broker Thomas Carroll has acquired a new headquarters building in Swansea.