The arctic weather which has held Britain in its icy grip for weeks has had a dramatic impact on motor insurance claims, with swiftcover.com reporting a 75% spike in claims this week. The insurer’s staff battled through the elements to work, walking, hiring four wheel drive cars and even sleeping at a hotel near to [...]
The Governor of New York has launched a bid to create a new international insurance exchange. According to The New York Times, plans have been outlined in Governor David A Paterson’s recent State of the State address, with 2,000 to 3,000 new jobs in prospect. The new venture would specialise in complicated risks, such as [...]
The British Insurance Brokers’ Association (BIBA) has partnered with Bluefin to provide a new members’ scheme for Directors & Officers (D&O) insurance. Bluefin is already a BIBA scheme provider, having run MotorRiSK BIBA for almost four years. The new policy, which includes a number of exclusive benefits to BIBA members, is underwritten by ACE European [...]
AXA Assistance has appointed Bob Ewers as chief executive officer of its UK and Irish operations. Mr Ewers has been working for the wider AXA group for ten years, joining AXA Assistance in 2008 where he most recently held the post of deputy chief executive officer and was primarily focused on motor business. He takes [...]
Compliance specialist TMF VAT & IPT Services is warning that changes to EU VAT rules represent a threat to European insurers that have off shored back office operations. UK firms that have relocated functions such as administration, customer contact, claims processing and accounting to lower cost counties could be facing tax increases of upwards of [...]
Prudential is to acquire UOB Life Assurance in Singapore, for £192 million. The move forms part of a long-term partnership agreement with United Overseas Bank Limited (UOB) to develop a major regional bancassurance business. Under the terms of the 12-year agreement, Prudential’s investment, savings and protection products will be marketed through UOB’s 414 bank branches [...]
The Association of British Insurers (ABI) has warned motorists not to risk leaving their cars unattended with the engine running to defrost during the freezing weather. As the UK remains in the grip of extraordinary snowfall the difficulties for motorists, particularly on minor roads, continue to grow. A number of motorists have attempted to stave [...]
Aviva Investors, which is the asset management business of Aviva plc, has agreed to acquire River Road Asset Management, a US-based equity manager with $3.6 billion in assets under management. According to the insurer, the move will combine Aviva Investors’ existing fixed income expertise in North America with River Road’s equity investment capability. Meanwhile, River [...]
Higos Insurance Services is introducing improvements to its communications strategy by developing specialist teams throughout its 14-branch network. The Somerset-based firm is aware that it may not communicate with clients between renewals, and staff will in future be emailing policyholders during the gap. Marketing manager Neil Wyatt explains: “The aim is to improve communication between [...]
Long-suffering policyholders at Equitable Life have been awarded increases of up to 5.5% in policy values. The failed mutual said it was pleased to announce that, with immediate effect, it has reintroduced interim bonuses and reversed the reduction in policy values made in March 2009 as follows:- An interim bonus of 3.5% has been awarded [...]
Crawford & Company has announced the appointment of Charles H. Ogburn as the new non-executive chairman of the Board of Directors. He replaces Thomas W. Crawford, who as well as being, until recently, chairman has also previously held the posts of chief executive officer and president. Ogburn was elected to the board in February of [...]
XL Insurance has announced the appointment of two financial institutions underwriters to its London-based professional lines team. Senior underwriters Gerard Bloom and Neale Stevenson will offer specialist professional liability coverage for financial institutions such as hedge funds, asset managers and banks. Mr Bloom moves from Zenith to head the new team, bringing to bear more [...]
AXA Insurance has announced the appointment of Tina Shortle to the post of marketing director. In her new role Shortle will formulate and enact the insurer’s marketing activities for its direct and intermediated products. She is to commence a review of AXA’s marketing activity, and will provide an update regarding overarching marketing strategy once it [...]
Young Marmalade has reported that it now has the support of 13 car manufacturers plus several finance and insurance companies, for its approach to road safety. The firm, which offers a combined car purchase and insurance scheme for young drivers, has recently received praise from Tom Gardener, general manager of Honda UK, for its work [...]
Carole Nash has secured a three-year partnership with Harley-Davidson Financial Services (HDFS). The motorcycle insurance specialist will be providing cover for 7,500 existing policyholders who will benefit from upgrades including UK and European breakdown insurance and legal protection of up to £50,000, as standard. According to Carole Nash chief executive, David Newman, the agreement will [...]
Towergate Risk Solutions (TRS) Teesside has secured a three-year partnership with Bannatyne Group, the fitness centre and hotel chain. Under the terms of the agreement, TRS Teesside will advise the group on all their insurance and risk management requirements. Commenting on the deal, Bannatyne managing director, Nigel Armstrong, says: “Following a change of personnel at [...]
Cornish Mutual, the only general insurance firm of the South West, is hosting a forum near Exeter, at Crealy Adventure Park, focusing upon protecting farms and rural issues. Cornish Mutual has offices in Exeter and Truro, and is hosting the event to enable its members to exchange experiences of the firm and its services, take [...]
The new year will see swiftcover.com’s adverts once again featuring rocker Iggy Pop as he unveils ‘Little Iggy’ in a £30m advertising blitz. Little Iggy is a puppet created by the team behind Spitting Image, and is a miniature alter-ego to the rock icon. Iggy Pop himself contributed to the campaign, developed by MWO, which [...]
Speciality insurer, Torus, has named Jackie Richardson as head of global human resources, with immediate effect. Reporting to chief operating officer, Naveen Anand, Ms Richardson will implement and lead the group’s human resources strategy worldwide. She has over 20 years’ experience in human resources in the insurance industry and joins Torus from Synovate, a global [...]
