Regulation
FSA rejects external ombudsman appeals procedure
The Financial Services Authority and the Financial Ombudsman Service have rejected the idea of an external appeals procedure. The announcement was made with the published updated procedures for handling complaints to the ombudsman service today.
Tucker made CEO as Prudential axe falls on Bloomer
Prudential has replaced chief executive Jonathan Bloomer, appointing HBOS finance chief Mark Tucker in his place.
Plexus Law wins Crawford subsidence contract
Crawford & Company UK has selected Plexus Law to provide specialist subsidence recovery services in a two year sole supply contract.
Scor returns to profit
Troubled French reinsurer Scor has announced that it made a return to profit in 2004 following several years of losses.
Fitch upgrades SCOR
Fitch Ratings has upgraded SCOR group of companies to Insurer Financial Strength (IFS) 'BBB' from 'BB+'. The rating outlook remains stable.
CII sees jump in revision courses
The Chartered Insurance Institute has reported a 300% increase in demand for its revision courses at...
The ladder to success
Training Auxiliary Staff
Product recall sector is "ripe"
Product recall is an underdeveloped insurance market ripe for expansion in the near future, experts ...
Insurance Premium Tax frozen
Budget News
Appointment at International Underwriting Association
News in brief
FSA warned against 'overkill'
The Financial Services Authority has been warned not to get caught up in "the hysteria" that has fol...
Government accused over London failure
London Market News
Brokers resist new markets
Insurance brokers are holding back from entering new markets but, after much hype, more are now look...
Directors confused by scattered compliance
The necessity for legislative and regulatory compliance is uppermost in the minds of all IT director...
FSA may consult on GI reserves
The Actuarial Profession has indicated that all general insurers may be required by law to have thei...
Events
6 April Insurance Institute of London lunchtime lecture - Aviation. Lloyd's Old Library, London. E-...
Chancellor makes amendment
Budget News
AIG fires executives over Spitzer investigation
AIG has dismissed two executives who refused to co-operate with the ongoing Eliot Spitzer investigation into alleged malpractices.
Catlin UK to launch on 1 May
The Financial Services Authority has authorised the formation of Catlin Insurance Company (UK).Catlin UK is a wholly owned subsidiary of Catlin Insurance Company of Bermuda.
FSA publishes MAD directive
The Financial Services Authority has published the final rules and guidance for implementing the Market Abuse Directive (MAD). The directive, a key element of the EU Financial Services Action Plan, introduces a common EU approach for preventing and…
US Congress looks at FAIR Act again
The US Congress is once again looking at legislation that would create a national trust fund to compensate victims of asbestos-related disease.
Bupa reports record profits of over £180m
Healthcare company Bupa has reported a pre-tax surplus of £182.2m for the year to 31 December 2004.
Aviation industry had good 2004 claims Aon
The global aviation industry saw the lowest level of losses in its history in 2004 although concerns in the insurance industry over the severity of claims are growing, according to Aon’s 2004 Airline Insurance Market Review.
Matcham takes IUA role after Rossi departure
The International Underwriting Association has appointed Dave Matcham as its new Chief Executive. Previously Director of Operations at the association, he succeeds Marie-Louise Rossi.