QuestGates has announced a range of personnel changes, in accordance with its drive to promote growth. Environmental Division chief Alan Dobson has been appointed a director on the main board, with associate directorships going to former Motor Division managers Gary Woodhall and Steve Thompson. Kathie Hinsley leaves behind RBS Insurance to join the Liability Division [...]
Beazley Group plc has announced that Martin Bride has been appointed as the firm’s new group finance director. He leaves behind Zurich Financial Services, where he worked as chief financial officer of the UK Life business. Bride brings with him extensive experience of the insurance industry, having also held the post of chief financial officer [...]
Prudential has announced that it is reducing final bonus rates on its with-profits policies by between 5% and 10% The insurer says it is responding to the downturn in world markets and the continued poor investment environment. However, Pru’s with-profits funds have been holding up relatively well during the credit crisis and some policyholders will [...]
Colemont Global Group has expanded its operations within Brazil with the opening of a new office in Sao Paulo. Felipe Leão de Moura takes up the reins as executive VP of the office and will take up a seat on the board of Colemont Brasil. De Moura joins Colemont to assume his new role, bringing [...]
Aon Global Risk Consulting has warned that businesses are neglecting to instill risk management into daily operations because of uncertainty over the risks and ownership of the process. To address this issue, the firm has developed a new management tool, e-GAP, which has been designed to encourage organisations to pay real attention to risk management, [...]
The Chubb Group of Insurance Companies has given Solomon Agency Corp. a personal insurance agency appointment to help enhance service provision for the Korean-American community in New York’s metropolitan area. Over 2 million Koreans were living in the US five years ago (according to South Korean statistics), with US figures showing that Koreans average a [...]
The Competition Commission is proposing a ban on the sale of Payment Protection Insurance (PPI) within 14 days of the sale of an associated loan or credit card facility. The Commission has been investigating the sale of the insurance amid claims by consumer groups and others that it is often expensive and has been habitually [...]
The Chartered Insurance Institute (CII) is alerting the insurance industry to the plight of ex-offenders who are trying to reintegrate into society. UNLOCK, the charity that works to achieve equality for ex-offenders, has published a paper that suggests the insurance sector is failing reformed criminals who want to attain basic financial security. Spokesman, Chris Bath, [...]
Aon Consulting has announced that Sue Cann has been appointed as the firm’s new local market leader for all services. She is a longstanding member of the organisation, having worked for Aon Consulting for 17 years, and was formerly with the Business Development team. In her new role Cann will have responsibility for ensuring that [...]
Health insurance provider, BCWA, has concluded that the insurance industry is failing to provide people with clear information about the benefits of private medical insurance (PMI). Recent research by the firm found that 83% of people surveyed could see themselves using savings (44%) or borrowing money (39%) to pay for one-off private medical treatment, rather [...]
Vehicle data management company, Wunelli, is launching Coverbox, a new pay-as-you-drive car insurance, early next year. Using technology supplied by vehicle security firm, Cobra, policyholders will have their driving habits monitored and their premium will be based on distance covered and the time of day or night when their vehicle is in use. Account is [...]
The Government has set up two new industry groups to look at the UK insurance and investment sectors. The bodies come under the co-chairmanship of Chancellor of the Exchequer Alistair Darling, who will be joined by Andrew Moss, chief executive of Aviva, as co-chair of the insurance group. Representatives of Legal & General, Standard Life, [...]
Norwich Union (NU) has announced that it will be compensating some of its pension customers by around £300 each. The insurer has discovered an error in its scale of administrative charges which means that some people who bought the company’s stakeholder pensions have been overpaying. Stakeholder pensions were introduced in April 2001 under legislation that [...]
Arista, the commercial lines underwriter, has declared that it is to establish a regional presence in the Midlands. The announcement comes after the firm’s Southern and Northern regional offices were successfully developed, and Arista is already making preparations for new staff and engaging with a number of independent brokers based in the region. This latest [...]
Stricken insurance company, American International Group (AIG), has called on the US Government for further help. Last month the group warned that its $120 billion loan from the US Federal Reserve may not be enough to stabilise AIG’s finances as it undertakes a radical restructure and programme or disposals. The company secured an $85 billion [...]
The Global Insurance Centre of Ernst & Young has urged the insurance industry and regulators to seize upon the global financial crisis as an opportunity for the evolution of industry regulations. Although it is true that liquidity concerns in the insurance sector are generally far fewer than in banking, the financial crisis has dramatically undermined [...]
Marsh’s International Specialist Broker, Bowring Marsh, has created a quintet of personalised risk transfer products which offer protection against Property, Casualty and Terrorism risks. Each of the five new products are united by the utilisation of syndicated placements, which means that the risk is spread across a larger number of carriers. The products are: North [...]
As the consequences of the credit crunch and deepening economic difficulties mount, insurer Ecclesiastical has designed a new wedding insurance policy aimed at ensuring that the most important day of all is not ruined by financial concerns. The policy is flexible, enabling couples to shape it to their particular needs. Premiums begin at just £30, [...]
