News
Zurich confirms dividend and re-elects Maechler
The Ordinary General Meeting of Zurich Insurance Group yesterday approved an unchanged dividend of CHF 17.00 per registered share, resulting in a payout ratio of net income of 70%.
Broker complaint handling under spotlight
The European Insurance and Occupational Pensions Authority has today launched a public consultation on guidelines regarding complaints-handling by insurance intermediaries.
Eiopa unveils complaints handling guidelines for brokers
The European Insurance and Occupational Pensions Authority today launched a public consultation on guidelines regarding complaints-handling by insurance intermediaries.
Trio of apprentices taken on by One Answer Network
One Answer Network will take on three extra apprentices as part of a campaign designed to inspire the next generation of insurance brokers.
New Act to bring 'peace of mind' for consumers
The Consumer Insurance Act will give “added peace of mind” to customers who will “not be declined if they unknowingly fail to disclose information to their insurer” when buying insurance products, according to the Association of British Insurers.
Broker warns of motor insurance fraudsters manipulating MID records
Specialist motor broker DNA Insurance Services has warned that fraudsters are avoiding paying the appropriate premium for their risk by buying motor trade road risks policies to ensure their vehicles appear on the Motor Insurance Database.
Ackermann re-elected as Zurich chairman
Zurich’s board of directors has moved to re-elect Josef Ackermann as its chairman, alongside vice-chairman Tom De Swaan.
Brokerbility adds Miles Smith to ranks
A newly formed retail division of Miles Smith has become the latest broking business to join Brokerbility, taking its membership to 35.
Building collapse in India kills over 60
74 people died and over 60 have been injured following the collapse of an unfinished building in Thane, a suburb of Mumbai.
Vietnam bans poultry from China
First import ban as bird flu fears escalate as 14 people have been infected with six deaths in China.
Extended winter caused billions of dollars of damage in March
France, Germany, the Ukraine and Japan were worst hit by claims in March as snow and cold weather continued throughout the month, according to Impact Forecasting's latest research.
India's banking secretary confirms 20bn rupee energy fund
India’s Banking Secretary Rajiv Takru has confirmed that the country will establish a 20bn rupee (€283m) insurance fund to cover refiners buying crude from Iran.
Floods devastate Argentina's capital
Flash flooding in Argentina has claimed more than 50 lives and halted production at the country’s largest oil refinery.
Deakin faced with "irresistible" offer from Gallagher
Arthur J Gallagher International's relationship-building abilities in the UK insurance market are set to be given a boost by the appointment of Aviva's intermediary & partnerships director Janice Deakin to the new role of UK commercial director.
Claims boss disputes international focus as prime driver for legal panel consideration
The relationship between individual legal advisors and insurer claims teams is more important than selecting one of the ‘big four’ firms for a panel spot on the basis of their global reach alone.
APC launches broking team for Europe, UK and international risks
Commercial insurance underwriting agency, APC, has launched a London market broking team to place risks for regional brokers that cannot be facilitated under its regular binding authorities.
Ace unveils life sciences cover for European businesses
Ace Group will offer global life science cover for companies in continental Europe as part of its strategy to further build its casualty business in the region.
Janice Deakin joins Arthur J Gallagher
Arthur J Gallagher International has appointed Janice Deakin to the new role of UK commercial director.
APC sets up London market team
Underwriting agency APC has launched a London market broking team to place risks that cannot be facilitated under its regular binding authorities with regional brokers.
PWC names Bichard London market leader
PWC has followed January’s appointment of Jonathan Howe as UK insurance leader by naming a new London market boss.
Increased shareholder scrutiny puts spotlight on insurance CEO pay
Insurers are more cautious and keen to be transparent over executive remuneration after last year’s ‘shareholder spring’, according to analysts, with recommendations for boss’s pay packets swelling in the past 12 months.
‘Worrying trend’ for over-regulation making UK market less competitive
Rising regulatory costs are becoming a financial burden the UK’s insurance market can ill afford in the face of international competition, Lloyd’s finance director Luke Savage has warned.
Law firms urged to go global to secure place on London market insurer panels
Law firms must improve their international focus if they are to earn a position on London market insurers’ panels, as claims bosses plan reviews of their legal partners.
Facebook backer provides Hyperion ‘vital stepping stone’ towards IPO
An initial public offering is firmly back on the agenda at Hyperion after it struck a deal that sees public company investment specialist General Atlantic take a 30% stake in the international intermediary.