With the weather growing colder and winter beginning to settle in, RAC has advised motorists to prepare their vehicles for the cold and snowy conditions. RAC has recalled the numerous difficulties motorists faced last year, when the UK suffered a prolonged and especially cold winter, including getting stuck in snow, insufficient fuel and being unable [...]
Chaucer has reported on a strategic review that will result in the business reshaping into three elements as follows: Foundation, Flex and Flagship. Foundation refers to Chaucer’s 27 specialist London classes, including the firm’s new international division, and the UK division, which together should provide “the profit potential, capital benefits of diversification and volatility management [...]
QBE has announced that it has agreed to acquire the US insurance operations of Renaissance Re, which include a US crop and small specialist programme insurance business. Completion of the transaction is expected in March 2011 at a purchase price of around $275 million (paid from QBE’s existing resources), with net tangible assets acquired of [...]
Lloyd’s of London has issued a warning over a recruitment scam which offers “fictitious” employment opportunities with Lloyd’s and asks victims to send their personal details and / or monies. A statement from Lloyd’s makes clear that: Lloyd’s will never ask for a fee to process any recruitment applications. Presently, Lloyd’s offers no relocation package. [...]
Three people have been charged with motor insurance fraud, tax fraud and money laundering offences, totalling £500,000. According to the Insurance Fraud Bureau (IFB), Vitaly Malaydakh, from Hayes, Middlesex, and Elina Jaksone and Gagik Kyriacos Manucharyan, both from Westgate on Sea, Kent, have been charged with dishonestly submitting false and misleading information to insurance companies. [...]
Ageas (formerly Fortis) has announced that it is in the process of contacting some policyholders who have made claims, following notification that building firm Rok’s maintenance office has been closed. Rok was placed in administration last week and the insurer says it is working with all parties involved to ensure that customers’ needs continue to [...]
International insurance and reinsurance underwriting group Kiln has announced the appointment of Ian Brimecome to the post of chairman of Kiln Group. In addition, the firm announced that Paul Hewitt has been made the new chairman or R J Kiln and Co. The appointments follow the decision by Edward Creasy to step down from the [...]
Today Cornwall was hit by major flooding, and Aviva has announced that it already has claims experts on the ground around St Austell to support those caught up in the flooding. Other professionals, such as building contractors, surveyors and drying companies, are waiting to help once the flood waters begin to recede and the scale [...]
New research indicates that while 56% of personal car insurance customers have used the same provider for the past year, policy retention rates vary widely between companies. According to the J.D. Power and Associates’ 2010 UK Auto Insurance Customer Satisfaction Study, some of the UK’s highest-performing car insurers renew more than eight in 10 policyholders, [...]
Following heavy rainfall in Cornwall, the Association of British Insurers (ABI) has issued the following advice for people who have been flooded: Household, business and comprehensive motor insurance policies cover flood damage. Most home insurance policies will cover the cost of alternative accommodation (up to a specified limit) if you need to move out of [...]
Almost 30% of loan customers who have cancelled or are considering cancelling their payment protection insurance (PPI) would consider a replacement policy. The finding by Capita Insurance Services is perhaps surprising, given the negative press PPI has received in recent years. Capita Insurance Services insurance solutions manager Brian Lindley has stated that historically many consumers [...]
Financial services specialist Wesleyan Assurance Society has announced its new business results for the first three quarters of 2010. Overall new business sales increased by almost a fifth (19%) to reach £27.3m, with a 19% rise also occurring in life and savings products. However, ISAs saw an even larger increase, with a 51% rise in [...]
Zurich has announced that it has entered into a definitive agreement to sell back to Unnim its 50% stakes in the Spanish life and general bancassurance companies jointly owned with Unnim. The agreement follows the merger of Caixa Sabadell together with Caixa Terrassa and Caixa Manlleu to form Caixa d’Estalvis Unió de Caixes de Manlleu, [...]
Plans by the European Union to introduce new rules on pension funding run the risk of undermining pension provision, rather than strengthening it. The warning comes from the National Association of Pension Funds (NAPF) in response to a European Commission Green Paper outlining a new solvency regime for pension funds. The proposed regime could mirror [...]
LV= has published its first Working Late Index, which reveals that more than 4.5 million over 50s expect to work beyond the state retirement age, by an average of six years. Just over half (55%) believe they will work no more than five years past the state retirement age and a fifth believe they will [...]
Specialist insurance underwriting business Canopius Group Limited has announced that it is bolstering its Marine and North American Facilities teams with a pair of appointments. Charles Fernandez becomes Marine property and deputy Marine liability underwriter, and joins the firm from Brit where he also handled marine and energy liability, as well as fostering client relationships. [...]
Britain’s GPs are apparently too polite to raise sensitive issues with patients, such as obesity and alcohol misuse. According to Aviva’s latest Health of the Workplace study, personal hygiene tops the list of subjects to be avoided, with more than half of GPs surveyed unprepared to raise the topic with patients. The study also indicates [...]
Heath Lambert has announced that it is bolstering its project risks division with a number of promotions and new appointments. The firm’s project risks team handles a number of important projects, including Crossrail, Thames Tideway and the Forth Bridge Replacement Crossing. Bob Wallace has announced that, after four decades in the sector, he is to [...]
Companies are now able to make use of new technology that can reduce the costs of crashes in their motor fleets by up to 30%. According to research from Zurich, telematics technology (alongside driver development) can help fleet operators improve safety, soften their impact on the environment and reduce operational costs. The technology provides extensive [...]
