Insurance broker and risk adviser Marsh has announced the establishment of an EMEA Renewable Power & Cleantech Practice. The new Practice brings together expertise from the firm’s EMEA Construction, Power and Energy teams, catering to the needs of clients involved in low carbon, sustainable power generation. It will be led by Mark Popplewell, a veteran [...]
The Association of British Insurers (ABI) is promising a speedy response from its members to policyholders who have suffered damage caused by the high winds hitting Scotland and other parts of the UK. The trade body confirms that storm damage, such as that caused by high winds, will be covered by home and business property [...]
HM Treasury has issued its promised consultation on how insurers can use gender as a risk factor. In March, the European Court of Justice ruled that the use of gender as a risk factor by insurers should not result in differences in premiums and benefits for men and women, with effect from 21st December 2012. [...]
The Office of Fair Trading (OFT) has provisionally decided to refer the UK’s £5 billion private healthcare market to the Competition Commission for further investigation. The watchdog’s key concerns include: A lack of easily comparable information available to patients, GPs or health insurance providers on the quality and costs of private healthcare services. Lack of [...]
Brit Insurance has announced the establishment of a new specialist service with the intention of becoming a major underwriter at Lloyd’s in the profitable mega yacht insurance sector. Yachts exceeding 300ft in length can also exceed US$500m in value (including ancillary assets). John Higham, who recently joined Brit, leads the new underwriting team alongside Mike [...]
New research from Bupa has found that Britons may be in for an unpleasant surprise as they get older, due to the fact that they are least likely to think that they will need to save to cover the costs of old age care. The international Bupa Health Pulse study surveyed over 13,000 people in [...]
Motorists are being advised by the Association of British Insurers (ABI) not to risk leaving their cars unattended. As cold weather once again closes in, many will leave their cars unattended whilst they defrost and warm up, but the ABI is advising motorists to stay with their cars and not run the risk of theft. [...]
Recent demands from the Association of British Insurers that companies in which its members hold a stake should curb excessive executive pay and bonuses may be helped along by government proposals to improve pay transparency at larger banks. Financial Secretary to the Treasury, Mark Hoban, wants 15 banks in the UK to reveal the remuneration [...]
Over a third (37%) of economically active over-55s have yet to make plans for their finances in retirement, according to the latest Real Retirement Report from Aviva. The study also claims that the typical over-55 only started to actively think about retirement income at age 48, and were aged 52 before starting to worry or [...]
Towergate’s non-executive deputy chairman and founder Peter Cullum was last night named the Industry Achiever of the Year Award at the Insurance Times Awards. Cullum, who accepted the award in front of more than 2,000 insurance professionals, thanked his present and former colleagues for their support. Editor-in-chief of Insurance Times Ellen Bennett gave the award, [...]
IAG UK has announced its specialist affinity division, Equity Direct Broking Limited, is to be renamed. Equity Insurance Partnerships (EIP) will be the B2B trading name of the affinity business, trading with partners including Santander UK, Renault, first direct and Honda. Managing Director Charles Offord expressed his delight at the new name, stating that it [...]
The Association of British Insurers (ABI) has come out against government plans to end life assurance premium tax relief on policies taken out before 1984. The concession was removed for new policies in 1984 but according to the ABI, there are still around 1.5 million policies in existence that benefit from the 12.5% tax relief. [...]
Ropner Insurance Services has announced the appointment of Katrina Ives to develop its UK wholesale business. Ives brings a quarter of a century of experience to the firm and has worked for a number of major Lloyd’s brokers. She joins the firm from FSJ, part of Ink Underwriting Limited/Giles Group, and is experienced in all [...]
The Association of British Insurers (ABI) has stepped up its efforts to curb excessive remuneration in the City, ahead of this year’s bonus awards. In a letter to the chairmen of the UK’s leading banks, the Association’s chief executive, Otto Thoresen, says: “It is our members’ view that it can no longer be business as [...]
Global specialty insurer Torus has announced it has entered an agreement with Starr Underwriting Agents Limited whereby Torus Syndicate 2243 acquires the renewal rights to CV Starr Syndicate 1919’s Continental European Marine, Casualty, Financial Lines and General Property business. The agreement takes effect from 1 January 2012, and Starr Managing Agents Limited manages both Torus [...]
Global insurer RSA has announced the appointment of Steve Slingsby to the post of global programme director for Global Specialty Lines (GSL). In his new position Slingsby collaborates closely with specialty lines teams to help support the GSL business. The GSL business caters to the needs of large, risk managed and specialist businesses across the [...]
Aviva is reported to be considering selling some of its UK pension assets in efforts to boost its capital position. According to The Sunday Telegraph, the insurer could auction off part of its back-book of annuities to consolidators such as Pension Corporation and Rothesay Life. Last month, the insurer bolstered its capital position with a [...]
The Royal Institution of Chartered Surveyors (RICS) has launched a consultation on professional indemnity insurance (PII) in the UK valuation sector, where it says problems about risk and pricing are creating market dysfunction. According to the body, the quantity and cost of handling alleged negligence claims is having a significant impact on the cost of [...]
Aviva has announced that Carole Piwnica, an independent non-executive director of the group, retired on 1st December 2011 having served nearly nine years on the Aviva board. Ms Piwnica has also retired as chair of the insurer’s corporate responsibility committee, again with effect from 1st December, to be replaced by Gay Heuy Evans. Ms Heuy [...]
Argent Liability Adjusters has announced the appointment of a quartet of new associate directors and three new hires. Lee Stevens, Keith Donnelly, Steve Hall and Gez King have all become associate directors, due to their strong profiles with key clients. The quartet boast strong technical expertise and will promote further technical excellence. The firm has [...]
