Property
XL Insurance dedicates resources to Nordic region
Global insurer XL Insurance is expanding its business into the Nordic region where it is establishing a dedicated upper middle market operation.
Water damage creating costly commercial claims
Approximately 50% of claims made on commercial buildings and contents insurance are for damage cause by escape of water, property insurance specialist Cadogan Keelan Westall has found.
Lloyd’s pips AIG in surplus lines
The surplus lines industry suffered an unprecedented fourth year of declining premiums in 2010 and Lloyd’s knocked AIG off the top spot, according to AM Best.
Plum helps brokers with unusual risks
Non-standard household insurance specialist Plum Underwriting has launched a series of workshops to teach brokers how to benefit from the growing demand for non-standard household risks.
Market moves: All change at the trade bodies
With insurer moves slower than last week, this week has seen a number of changes among the trade bodies, with the Chartered Institute of Loss Adjusters, the |British Insurance Brokers’ Association and Federation of European Risk Management Associations…
American broker blames barriers to entry for lack of interest in London
Reinsurance broker Tiger Risk Partners UK has claimed to be the first US-owned broker to set up a London office since 2003, blaming the lack of interest on the UK’s “significant barriers to entry”.
WNS targets top three spot as delayed property repair business launches
WNS Assistance has launched into the property repair space, eight months after it vowed to become a top three player in the sector.
Broadgate acquisition is last for Torus
The recent acquisition of Broadgate Underwriting by Torus finalises a string of hires and acquisitions by the globetrotting insurer.
Law report: Time-bar ruling overturned as liability was not established
This law report has been contributed by national law firm Berrymans Lace Mawer.
Keelan Westall expands broker club
Keelan Westall claims to have expanded its Prestige Broker Club for brokers - generating £150 000 of premium – up by almost 20% since the spring.
Axa calls on residents to insure expensive gadgets
Research conducted by Axa has revealed that the average UK home now contains £5 218 worth of gadgets, leading company bosses to call on homeowners to insure their valuables.
Market moves: Bucking the trend for UK employment
With September in full swing, announcements of moves around the market are arriving thick and fast. After the dearth of recruitment news in August, disciplines across the industry spectrum appear busy luring expertise from competitors, promoting from…
Claims rise as landlords cut maintenance budgets
The proportion of claims made for avoidable incidents such as leaks, burst pipes, frost damage and general wear and tear has increased by 5% since 2008 as tight budgets hit property maintenance by landlords.
Mooted HSBC GI sale a sign of the times
HSBC’s mooted plan to sell its general insurance arm is part of a growing trend of banks “retrenching”, according to an analyst.
Concerns sparked over quality of insurer supply chains
Leading insurers have raised “serious concerns” over the industry’s ability to handle water perils claims, with restoration companies shouldering a large proportion of the blame.
Insurers vow to pay squatting claims if informed of extended absence
Insurers have vowed to pay claims to policyholders whose properties are invaded by squatters — as long as they inform them if their home will be empty for long periods of time.
Vienna Insurance breaks into Bosnia Herzegovina market
The Vienna Insurance Group has broken into the Bosnia Herzegovina market by acquiring a majority stake in the insurer Jahorina Osiguranje AD Pale, subject to regulatory approval.
Property lines remain volatile across Europe
Property lines remain substantially more volatile than other major lines across Europe, according to new research.
Jubilee Europe to offer protection to Dutch mortgage holders
Jubilee Europe is offering protection for Dutch mortgage holders, by entering into a partnership with Reliance Mutual Insurance Society.
FM global updates policies ahead of renewal
Commercial property insurer FM global has launched an improvement to its the FM global advantage policy, which will be available to clients at renewal.
Your say: Sports stars car coverage
The recent ‘The Olympic challenge' feature in Post emphasised the raft of opportunities for the insurance industry when it comes to the various possible disruption triggers, such as the weather.
Water claims firm alerts insurers to cowboy drainage contractor threat
Water claims firm Property Consortium Drainage has warned cowboy drainage firms could cost insurers dear when responsibility for drains switches from homeowners to water companies.
Brokers witness unprecedented surge in riot-related demands for cover
Property insurance enquiries from businesses have soared by up to 200% in parts of London and Manchester following the riots, according to brokers based in some of the UK’s worst hit communities.
Interview - Jon Hancock: Getting under the skin
As UK commercial managing director for RSA, Jon Hancock is on a mission to find out what brokers really think of the insurer