News
IFB investigation leads to jail time for fraudsters
The insurance industry has demonstrated a “zero tolerance” stance towards fraud produces results, after two fraudsters responsible for handling “thousands” of fictitious or inflated personal injury and credit hire claims were sentenced to jail.
Success of Esure float boils down to accurate pricing in current market
Esure could err on the side of caution when it comes to pricing its stock as it aims to follow Direct Line Group onto the London Stock Exchange, analysts have suggested. The personal lines insurer confirmed plans to float as it revealed its 2011 result.
High-profile departures at Cunningham Lindsey raise questions of wider trend
A recent wave of departures from loss adjuster Cunningham Lindsey may represent senior management seeking to “cash out” following the arrival of a new parent in CVC Capital Partners last October.
Judical review rejection paves the way for Jackson reforms
The High Court’s rejection of a judicial review into the road traffic accident personal injury fees scheme has cleared the road for the implementation of the remaining civil justice reforms, unless an appeal is lodged.
Scottish sheriff courts to handle PI cases worth up to £150 000
Scottish defendant lawyers have backed proposals to introduce a specialist court to handle personal injury cases in Scotland.
Analysts cast doubt on Co-op’s ability to sell off general insurance business
The Co-operative Bank may struggle to offload its general insurance business as part of a bid to make up a capital shortfall that is expected to result from a market-wide investigation of banks by the Financial Services Authority.
News review: British insurance staff could lose jobs
Staff at mortgage payment protection insurance provider British Insurance has been put on redundancy notice by the firm's parent company Towergate Insurance.
Digital Insurance Strategies: Mobile strategy vital as smartphone use increases
Google finance industry head Jo Hind has insisted that firms’ social media strategies must be handled at board level to ensure they becomes part of the corporate culture.
Digital Insurance Strategies: Online insurance fails to take off for SMEs as customers are ‘not quite ready’
Take-up of online insurance remains stunted among small and medium-sized enterprises, according to a panel of speakers at Post’s Digital Insurance Strategies conference.
Digital Insurance Strategies: Digital strategies are a must, not an option
Insurer boards should consider “what they are going to do” in terms of developing their digital strategies, rather than “whether they should do it”.
Digital Insurance Strategies: Bennetts reaps the benefits after setting up its own social media site
Insurance firms must embrace social media sites such as Facebook and Twitter as a means of “getting in front of” and engaging with customers – but they are no match for setting up a social media site of one’s own.
Market Moves: Ex-pro footballer among notable new recruits in busy week across industry
The past week produced an even recruitment spread across the industry, with the usual flurry of hires within the broking sector headed by two regional appointments at Bluefin. These were complemented by additions at firms representing the loss adjusting,…
Groupama SA upgraded by Fitch
Fitch Ratings has upgraded Groupama SA and its core subsidiaries' insurer financial strength ratings to 'BBB-' from 'BB+'.
Lloyd's coverholder steps into Netherlands flood void
Lloyd’s coverholder Neerlandse has begun offering flood insurance to homeowners in the Netherlands.
Cooper Gay poaches JLT professional risks specialist
Independent broker Cooper Gay has appointed Graham Dick as a director of its professional risks division.
Dual International deputy CEO takes UK helm in leadership reshuffle
Hyperion’s underwriting arm Dual has moved to restructure its leadership, creating a new role of UK chief executive for international deputy CEO Shane Doyle.
Cooper Gay targeting UK, Europe and offshore financial institutions with JLT hire
Insurance and reinsurance broker Cooper Gay has swooped to recruit JLT's Graham Dick.
Allianz revives retail apprenticeship scheme for third year
Allianz has re-opened its school leaver programme for the third consecutive year.
Lloyd's sports syndicate recruits Munich Re underwriter
Sports and leisure insurer Sportscover has recruited Munich Re’s David Boyle to serve as its new class underwriter for contingency at Lloyd’s syndicate 3334.
Admiral patient on international profits
Admiral Group management has said it could be up to 10 years before its newest international insurance businesses declare a profit.
JLT could sell geopolitical cover in ME and Africa
JLT chief executive Dominic Burke said the broker plans further geographical expansion, after its 2012 profits were boosted by strong performance in emerging markets.
JLT posts 7% revenue increase in 2012
British broker JLT posted revenues of £880.1m (€1,018.7m) for the full year 2012.
L&G to re-enter motor insurance market
Legal & General is considering re-entering the UK motor insurance market in 2013 following moves to diversify its portfolio beyond its core household lines.
Kennedys hires Clyde & Co energy and construction partner
Kennedys has grown its international energy team with the hire of Graeme Baird from Clyde & Co.