International healthcare group Bupa has announced that it has enhanced its provision of cancer coverage by no longer selling corporate health insurance schemes which include overall cost or time limits for the disease. New drugs introduced several years ago steeply increased the cost of cancer treatment which led to financial and time limits being imposed. [...]
Aviva has added three new products to Fast Trade, its commercial lines trading platform. The addition of Cargo Annual plus (in recent months) Computer and Manufacturing & Wholesale, takes the number of products available on the platform to nine. Commenting on the enhancement the insurer’s regional broker director, Gareth Hemming, says: “We have seen a [...]
Towers Watson has appointed Rory O’Brien as global risk consulting and software leader, effective immediately. He replaces Steve Taylor-Gooby, who is stepping down from the role after 25 years with the professional services firm. Mr O’Brien joins from EMB, the risk consulting and software firm acquired by Towers Watson in February in a move aimed [...]
Unite is raising an alert over possible compromises in workplace health and safety which could be introduced under the “camouflage” of government measures aimed at cutting red tape for businesses. The UK’s largest trade union is responding to proposals unveiled by employment minister, Chris Grayling, which it claims could result in health and safety inspections [...]
The Health & Safety Group at law firm Brodies LLP has launched two initiatives as part of its expanded service offering to businesses around the country. With the first few hours after an incident of critical importance, the group now provide clients with a new round-the-clock health and safety emergency response telephone number. Brodies’ H&S [...]
Claims Management Company, First Response Law (FRL) has announced a partnership with bodyshop repairer network, The Bodyshop Fellowship, to provide claims management and accident management services to clients and members. FRL will become the chosen claims management services company for Bodyshop Fellowship members to refer customers to for first notification of loss, fault & non-fault [...]
Brokers catering to the SME sector are missing out on substantial revenue generating opportunities according to new research commission by Groupama Insurances. Just over a third (37%) of brokers are actively encouraging personal accident insurance (PA) to their clients, with misconceptions about the coverage and its value thought to be the prime reason behind the [...]
Ecclesiastical has reported its financial results for 2010, including pre-tax profits of £50.4m, down from £79m in the previous year. However, this does mean that it enjoyed a return to the black in the latter half of the year following a £9.9m pre-tax loss incurred in the first six months of 2010. General insurance gross [...]
Liberty International Underwriters in Europe has announced the appointment of Gordon Smith as the firm’s new Environmental Impairment Liability (EIL) underwriter in its Madrid office. Smith, whose appointment comes as the firm seeks to expand its environmental team in Spain and Portugal, will report directly to Duncan Spencer and Fernando Lara, EIL VP and head [...]
Britons are doing their bit to try to prevent climate change but need more help and support, according to new research from Aviva. A study by the insurer found that 85% of respondents are already taking positive action when it comes to tackling climate change, with almost seven in 10 people saying they were concerned [...]
Swiss Re estimates claims costs of $1.2 billion (net of retrocession and before tax) from the earthquake and tsunami in Japan, although estimates are subject to a “high degree” of uncertainty, as events continue to unfold. Commenting on the Japanese insurance market the reinsurer says: A government-run insurance scheme provides cover for earthquake shock and [...]
Liberty Syndicates Management, part of the Liberty Mutual Group, has moved to a new office in Paris. The Lloyd’s underwriter had relocated to larger premises in the Washington Plaza building, close to the Arc de Triomphe, with the new accommodation suitable for further business expansion as opportunities arise. Liberty Syndicates launched in Paris in 2003 [...]
Marsh is warning that organisations need to prepare for the possibility of extended disruption to global supply chains resulting from the earthquake and tsunami in Japan. The broker’s head of supply chain risk management, Gary Lynch, explains: “Given that the immediate priorities in Japan are likely to be social not economic, the aftershocks to the [...]
Helphire Group plc has announced that Paul Marlow has been appointed to the position of insurer relations manager. Marlow previously worked for RBS Insurance, and there acquired over a decade of experience during which time he worked as an account executive and relationship manager. In his new position with Helphire Group he will be directly [...]
Specialist insurer Hiscox has announced a brace of new appointments to bolster its UK Professions and Specialty Commercial (PSC) division. Samantha Newman has been named as the head of Emerging Professional Indemnity and Charities and will be directly responsible to John Heaney, head of Professions and Specialty Commercial. Newman, who is to be based in [...]
The risks faced by the UK’s insurance industry have been highlighted in the first Prudential Risk Outlook (PRO) to be published by the Financial Services Authority (FSA). The regulator says that UK life insurers continue to face a number of medium to long-term pressures on profitability, explaining: “In particular, while new business flows are reportedly [...]
FSA authorisation has been granted to Ecclesiastical Investment Management (EIM), part of the Ecclesiastical Insurance Group, enabling it to establish two new specialist investment funds for Charities. The new funds have been designed to cater to UK Church and Charity investors, building upon Ecclesiastical’s relations and experience within the sector. Robin Hepworth and Chris Hiorns [...]
Kiln has launched a new liability unit to underwrite and support general liability risks. The new product line will initially focus on writing primary and excess business in the open market, as well as supporting the insurance and reinsurance group’s position in the binding authority field. Led by Chris Jones, it will operate with a [...]
In presenting preliminary results for 2010, Legal & General has reported a 28% increase in worldwide sales, to £1.8 billion, on an annual premium equivalent (APE) basis (2009: £1.4 billion APE). IFRS pre-tax profit amounted to £1.092 billion (2009: £1.074 billion). Group chief executive, Tim Breedon, says: “In 2010 we successfully demonstrated we can both [...]
