News
Latvia's Eurozone ambitions
If Latvia has its way it will become the 18th member of the Eurozone by the end of 2014. But as the country's institutions prepare to trade lats for euros, what are the implications for its insurance market?
BMS plotting 10% growth this year, following profitable 2012
Independent broker the BMS Group has today released a 2012 trading update showing revenues in excess of £63m, up 20% on 2011.
Airclaims names new MD post-McLarens merger
Mark Hunter has left his post as chief executive of Airclaims by mutual agreement amid a restructure of management roles, 18 months after the aviation management specialist merged with loss adjuster McLarens.
Kennedys backs courts efforts to block discount rate changes
Insurance law firm Kennedys has welcome the courts’ line of action against claimants who argued that the current discount rate should not apply to their cases.
French fiscal policy "likely to be unfavourable" for insurers
The French government could raid insurance coffers over the next twelve months as it looks to reduce the public deficit, Moody's has warned.
Helphire announces profit alongside refinancing
Claims management firm Helphire has reported an operating profit of £3.1m for the six months to 31 December in interim results published today.
DLG improves combined ratio to 99.2%
Direct Line Group has reported a 9.3% rise in operating profit for ongoing operations to £461.2m (2011: £421.9m) including an underwriting profit of £28.2m compared to a loss in 2011 of £72.3m and a combined operating ratio of 99.2% (2011: 101.8%).
Criterion swoops for Cunningham HNW lead
Loss adjuster Criterion has bolstered its ranks with the recruitment of Cunningham Lindsey’s private client services division founder, Sean Ball.
Rusty insured losses unlikely to be significant: AIR
Tropical cyclone Rusty will not generate significant insured losses according to catastrophe modeller AIR Worldwide.
Driving without insurance conviction sparks 131% premium increase
Motorists caught driving without insurance can expect to see their premium rise by 131%, an increase that is higher than those triggered by any other driving conviction.
Lorega selected by Gallagher Heath to fast-track property claims
Gallagher Heath has agreed to white-label Lorega’s range of loss recovery insurance products after unveiling the launch of Gallagher Heath Assist.
Australian government provides AUS$100m for flood prevention
The general insurance industry has welcomed an announcement from Prime Minister Julia Gillard, Financial Services Minister Bill Shorten and Attorney General Mark Dreyfus for AUS$100m of funding over two years for flood mitigation projects.
Six balloon crash victims from HK had policy exclusions
Six of the nine people from Hong Kong who died in the tragic hot air balloon accident in Egypt had exclusions for hot air balloon travel in their policies.
AIR Worldwide issues Cyclone Rusty update
Cyclone Rusty makes landfall but so far there has been little damage, although flooding is expected, according to catastrophe modeling firm AIR Worldwide.
South east Asia spurs Allianz profit growth
Allianz's 2012 Asia Pacific results saw an 80% profit growth and 9% increase in premiums spurred by south east Asia.
Career file: Alison Rayner
BGL establishes new compliance role having poached RSA regulatory risk boss.
CII launches easy access e-book
In a bid to provide easy access to members looking for information, the Chartered Insurance Institute has launched study texts in e-book format. The texts are compatible with the majority of portable electronic devices including Android Windows tablets,…
UK credit rating downgrade could be blessing in disguise for insurers
The loss of the UK’s AAA rating with credit rating agency Moody’s is unlikely to impact the standing of UK insurers, according to industry sources.
Rate hikes the only answer to CL market’s poor results
The dismal state of the UK commercial lines market can only be remedied by insurers inputting rate rises in 2013 and resisting their natural urge to compete on price, the heads of major firms have said.
Industry called to pay for Metal Theft Taskforce as initial fund set to expire
The government is aiming to call on the insurance industry to contribute towards funding the British Transport Police Metal Theft Taskforce.
Investing in the Profession: Three-star rating for Arthur J Gallagher
Arthur J Gallagher International has been awarded the three-star Investor in Customers award following an independent assessment that saw the firm achieve an overall rating of eight out of ten in each of the four categories for its Gallagher Heath team.
Utley set to press on with Hastings IPO despite Lloyd’s Equity settlement
The outcome of a Lloyd’s investigation into former Equity Red Star chief executive Neil Utley is unlikely to affect plans to float at Hastings where he is currently chairman, according to market observers.
My Best XI Alasdair Stewart, marketing and communications director, Axa
Alasdair Stewart, marketing and communications director at Axa, has followed recent contributors by picking a starting line-up jam-packed with insurance big hitters. However, he may have to fight off accusations of nepotism, after selecting his son in…
Claims Club: Firm leaders face battle to regain confidence of their staff
Insurance firms must tackle a decline in trust among customer-facing staff in senior management if they are to reap the rewards of consumer satisfaction.