Travellers have been urged to check with their insurer regarding coverage for cancellation or delay due to the unprecedented ash cloud that has made British airspace a no-fly zone. Defaqto, which has offered the advice, also advocates those with an ATOL protected packaged trip to check with their tour operator or travel agent to explore [...]
Aviva has unveiled new technology to help it more accurately predict the risk of flooding for homes and businesses. Aviva, Britain’s largest insurer, said the map will enable it to more accurately assess the risks of each individual customer. The technology, developed in partnership with JBA Consulting, uses digital technology to simulate which areas are [...]
The Association of British Insurers (ABI) has issued the following advice to those whose travel plans have been disrupted due to the volcanic ash dust cloud: Volcanic eruptions are not always covered by travel insurance for cancellation and delay. However, some policies will cover this, so you should contact your travel insurance company to check [...]
Pitney Bowes Business Insight (PBBI) has launched a new product aimed at making rates and claims decisions faster and more accurate. Risk Data Suite combines geospatial datasets and historical information on a variety of perils including flooding, subsidence, crime and arson. It has the ability to analyse this data via PBBI’s MapInfo Professional location intelligence [...]
President of the Insurance Information Institute Dr Robert P. Hartwig has warned that despite the recession the global desire for energy remains undimmed, and rising demand for decades to come must be addressed by insurers and power generators. Dr. Hartwig made his assessment in Prague, at an AEGIS London-hosted energy conference. With the rapidly rising [...]
CETA Insurance has announced that it has joined Mortgage Brain’s Affinity Club, opening up a range of new revenue-generating possibilities via its extensive suite of commercial and personal lines insurance. Broker clients of Mortgage Brain will also benefit from access to competitive insurance coverage, including household and ASU policies. David Quick, MD of CETA, has [...]
Capita Insurance Services’ pet insurance arm Thornside has announced the appointment of Mark Outing to the post of key account relationship manager. In his new position Outing will be tasked with fostering good relationships with key clients and managing them on a daily basis. His initial duties will be to familiarise himself with Thornside’s existing [...]
The British Insurance Brokers’ Association (BIBA) has issued advice for travellers affected by the disruption caused across the UK’s airports by a cloud of ash from a volcanic eruption in Iceland. The Association has confirmed that BIBA Protect travel insurance policies, underwritten by Tokio Marine Europe Insurance Limited and purchased from a BIBA broker, will [...]
InterResolve has secured a major funding deal with venture capitalist, Balderton Capital. The injury claims specialist says it will use the cash injection to expand its service, which involves the acquisition, processing and settling of personal injury claims directly between claimants and insurance companies. Where claims are straightforward and likely to be admitted, InterResolve takes [...]
SAS has launched SAS Risk Management for Insurance, which it describes as “a comprehensive solution for risk analysis and risk-based capital calculation”. The data management and reporting platform, which includes an insurance-specific data model, can help both life and property & casualty firms implement the Solvency II standard model for calculating risk-based capital. Its business [...]
The House of Lords’ European Union Committee has published a new report entitled “Combating Somali Piracy: the EU’s Naval Operation Atalanta”. Atalanta is a military operation aimed at deterring and preventing acts of piracy and armed robbery off the coast of Somalia and most importantly, in the Gulf of Aden, which the study describes as [...]
The Association of British Insurers (ABI) has revealed the extent to which trade credit insurance helped UK businesses in 2009. During the year, insurers dealt with 22,791 claims, with the total amount paid out rising from £164 million in 2008, to £320 million. According to the ABI, the 95% year-on-year increase reflects the ongoing effects [...]
Prudential has appointed Rob Devey, chief executive of Prudential UK and Europe, to lead the integration of Prudential Corporation Asia and AIA Group. Mr Devey will head the project team responsible for the merger, bringing with him the experience of integrating the Retail Banking Operations of Halifax and Bank of Scotland, in a previous post. [...]
Global risk and reinsurance specialist Guy Carpenter & Company, LLC has announced the appointment of Chris McKeown as chief executive officer and president of the firm’s North America Broking Operations. In assuming his new position McKeown takes on responsibility for Guy Carpenter’s treaty business in both the United States and Canada. Elsewhere in the firm, [...]
Elite Insurance has launched a number of products that will support its expansion into new markets. The legal expenses and financial insurance provider is offering a decennial insurance policy in the French market; as the name suggests, the construction liability cover runs for ten years. In addition, the firm is offering accident and sickness & [...]
Capita Group has acquired Huntingdon-based specialist motor insurer, Sureterm Direct. The purchase will enhance Capita’s offering and bring an estimated 75,000 policyholders to the group’s insurance intermediary and administration unit, Capita Insurance Distribution (CID). Sureterm, which employs around 140 staff, already operates in markets that complement CID’s Lancaster and Hero brands, and the acquisition will [...]
New research from Accenture suggests that the rapid pace of online adoption among UK insurance customers will not abate. The management consultancy’s recent survey indicates that 63% of Britons have purchased motor insurance online; 45% home insurance; and 23% life assurance. Over the next 12 months, 69% of respondents said they will be switching or [...]
Brokers utilising Open GI’s quotations engines can now benefit from a new Full-Cycle EDI Household product. The product, from Prestige, is the first from the underwriting agency on Open GI and is named Sure and Simple. Open GI’s system now includes over 1,000 products, with more than 600 Full Cycle EDI products, 175 of which [...]
Moneyextra.com’s head of Insurance, Peter Gerrard, has commented upon the launch of new pay-as-you-go Insure the Box. Gerrard has described the launch as an interesting one, as motorists tend to be wary of black box technology monitoring their driving habits. Areas of concern for consumers include speed limits, particularly whether or not they would be [...]
Devastating winter floods struck Cumbria in the winter, an event to which Crawford & Company was amongst the first to react. Since then, the firm has worked hard to maintain contact through a combination of targeted communications and visits to the area. Crawford & Company organised a trio of flood surgeries in co-operation with the [...]
