News
FCA fines Swinton £7.4m for mis-selling add-ons
The Financial Conduct Authority has fined Swinton almost £7.4m for the mis-selling of add-ons.
Axa blocked in latest Autofocus retrial bid
Axa has experienced a legal setback in the latest of its battles with credit hire firm Accident Exchange, just a week before an Autofocus retrial is scheduled to come to court for the first time.
Bluefin unveils new COO
Bluefin has appointed Tim Philip to the newly created position of chief operating officer.
Axa whiplash report calls for compulsory MRI scans as evidence
The UK should introduce mandatory MRI scans and impose a time limit on the appearance of symptoms to curb the number of spurious whiplash claims, according to Axa.
Canopius acquires Equity's home and PA books and 25% Arista stake
Canopius has purchased Equity Insurance Group’s home and personal accident books as well as a 25% shareholding in Arista Insurance.
Tailored approach is essential to European disaster management
Insurance Europe has warned there is no “one-size-fits-all” solution to the insurance required for natural and man-made disasters in Europe and called for insurance cover to be tailored to the different type of risks and their locations.
Tailored approach to European disaster management is essential
Insurance Europe has warned there is no “one-size-fits-all” solution to the insurance required for natural and man-made disasters in Europe.
Biba partners with UKGI on members’ helpline
The British Insurance Brokers’ Association is to work with compliance consultancy UKGI to provide compliance helpline facilities to its members.
Downward trend in airline insurance premiums set to continue
The loss of an Asiana Boeing 777 aircraft earlier this month will do little to change the downward slide in premium prices in the airline insurance market, a report by Willis said.
Barclays ends PPI complaints handling contract with Deloitte
Around 300 staff employed by Deloitte to handle payment protection insurance claims for Barclaycard were told their contracts would finish a month earlier than scheduled, The Times reported.
China government catastrophe guarantee 'needed urgently', says Munich Re
He Hua, a catastrophe consultant for Munich Re in China, has called for the industry to put more pressure on the government to introduce a public private partnership to help guarantee the payments of catastrophe claims, especially for large earthquakes.
Insurers' investment income 'dropping quickly'
Low interest rates are hitting insurers hard as bonds mature, and regulators are not keeping up with the new investment environment, said Michael Morrissey, president and CEO of the International Insurance Society.
David Wynn new partner at Clyde and Co
David Wynn has joined lawyers Clyde and Co as a partner at its Manchester firm.
Insurers look to diversify by entering private loans market
Low rates and new regulations are driving European insurers to diversify their asset allocation by investing in more illiquid asset classes, notably private loans, Moody's said in report published today.
Aquila Underwriting completes Leadenhall Street relocation
Aquila Underwriting has relocated to new offices at the heart of the London insurance market on Leadenhall Street.
Q2 cat losses "manageable" for insurers
Second-quarter catastrophe losses, including flooding in Germany and the rest of Europe, appear manageable for most European and US insurers, according to SNL Financial.
Equity Red Star’s strategy prompts reorganisation
Lloyd’s motor insurer Equity Red Star is to reorganise its motor division and senior management team as part of a new strategy.
Mapfre Assistance offers travel assistance product to MOL oil companies
Mapfre Assistance has won a tender to provide travel assistance to the clients of the MOL oil company in Hungary and bordering countries.
Typhoon Soulik causes havoc in China
Almost 300 people are missing after heavy rains and wind in mainland China.
Swiss Re confirms it is in merger talks for Admin Re
Swiss Re has confirmed it is in talks over the potential merger of its remaining Admin Re closed life business with Phoenix Group - less than a year after selling the US side of the operation.
Greenberg launches Spitzer defamation suit
Maurice “Hank” Greenberg has filed suit against former New York state governor and attorney general Eliot Spitzer, accusing the politician of a campaign of defamatory statements.
Failed Lemma could cost UK compensation scheme £25m
The UK's Financial Services Compensation Scheme is expecting to pay-out around £25m in claims related to failed Gibraltar-based insurer Lemma.
Former Hill director Quinn receives three-year ban
Former director of Hill Insurance Company, Elisabeth Quinn, has been banned from holding executive director positions with any firm licensed by Gibraltar’s Financial Services Commission for three years.
Skuld strengthens claims service with Hovelsrud appointment
Marine insurer Skuld has appointed Anders Hovelsrud as vice-president.