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Lloyd’s censures Equity over reserves
The Enforcement Board of Lloyd’s has censured motor insurer Equity and demanded it pay £95 000 costs over its under-reserving of claims, but has spared the syndicate an expected £1m fine.
Equity Red Star names Dodd for fleet
Equity Red Star has appointed Andrew Dodd as its new motor fleet class underwriter, charged with growing key accounts.
Underwriting Service Awards 2011
The second annual Underwriting Service Awards ceremony took place at the Oval cricket ground, London, with more than 250 underwriters in attendance. The winners were determined by the feedback and views of intermediaries, who place risks on behalf of…
ULR Additions to appeal Webster Dixon decision
ULR Additions has lodged an appeal in the Webster Dixon case against the judgment which will force it to pay higher fees to non-panel solicitors chosen by legal expenses policyholders.
EDB extends Nissan affinity partnership
Bosses at Equity Direct Broking are celebrating the news that an existing affinity partnership with Nissan has been extended for a further three years, following a lengthy tender process.
Admiral share price slumps as Engelhardt warns of no reserve releases in Q4
Equity analysts are maintaining a “cautious hold” recommendation on Admiral’s share price as it dropped this morning revealing large personal injury claims continued to create large costs. Admiral boss Henry Engelhardt also warned there could be no…
Market moves: Getting ready for the fourth quarter
Lloyd’s players were the most active recruiters this week as the insurance industry looks forward to the fourth quarter. A number of underwriters in the London Market made appointments, with a view to strengthening their teams. Moves among insurers…
RSA to head to High Court to defend disputed subrogation policy
RSA is going to the High Court next year in a bid to defend its policy of adding as much as 25% to bills passed on to rival insurers through subrogation.
RSA’s enhanced motor claims add 25%
Britain’s fourth biggest motor insurer RSA stands accused by a county court judge of artificially inflating repair costs charged to other insurers by more than £2.4m.
IAG remains disappointed by UK performance
“Disappointing” was the word repeatedly used by Australian giant IAG about its struggling UK business, dominated by Equity Red Star at Lloyd’s that has been ravaged by bodily injury claims.
Lloyd's pursues own probe into Equity syndicate losses
Lloyd's is investigating Equity syndicate's reserve deterioration, Post has learnt, and a Names protest group says the outcome should prove influential to its own campaign over Equity's losses.
Post Magazine – 4 August 2011
This week the Post team reports on Lloyd’s decision to begin investigating Equity syndicate’s reserve deterioration. A Names protest group says the outcome should prove influential to its own campaign over Equity’s losses.
Lloyd’s pursues own probe into Equity syndicate losses – Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including Lloyd’s decision to begin investigating Equity syndicate’s reserve deterioration. A Names protest group says the outcome should prove influential to its own…
Lloyd's Names group sets up investigation taskforce for syndicate losses
A Names group has set up an “investigation” taskforce to uncover the reason behind the huge losses of Lloyd's Equity syndicate 218 and KGM 260 in the 2008 account.
Interview - Charles Earle: Aiming high with Arista-cratic Earle
Despite falling short of his initial five-year plan, Charles Earle has still seen Arista make considerable achievements. He talks to Lynn Rouse about his philosophy surrounding underwriting control, system transparency and acquisition plans.
Equity Claims appoints WNS
Equity Claims has appointed WNS Assistance to handle its approved repair scheme for private car and light commercial vehicle accidents across the UK outside London.
Gibraltar GWP tops Lloyd's in motor insurance underwriting
Gibraltar is outperforming Lloyd’s of London in the motor insurance market, according to a report by Ernst & Young, and Admiral is leading the charge.
Gibraltar GWP tops Lloyd's in motor insurance underwriting
Gibraltar is outperforming Lloyd’s of London in the motor insurance market, according to a report by Ernst & Young, and Admiral is leading the charge.
Equity Direct Broking races to Silverstone classic car and bike deal
Silverstone Circuit has appointed Equity Direct Broking to administer its classic car and bike insurance schemes.
ABI biennial conference: Cable tackles short-termist culture
Business Secretary Vince Cable has launched a three-pronged strategy to tackle a culture of short-termism and bolster corporate governance, while ensuring the proper functioning of capital markets.
Towergate hires new group risk officer
Towergate Insurance has confirmed the appointment of Lisa Siggery as group risk officer, subject to FSA approval.
Equity Red Star cuts 27 underwriting and distribution jobs
Equity Red Star has made 27 staff redundant following an eight-week consultation period, Post has learnt.
Insurers in line for a £4.8bn windfall from referral fees - Insurance News Now – 9 June 2011
Post news editor Mairi MacDonald outlines this week's major general insurance stories including how motor insurers could pocket billions in extra income a year if a recommendation to retain referral fees is acted on.
Post history - five years ago: Broker guilty of selling illicit policies
Looking back through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this article from five years ago reveals.