Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 21st of January 2018
December 20, 2010

Heath Lambert launches new vet insurance

by Richard Kilner

Story link: Heath Lambert launches new vet insurance

A new comprehensive surgery package has been launched by Heath Lambert to support veterinary practices that may be cut off by snowfall or flooding. The package offers protection against business interruption risks, including on- and off-site equipment and maintenance cover, locum and practice absence cover, drugs in fridges and assaults against staff members. Richard Senior, […]



ACE launches Dubai subsidiary

by Richard Kilner

Story link: ACE launches Dubai subsidiary

The ACE Group of insurance and reinsurance companies have announced that they have been granted a licence by the Dubai Financial Services Authority to establish a wholly owned subsidiary in the Dubai International Financial Centre (DIFC). The DFSA Category IV licence enables ACE to offer reinsurance products to the market through the new company, which […]



Markel appoints terrorism underwriter

by Richard Kilner

Story link: Markel appoints terrorism underwriter

Specialist insurer Markel International has announced the appointment of Edward Winter to the post of terrorism underwriter within the marine and energy division. Winter joins the marine and aviation war team, led by Jason Page, and brings more than 14 years of experience to Markel. Most recently, he worked for Canopius, for whom he helped […]



AXA appoints Gulf and Japanese region CEOs

by Gill Montia

Story link: AXA appoints Gulf and Japanese region CEOs

AXA has announced the appointment of Jérôme Droesch as chief executive officer for the Gulf region, reporting to Jean-Laurent Granier, chief executive officer of the Mediterranean and Latin American regions. In his new role Mr Droesch will oversee the insurance activities of AXA in Saudi Arabia, the United Arab Emirates, Bahrain, Qatar and Oman. Having […]



Allianz sees 40% surge in SME e-trading

by Richard Kilner

Story link: Allianz sees 40% surge in SME e-trading

In the last year Allianz Commercial’s SME e-trading business has grown by 40%, following the launch of online trading platform QuoteSME 12 months ago. QuoteSME now boasts in excess of 3,300 registered brokers, and has grown due to its fully-integrated approach which allows brokers to make time savings of up to 80%. Head of SME […]



America’s RAA endorses License for Reinsurers Act

by Gill Montia

Story link: America’s RAA endorses License for Reinsurers Act

The Reinsurance Association of America (RAA) has endorsed the Federal License for Reinsurers Act 2010, which was introduced in Congress last week. The legislation builds on consumer protection reforms signed into law earlier this year by creating a federal licence for national reinsurers, to be administered by the director of a new Federal Insurance Office. […]



Home damage peaks with Christmas pre-going-out parties

by Gill Montia

Story link: Home damage peaks with Christmas pre-going-out parties

Damage to Britain’s homes caused by beauty products cost an estimated £1.4 billion over the past 12 months, with the Christmas party season a particularly treacherous period for spillages, stains and worse. According to research from Halifax Home Insurance, accidents commonly occur during “pre-going-out” parties and the bill could top £115 million in the run […]



December 19, 2010

Higher car insurance excesses bypass lower premiums

by Gill Montia

Story link: Higher car insurance excesses bypass lower premiums

Increasing the excess on a car insurance policy should lower the premium but new research from Which? Money suggests this is not always the case. Having compared car insurance quotes from a range of providers, the consumer group discovered that raising the total excess on a quote from Aviva, from £350 to £550, actually increased […]



Aviva launches Total Reward Statements

by Gill Montia

Story link: Aviva launches Total Reward Statements

Aviva has enhanced its workplace savings offering with the launch of Total Reward Statements, an online, personalised record that allows employees to understand the value of benefits provided by their employers. The technology, which is provided by Staffcare, is available to firms with Aviva group personal pension schemes and carries an individual company’s branding. Statements […]



December 17, 2010

Lloyd’s appoints head of claims

by Richard Kilner

Story link: Lloyd’s appoints head of claims

Lloyd’s has announced the appointment of David Lang, former chairman of the market’s Claims Service Review Board, to the position of head of claims. Lang was previously a director within the insurance sector for Ernst & Young, and earlier in his career occupied a range of executive roles with QBE. Whilst at QBE he was […]



