News
Latvian watchdog suspends all Balva licences
Latvia‘s Financial and Capital Market Commission has temporarily suspended all licenses issued to AAS Balva.
Career File - Mark Winlow: Ageas and Groupama non-executive director Winlow takes up NED role at RFIB
RFIB Holdings has appointed Mark Winlow as non-executive director.
Market Moves: Insurers take the week’s spoils as Ace leads recruitment surge
This week, insurers were on top, with Ace, Covéa and Liberty Mutual among the firms to have tied up deals to bring in new faces.
Chubb appoints Marcello to European CSI role
Chubb has appointed Julie Marcello to the role of European Specialty Insurance manager.
Swinton confirms Patrick Smith’s retirement
Swinton has confirmed Patrick Smith has retired and will no longer serve the company, Post’s sister publication Insurance Age has revealed.
FCA warns of ‘clone’ insurance broker
The Financial Conduct Authority has issued a warning over an unauthorised firm trading under a similar name as the established and FCA-regulated insurance mortgages intermediary, KBP Insurance Service.
AIA rolls out 50 000 ipads
Life insurer AIA to complete roll out of 50 000 ipads across 16 countries to salespeople.
United India wants to expand agriculture insurance to Maharashtra
United India Insurance wants to sell agriculture and weather products in Western India.
Hong Kong Consumer Council slams insurance regulator levy
Controversy over the funding of the new insurance regulator in Hong Kong.
South Korean refiners struggling to insure Iranian oil
South Korea is the latest country to struggle to find insurance for oil imports from Iran after tough EU and US sanctions.
Loss assessor Thompson & Bryan bought from administration
Troubled loss assessor Thompson & Bryan has been rescued from administration by former Harris Balcome partner Paul Lawrence, who has purchased the intellectual property and work in progress.
Zurich study highlights shift in risk attitudes among SMEs
Small and medium sized businesses in the UK are being forced to significantly adapt their attitude and approach to risk, resulting in a clear division between “winners and losers”.
Aegis reinforces non-marine property team with triple hire
Aegis London has strengthened its non-marine property team by recruiting a trio of underwriters.
Law Society: whiplash inquiry is not fair
The Law Society has said the Transport Select Committee’s whiplash inquiry is hearing only the insurers’ side of the argument on whiplash.
Gallagher criticises SRA over Balva
Gallagher London has described the ban on Latvian insurer Balva underwriting new business in the UK as "another embarrassment for the Solicitors Regulation Authority" due to the insurer's inclusion on the body's approved list of qualifying professional…
Insurance Europe lobbies US over foreign reinsurer tax
Trade body Insurance Europe has written the US Congress regarding proposals to disallow a tax reduction for some foreign affiliated reinsurance premiums.
Consolidation in Polish market likely
Further consolidation in Central and Eastern Europe’s largest insurance market is likely as Poland’s “big five” look to increase their market share, according to analysts.
Supply Chain Council launches model and first risk report
The Supply Chain Risk Leadership Council has published its first emerging risks report, designed to help organisations identify the risks that may have a major impact on their business.
Lloyds TSB tops FCA insurance complaint figures
Payment protection insurance complaints are continuing to rise in the latest data from the Financial Conduct Authority, with Lloyds TSB subject to the most insurance complaints in the second half of last year.
SRA reassures firms using Balva Insurance
The Solicitors Regulation Authority has reassured firms using Balva Insurance for its professional indemnity following a regulatory ban on the firm to underwrite policies in the UK.
Gallagher Heath secures place on Government Procurement Service
Gallagher Heath has secured a place on the Insurance Services Framework following a competitive tender process, led by the Government Procurement Service.
Axa names Agrical as lead farming and agricultural adjuster
Axa has appointed specialist loss adjuster Agrical as its lead chartered adjuster for farming and agricultural claims.
Telematics helps The Co-Op recover 92% of stolen vehicles
Telematics devices have facilitated the speedy recovery of stolen vehicles, according to Wunelli.
Mutuals “in prime position” with reinsurers says Willis Re
Mutual insurers can capitalise on the changing buying habits in reinsurance markets according to Willis.