Insurer
RBSI “regret” findings of FSA investigation
In a statement issued in response to the news that the Financial Services Authority has fined the company £2.17m, RBS Insurance said that it was “disappointed” that it did not meet FSA standards.
Direct Line and Churchill hit with £2.17m FSA fine
The Financial Services Authority has imposed a £2.17m fine for failure by RBS owned Direct Line and Churchill to conduct their businesses with “due skill, care and diligence”.
Fraud unit makes further arrests
The insurance fraud police unit has made a further five arrests - less than a month since its launch.
Solvency II capital proposals bad for captives, says Fitch
The latest QIS5 Solvency II regulatory capital proposals could significantly increase the capital and compliance burden of the European captive market, according to a report by ratings agency Fitch.
Mapfre, Generali and CCR downgraded following sovereigns
A raft of European insurers including Italy-based Generali and Spanish insurer Mapfre were downgraded by Standard and Poor’s yesterday.
Comment: Compensation culture - myth or reality?
Is the compensations culture a myth or reality? Tom Jones offers his personal opinion on this controversial topic.
Chartis re-jig creates three world regions
Chartis is splitting itself into three major geographic areas: the Americas; Asia; plus Europe, Middle East and Africa.
Industry needs to become more “active” or face further regulation
Speaking at a meeting of the All Party Parliamentary Group on Insurance and Financial Services, Jack Straw, said that insurers have to be more active in reforming the private motor market.
Companies still battling for "highly effective" ERM
Corporate leaders still have a long way to go to create an effective, risk-aware culture in their companies, according to research sponsored by Zurich.
Anti-metal theft bill debated this Friday
The full text of the private member’s bill to toughen the law on scrap metal dealers to cut the spate of metal theft has been published and will be debated on Friday.
Go Compare and Wunelli set to develop telematics aggregator
Go Compare has confirmed that it is looking at developing a telematics comparison service with Wunelli.
Travelers launches new PI products
Travelers has launched a new professional indemnity product offering aimed at the publishing and general media sectors.
Towergate hires ex-Paymentshield director
Towergate Insurance has appointed Neil Galjaard to the role of group change director.
Oval underwriting chief joins fellow ex-employees at BLG
Independent broker Building Land Guarantees has appointed former Oval latent defects underwriting boss Jon Cox as associate director.
PPI complaints soar
The Financial Ombudsman Service latest figures show that Payment Protection Insurance complaints for the final three months of last year reached 30 301.
Hyperion boss eyes market opportunities following year of growth
Hyperion is in prime position to target acquisitions and consider a stock market flotation after announcing organic growth of 18% last year.
UK General signs capacity deal with Ansvar
UK General has signed a new distribution deal with Ansvar.
Guernsey still top European domicile with 50% captive rise
The number of insurance licenses issued in Guernsey last year rose more than 50% compared to the previous 12 months.
Minister backs telematics in fight for lower premiums
It is hoped that a combination of telematics technology and changes instigated by the Driving Standards Agency to make the theory test harder to pass will lead to lower premiums for new drivers.
More proactive risk management is needed survey finds
While global companies are intensifying their focus on enterprise-wide risk management, most corporate leaders believe their companies have a long way to go in building an effective, risk-aware culture.
Many countries still vastly underinsured against earthquake
Seismic events caused economic losses of over $276bn in 2010-2011, yet earthquake-prone countries remain underinsured, according to a Swiss Re report.
Catvest launches energy risk model
Catvest Petroleum Services, the specialist risk modelling, quantification and structuring firm for the energy and chemical sectors has launched its energy risk model and industry loss index.
Portugal, Spain and Turkey lead the way in European banassurance
Banks are most important distributors of insurance in Portugal, Spain and Turkey, according to recent research.
Fitch launches Indonesian portal
Fitch Ratings has launched a website specifically for Indonesia.