December 16, 2010

Giles acquiries NI broker CJ Higgins

by Brian Turner

Story link: Giles acquiries NI broker CJ Higgins

Giles Insurance Brokers Ltd has significantly strengthened its presence in the Belfast market following the acquisition of the insurance broking business and its team from CJ Higgins & Co Ltd, the Northern Ireland broker for an undisclosed sum. Higgins is one of the Belfast’s longest established businesses having been formed by Con Higgins more than […]



XL Group moves into China

by Brian Turner

Story link: XL Group moves into China

XL Group plc today announced that it has been granted a license by the China Insurance Regulatory Commission (CIRC), to operate as a P&C (non-life) company in Shanghai. XL Insurance (China) Company Limited will begin business operations after the completion of all the regulatory registrations. It will be led by Zheqiang (Al) Xie, as Chairman […]



XL granted licence for Shanghai subsidiary

by Richard Kilner

Story link: XL granted licence for Shanghai subsidiary

XL Group plc has announced that the China Insurance Regulatory Commission has granted it a licence to operate as a P&C (non-life) company in Shanghai. Once all necessary regulatory registrations are complete XL Insurance (China) Company Limited will start operations. The firm has announced that Zheqiang (Al) Xie will lead the subsidiary, as chairman and […]



Chubb gets final green light for Jiangsu branch

by Richard Kilner

Story link: Chubb gets final green light for Jiangsu branch

The Chubb Corporation has reported that Chubb Insurance (China) Company Limited has been given final approval by the China Insurance Regulatory Commission to open a branch in Nanjing, Jiangsu Province. The new branch is due to open its doors on 28 February 2011, and follows in the footsteps of the firm’s Shanghai branch which has […]



Scottish Equitable to pay £60m in customer redress

by Gill Montia

Story link: Scottish Equitable to pay £60m in customer redress

Scottish Equitable has been fined £2.8 million by the Financial Services Authority (FSA) for “causing significant consumer detriment through poor administrative procedures”. The life and pensions provider, which is part of the Aegon group, also has to pay consumer redress of about £60 million, of which £30 million will have been paid by the end […]



RFIB opens Kazakhstan office

by Gill Montia

Story link: RFIB opens Kazakhstan office

RFIB has expanded its presence in Eastern Europe with the opening of an office in Almaty, Kazakhstan. Galina Pakhomova has been appointed as chief representative for the country, joining the Lloyd’s broker from Allianz Kazakhstan, where she was managing director. Previously, Ms Pakhomova was chief representative of insurance group ROSNO, based in Kazakhstan. The firm’s […]



XL appoints deputy chief enterprise risk officer

by Richard Kilner

Story link: XL appoints deputy chief enterprise risk officer

XL Group plc has announced the appointment of Fielding L. Norton III to the post of senior vice president and deputy chief enterprise risk officer. Prior to joining XL he worked for Ironshore as chief risk officer, leading its enterprise risk management since 2007. Earlier in his career he worked in the Kansas office of […]



LV= wins brace of Customer Service awards

by Richard Kilner

Story link: LV= wins brace of Customer Service awards

LV= enjoyed a good night at the National Customer Services Awards, scooping a pair of the coveted prizes. The firm won the Customer Service Centre of the Year and Financial Service Team of the Year, and the awards were given in recognition of the firm’s Bournemouth, Croydon, Bristol and Huddersfield-based general insurance contact centres. It […]



LV= announces Leeds recruitment drive

by Richard Kilner

Story link: LV= announces Leeds recruitment drive

LV= has announced that it is expanding its presence in Leeds, bolstering the general insurance operation team based in the Northern city. Presently LV= employs roughly 100 people in Leeds, and has stated it is to open a centre of excellence for its claims division, creating 30 new jobs. Most of the new vacancies currently […]



Boozy, cocky uninsured Brits head for the ski slopes

by Gill Montia

Story link: Boozy, cocky uninsured Brits head for the ski slopes

The Association of British Insurers (ABI) is warning that the thousands of British skiers hitting the slopes this winter could be risking “mountainous” medical bills, as many will fall into the following categories: No travel insurance – nearly a third of people questioned in a recent government survey admitted that they did not take out […]