Bermuda-based Omega Insurance Holdings has appointed David Coles as head of investor relations. Mr Coles, who has over 14 years’ experience in the international reinsurance industry, joins from Atlas Partners, an independent advisory firm which he co-founded. Prior to this, he worked at Amlin as head of corporate development and also held posts in the [...]
FM Global has secured a licence to conduct business in Switzerland. The commercial property insurer has also opened a new branch in Lugano, saying the expansion is driven by growth of its Swiss business and the need for more operational flexibility in the region, although it will continue as a co-insurer with its existing Swiss [...]
The cold weather has seen emergency home assistance calls to ARAG Legal Services rise by 25% compared to the corresponding period in 2008. The legal insurance specialist reported that the majority of calls related to burst pipes and broken boilers. Sales Manager Andy Talbot has described the winter weather as the worst for three decades, [...]
Activity in the UK financial services sector increased slightly over the past three months, but the Confederation of British Industry (CBI) warns that growth was below expectation, and firms expect volumes of business to fall in the coming quarter. Asked how their business volumes fared in the final quarter of 2009, 32% said that volumes [...]
Torus has announced the appointment of Bob Allen as US Head of Healthcare. Mr Allen has 20 years’ healthcare liability experience and is an active member of the American Society of Healthcare Risk Management, and the Professional Liability Underwriting Society. He moves from the role of vice president healthcare with Allied World Assurance (US), where [...]
Thompson Heath & Bond Limited, the Lloyd’s broking arm of THB, has expanded its International Treaty platform with the appointed of three brokers who will specialise in the Latin American, Caribbean, Middle Eastern and Asia/Pacific territories Manuel Yañez, Andrew Brignell and Alexander Price have worked together previously (most recently at RFIB Group) focusing primarily on [...]
Interest in skiing holidays may rise due to the prolonged wintery conditions, particularly as some French ski operators are cutting prices. Direct Travel Insurance has reported that the Association of Mountain Doctors in France (Médecins de Montagne Résultats Nationaux 2008/2009) dealt with 140,000 injuries last year incurred on such holidays. Amongst these were 16,439 collisions [...]
Bupa Individual Protection has enhanced its individual income protection proposition by adding an extra 130 occupation definitions, enabling professionals suchs as dentists, surgeons and college lecturers to protect their income based upon their specific profession. Product development head Steve Casey explained that customers would feel more comfortable having their own profession covered, and gives them [...]
The prolonged cold spell affecting the UK has seen Kwik Fit Insurance experience a surge in calls of 57% from motorists whose vehicles have broken down due to the severe weather. Record numbers have called the firm to report being unable to start their cars, or having suffered accidents due to the treacherous driving conditions. [...]
Aviva has conducted research revealing that around a quarter of young drivers are completely lacking any parental instruction and are thus entirely reliant on paid driving instructors for their lessons. In addition, one in three young drivers had less than ten hours of practice with their family prior to their driving test. Young drivers are [...]
A new insurance company has been granted a licence to operate in the Qatar Financial Centre. SEIB Insurance and Reinsurance Company LLC is a joint venture between HE Sheikh Jabor Bin Yosef Bin Jassim Al-Thani and Chedid Capital Holding. The latter is a regional investment company established in 1998 and specialising in the insurance and [...]
The Scottish Widows Business Protection Report has discovered that around 2.6m sole traders in the UK are leaving themselves vulnerable to the loss of one or two instrumental people. Small firms contribute about half of the country’s turnover, but many are failing to protect the key person/owner involved. More than four in five have one [...]
The chief executive of the International Underwriting Association is predicting that two of the London Market’s biggest challenges for 2010 – modernisation and Solvency II – will be closely linked and interdependent. Dave Matcham explains that up to 40% of Solvency II implementation costs are related to technology, modelling software, data warehousing and consideration of [...]
Aviva has today announced that its Group Risk products are being substantially improved, adding Lump Sum and Pay Direct options to its Group Income Protection and enhanced Free Cover Limits on its Group Life policies. By enhancing its products in this way Aviva has acted to increase the flexibility and choice available from its Group [...]
International general insurance and reinsurance group Brit Insurance has announced the appointment of Peter Grocock as head of the firm’s office in Bristol. Grocock, who assumes his new position today, brings with him over a quarter of a century of experience in the commercial insurance sector. He leaves behind the post of corporate client director, [...]
LitComp plc, a provider of After the Event Insurance (ATE) and medico-legal reports, is being acquired by Torridon Capital Limited, a newly incorporated Scottish company established solely for the purpose of buying the firm. Torridon Capital is indirectly controlled by two of LitComp’s major shareholders, Nigel Wray and Maven Capital Partners. Following completion of the [...]
UIB has replaced JLT as sole and exclusive insurance broker for the renewal of insurances to Moroccan flag carrier, Royal Air Maroc. The appointment gives the group a significant share of the North African airline market, with Air Algerie already an established client. Royal Air Maroc has a fleet of 71 aircraft valued at $1.5 [...]
Global independent wholesale, reinsurance and specialist retail insurance broker Cooper Gay has announced the appointment of Sam Hovey as chief financial officer of its UK subsidiary Cooper Gay & Co. Ltd. In April 2008 Hovey joined Cooper Gay (Holdings) Ltd. as group financial controller, before which she spent time in finance positions with HSBC Insurance [...]
Marsh has come up with a check list for organisations struggling with the UK’s freezing winter conditions. The broker and risk adviser has outlined a number of actions aimed at protecting staff, the public and assets, while at the same time maintaining services. Some key areas covered by the firm are as follows: It is [...]
The Association of British Insurers (ABI) has commented on a legal judgment relating to the Damages (Asbestos Related Conditions) (Scotland) Act 2009. The Act includes pleural plaques as a condition for which compensation is payable in Scotland, but insurers have argued that the plaques, which are areas of fibrosis present on the inner surface of [...]
