Daily Insurance Industry News
 
 
Daily Insurance Industry News
Friday 17th of August 2018
September 28, 2010

Lloyd’s reports £628m interim profits

by Richard Kilner

Story link: Lloyd’s reports £628m interim profits

Lloyd’s of London has reported interim profits of £628m for the first six months of the year. The market has stated that the biannual result is a reflection of challenging investment conditions and significant claims. Central assets hit the record high of £2,232m, and an investment return of £597m was yielded by the conservative investment […]



September 27, 2010

Miller enjoys awards success

by Richard Kilner

Story link: Miller enjoys awards success

The 2010 Global Broker and Underwriter London Market Leaders survey has named Miller as the best direct and reinsurance claims broker. Chief Executive Graham Clarke expressed his delight at the success, with the firm being named the best direct and reinsurance claims broker for the third consecutive year. Clarke opined that the firm’s success was […]



Bupa launches affordable cash plan

by Richard Kilner

Story link: Bupa launches affordable cash plan

Bupa has introduced a new comprehensive cash plan for businesses, costing from just £1 per employee per week. Bupa Cash Plan Fundamentals offers three levels of coverage, and allows employees to claim up to £2,295 back towards the cost of typical healthcare expenses. On an annual basis, up to £200 is provided for optical and […]



MAPFRE ASISTENCIA and InsureandGo sign agreement

by Richard Kilner

Story link: MAPFRE ASISTENCIA and InsureandGo sign agreement

MAPFRE ASISTENCIA and travel insurance intermediary InsureandGo have signed an agreement whereby MAPFRE will provide all of InsureandGo’s travel insurance product range in the United Kingdom and Ireland. The six year agreement is an indication of the strong relationship the two firms have developed with one another over the last year and more. All of […]



DUAL partners The Judge with ATE offering

by Gill Montia

Story link: DUAL partners The Judge with ATE offering

DUAL Corporate Risks has secured an agreement with The Judge, a leading broker in litigation risk transfer solutions, to become one of their specialist commercial After The Event Insurance underwriters. The specialist agency will underwrite the insurance risks while The Judge will act as a broker, and Dual says it will consider all types of […]



Marsh responds to gold price with new metals insurance

by Gill Montia

Story link: Marsh responds to gold price with new metals insurance

Record-high gold bullion prices mean that firms involved in metal trading, storage and transit are at risk of being under-insured, according to Marsh. In response, the broker has developed a new metals’ insurance product that provides up to $1 billion of cover for precious and base metals whist in transit or in store, worldwide. The […]



Motorists can avoid admin fees with YourCover

by Richard Kilner

Story link: Motorists can avoid admin fees with YourCover

Seventy percent of car insurers charge an administrative fee for even minor changes to a policy, according to research from Which? Money. New online motor insurer YourCover insurance charges nothing for such changes, and offers competitive APR for those who prefer to pay in instalments. YourCover conducted its own research, and found that the prevailing […]



Pegasystems launches P&C claims solution

by Gill Montia

Story link: Pegasystems launches P&C claims solution

Pegasystems has launched Pega Claims for Property and Casualty Insurers, which the firm asserts will revolutionise the way insurers process claims. According to the business solutions specialist, its new product provides greater ease-of-use and faster time to value through a single platform, with key capabilities as follows: Rapidly implementing configurable, end-to-end claims processes for general […]



CBI: insurers sees rise in volumes and profitability

by Gill Montia

Story link: CBI: insurers sees rise in volumes and profitability

The UK financial services sector has seen its fifth consecutive quarter of growth, according to the latest Confederation of British Industry/PricewaterhouseCoopers (PwC) Financial Services Survey. Thirty-seven per cent of firms questioned reported a rise in business volumes in the three months to September, although progress was “much slower” than was expected. With regard to life […]



September 26, 2010

Four charged with multi-million pound insurance fraud

by Gill Montia

Story link: Four charged with multi-million pound insurance fraud

The Insurance Fraud Bureau (IFB) has confirmed that four people, some of whom are from the medical and legal professions, have been charged as part of an ongoing joint operation with City of London Police. The individuals are suspected of being involved in a multi-million pound fraud against the UK insurance industry and the joint […]



