Regulation
PCI applauds NAIC over aliens
The Property Casualty Insurers Association of America (PCI) has backed the National Association of Insurance Commissioners’ (NAIC) decision to table consideration of an approved list of alien reinsurers.
S&P criticises new accounting standards
Standard & Poor's Rating Services said in a report published today that it expects notable shortcomings in Phase I of the International Financial Reporting Standards on insurance contracts when it is published at the end of this month.
Silverstein barred from WTC trial
World Trade Centre (WTC) leaseholder Larry Silverstein has been banned from attending the remainder of the ongoing trial over the insurance of the twin towers.
Travelers shareholders give merger thumbs up
Travelers Property Casualty shareholders have given their approval for the proposed merger of the company with The St Paul.
Broker Network to float on Alternative Investment Market
Broker Network has announced its intention to float on the Alternative Investment Market (“AIM”) of the London Stock Exchange and to raise capital by means of a Placing and Offer.
Colonial creates reinsurance arm
Bermuda-based Colonial Insurance Group is to set up its own reinsurance arm.
FSA: decision on broker funding of FOS and FSCS
The Financial Services Authority has finally published its proposals on how brokers will fund the Financial Ombudsman Service and the Financial Services Compensation Scheme. To download the full document go to http://www.fsa.gov.uk/pubs/cp/cp04_04.pdf
In Parliament next week
A quick guide to the main debates and activities within Parliament next week.
Unifi attacks gender pay gap
The finance sector trade union Unifi has slammed the gender pay gap in the financial services sector...
Grappling with the practicalities
In the run up to his expected election as president of the Chartered Institute of Loss Adjusters, Andy King talks to Anthony Gould about his priorities for the year ahead
Slips and slides
Leisure: Water Parks
Broker blames FSA for IT upgrade
Broker Bartholomew & James has signed a contract to upgrade its software systems to Sirius for Broki...
Unlike Y2K, the risks of non-FSA compliance are known
I read with interest your comment on two recently published reports suggesting that the scale of cha...
Tony Markel encouraged by progress at Lloyd's
Tony Markel (right), president and chief executive of Markel Corporation, said he was encouraged by ...
MEPs in European Parliament give their backing to new proposals
MEPs in the European Parliament this week gave their backing to new proposals that will outlaw sexua...
Penny Black's insurance week
Penny could hardly contain her relief at The Chartered Insurance Institute's confirmation that it wo...
GE Global Insurance aims for SEC de-listing
GE Global Insurance Holding Corporation (GE Global), the holding corporation for GE Employers Reinsurance Corporation (ERC), has submitted filings to the Securities and Exchange Commission (SEC) to begin the process of ceasing its SEC reporting…
Insurance premium tax frozen as Brown delivers 2004 Budget
Chancellor Gordon Brown has frozen insurance premium tax in the 2004 budget, despite expectations he would make an increase to take advantage of rising rates.
Lee-Moore joins Heath Lambert
Heath Lambert has announced that Debra Lee-Moore has been appointed a divisional director of internal risk management at the company’s London office.
Peignet promoted at Scor
French reinsurer Scor has announced that Victor Peignet has been appointed managing director of its large corporate accounts division and will become a member of the group executive committee.
City still unsure of FSA
The status of the Financial Services Authority among City staff is rising but still showing scope for further improvement, according to a survey by Wide Learning, which provides e-learning used to train many City staff on FSA regulated legislations.
Heath Lambert sells Australian business to Marsh
Broker Heath Lambert has announced that it has sold Heath Lambert Australia, based in Sydney, to Marsh.
Criminal charges brought against Insurance Commissioner
Criminal charges were brought last week against Oklahoma Insurance Commissioner Carroll Fisher, and ...
Insurer warns of open sky threat
A leading London Market aviation insurer has warned of the threat to underwriters and brokers from p...