Insurer
North of the Border: The end of shopping?
Two cases were struck out of the English courts – the judge ruling they should be raised in Scotland.
Conventional cyber policies giving patchy cover, IUA finds
Coverage of cyber risks in conventional classes of insurance can be variable, meaning cover is not provided for cyber losses in situations where it might be expected, according to a report from the International Underwriting Association.
New CEO and board members for marine cargo insurer NMU
Lloyd’s marine insurer NMU has made a number of changes to its executive board, including a new CEO.
Malaysian imprisoned in Singapore after cash for crash fraud
Tew Yee Jeng, from Malaysia, has been sentenced to 44 months in a Singapore jail after being involved in a cash for crash scam.
Rate reductions mooted as industry calls on government to follow NI lead on GDL
Pressure is building from the insurance industry on government to introduce graduated driver licensing across the rest of the UK, following the roll out of new laws for young drivers in Northern Ireland.
Big data risk increasing as tech disruptors impact industry
Determining appropriate social media use by insurers is one of the challenges outlined in a report into industry disruptors launched today (15 January) by the Chartered Insurance Institute.
Government unwilling to mandate AEB systems in new cars
Thatcham CEO Peter Shaw claims the government is not prepared to legislate for mandatory autonomous emergency braking systems in new cars, despite broadly supporting the research centre in its call for AEB technology to be fitted as standard.
David Bowie: The insurance industry reflects on the music legend
With the sad passing of music icon David Bowie this week, Post asked a number of insurance industry music fans for their own personal reflection on what the Brixton-born legend meant to them.
Ace completes Chubb deal predicting $650m savings by 2018
Ace has completed its acquisition of Chubb, adopting the Chubb name and commencing trading today (15 January) on the New York Stock Exchange under the symbol CB.
Accelerate seals three year capacity deal with sports specialist JRW
Specialist managing general agent Accelerate Underwriting has agreed a three year deal with Manchester-based sports player JRW Group.
Quiz of the week – 15 January
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Blog: Solvency II to fuel further consolidation in 2016
During the last 12 months, insurers have responded to the prevalent commercial, economic and regulatory pressures by stepping up mergers and acquisitions activity, cutting costs and rationalising non-core activities.
Storm Desmond cost insurers £759m, says Perils
Perils, which provides consolidated catastrophe insurance data, has estimated the insured cost of Storm Desmond for properties affected by flooding and wind at £759m.
Strong premium growth expected across Asia, says Swiss Re
Swiss Re is predicting robust growth across Asia for general insurance over 2016 and 2017 despite economic headwinds.
Gravity of cyber risk stressed as climate change tops risk list
Failure to act on climate change was named the top global risk by the World Economic Forum today (14 January), as a Marsh leader claimed cyber risk is widely underestimated outside the US.
Allianz backs Thatcham stance on fitting AEB as standard
Allianz has backed calls by the motor insures’ research facility Thatcham for automated emergency braking technology to be fitted as standard to all new cars sold in the UK.
Motor premiums see largest hike in five years
Motorists were hit with the highest quarterly rate rise in five years for comprehensive car insurance in Q4 which saw prices rise by 7% to an average of £672, according to the latest Confused car insurance price index.
Pressure building on Hong Kong's CORs, says Swiss Re
Clarence Wong, chief economist Asia at Swiss Re, believes the soft market conditions in Hong Kong are "unsustainable".
End of marine market cycles, suggests Munich Re's Berg
Dieter Berg, executive general manager at Munich Re, believes the traditional marine market cycle might be over as premiums decline in a prolonged soft market.
NIG puts 71 roles at risk in offshoring move
Commercial insurer NIG is shrinking staff numbers at its Bristol and Manchester underwriting centres as part of an offshoring move, Post can reveal.
Flood Re completes exec team with hires from Pro Sight and Pen
Flood Re has completed its executive team with the appointment Harriet Boughton as its general counsel and Karen Clautour as head of operations.
Night-time curfews for young drivers to be introduced in Northern Ireland
A comprehensive package of new measures to improve road safety has been passed by the Northern Ireland Assembly that includes night restrictions on young drivers carrying passengers.
AIG strategy failing to win support among majority of investors
Only a small minority of shareholders back AIG’s present strategy amid pressure from activists such as Carl Icahn for a change to the insurer’s approach, according to a poll by investment management firm Bernstein.