Insurer
IFB and Ifed bosses refuse to fuel industry calls for merger
A merger of the Insurance Fraud Bureau and the Insurance Fraud Enforcement Department would create greater efficiency and allow the IFB to widen its scope.
Surveillance firms lose insurer business as ICO investigates use of private eyes
Firms found complicit in illegal data gathering will face criminal prosecution.
Axa places €350m of cat bonds for European windstorm risk
Axa Global has placed €350m (£295) of catastrophe bonds to institutional investors through Calypso Capital II providing the insurer with protection against European windstorm risk.
Brokers warn insurers not to rush into private security firm cover
Concerns raised over claims frequency of problem doormen supervisor sector.
Post Magazine – 17 October 2013
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.
Risk managers and loss adjusters urge business interruption shake-up
Insurers told to do more to protect increasingly global supply chain.
ABI backs young driver curfews despite resistance from members
Telematics provider labels plans a ‘draconian, backwards step.
Editor's comment: Your country needs you
Cuthbert Heath, one of the most innovative and influential Lloyd’s brokers, developed what we would now recognise as business interruption insurance, with the first modern policy issued in London on 1 January 1939, according to LMI Group.
Fraud firm sees increase in credit repair rates referrals
Fraud management company TCF has reported a 300% increase in referrals to its credit repair rates validation service from quarter one to quarter two of this year.
Comprehensive premiums plummet as motor insurers make Laspo 'gamble'
The average price of a comprehensive motor policy has fallen by 13.9% over the course of the year, according to the latest Confused Car Insurance Pricing Index in association with Towers Watson.
Artemis records $6.24bn of cat bonds in 2013
Artemis has recorded $6.24bn (£3.91bn) of new catastrophe bond issuance and insurance-linked securities issuance so far in 2013.
AIG raises contaminated product limits to $35m
American International Group has launched a web-based service to help companies estimate the cost of recall incidents, and expanded its available accidental contamination coverage limits to $35m.
Generali unveils EMEA and Latin America units
Generali is to simplify its global structure by creating two new business regions, Europe, Middle East and Africa, and Latin America.
Law firm slams FCA naming policy
A lawyer from international firm CMS has slammed the Financial Conduct Authority’s decision to name firms under investigation saying the move is “calculated to gain publicity”.
Rules targeting non-UK tax residency to impact minority of Lloyd's members
New Lloyd’s rules on tax residency are likely to affect less than 10% of members, according to sources.
EU insurers benefitting from economic stability increasing focus on risk
European insurers are benefitting from a more stable economic environment, although they continue to adjust product offerings and adapt reinsurance purchasing in response to the low-yield environment as they increase their focus on risk management,…
MAST security training courses receive government approval
The Department for Transport's Maritime & Coastguard Agency has approved three new training courses from security specialist Maritime Asset Security and Training.
Career development: Insurance industry urged to sign up for ‘e-mentoring' schemes
A UK charity is asking insurers and brokers to ‘e-mentor' young people as part of a scheme to link them to the world of work.
Career file: Peter Staddon - Staddon appointed MD of the MGAA
Peter Staddon has been appointed the first managing director of the Managing General Agents' Association.
Market Moves: Zurich departures and Tripp’s return top what has been a busy week for the market
It was a busy week for insurers seeking to bolster their numbers, with HSB, Avanti and Sterling among the firms to bring in new faces. Zurich, however, may have made the most significant announcement in the form of the departures of two of its broker…
Website review: Endsleigh travel insurance site slow to land
Web performance specialist Gomez looks at Endsleigh’s travel website.
FCA to name firms under investigation in warning notices
The Financial Conduct Authority today confirmed it will name firms and, in some circumstances, individuals under investigation.
Sign up to the free-to-attend Commercial Underwriters Forum today
Taking place on Thursday 24 October 2013, the Commercial Underwriters Forum is free- to-attend* for all those working at insurers, managing general agencies and brokers.
Road Traffic Act: Two-way traffic
Many motor insurers are in limbo because of uncertainty over the interpretation of a crucial section of the Road Traffic Act. However, a forthcoming Supreme Court judgment could provide much-needed clarity.