Fewer than half of burglars (44%) convicted in 2010 were subject to a custodial sentence, and of those who got a suspended sentence more than half (52%) went on to reoffend, according to data that LV= received in response to an FOI request. The figures comes as new research suggests homeowners are concerned about repeated [...]
The Co-operative is calling for harsher penalties against false claimants and substantial personal injury reform. The firm has called for harsher punishments for those who falsify or exaggerate claims, and those who cold call potential claimants. The Co-operative Insurance believes that costs and premiums could be reduced if a number of measures were taken, including [...]
Marsh, the global risk adviser and insurance broker, has announced that it has appointed Peter Lundberg as the new CEO of Marsh Finland. Lundberg will succeed outgoing Marsh Finland CEO Toivo Makynen, who retires at the end of September. Lundberg joined the firm 10 years ago, and during his decade with Marsh has occupied a [...]
Insurance broker and risk advisor Marsh has announced the appointment of Henrik Larsen as the new chief executive officer of Marsh Denmark. Larsen succeeds Jens Brandum, who is parting ways with the company next month to pursue other avenues of opportunity. Prior to his latest appointment Larsen was Marsh Denmark’s Head of Business Development and [...]
Gallagher Heath has bolstered its presence in the Midlands with the appointment of a quartet of senior executives with specialist local expertise. The four new executives will be based at the firm’s Cornwall Street central office. Account Director Nigel Hall Annison will be joined at the firm by Steve Fletcher, Peter Dearden and Mark Sanders, [...]
Aon Benfield is claiming that catastrophic losses in the first quarter of 2011, plus Solvency II, are driving the need for insurers to boost their understanding of non-modelled perils. The reinsurance intermediary suggests that tsunamis generated by the Japanese and Chilean earthquakes and the disruption caused by the Icelandic and Chilean volcanic eruptions are both [...]
The overall global insurance market remains well capitalised and generally competitive, despite major natural catastrophe losses in the second-quarter, according to Marsh’s Second Quarter 2011 Insurance Market Update. However, insurers are being more selective in the capital they deploy, with some withdrawn from catastrophe affected regions and loss-making sectors of business. As a result, accounts [...]
Specialist (re)insurance broking and risk management group, THB, has confirmed that it is in discussions with AmWINS Group, Inc regarding an offer for its entire issued share capital. AmWINS is a wholesale insurance distributor of specialty products and services, placing more than $5 billion in premium and employing over 2,000 people across more than 70 [...]
XL Insurance has announced the formation of a new railroad underwriting team. Denise DePrimo, who has been appointed senior vice president, will be based in New York and lead the firm’s casualty underwriting activities. Michael D. Margiotta, appointed as vice president, is to establish railroad underwriting capabilities in the firm’s Baltimore office. DePrimo will be [...]
The huge number of natural disasters to afflict the world has meant that 2011 is, even at this stage, a record year for natural catastrophe losses, according to Munich Re. So far, this year has seen losses of US$265bn, exceeding the previous annual record (set in 2005) of US$220bn. In addition, the loss in H1 [...]
Miller has announced the appointment of Ben Speers as the firm’s new head of Legal. In his new role with the firm Speers will be tasked with oversight of its legal and company secretarial matters. Martin Davison, head of Finance, has warmly welcomed Speers to Miller and expressed his delight at the appointment. Davison went [...]
Higos Insurance has acquired Vaughan Insurance Brokers in the Somerset town of Crewkerne. Having traded for over 30 years, Vaughan has a broad personal and commercial client base. Commenting on the acquisition, Higos founder and managing director, Ian Gosden, says: “It has been central to our expansion to take on locally recognised and respected businesses, [...]
UK insurers are to help fund a dedicated insurance fraud unit to be set up with the City of London police, under its economic crime directorate. According to reports, the new unit should be operational early next year, focusing on enforcement and prevention in the current insurance fraud climate, and working alongside the National Fraud [...]
Allianz has partnered with the Vizion repairer network in the UK for all its BMW customers’ motor claim repairs. Commenting on the deal, the insurer’s motor damage supplier controller, Jane Riley, says: “Having worked with BMW since June 2010, Vizion have a track record of delivering exceptional customer service at equitable and sustainable rates.” Vizion [...]
Claims management specialist, Plantec, has appointed Paul Taylor as director of operations. Mr Taylor joins from AXA where he began his career as a claims handler, moving on to hold various senior claims positions. Most recently he led the group’s commercial lines service operation and strategic programme deliveries, as head of strategic programmes. Commenting on [...]
The Chartered Insurance Institute (CII) has appointed Graeme Sutton as director of corporate development. Mr Sutton will join the Institute on 1st August from M4 Underwriting, having previously held senior roles at Fusion, Zurich and Independent Insurance. Commenting on the appointment, the CII’s director of financial services and insurance markets, Steve Jenkins, says: “Graeme’s expertise [...]
CCV has acquired Lincolnshire-based High Street broker, Lincsure Ltd. The firm has been sold by directors, Jim Regan and Sarah Woods, who will remain with the business as it merges with CCV-owned Fenton Insurance Solutions, based in King’s Lynn. The move follows the group’s acquisition in April of Paul Scully Insurance Brokers, an East Sussex-based [...]
Allianz, following its recent deal with BMW Financial Services, has formed a partnership with Vizion repairer network to undertake direction of repairs for claims made by BMW motor customers. Vizion specialise in prestige vehicle accident repair and will take on responsibility for any repairs needed under the terms of the new BMW and MINI car [...]
International insurance and reinsurance underwriting group Kiln has announced the establishment of a new specialist Affinity Programmes team. The new team will be tasked with underwriting bespoke physical and financial asset protection risks across the globe. Martin Headdey has been named as the leader of the new product line, with support from Dominic Sale and [...]
Hiscox has announced that it envisages a 2012 capacity of £1 billion for Syndicate 33, an increase of £100 million from 2011. A full-year 2012 forecast has been submitted to Lloyd’s and the specialist insurer says the increase is driven by anticipated improved market conditions, particularly in reinsurance lines, plus a desire to have sufficient [...]
