Alan Burdett, managing director and non-practising solicitor at Case Funding Limited, has announced that the firm has been directly authorised by the Financial Services Authority (FSA), effective this week. The firm, which specialises in After The Event Insurance (ATE), Litigation Insurance, Before The Event Insurance (BTE) and Litigation Funding, considered FSA authorisation to be the [...]
The UK home insurance industry is in good shape but faces a number of challenges and a period of transition, research by Defaqto has indicated. In a new report, the financial services analyst suggests that uncertain economic conditions and changes within the sector have combined to create a difficult climate for insurers. Significantly, the number [...]
Willis Re has merged the teams that handle its Continental European and UK-based property and casualty business into an expanded European unit. The creation of Willis Re Europe brings the business under Willis Re International & Specialty, in a move that will capitalise on synergies of expertise and knowledge. London-based managing director, Tony Melia, has [...]
A clampdown on claims settlements by insurance companies is proving the worth of local brokers, according to Higos Insurance Services’ managing director, Ian Gosden. Tougher economic conditions, an increase in claims generated by “no-win-no-fee” claims companies and a rise in insurance fraud are raising costs for insurers and according to figures from the British Insurance [...]
Fusion, part of BGL Group, has announced that it is undergoing a recruitment drive to hire 100 new staff at its Parkside Business Park offices. The company is prepared for a surge in growth and is expecting a further 700,000 customer calls at its Coventry site, handling a range of bike and car insurance brands. [...]
Hiscox has launched a Charities Insurance Portfolio aimed at charities, clubs and associations. The business insurer says its liability and property package enables charities to meet their insurance needs with one policy from one insurer. Available via brokers, it provides trustees with separate limits for professional indemnity, employer practices liability and trustees’ liability, as well [...]
Zurich Financial Services has announced a number of key appointments within its general insurance (GI) business. The firm says the changes are related to an ongoing review of its GI business, which form part of a daunting-sounding initiative to “clarify accountability, focus on responsibility and reduce complexity”, group-wide. Further information on the new GI structure [...]
Commenting on future flood defence investment plans contained in yesterday’s Spending Review, the Association of British Insurers has expressed “disappointment” that spending will not be maintained at current levels, given the scale of the problem and the wider economic benefits provided by flood defences to communities and businesses. The previous Government had committed £2.15 billion [...]
Equitable Life policy holders will receive a total of £1.5 million in compensation, the Government has announced in its Comprehensive Spending Review. The UK’s oldest mutual insurance company came close to collapse in 2000 resulting in over one million savers losing up to 50% of the value of their pension funds. In a 2008 report [...]
Bupa has responded to the Comprehensive Spending Review, delivered by the Chancellor George Osborne earlier today. Bupa Care Services Managing Director Mark Ellerby welcomed the new funding for social care, and described the move, which will bring the NHS and local councils closer together, as a step in the right direction. However, he warned that [...]
Zurich Financial Services Group has announced that John Amore is to retire from the firm, after 18 years of dedicated service to the firm, its clients and shareholders. He first joined Zurich North America in 1992, and for the last nine years has held a seat on the Group Executive Committee. Amore will step down [...]
Catlin Group’s Canadian subsidiary is opening offices in Vancouver and Montreal, in early November. The move will allow Catlin Canada to expand its distribution more fully by targeting business complementary to that already written by its offices in Toronto and Calgary. Pat Bruzzese will lead the new Montreal office as branch manager, having previously headed [...]
Brit Insurance has appointed Vivek Banga, currently the firm’s UK distribution leader, Small Business and Personal Lines, to head of UK distribution, with immediate effect. In his new role, Mr Banga will have responsibility for developing and overseeing channel strategy for the insurer’s UK product range aimed at businesses with a turnover of up to [...]
The firm behind the directijobs.co.uk website is claiming that it can tackle the high cost of traditional insurance recruitment. Formally launched this month, the site is designed to aggregate insurance careers for job hunters and to provide “a critical mass of talent” for recruiting insurers and brokers. Direct Insurance Jobs founding director, Duncan Goodfellow, comments: [...]
Global specialty insurer Torus has announced the appointment Jeffery S. Grange to the post of senior vice president and head of US Professional Lines. Prior to joining Torus he worked for Chubb as senior vice president and worldwide manager for their professional liability businesses. Grange is to be based in the firm’s office in Jersey [...]
TMF, the international VAT and IPT service provider, is warning UK and Irish insurance companies that they could soon face increased costs on outsourcing, owing to a new EU directive. Current rules on VAT for the insurance industry, drawn up in 1977, broadly exempt insurance and intermediary/broking services from VAT. TMF explains: “However, as the [...]
Aon has reported that law firms are recognising the need to start the renewal process for their professional indemnity (PI) insurance early. The broker had received nearly four times the number of proposals at the beginning of August than at the same time last year, as lawyers became aware of a real possibility of a [...]
Global insurance broker Willis Group Holdings has announced that it is to combine its US, UK and International mining expertise hubs into a single global practice. The new group will bring together a number of leaders from throughout the world, including Steve Higginson in Australia; Michael Barnfield in Bermuda and London; Tracy Tucker in the [...]
Bupa Care Services has entered into a partnership with the University of Bradford’s internationally recognised centre for excellence, Bradford Dementia Group, to enable its care home to staff to benefit from specialist dementia care training. The ‘Person First, Dementia Second’ training is being taken up by every member of Bupa’s specialist dementia care home staff, [...]
Marsh has reported that new technologies and environmental responsibility emerged as the issues of greatest concern to risk managers attending a power sector conference held recently in Istanbul. The Marsh Power Forum examined how the power sector in Europe, the Middle East and Africa (EMEA) can manage and mitigate risks associated with growing energy demands [...]
