Regulation
FSA whistle-blowing moves backed
Insurers and brokers have backed industry initiatives encouraging companies to report intermediaries...
Insurers face £1bn in construction fines
More than £1bn of fines could be levied on insurers for failing to comply with rules on National Ins...
Penny Black's insurance week
When it comes to celebrating birthdays, specialist media and arts insurance broker La Playa has come...
Appointment at Winchester White
Specialist financial services management consultancy Winchester White has made Kevin Duffy principal...
RIMS releases compensation statement
The Risk and Insurance Management Society (RIMS) has released a statement by President Nancy Chambers, CRM, regarding industry compensation and placement practices.
New Chairman for IUA Committee
The International Underwriting Association (IUA) has appointed a new Chairman for its Marine Technical Committee.
Groupama in commingling move
Groupama has said that it "is comfortable to follow " the Financial Services Authority's approach to commingling of insurer and client monies.
Converium announces external reserve review date
Following the appointment of a leading firm of consulting actuaries to conduct an external actuarial study of the Company's reserves held in respect of the Zurich and New York businesses Converium has announced that the results will be unveiled on…
Motor federation moves to settle RSA/bodyshop dispute
The Retail Motor Industry Federation (RMI) has offered to set up a meeting between anti labour-only scheme campaigners from the bodyshop sector, and a major insurer.
Warning over Appointed Representatives status
Insurers and brokers should not accept appointed representatives without conducting full due diligence, law firm Reynolds Porter Chamberlain has warned.
The FSA announces introduction of 'hard capital adequacy test'
The Financial Services Authority has announced it will introduce a "hard capital adequacy test" in 2...
Ex-PwC director frustrated by US legislation
Legal Report
Appointment at XL Capital
Susan Cross has joined XL Capital as chief actuarial officer, non-life reinsurance, for its reinsura...
The threat to voluntary work
Legal Report
BBC programme could spark premiums rise
Nursery insurance premiums could be set to rise, according to industry experts, following the BBC's ...
Order, order
Legal Report
McIntosh succeeds Beveridge at JHC
Peter McIntosh, hull underwriter for Wellington Syndicate 2020 at Lloyd's, has been elected chairman of the Joint Hull Committee in London. He succeeds William Beveridge, who has recently resigned the post. Mr Beveridge will remain an active member of…
Plexus Law achieves management standard
Plexus Law, and its sister practice Badhams Law, have both been awarded Lexcel, the Law Society’s practice management standard.
Second annual increase for Sovereign’s creditors
Sovereign Marine and General Insurance Company has announced a second successive annual percentage payment increase, from 35% to 40%, to all creditors.
FSA issues "hard" capital adequacy statement in wake of RSA comments
The Financial Services Authority has today published a statement following comments made by Royal & Sun Alliance in its interim results published yesterday morning, confirming it will introduce what it calls a hard capital adequacy test.
A M Best raises Lloyd's rating
A.M. Best has upgraded the financial strength rating of Lloyd's to A (Excellent) from A- (Excellent). At the same time, A.M. Best has assigned an issuer credit rating of "a" to Lloyd's. The outlook is stable.
RSA: liabilities - the latest position
Royal & Sun Alliance provided an update on its business transformation plan — and its outstanding liabilities — as part of its interim results. The group claimed it had made significant progress this year in restructuring operations through disposal,…
Taming blame claims
Financial Misselling
Pets be having you
Pet Insurance