September 24, 2010

Groupama appoints counter fraud manager

by Richard Kilner

Story link: Groupama appoints counter fraud manager

Groupama Insurances has announced the appointment of Andy Pagett to the position of counter fraud manager. Pagett joined the firm from Fortis, and is directly responsible to Steve Caffrey, the head of Technical Claims. He brings more than a quarter of a century of experience to Groupama, and in his new role will be tasked […]



Brodies enhances insurance and H&S group

by Richard Kilner

Story link: Brodies enhances insurance and H&S group

Brodies LLP has announced that it has bolstered its insurance and health and safety group with the appointment of Elena Fry. Fry, who was formerly head of insurance and health and safety at Biggart Baillie, joins Brodies along with members of her former team at Biggart Baillie and is to be based in the firm’s […]



September 23, 2010

Guy Carpenter appoint chief actuary

by Richard Kilner

Story link: Guy Carpenter appoint chief actuary

Global risk and reinsurance specialist Guy Carpenter & Company, LLC has announced the appointment of Steve White as the firm’s new chief actuary. White, who assumes the position with immediate effect, succeeds Don Mango who has been appointed head of Global Advisory. White will continue to spearhead the development of risk and capital decision tool […]



Solvency II to affect insurers’ capital requirements

by Richard Kilner

Story link: Solvency II to affect insurers’ capital requirements

New European Solvency II rules will mean European insurers losing an average of two-thirds of their current surplus capital, according to a new study by Morgan Stanley and Oliver Wyman. Jeremy Irving, partner at international law firm Eversheds, has stated that the introduction of the new regulations will necessitate a cultural and operational shift for […]



THB bolsters Amsterdam office

by Richard Kilner

Story link: THB bolsters Amsterdam office

THB, the specialist insurance and reinsurance broking group, has announced that it has bolstered its operations in the Netherlands with the appointment of Peter de Kersaint Giraudeau in Amsterdam. Giraudeau brings with him extensive international experience, having worked in the UK, Venezuela, Spain and Brazil, and most recently was a senior executive at HSBC Insurance […]



September 22, 2010

US drivers back ban on mobile phones

by Richard Kilner

Story link: US drivers back ban on mobile phones

New research from the Chubb Group of Insurance Companies has revealed that more than half of US motorists have used a cell phone whilst driving, yet 90% want the practice to be made illegal. Forty-three percent of those who admitted to using a hand-held phone whilst driving thought it should be illegal. Interestingly, a huge […]



Child car seat cover soars to 47%

by Richard Kilner

Story link: Child car seat cover soars to 47%

Defaqto, the financial research company, has found that 47% of standard comprehensive motor insurance policies provide specific coverage for child car seats. This is a huge increase on the 3% that provided such coverage in 2004. General Insurance Insight Analyst Mike Powell explained that four years ago the law changed to make car seats mandatory […]



NMJ moves acquisition to Open GI

by Richard Kilner

Story link: NMJ moves acquisition to Open GI

Open GI has been selected by high street firm NMJ Insurance Brokers to act as NMJ’s IT partner for its most recent acquisition. Last month Protheroe Insurance, a firm based in Derbyshire and specialising in motor, home and commercial insurance, was acquired by NMJ. NMJ is consolidating onto a single IT platform, and as part […]



September 21, 2010

QuestGates appoints personal injury director

by Richard Kilner

Story link: QuestGates appoints personal injury director

Specialist loss adjuster QuestGates has bolstered its Liability division with the appointment of Sarah Reynolds as personal injury director. She joins the firm from Cunningham Lindsay where she handled large and catastrophic personal injury claims within the London Market. Reynolds will be based in QuestGates’ London office, and brings more than two decades of experience […]



Willis appoints global HR director

by Richard Kilner

Story link: Willis appoints global HR director

Global insurance broker Willis Group Holding has announced the appointment of Celia Brown as executive vice president and group human resources director. Brown, who assumes her new post with immediate effect, will be based in New York and directly responsible to Chief Operating Officer Tim Wright. She will be tasked with developing Willis’ global HR […]