Insurance broker and risk adviser Marsh has announced the appointment of Neil Irwin to lead new client development across Europe, the Middle East and Africa (EMEA). He has worked for Marsh for the last two decades during which time he has occupied numerous client development positions including leadership of EMEA Middle Market Client Development. Irwin [...]
During the JLT workshop ‘ERM and ART: A happy marriage’ at AIRMIC today, JLT advocated more ‘joined up thinking’ across the insurance Industry. Neil Campbell who leads Jardine Lloyd Thompson Limted’s Risk Consulting Practice, says “Joined up thinking is a term often bandied around in the risk management and insurance world. Unfortunately in many aspects [...]
Crawford & Company UK has announced it is launching the successor to its Corporate Claims Solutions brand: Broadspire, a Crawford company. The AIRMIC Conference in Bournemouth was the site of Broadspire’s official launch. Clients wishing to outsources claims (such as corporate clients and brokers) had previously been catered to by Crawford’s Third Party Administration (TPA): [...]
Zurich Global Corporate has launched a new product specifically designed to combat the threat of supply chain failures that might adversely affect a firm’s financial situation. The Supply Chain Insurance proposition’s initial launch phase will focus upon companies with HQs in Europe, and offers a unique product within the European marketplace. The All Risks policy [...]
Insurers are putting pressure on the government to modify new equality laws so they continue to refuse cover to elderly clients. Currently, many insurers put upper age limits on motor and travel insurance policies, and charge people double premiums on travel insurance after they turn 66. The government’s proposed Equality Bill would put an end [...]
ACE European Group is to open a new office branch in the Turkish city of Istanbul, as part of its drive to expand across Central and Eastern Europe. ACE received the necessary licence from the Turkish Under Secretary of Treasury required for insurance and reinsurance coverage for Property & Casualty and Accident & Health. The [...]
Thousands of angry Americans have signed a petition against the tallest building in their country being renamed after British firm Willis Insurance. The 442 metre high Sears Tower in Chicago is to be rebranded Willis Tower in a renaming ceremony next month. Locals, however, have condemned the change with an online petition against the move [...]
AXA PPP Healthcare, which has its head office in Tunbridge Wells, Kent, has asked employees to choose between cuts in pay and perks and job losses. According to a BBC report, staff have received an email laying out suggestions for surviving the recession, which include a 10% reduction in pay or cutting 300 posts. Other [...]
The Chartered Insurance Institute (CII) has launched a review of policy on continuous professional development (CPD) and has surveyed over 3,500 of its General Insurance Faculty members to inform the study. According to the research, the vast majority of members say that they keep up to date with industry issues by undertaking CPD; only 3% [...]
Home insurance premiums in Ireland have sky-rocketed this year despite record unemployment and drastic price cuts across other sectors of the Irish economy. Consumer watchdogs in the country have accused insurers of “crucifying” customers with “totally outrageous” premium rises of 25%. In the overall economy, prices in Ireland have dropped by nearly 5% in the [...]
AIG has claimed that it plans to return the $4.3 billion it is seeking to recover from a former chief executive to the US government. The troubled US insurer said any money it recovers in the lawsuit against Hank Greenberg’s Starr International will be paid into the US Treasury. “AIG intends to use any monetary [...]
Beazley Group has announced that it is establishing a unit dedicated to environmental risks underwriting. The new unit will deal with a broad range of environmental underwriting and serve both current and future clients. John Beauchamp joins Beazley to lead the new unit, and brings with him over two decades of experience in the environmental [...]
UK-based Brit Insurance Holdings confirmed Friday that is in merger talks with Lloyd’s of London insurer Chaucer. Brit said any offer would be on an all-share basis. Chaucer responded with a cautious statement warning that there is “no certainty” an offer will be made. “A further announcement will be made when a conclusion to these [...]
International specialty property/casualty insurer and reinsurer Catlin Group has announced that the firm’s chief financial officer, Chris Stooke, is to part ways with the firm later on in the year. He first joined the firm six years ago, and during his time with Catlin has served on its board as an executive director. In August [...]
Independent insurance broker Heath Lambert has won the insurance tender for the London Tideway Tunnels project. The London Tideway Tunnels project is an initiative of Thames Water, and is aimed at delivering a significantly reduced quantity of untreated sewage being discharged into the Thames after rainfall. For 7km from Abbey Mills to Beckton Sewage Treatment [...]
OurNetwork has added Novae to its tradesman’s liability panel. The move is aimed at offering the group’s members a wider choice of cover, which was previously provided by MMA and Groupama alone. The addition will also increase the volume of tradesman’s liability risks that can be transacted on OurMarket, the company’s trading platform, and add [...]
The Financial Services Authority (FSA) has announced the appointment of Ken Hogg as Insurance Sector director. Mr Hogg, who is currently interim chief financial officer at MGM Assurance, will take up his new post on Monday 6 July, succeeding Sarah Wilson. He will report to the FSA’s managing director retail markets, Jon Pain, and lead [...]
KGM Motor Insurance is upping the fight against spurious insurance claims with the appointment of a fraud manager. David Wells’ role at the specialist motor insurer involves both strategic and operational aspects, developing and overseeing “rigorous fraud and financial crime management processes” across the business. Mr Wells is moving from Highway Insurance, where he has [...]
George Soros is calling for a ban on credit default swaps (CDSs), which he has previously described as “financial weapons of mass destruction”. Speaking at a meeting of the Institute of International Finance in Beijing last week, Mr Soros suggested that CDSs are encouraging debt-holders to put companies into bankruptcy. The legendary investor cited the [...]
