News
Helphire ABS licence within reach as application reaches final stage
Helphire's alternative business structure has reached the "final stage" according to chairman Avril Palmer-Baunack
Brokers selling add-ons contacted by FCA as regulator begins crackdown
Signs the Financial Conduct Authority’s scrutiny of insurance add-ons is underway have been witnessed by brokers that have already been contacted by the regulator.
$6bn of property damaged in Moore tornado: AIR
The devastating tornado which struck the Oklahoma suburb of Moore on Monday has damaged property to a total replacement value of $6bn within a two mile radius of the storm’s path.
Brokers told to improve record-keeping to reduce professional indemnity claims
Brokers have been urged to improve the way they document advice to clients in light of increasing numbers of professional indemnity claims against them.
AGM vote represents ‘significant protest’ against RSA directors’ pay
Meeting also sees major shareholders voice disappointment over dividend cut.
Ten Insurance gains chartered status and unveils new NED
Independent commercial brokering network Ten Insurance has been awarded chartered status by the Chartered Insurance Institute.
AIG tackles cyber risk via the ipad
AIG has launched an ipad CyberEdge product to help companies navigate through the challenges of cyber crime and data breaches.
Call for life insurance for Bangladesh factory workers
The Bangladesh Insurance Association wants to make it compulsory for factory owners in the garment industry to ensure their workers are covered for life insurance.
Impact Forecasting improves catastrophe modeling tools
Impact Forecasting, the catastrophe model developer at Aon Benfield, has launched a set of tools to help quantify uncertainties in catastrophe models across all natural disasters and countries.
AIG to invest $92.5m in PICC
AIG, a major shareholder of PICC, has announced the $92.5m (HK$718.1m) investment after PICC's Property & Casualty announced its intention to raise money through a rights issue.
Scots disproportionately affected by new flood plan
The Scottish Parliament has been challenged to secure a greater voice in the UK flood debate following concerns the Association of British Insurers' Flood Re model represents a raw deal for residents north of the border.
Aon Benfield launches cat model to quantify uncertainties
Reinsurance broker Aon Benfield has unveiled updated catastrophe tools to allow clients to better understand their exposures in spite of less complete information.
IRDA report paves way for banks to become brokers
A report on broking regulations by India’s Insurance Regulatory and Development Association has said banks will be allowed to become brokers, but that those wishing to do so may have to have a segregated broking arm.
Six foreign insurers granted China motor licenses
Six foreign insurers have been given licenses to operate in China’s compulsory motor market, twelve months after the market was first opened up to foreign insurers.
ABI welcomes government strategy to promote the UK insurance industry
The Association of British Insurers has welcomed Greg Clark’s, Financial Secretary to the Treasury, announcement of a dedicated insurance industry strategy to enhance the industry’s position as leader in global business.
Hastings weighing minority stake sale
Hastings Insurance Group is plotting the sale of a stake in the business, with management retaining "a significant shareholding".
Marks & Spencer and Post Office to discuss affinity insurance at Post event
Marks & Spencer and The Post Office have joined the speaker roll for the upcoming Affinity 2013 event.
Solvency II still needed says S&P
The proposed Solvency II regulatory framework is still needed, despite the frustration caused by delays in implementation, according to Standard and Poor’s.
Top 5 European stories
The top five stories from www.insuranceinsight.com over the past seven days.
Swinton Commercial eyes growth with the creation of new role
Swinton Commercial has appointed Alastair Denness to the newly created role of national business development manager. The firm said this role is part of the company’s future growth strategy.
Beazley swoops for Hiscox's tech & data head
Lloyd’s insurer Beazley has hired Matthew Norris to join its European small business team.
Mass calls on legal industry to fight legal changes
The Motor Accident Solicitors Society has called on solicitors to keep fighting further change and report any problems in the new legal system.
Ex-BGL director joins Towergate
Towergate Insurance has appointed Derek Henry as group carrier relationship director.
PICC plans 5.8bn yuan rights offer to boost capital
Chinese insurer PICC Property & Casualty has signaled its intention to raise 5.8bn yuan ($944m) in a rights offer in China and Hong Kong.