News
FERMA executive manager elected to association's board
Florence Bindelle, executive manager of the Federation of European Risk Management Associations), has been elected to the board of the European Society of Association Executives.
R&Q agrees PTP with Finnish mutual
Randall & Quilter Investment Holdings has agreed a portfolio transfer plan with mutual insurance company Turva.
Dam bursts on River Elbe
23 000 people have been evacuated from the east German city of Magdeburg after a dam burst as the River Elbe overflowed.
Hundreds of SMEs hit by European floods
Hundreds of small and medium sized enterprises are likely to have been affected by the floods in Central Europe, according to claims management firm Crawford & Co.
Levene calls for clarity around Co-op's failed bid for Lloyds branches
Former Lloyd's chairman Lord Levene has called on government to confirm whether it favoured the Co-operative Bank's takeover bid of 632 Lloyds Banking Group branches over one by his own vehicle, NBNK.
Budapest's flood defences hold firm
The worst of the flooding appears to be over in Budapest as the river Danube starts to recede.
R&Q agrees PTP with Finnish firm Turva
Randall & Quilter Investment Holdings has agreed a portfolio transfer plan with mutual insurance company Turva.
Acromas considering £4bn refinancing deal
AA and Saga parent company Acromas is understood to be close to securing a refinancing deal that could lead to the break-up of the group.
Consumer watchdog champions single PII scheme
A report published by the Legal Services Consumer Panel has proposed that a single professional indemnity insurance scheme and compensation scheme is launched to cover the legal services sector.
Perils releases European flood satellite pictures
Zurich-based independent catastrophe data company Perils has released satellite-based 'flood footprints' for the ongoing floods in Central Europe which are affecting mainly Germany, Austria and the Czech Republic.
XL to offer Shariah products in Malaysia and Singapore
XL Group will offer Shariah-compliant insurance to large corporate and middle market clients, including companies in Malaysia and Singapore.
China lessens insureds' claims' obligations
China's Supreme People's Court has raised the responsibility on insurers for when querying claimants.
Berkshire India to stop online sales
Berkshire India, the Indian arm of Warren Buffet's Berkshire Hathaway has failed to see its online offering spark into life.
Biba MLEI’s views are ‘completely aligned’ with the FCA’s
The British Insurance Brokers’ Association views on motor legal expenses insurance views are “completely aligned” with that of the Financial Conduct Authority, as laid out in a document published earlier today, according to Biba’s Graeme Trudgill.
Hungary braces for highest ever flood wave
Hungary’s prime minister Viktor Orbán has warned the country to brace itself for its worst ever floods.
ABI supports FCA call for greater consumer needs focus in MLEI
The Association of British Insurers has described the Financial Conduct Authority’s thematic review into motor legal expenses insurance as a “useful reminder” that more must be done to meet the needs of the consumer.
Czech flooding could cost industry €293m
Insured damage from floods in the Czech Republic could cost 7.5bn crowns (€293m), according to the country’s insurers.
MoJ unveils CMC investigation site
Potential claimants are now able to check on the track record of claims management companies following the launch of a new Ministry of Justice website.
UIB extends Elite binding capacity deal
UIB has extended its binding capacity deal with legal firm Elite Insurance Company for a further 12 months.
Marsh executive joins Bluefin
Bluefin has appointed Sarah Hewitt as head of client services in London, where she will manage the team of corporate account executives.
Brit enters political & credit risk market
Brit has entered the political & credit risk market with the appointments of Peter Jenkins and John Lentaigne as co-heads of the new division.
Brit chairman Prettejohn joins PRA board
Brit Insurance chairman and former Lloyd’s chief executive Nick Prettejohn is joining the board of the Prudential Regulation Authority following approval by the Chancellor of the Exchequer.
Thailand's premiums up 21%
Premiums in Thailand grew 21% in the first quarter of 2013 when compared to the same period in 2012.
Peak Re CEO: Japan has been a surprise
Five months since its launch, Peak Re's CEO Franz Josef Hahn says business is going to plan and the reinsurer has been particularly well received in Japan.