Driver’s champion Provisional Marmalade has teamed up with Halfords, the titan of motoring accessories, to offer an innovative and fresh approach to car insurance. Costing just £3 per day, a provisional driver will be able to take out fully comprehensive insurance on a car belonging to family, or a friend. On a monthly basis the [...]
The European Commission is to undertake an in-depth examination of insurance schemes that cover natural catastrophes, particularly flooding. The Commissioner for Internal Market and Services, Michel Barnier, recently told the European Parliament in Strasbourg that the study will identify examples of best practice and fix priorities at an appropriate level. The work will involve dialogue [...]
Aviva has launched a series of online guides aimed at bringing brokers up to speed on the group’s claims process, so they can let policyholders know what to expect in the event of a claim. The series of six guides includes “The Little Book of Claims”, which explains Aviva’s overall claims service. The “Little Book” [...]
The Association of British Insurers (ABI) has issued advice regarding the proposed industrial action at British Airways (BA). Strikes are planned for the three days from 20th March, and the four days from 27th March, and the ABI reminds travellers that BA is responsible for flight arrangements and should therefore be contacted to discuss the [...]
Lonmar Global Risks yesterday launched as a new and independent broking organisation, based in London and operating on the global stage. The firm was formerly known as SBJ Global Risks and following its rebranding will offer tailored insurance and reinsurance risk solutions to clients across more than 70 countries. The firm presently handles annual premiums [...]
As Mothering Sunday approaches a little earlier this year, Defaqto has warned about the potential difficulties coping if a stay-at-home mum falls ill. Under most homemaker’s cover (part of income protection) insurers would not pay out for as long as 4 weeks. Defaqto Insight Analyst Ben Heffer has stated that many families have no plans [...]
The readers of This is Money, the Daily Mail’s personal finance website, have voted Saga Motor Insurance as the motor insurance provider with the best customer service. Five thousand of the website’s readership participated in the survey to discover which firm was considered the most trusted and equipped with the best customer service. Saga was [...]
Cadwalader, Wickersham & Taft LLP has announced the appointment of Jennifer Donohue as a partner in the Corporate Department of the London office. Donohue was formerly the head of the Insurance & Reinsurance Group at Simmons & Simmons, and brings with her a tremendous range of knowledge and expertise. Earlier in her career she worked [...]
International insurance and reinsurance group Omega Insurance Holdings has reported its annual results for 2009. The firm recorded pre-tax profits at $47.1m, a rise of 67% on 2008′s $28.2m. Net profits almost doubled year-on-year, with $43.6m being made in 2009 compared to $22.2m previously. Omega will be pleased to have bounced back from 2008, when [...]
According to new research from Aviva, the torrid weather of winter has fuelled an understandable desire to holiday abroad. However, the insurer has discovered that, worryingly, the ongoing economic difficulty and consumer belt-tightening has led 31% of would-be travellers to state they intend to skip taking out travel insurance or were considering going without it. [...]
Zurich Financial Services Group has announced the appointment of Pascal Perritaz as the new chief financial officer of the Asia-Pacific and Middle East (APME) region. He has been with the firm for the last 14 years, and has held a number of senior posts within the global corporate business in Europe. Since 2008 he has [...]
RSA’s Danish subsidiary, Codan Forsikring A/S, has acquired the renewal rights to Nordic insurer, TrygVesta’s, marine hull portfolio. The group says the £6 million cash transaction is in line with its focus on targeted growth in specialty lines, and will strengthen Codan’s position as the third-largest marine insurer in the Nordic region. TrygVesta’s portfolio represents [...]
The Association of British Insurers (ABI) has reported that its members paid out £650 million in total in dealing with claims arising from the coldest winter in the UK in thirty years. Policyholders submitted 335,000 claims for damage to their homes, businesses and vehicles, broken down as follows: Motor insurance – 268,400 claims at a [...]
Munich Re has reported that it made a net income for 2009 of €2.56bn, an improvement of two-thirds on 2008 when €1.58bn was made. However, the firm has yet to match the record €3.9bn profit made during 2007, before the full impact of the financial crisis struck. The firm has also expressed its confidence regarding [...]
International insurance and reinsurance group Brit Insurance has announced the establishment of its new office in Australia, replacing its previous third party agreement. The new office is situated in Sydney’s financial district, and will offer local representative services for the firm’s reinsurance activities. At the same time, Brit has announced the appointment of Mike Davidson [...]
Crawford & Company UK has become one of the first firms to sign the Aldermanbury Declaration. On 4 March the Declaration was issued by the Chartered Insurance Institute, its eight key principles intended to enhance standards throughout the general insurance sector by committing to a common industry framework designed to encourage professionalism. The Declaration is [...]
Critical illness sales are holding up well, despite falling mortgages sales, according to a new guide by Defaqto. The two have tended to be closely linked, but from 2007 gross mortgage lending declined from £362,632m to £143,506m, whereas total critical illness sales fell only 4.7% compared to a 19.5% fall in mortgage-related critical illness sales. [...]
Direct Travel Insurance has advised football fans heading to South Africa for the World Cup not to neglect taking out travel insurance. Travellers are advised to take out coverage as soon as possible, enabling them to have cancellation coverage in place earlier. Last year those who had to cancel or break off a holiday in [...]
Over 50s specialist, Saga, has revealed that the average annual vet bill for the UK’s cat and dog owners has risen by 53% since 2007, to £598. With costs increasing at twice the rate of inflation, the North West has emerged as the most expensive region in which face a trip to the vets. The [...]
