United Kingdom (UK)
Watchstone sets £50.1m aside for S&G lawsuit
Watchstone has set aside £50.1m in preparation for a High Court claim issued against it by Slater and Gordon.
This week: Technology, treasury and trade credit
I'm not sure who was more excited about technology in our house this week, my son discovered that virtual pets in the form of Tamagotchi are making a comeback in the UK this year while I learnt a bar has opened where robots make you cocktails.
One Call ‘regrets’ mishandling of client money
One Call said it has rectified the client money errors that led to more than £1m in fines from the Financial Conduct Authority.
Aspen takes $245m underwriting loss in Q4
Aspen expects to post a $245m underwriting loss in the fourth quarter of 2017.
One Call slapped with huge fines by FCA
One Call and its CEO John Radford have been slapped with fines totalling more than £1m by the Financial Conduct Authority.
Aioi Nissay Dowa relocates to Leadenhall Street
Aioi Nissay Dowa Insurance Company of Europe is to relocate to offices in Leadenhall Street this week.
Justice Committee chair earns £15,000 a year from personal injury law practice
Exclusive: The chair of the Justice Select Committee earns £15,000 a year from a law practice with a significant personal injury insurance practice.
Rising Star: Ben Mear, Claims Consortium Group
Mear began his career as a claims handler. He has worked his way up to team leader
Cyber MGA Ascent Underwriting acquired by Preservation Capital Partners
Preservation Capital Partners has acquired cyber and specialty lines managing general agent Ascent Underwriting.
Composite Legal Expenses acquires business and assets of General Protection Limited
Composite Legal Expenses has acquired the business and assets of York-based firm General Protection Limited.
Das develops Alexa skill to provide assistance with legal issues
Legal expenses insurer Das Group has launched an Alexa 'skill' for the Amazon Echo Amazon’s virtual personal assistant.
Clyde & Co pilots online personal injury arbitration platform
Clyde & Co is piloting an online arbitration system for personal injury claims.
LV's Martin Milliner on delivering the insurance promise
Some insurers waited until their policyholders' frustration made the headlines to give some comfort after the Liverpool car park fire, regrets Martin Milliner, director of claims at LV, urging the profession to deliver on its promises in order to build…
Carillion collapse to cost industry £31m
Trade credit insurers expect to pay £31m to help businesses recover following the collapse of construction giant Carillion, according to figures from the Association of British Insurers.
RSA appoints new commercial bosses after Robinson and Gearey leave
RSA has appointed two new commercial bosses following the departure of Hayley Robinson and James Gearey.
GPI launches legal claim to recover £1m from Lloyd’s broker
Exclusive: An insurer has launched a legal petition to wind-up a Lloyd’s broker, over an unpaid claim of almost £1m.
Analysis: Soft reinsurance renewals dash hard market hopes
After five consecutive years of falling rates, global property-catastrophe reinsurance experienced upward pricing pressure at 1 January renewals.
Kennedys secures authoritative court guidance on 'fundamental dishonesty'
Kennedys has secured the first authoritative court guidance on the meaning ‘fundamental dishonesty’ in personal injury claims.
Admiral refutes 'racist pricing' allegations
Admiral has refuted claims that it operates a 'racist' pricing structure.
Hastings to use automated fraud detection service
Hastings Direct has selected BAE Systems’ Net Reveal solution in order to detect and investigate claims and policy fraud.
Quindell auditor slapped with £700,000 fine
The company responsible for auditing Quindell has been fined £700,000 for failing to “exercise sufficient professional scepticism”.
Ten insurtech start-ups to watch in 2018 - part two
Today we feature a second quartet of businesses with their eye on the disruption prize, all of which will be worth watching out for as the year progresses.
Treasury MP promises engagement with brokers over regulation
Nicky Morgan, the chair of the Treasury Select Committee, said she looks forward to engaging with brokers over the “important issue” of lost productivity and regulation.
AIG to buy Validus for $5.56bn
AIG has unveiled plans to acquire Validus Holdings for $5.56bn.