Property
Spencer warns tough broker action ahead
Aviva UK & Ireland general insurance chief executive Robin Spencer has warned it will have to take some “tough calls” on its broker relationships if the insurer is to reduce its commercial lines combined operating ratio to a sub-100% position in 2013.
Law report: Court of Appeal upholds loss appeal
This law report was contributed by law firm Berrymans Lace Mawer.
Improving Underwriting: A Smarter approach
Insurers can build a more sophisticated view of risk by embracing geographic intelligence data.
View from the Top: There may be trouble ahead
A catalogue of natural disasters in recent times have been pushing our industry’s bottle to the brink, says Peter Hubbard.
Improving Underwriting: Adding some colour
Larger amounts of more detailed data are available to insurers but can they create a balance between profitability and fair rates?
L&G general insurance profit falls to £30m
Legal & General's operating profit increased to £1.09bn (2011: £1.05bn) while operating profit from divisions - excluding capital and financing and investment projects - rose to £1.12bn (2011: £1.06bn).
French insurers paid an extra €9bn in taxes in the last three years
French insurers have seen a steep increase in the amount of tax they pay in the last three years and the trend looks set to continue.
Keelan Westall aims to increase e-trading brokers by a third
Keelan Westall aims to increase the number of brokers trading on its e-trading platform from the current level of 400 to 600 by the end of the year.
Willis promotes Wemyss as Pickering exits
Tony Wemyss will become broker Willis's regional CEO of the group's Central and Eastern Europe, Middle East and Africa operations from 1 April.
French fiscal policy "likely to be unfavourable" for insurers
The French government could raid insurance coffers over the next twelve months as it looks to reduce the public deficit, Moody's has warned.
DLG improves combined ratio to 99.2%
Direct Line Group has reported a 9.3% rise in operating profit for ongoing operations to £461.2m (2011: £421.9m) including an underwriting profit of £28.2m compared to a loss in 2011 of £72.3m and a combined operating ratio of 99.2% (2011: 101.8%).
Lorega selected by Gallagher Heath to fast-track property claims
Gallagher Heath has agreed to white-label Lorega’s range of loss recovery insurance products after unveiling the launch of Gallagher Heath Assist.
Rate hikes the only answer to CL market’s poor results
The dismal state of the UK commercial lines market can only be remedied by insurers inputting rate rises in 2013 and resisting their natural urge to compete on price, the heads of major firms have said.
Expertise in Action: Pricing: A Perfect Storm
The continuing economic downturn and prevalence of large losses make this a difficult period for the insurance industry – but the sector is demonstrating its resilience.
SSL Claims inks CIOB partnership deal
Northampton-based loss adjuster SSL Claims has become the first loss adjuster to become a member of the Chartered Institute of Building.
UIB recruits to bolster international property plans
United Insurance Brokers has swooped to recruit Thompson Heath & Bond’s Grant English as a London market broker.
Hiscox: UK downgrade could benefit shareholders
Hiscox chief executive Bronek Masojada has refused to panic over the loss of Moody’s AAA rating for the UK, saying the move may benefit shareholders.
Bought by Many to unveil flood insurance solution
Insurance intermediary Bought by Many told Post it will be launching a solution for home insurance in flood risk areas in the next few weeks.
AIG income falls to $3.4bn in 2012
AIG's net income fell to $3.4bn (£2.23bn), or $2.04 per diluted share, in 2012 compared with $20.6bn, or $11.01 per diluted share, the year earlier.
Industry urged to tackle root cause of fraud
The insurance industry needs to work harder at protecting consumers by addressing the root cause of fraud, according to Globaloptions international boss Bobby Gracey.
Axa picks up Ecclesiastical’s mobile catering scheme
Slade Edwards Insurance Brokers has transferred its mobile catering insurance scheme to Axa commercial lines and personal intermediary.
Online exclusive: The development predicament
What impact will proposed legal changes to property development have on the insurance industry? Mark Heighton explains.
RSA's Brown: Commercial lines needs double-digit rate strength
RSA's chief executive of UK & Western Europe Adrian Brown has claimed the UK commercial market is "broadly underpriced by 10% to 15%".
Household fraudster profile revealed
The typical household fraudster is likely to be a first claimant, claiming under £500 for accidental damage to a technological device and aged between 31 and 50, according to a report.