Insurer
ABI slams 'excessive' claimant lawyer costs following meso report
The Association of British Insurers has said claimant lawyers have “difficult questions to answer” about why they do not support lower legal costs following the publication of the Justice Select committee’s report on mesothelioma claims.
Justice Committee condemns Government meso claims review
The Justice Select Committee has called on the UK Government to undertake a fresh consultation into the way mesothelioma claims are handled under the Legal Aid, Sentencing and Punishment of Offenders Act 2012.
Europe: EMEA credit insurers take claims increases in their stride
With trade credit insurance claims on the up, Post asks what is behind this trend - and should insurers be worried?
Euler Hermes net income up 4.1% for H1
Trade credit insurer Euler Hermes has recorded net income up 4.1% for the first six months of 2014.
Markerstudy recruits Sandy Dunn for group role
BDML Connect founder Sandy Dunn is to join Markerstudy as group markets development director.
ERS reports profit for first time since 2009
Insurer ERS has recorded a half year profit for the first time since 2009 improving its 2013 Q2 result by £25m.
Weather claims eat into Lloyds GI COR as income slips by £54m
Lloyds Banking Group’s general insurance business has attributed increased weather claims in the opening two months of the year to a decline in the unit’s combined operating ratio to 80% in the first half of 2014 (H1 2013: 69%).
Axa Assistance to provide motor breakdown cover for consumer site
Consumer insurance website Surewise.com has partnered with Axa Assistance to provide its motor breakdown offering.
Endurance terminates Aspen acquisition offer
Endurance Specialty Holdings has terminated its offer to acquire Aspen Insurance Holdings.
Green promoted to FCA GI director
The Financial Conduct Authority has promoted Simon Green to director of general insurance and protection.
XL's Sharp moves to Asia as food scandals rock global brands
Ben Sharp, a product recall underwriter at insurer XL, has relocated to Singapore from London as appetite for the product increases.
Independent oversight body formed in Australia
In Australia a new independent body has been created that will oversee the revised General Insurance Code of Practice.
RSA hands Motability reins to South director Gibbs
RSA has named its regions South boss Rob Gibbs as its new director for RSA Motability as part of a commercial lines reshuffle.
Government's 2015 driverless car target 'ambitious' says Thatcham
News that the UK Government has pledged £10m to help fund public road trials of driverless cars has been welcomed by the insurance industry’s motor research centre Thatcham.
Competition watchdog weighs credit hire cap U-turn
The Competition and Markets Authority is considering back-tracking on proposals to enforce a cap on the cost of replacement vehicles to non-fault motor insurance claimants.
Flood Re cap will not limit scheme's ability to pay out, claims ABI
The Association of British Insurers has criticised ratings agency Moody's for its report on the regulatory arrangements for Flood Re saying its £100m cap will have no impact on the scheme's ability to pay flood claims to insurers.
Interim Zurich UK GI CEO Dave Smith to retire in April 2015
Zurich’s interim UK general insurance chief executive Dave Smith has agreed to extend his temporary tenure at the business ahead of retiring in April next year.
Study finds 'significant demand' for telematics among older drivers
Insurers focusing telematics products solely on young drivers are overlooking a sizeable untapped older driver market, according to software provider SSP.
Legal bodies slam SRA minimum terms manoeuvre
Several members of the legal fraternity have written to the Legal Services Board urging it to reject the Solicitors Regulation Authority’s proposal to cut to the minimum limit for solicitors' professional indemnity cover to £500 000.
UK Government offers £10m for driverless car road trials
The UK Government has offered a pot of £10m to help fund public road trials of driverless cars in up to three cities from January 2015.
Money Supermarket sees 4% revenue growth for insurance site
Money Supermarket has reported a 4% increase in revenue for its insurance division in H1 2014 to £68.1m (2013: £65.5m).
Post magazine – 24/31 July 2014
The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS App Edition on the App Store or read the Post Digital Edition online.
Markel applies for trade credit license in Dubai
Specialist insurer Markel is hoping to receive a license to offer trade credit insurance in Dubai by the end of 2014.
Industry defends removal of delayed settlement clauses from Insurance Bill
Plans to allow business claimants to seek redress after delays may yet be restored