Insurer
Unrated insurer problems force SRA to reinvestigate stance on financial stability vetting
The Solicitors Regulation Authority is to re-investigate if it should introduce financial eligibility criteria following recent problems with unrated insurers including Quinn, Lemma and more recently Balva.
Timetric report predicts steady growth for Romanian insurers
Romania’s high road accident rate will increase personal accident insurance cover sold reaching 648 700 policies by 2017, a Timetric study has found.
SSP strengthens development team
SSP has made two appointments to its broker training and development team in a bid to offer additional technical and practical support.
Ferneyhough joins Brit as strategy director
Brit has appointed insurance analyst Joy Ferneyhough to the newly created role of director of strategy and corporate development.
Ace drops basis of contracts clause from UK policy wordings
Ace will remove the basis of contract clause from UK wordings issued under its European group stamp for new and renewed business following a wide-ranging review.
Deloitte and PwC welcome flood decision
Deloitte and PwC agree today’s agreement will benefit households at a high risk of flooding.
Biba and Kingsbridge offer PI scheme for freelancers
The British Insurance Brokers Association and Kingsbridge are offering professional indemnity cover for freelance professionals.
QBE aviation product gives extra $125m of cover
QBE has launched an aviation excess grounding liability product giving clients an additional $125m (£82m) of cover.
Jelf and Hiscox offer tailored insurance for interim managers
Jelf, Hiscox and the Interim Management Associationhave joined forces to offer interim managers access to tailored insurance packages.
Insurers back “first step” Flood Re announcement
The UK’s largest general insurers have expressed delight at the announcement of a deal on flooding cover for UK homes.
Property industry supports ‘long-awaited’ universal flood solution
The British Property Federation has welcomed the universal flood cover that the confirmation of a flood agreement between the insurance industry and government will bring.
17% of motor insurance queries online come from mobiles
17% of online motor insurance queries in May took place via mobile devices, according to figures compiled by Greenlight.
Government to extend regulatory powers over insurers and seek EC approval for Flood Re
The government is seeking new legal powers enabling it to force insurers to cover "their share" of policyholders living in high flood risk areas.
Mobile insurers tarnished by the few bad operators
Mobile insurers not acting in customers' best interests risk tarnishing the good name of the industry as a whole, according to Supercover Insurance.
Flood Re wins out as government and insurers reach long-term agreement
The government and insurance industry have reached a long-awaited agreement over the future of insurance for properties at risk of flooding when the Statement of Principles expires at the end of July.
UK General launches non-standard motor scheme
UK General has launched a non-standard motor scheme through Policy Shop, its first since announcing its partnership with Gibraltar-based Enterprise Insurance in May.
Some mobile phone insurance policies are poor and unclear says FCA
The Financial Conduct Authority has published a review into mobile insurance which found evidence or poor product design, unclear terms and inadequate claims and complaints handling.
Lonmar targeting new clients after doubling pre-tax profit
Lloyd’s broker Lonmar Global Risks boosted its pre-tax profit last year up to £3.62m from £1.68m in 2011.
Octo eyes up UK telematics opportunities
Telematics systems provider Octo Telematics has relocated its frontline operation from Italy to London in a bid to take advantage of opportunities in the burgeoning UK telematics market and to build stronger ties with both the insurance and manufacturing…
Mitsui Sumitomo sees Lloyd’s syndicate profits climb 50%
Pre-tax profits at Mitsui Sumitomo’s Lloyd’s syndicate climbed from £11.99m to £18.05m in 2012, up 50%.
Questgates strengthens liability claims handling team
Questgates has made several new appointments to its Birmingham based liability claims handling services after securing business with several insurers’ liability claims departments.
Europe: Draining energy
Europe was fast out of the blocks with its carbon emissions schemes but the financial downturn and the emergence of Asia and Latin America is threatening its future, Steve Kingshott writes.
Insurers need more social media and big data preparation, says Towers Watson
According to a global industry survey, Insurers feel less prepared to deal with threats arising from social media and big data than they do about more familiar ones.