Heath Lambert has been appointed as the insurance advisor for Transport Scotland’s borders railway project. The £235 million to £295 million scheme will provide a link between Newcraighall station in Edinburgh and Tweedbank, which lies 49 km away in the Scottish borders. It will re-establish passenger railway services for the first time since 1969 and [...]
Thornside has announced that it is now providing pet insurance to Sainsbury’s customers through the retailer’s quote and buy website and over the phone. The news follows a recent partnership with AXA, which has appointed Thornside to provide and administer Sainsbury’s pet insurance offering. AXA managing director, Gary Stott, comments: “We look forward to significantly [...]
Liberty Syndicates has secured a deal with Intelsat, the world’s largest provider of fixed-satellite services. Under the agreement, Intelsat will provide technical support to Liberty’s satellite insurance account and allow the Syndicate access to its engineering services. Intelsat has a fleet of 55 satellites which are used by providers of media, telecom and government services [...]
Commercial insurer, Torus UK, has entered the London financial lines market with the formation of underwriting agency, Torus Executive Risks Limited (TER). TER will underwrite on behalf of Torus Insurance (UK) providing policy limits up to £10 million per risk in the following product lines: Directors and Officers Liability; Bankers Blanket Bond; Professional Indemnity; Pension [...]
MMA has signed up to the SIRA system (Syndicated Intelligence for Risk Avoidance) joining a number of other insurers in the fight against insurance fraud. Using SIRA, the broker-only general insurer says it can search financial and insurance fraud databases to identify potential risks, either at the policy stage or upon receipt of a claim. [...]
AXA Sun Life has joined forces with Newcastle Building Society to launch a Guaranteed Over 50s Plan aimed at those who don’t want to burden their nearest and dearest with their funeral costs. The new life cover is available to Newcastle members aged between 50 and 85 regardless of their health history, and pays out [...]
An investigation by the BBC claims to have exposed a major cash-for-crash insurance scam in the Midlands. Undercover reporters allege that a Woverhampton-based outfit, run by Zeeshan Ahmad, fakes accidents by smashing up cars in a yard. In return for a fee, the journalists agreed to admit liability for an “accident” and handed over their [...]
Insurance broker Kwik Fit Insurance has reported that Liverpudlians are Britain’s most cautious people when it comes to protecting the contents of their home. In the course of the year to January 2010 the average valuation of home contents insured in Liverpudlian postcodes rose to £31,947, a climb of 41%. By contrast, Manchester, London and [...]
Bermuda-based property and casualty insurance and reinsurance specialist Endurance Specialty Holdings Ltd. has announced the appointment of Joan deLemps as chief underwriting officer. DeLemps brings more than three decades of underwriting experience to her new position, and has been with Endurance for the last seven years. She began her career with Aetna Casualty & Surety, [...]
American International Group, Inc. (AIG) and International Lease Finance Corporation (ILFC) have announced the promotion of Senior Vice President Philip Scruggs to the post of ILFC chief marketing officer. He has worked for ILFC for 15 years, mostly as senior VP for marketing, prior to which he served LA law firm Paul, Hastings, Janofsky and [...]
Insurance broker and risk adviser Marsh has announced that it has completed the acquisition of HSBC Insurance Brokers Limited (HIBL) in the UK and key markets in the Middle East. HIBL, a wholly owned subsidiary of HSBC Bank plc, was acquired for £135m following an announcement on 18 December last year. At the same time, [...]
New measures that will allow the electronic delivery of motor insurance certificates are about to become law. Proposed legislation before Parliament today will amend the Road Traffic Act 1988 and Motor Vehicle (Third Party Risks) Regulations 1972. New rules allowing a motor insurance certificate to be issued as an email attachment or accessed via a [...]
The number of dodgy insurance claims has increased significantly since the onset of the recession, pushing up the cost of insurance. Research by LV= found around 40% of solicitors have experienced a rise in the number of spurious insurance claims. Over half (52%) of the potentially fake claims involve car accidents. Whiplash was the most [...]
