Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 21st of January 2018
November 24, 2009

MMC shows interest in HSBC Insurance Brokers

by Gill Montia

Story link: MMC shows interest in HSBC Insurance Brokers

Global insurance broker Marsh & McLennan is interested in acquiring HSBC Insurance Brokers, the Daily Telegraph has reported. According to the newspaper, talks are at an advanced stage over a deal that could be worth up to £200 million. HSBC Insurance Brokers claims to be one of the largest international insurance broking, risk management and […]



November 23, 2009

Aon bolsters aviation team

by Richard Kilner

Story link: Aon bolsters aviation team

Insurance broker Aon has bolstered its aviation team with six new appointments, based in London. The new staff will cater to airlines and aerospace companies around the world, utilising their negotiating acumen and experience to enhance the firm’s offering. John Westoby joins from Marsh, where he led the aviation and aerospace practice for over a […]



ABI offers flooding advice

by Richard Kilner

Story link: ABI offers flooding advice

Following the recent unprecedented levels of rainfall in Cumbria and the ensuing flooding, the Association of British Insurers (ABI) has issued guidance to those who have been affected. The ABI advises that household and business insurers cover flood damage and should be contacted as quickly as possible. Many insurers operate a round-the-clock helpline, which can […]



Helphire and Hastings Insurance form partnership

by Richard Kilner

Story link: Helphire and Hastings Insurance form partnership

Accident management firm Helphire has entered into a commercial partnership with Hastings Insurance Services. Under the terms of the deal motor insurance customers will be offered replacement vehicle services should they suffer a non-fault accident. Helphire Group Managing Director Martin Ward has expressed his pleasure at the agreement between the firm and Hastings Insurance, following […]



Execution strengthens Lloyd’s reinsurance unit

by Gill Montia

Story link: Execution strengthens Lloyd’s reinsurance unit

Execution Ltd has strengthened the capability of its Lloyd’s reinsurance broker with the appointment of Tony Pointing to Execution Insurance Products. Mr Pointing previously founded Anthony Pointing Limited, a broking firm that he subsequently sold to Jardine Thompson Graham, thereafter going on to hold senior positions at Aon and Guy Carpenter. Commenting on the appointment, […]



1 Answer broker network signs up L&G

by Gill Montia

Story link: 1 Answer broker network signs up L&G

1 Answer Network has signed up Legal & General to provide buildings and home contents insurance cover to its broker members. The firm is already expanding its relationships with KGM, RSA and LV= broking arm, ABC, and says it is well on target to achieve its 2009 goal of £100 million GWP. According to managing […]



Listed property-owners warned against underinsurance

by Richard Kilner

Story link: Listed property-owners warned against underinsurance

Cornish Mutual has warned owners of listed and period properties in the south west that they may unwittingly be underinsured. The firm, which has offices in Exeter and Truro, is anxious that sizeable repair bills could be suffered by homeowners whose properties suffer damage this winter due to lack of adequate insurance. There are over […]



ABI estimates flood damage at £100m

by Gill Montia

Story link: ABI estimates flood damage at £100m

Recent flooding in Cumbria and southern Scotland could produce claims of over £100 million, the Association of British Insurers (ABI) has warned. According to reports, insurers have already received between 500 and 1,000 claims and flood warnings remain in place across many regions, with Cumbria still in danger of severe flooding and the rising waters […]



November 21, 2009

Philip Morris ordered to pay ex-smoker $300m

by Gill Montia

Story link: Philip Morris ordered to pay ex-smoker $300m

A Florida court has ordered cigarette manufacturer, Philip Morris, to pay $300 million to an ex-smoker. The damages have been won by Cindy Naugle, who suffers from smoking-related emphysema, and is now wheelchair bound. Philip Morris has indicated that it intends to mount an appeal; the group’s spokesman told the BBC that the punitive damages […]



November 20, 2009

Businesses lack necessary insurance

by Richard Kilner

Story link: Businesses lack necessary insurance

The directors of Cowens Survival Capability, a business solutions provider, have asserted that many businesses within the United Kingdom are lacking the proper insurance, a fact they only discover when they attempt to make a claim. The directors have warned that many businesses are failing unnecessarily, simply due to a lack of proper risk assessment […]



