Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 17th of January 2018
October 27, 2010

Minister signals change to personal injury lawyers’ fees

by Gill Montia

Story link: Minister signals change to personal injury lawyers’ fees

Justice Secretary, Ken Clarke, has indicated that lawyers in England and Wales may be prevented from raising the bar on their fees when successful in no-win-no-fee personal injury cases. Lawyers working on a no-win-no-fee basis are currently able to double their fees in cases they win. However, speaking on BBC Radio 4’s Law in Action […]



Aviva launches protection Adviser Underwriting Centre

by Gill Montia

Story link: Aviva launches protection Adviser Underwriting Centre

Aviva has launched an online resource for advisers, aimed at making the application process for life, critical illness and income protection insurance smoother. The Adviser Underwriting Centre is available through the “Aviva for Advisers” site and apparently contains everything that intermediaries need to know when helping a client complete a protection proposal. It includes a […]



Munich Re expands in US Medicare market

by Gill Montia

Story link: Munich Re expands in US Medicare market

Munich Re is acquiring Windsor Health Group, Inc., in a move that will strengthen the German insurer’s position in the US Medicare market. Windsor operates government-sponsored health plans through its Windsor Health Plan subsidiary, providing specialty services in the senior segment to more than 75,000 members in Alabama, Arkansas, Mississippi, South Carolina and Tennessee. The […]



BIBA gets to work on PMI tax issues

by Gill Montia

Story link: BIBA gets to work on PMI tax issues

The Healthcare Focus Group of the British Insurance Brokers’ Association (BIBA) is to set up a working group to examine the issue of personal taxation and Private Medical Insurance (PMI). Tax concessions for the over 60s and how the removal of concessions have impacted on PMI sales will be included in the review and the […]



October 26, 2010

Brit board recommends Achilles’ cash offer

by Gill Montia

Story link: Brit board recommends Achilles’ cash offer

Brit Insurance has agreed the terms of a cash offer for the business made by Achilles, a newly-incorporated company formed on behalf of private equity firms, Apollo Management and CVC Capital Partners. The move will give Brit shareholders who accept the offer up to £11 in cash per share, while non-accepting shareholders will receive £10.45 […]



Personal motor market unprofitable until 2015

by Gill Montia

Story link: Personal motor market unprofitable until 2015

The UK personal motor market will remain unprofitable until at least 2015, as a result of a 30% annual increase in the cost of fraudulent claims and an over-reliance on pricing in an increasingly competitive market. According to professional services firm, Towers Watson, fraudulent crash-for-cash claims continue to “spiral out of control”, while third-party bodily […]



Allianz offers BMW/MINI tyre insurance

by Richard Kilner

Story link: Allianz offers BMW/MINI tyre insurance

BMW and MINI drivers can now take advantage of a new product on offer by Allianz Retail and BMW Financial Services. The firms are now providing a customised Tyre Insurance product, enabling tyres damaged by accident or malevolence to be repaired or replaced. The new product follows other exclusives available solely to BMW and MINI […]



AIG announces CEO is suffering cancer

by Richard Kilner

Story link: AIG announces CEO is suffering cancer

American International Group, Inc. (AIG) has announced that its president and chief executive officer, Robert H. Benmosche is suffering from cancer. Benmosche, who is undergoing aggressive chemotherapy to combat the disease, has said that he feels fine and will work to his normal schedule. The long term implications of the cancer will become clearer in […]



Munich Re to acquire Windsor Health Group

by Richard Kilner

Story link: Munich Re to acquire Windsor Health Group

Munich Re has agreed terms for the acquisition of Windsor Health Group, Inc. in line with its strategic goal of bolstering its presence in the US Medicare market. Munich Re provides global insurance, reinsurance and risk management expertise in the field of healthcare under the brand name of Munich Health. Windsor provides government-sponsored health plans […]



New CEO at Colemont Global Group

by Richard Kilner

Story link: New CEO at Colemont Global Group

AmWINS Group, Inc., the wholesale distributor of specialty insurance products and services, has announced that Skip Cooper (President of AmWINS) has been appointed as chief executive officer of Colemont Global Group Limited (CGGL) and Colemont Insurance Brokers Limited (CIBL). CIBL Non-Executive Director Jeremy Underwood has become chairman of CIBL and will collaborate with Cooper to […]



