Regulation
Regulator slaps NU and HBOS for 'unfair' PPI terms
Three insurers have agreed to drop unfair contract terms from their payment protection insurance policies, after the regulator found they were detrimental to consumers. Norwich Union, St Andrews Insurance and Amtrust have been forced by the Financial…
Towry Law rebrands as TL Risk Solutions
Towry Law Insurance Brokers has changed its name to TL Risk Solutions, following its acquisition by Broker Network.
FSA report: 'The sale of payment protection insurance - results of thematic work'.
In November 2005 the FSA published a report, In this work, we came across terms in payment protection insurance (PPI) contracts that prevented consumers from receiving any refund if they repay their loan early outside the statutory cancellation period (…
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Japanese majors post strong 05-06 non-life results
Fitch Ratings has said that major Japanese non-life insurers posted strong underwriting results for ...
London market - Newline sets up UK-based company
Following the lead of many Lloyd's-based operations, Odyssey Re's Newline Underwriting Management ha...
Capital adequacy - Fitch Ratings announces new capital-model methodology
Fitch Ratings has released an enhanced methodology for incorporating a review of an insurer's in-hou...
Equitas settles with Hartford
Equitas has announced that it has reached a comprehensive settlement of policies existing between th...
Schemes challenge upheld by UK High Court
The English High Court has upheld a challenge to the voting process for solvent schemes of arrangeme...
Hiscox and Beazley publish business forecasts
Hiscox has announced that it has published on its company website a summary of its initial 2007 business forecast for Syndicate 33.
RGA unveils Triple X securisation
Reinsurance Group of America has announced that its subsidiary Timberlake Financial has completed an offering of $850m of 30-year notes.
"Nightmare" Act spells trouble for small firms
The Federation of Small Businesses has called the new Work and Families Act "impractical", urging th...
Authority's effectiveness to be tested
The government has announced a wholesale audit on how effective the Financial Services Authority has...
Broker to double its size in national push
Yorkshire-based broker The Insurance Partnership is looking to double its staff in order to fulfil i...
Biba offers funding alternative
The British Insurance Brokers' Association has responded to the current compensation scheme funding ...
Directive leaves much to be desired for all
There is no doubt that Financial Services Authority regulation of general insurance is, on the whole...
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Legal Expenses
FSA bosses outdo staff in rises
Inflation-busting pay rises have been enjoyed by directors at the Financial Services Authority as it...
Cadbury recall could result in a price hike
The high-profile saga of Cadbury recalling more than one million of its chocolate bars could lead to...
Judgement shows a difference in law
North of the Border - Claims Spotlight
Appointment at Cigna Healthcare
Cigna Healthcare has made James Parker managing director of its UK business. Mr Parker joined the co...
S&P announces positive outlook on Munich Re ratings
Standard & Poor's Ratings Services has revised its outlook on Munich Reinsurance and its core operating entities to positive from stable. In addition, the 'A+' counterparty credit and insurer financial strength ratings on Munich Re and related core…
AWAC hires Morgan for ceded reinsurance
Bermudian (re)insurer Allied World Assurance Company (AWAC) has announced that Susan Morgan has joined as its senior vice president, ceded Reinsurance. In her new position, Ms Morgan will analyze AWAC's global book of business and purchase reinsurance…