Young Marmalade calls for more car scrapping

by Richard Kilner

Story link: Young Marmalade calls for more car scrapping

The Labour Finance and Industry Group’s chairman, Dr Peter Slowe, has lent his support to Young Marmalade’s efforts to persuade more young drivers to scrap their old bangers. Young Marmalade, a specialist insurer for young motorists, has stated its belief that one of the biggest reasons behind one in three deaths and injuries on the […]



Islamic insurer Salaam Halal in run off

by Gill Montia

Story link: Islamic insurer Salaam Halal in run off

The UK’s first Islamic insurance company has closed to new business. The enterprise was launched by Principle Insurance Company, trading as Salaam Halal, in July of 2008 with a motor insurance offering aimed at the 1.6 million Muslims living in Britain. One year later it branched out into business and home insurance. The firm’s policies […]



Delayed flight passengers now eligible for compensation

by Gill Montia

Story link: Delayed flight passengers now eligible for compensation

Air travellers whose flights arrive at their destinations three hours late or more are now eligible for compensation. Yesterday, the European Court of Justice ruled that the damage sustained by air passengers in cases of long delay is comparable with that of cancellation. The Court said: “There is no justification for treating passengers whose flight […]



November 19, 2009

BGL launches replacement car/van service

by Richard Kilner

Story link: BGL launches replacement car/van service

BGL Group has announced it is launching a new service catering to customers of its in-house brands (such as BUDGET, ibuyeco, Quotemart and Dial Direct). From now on customers buying an annual motor insurance policy will also have the option of purchasing Guaranteed Replacement Car/Van service. The optional extra has been introduced to assist those […]



Marsh bolsters Aberdeen oil and gas team

by Richard Kilner

Story link: Marsh bolsters Aberdeen oil and gas team

Insurance broker and risk adviser Marsh has announced the appointment of Amy Barnes to its Aberdeen office as a development executive. She has been part of Marsh’s Energy team for the last eight years, specialising in providing super-major and independent oil and gas companies with risk financing. Barnes will focus upon fostering business in the […]



Young Marmalade win safety award

by Richard Kilner

Story link: Young Marmalade win safety award

Specialist young driver insurer Young Marmalade has won the Prince Michael International Road Safety Award at the Road Safety GB Conference. Over the last 22 years the award has been given to those who are deemed to have improved the UK’s road safety, and is usually given to non-profit organisations or public services, making Young […]



November 18, 2009

XL Insurance bolsters Inland Marine capability

by Richard Kilner

Story link: XL Insurance bolsters Inland Marine capability

XL Insurance has announced the appointment of Frank Oleskiewicz as VP and senior underwriter of Inland Marine at its New York-based Marine & Offshore Energy (MOE) unit. He joins XL Insurance from Catlin Insurance where he launched the inland marine product line as director of Inland Marine. Earlier in his career he spent more than […]



Young Marmalade appoints Merrygold as ambassador

by Richard Kilner

Story link: Young Marmalade appoints Merrygold as ambassador

Young Marmalade, the specialist insurer for young people, has selected Aston Merrygold of JLS as an ambassador for the firm. Merrygold is an X Factor runner up, and comes from Peterborough, where Young Marmalade is based. Due to the high insurance premiums, some 300,000 young drivers simply forego insurance, and those who do have it […]



THB to launch Cardinus Risk Management brand

by Gill Montia

Story link: THB to launch Cardinus Risk Management brand

THB is undertaking a restructure aimed at developing a new brand for the UK and US risk management markets. The specialist broker is launching Cardinus Risk Management which is being formed from the merger of THB Risk Management – Property Risk Management, and Cardinus, its health and safety consultancy. The new business will be led […]



XL Insurance acquires Unicorn underwriting team

by Richard Kilner

Story link: XL Insurance acquires Unicorn underwriting team

XL Insurance has announced it is bolstering its equine capabilities following the acquisition of an underwriting and claims team from Unicorn Underwriting Limited. The five-strong team is led by Guy Morrison, who brings over two decades of international equine insurance experience to the post of Equine chief underwriting officer. Morrison will head up XL Insurance’s […]