Board level interest in anti-money laundering (AML) is being squeezed by other priorities, according to KPMG’s 2011 Global AML survey, with more firms risking “massive” fines. The study revealed a 9% drop in boards considering AML to be a high profile issue (from 71% in 2007 to 62% in 2011), as company chiefs focus on [...]
Aviva’s “You are the Big Picture” campaign has returned, following last year’s Autumn launch. This year’s campaign gives people around the world the chance to have a “moment of recognition” in the form of a photo and personal message projected onto London’s National Theatre. In addition, each person who uploads a photo and message via [...]
City law firm, Reynolds Porter Chamberlain (RPC), has announced a new partner hire: insurance lawyer, Victoria Sherratt. Currently a partner with Barlow Lyde & Gilbert, Ms Sherratt has specialised in property insurance since qualifying in 1999. Dealing with commercial risks in the UK and in international market, she had handled all types of coverage dispute [...]
RSA stands accused of boosting profits by using a subsidiary to inflate its motor insurance repair costs. According to BBC Radio 4′s Money Box programme, a recent court case resulted in Circuit Judge, Judge John Platt, finding that RSA Accident Repairs had increased labour costs without carrying out any work itself, and made other charges [...]
Crawford & Company has made leadership changes in the UK, at its Europe Middle East and Africa/Asia Pacific (EMEA/AP) and global markets operations, in a move aimed at strengthening its relationships with both insurers and brokers. Greg Gladwell has been appointed chief executive officer UK and Ireland, having joined Crawford in June 2010 from Aviva. [...]
Aon’s kidnap and ransom practice has released its first in-depth piracy report, aimed at ship owners worldwide. The study makes use of piracy data from 2009 to 2011 to clarify changing trends in regional and seasonal Somali piracy activity, and look at the emerging threat of piracy off the west coast of Africa. The analysis [...]
The bad behaviour of some young drivers can be attributed, at least in part, to the driving style of their parents, research from AXA suggests. Drivers aged 18-30 are thrice more likely to have points on their licence or a ban if their parents have points or a ban. Younger drivers who have seen their [...]
New research from LV= car insurance has revealed that thousands of drivers are still on the roads legally, despite having garnered 12 or more penalty points. As of 9 July 2011 10,000 drivers were on the roads despite having received enough penalty points to warrant a ban, according to a Freedom of Information request the [...]
Business property insurer FM Global has announced that Vice Chairman Ruud H. Bosman is to retire in November, after four decades with the firm. Bosman first joined FM Global in 1971, and in 2009 assumed a seat on the board of directors when he became vice chairman. As vice chairman he took on responsibilities for [...]
Jardine Matheson has made a partial cash offer for JLT through its subsidiary, JMHI. The deal so far agreed will increase JMHI’s existing holding in the broker by 10%, to 40.35%, at a cost of £166.27 million. The parties say the move will strengthen JLT’s competitive edge, while preserving its independence. Also, Jardine Matheson has [...]
Willis Group Holdings plc has announced the appointment of Seth Peller as chief executive officer of Willis Argentina SA. Peller, whose appointment is made with immediate effect, is to be based in the firm’s Buenos Aires office. He is a veteran of the firm, having worked for Willis for almost two decades, and was most [...]
The number of uninsured drivers on UK roads has fallen by 25% in the past five years, according to the Motor Insurers’ Bureau (MIB). However, illegal drivers in the West Midlands and West Yorkshire are holding back progress, with 17 of the 20 worst postcodes for uninsured drivers located in the regions. Bordesley in Birmingham [...]
Reinsurance broking and risk/capital management firm TigerRisk Partners has announced the establishment of a UK subsidiary, headquartered in London. TigerRisk Partners UK has received the necessary approvals from the FSA and the Corporation of Lloyd’s to trade insurance and reinsurance in the United Kingdom and the Lloyd’s markets. Chief Executive Officer Rod Fox described the [...]
Global loss adjuster McLarens Young International (MYI) has announced that it is to merge with Airclaims, one of the aviation community’s foremost providers of claims, risk and asset management services. After the merger the two firms will continue to trade under their own brands, but Airclaims will become a fully owned entity within the MYI [...]
Zurich Financial Services Group has announced the appointment of Pierre Wauthier to the position of chief financial officer, effective from 1 October. For the last four years he has served the firm as group treasurer, and last year took on the role of head of Centrally Managed Businesses. Wauthier is a veteran of Zurich, having [...]
The large jump in uemployment in a single month is concerning, John Pollock, Group Board Director for Legal & General’s Risk businesses, said in response to the latest ONS figures on unemployment. Pollock referred to the latest Legal & General MoneyMood survey, which found that 12m Britons were struggling to make ends meet. According to [...]
Motorist look set to be more distracted than every by in-car entertainments with the launch of MirrorLink. Developed by the Car Connectivity Consortium (CCC), which is devoted to innovating phone-centric car connectivity, MirrorLink connects mobile devices to in-vehicle infotainment systems, allowing “unprecedented functionality through two-way links between smartphones and in-vehicle displays”. The Consortium, which represents [...]
“Although there is growing awareness of the threats and risks in cyberspace, there is still limited understanding of the nuances of the debate.” According to new research from Chatham House, the directors of one large insurance company admitted they had no idea how they should manage or mitigate a cyber attack and had even less [...]
Boat insurer Towergate Mardon enjoyed a good night at the UK Broker Awards, winning the Claims Service of the Year accolade. In addition to that, Non-executive Chairman of Broker Network and Countrywide Grant Ellis won the Lifetime Achievement award. The high quality of service offered by the firm was recognised by a panel of judges [...]