Jelf appoints partnerships director

by Gill Montia

Story link: Jelf appoints partnerships director

Jelf has appointed Andy Tedstone as partnerships director, reporting directly to Phil Barton, the group’s chief executive, insurance. In his new role, Mr Tedstone will focus on strengthening and developing relationships with affinity partners, with the aim of building relevant schemes with specialist scheme insurers. Having joined Clarke Roxburgh in 2004 (acquired by Jelf in […]



Questor discounts car-hire excess cover

by Gill Montia

Story link: Questor discounts car-hire excess cover

Questor, the car-hire excess insurer, is offering a 10% discount for customers purchasing online and using a dedicated link from the jml Insurance / insurance4carrental website, before the end of December. Visitors to the sites need to find the Questor insurance page and will be provided with an offer code once they have landed on […]



October 25, 2010

Willis announces new Birmingham office

by Richard Kilner

Story link: Willis announces new Birmingham office

Global insurance broker Willis Group Holdings has announced it is opening a new office in Birmingham’s Jewellery Quarter. The firm is the largest corporate insurance broker in the British city, and its new Birmingham office was opened by Chief Executive Officer and Chairman Joe Plumeri. Willis Birmingham Branch Director Richard Waltier explained the firm’s keenness […]



Barclays forms partnership with FirstAssist

by Richard Kilner

Story link: Barclays forms partnership with FirstAssist

Barclays has announced that it has formed a new three-year partnership with FirstAssist, replacing its previous partnership with Aviva. Barclays customers taking out travel cover from the bank will now have their coverage provided by FirstAssist, the new travel insurance provider. Barclays General Insurance and External Relationships Director Rob Clarkson described FirstAssist as a specialist, […]



Higos offers protection against risk of redundancy

by Richard Kilner

Story link: Higos offers protection against risk of redundancy

Following the news in the Comprehensive Spending Review (CSR) that an estimated 490,000 public sector workers will lose their jobs during a four year period, anxiety about job security has increased. People concerned about holding onto their job will also be worried about affording to pay the bills, and may be surprised to learn that […]



LIU Europe bolsters UK property team

by Richard Kilner

Story link: LIU Europe bolsters UK property team

Liberty International Underwriters Europe (LIU Europe) has announced a trio of regional appointments to its UK property insurance team. Both Matt Cullen and Daniel Fielding join the firm as regional property managers, with Cullen based in Birmingham and Fielding in Manchester. Warren Ash also joins LIU Europe in Manchester, and takes up the post of […]



October 22, 2010

Allianz appoints property and casualty manager

by Richard Kilner

Story link: Allianz appoints property and casualty manager

Allianz Commercial has announced the appointment of Anita Gough to the post of property and casualty manager in Birmingham. Gough joined the firm seven years ago and until her latest appointment served the firm as a key account manager responsible for fostering national broker relationships in the Midlands and South West. As property and casualty […]



Chubb reports quarterly profits

by Richard Kilner

Story link: Chubb reports quarterly profits

The Chubb Corporation has reported that it made a net profit of $572m in Q3 2010, equating to $1.80 per share. This is a modest decline on the $596m made in the same quarter last year, but is a rise in terms of net income per share, which was $1.69. It is also a rise […]



Brit Insurance promotes Mudd

by Richard Kilner

Story link: Brit Insurance promotes Mudd

International general insurance and reinsurance group Brit Insurance has announced the promotion of North American Professional Indemnity Underwriter Jonathan Mudd to the post of class underwriter. Mudd, who takes up his new role with immediate effect, first joined Brit as a graduate some seven years ago and within two years had become North American Professional […]



Case Funding Limited secures FSA authorisation

by Gill Montia

Story link: Case Funding Limited secures FSA authorisation

Case Funding Limited, which specialises in After The Event Insurance (ATE), Before The Event Insurance and Litigation Funding, has been authorised by the Financial Services Authority (FSA). The firm has plans to add a range of new products within the next six months, ranging from an ATE product for solicitor clients, to Professional Indemnity (PI) […]