FM Global secures Swiss operating licence
by Gill Montia
Story link: FM Global secures Swiss operating licence
FM Global has secured a licence to conduct business in Switzerland.
The commercial property insurer has also opened a new branch in Lugano, saying the expansion is driven by growth of its Swiss business and the need for more operational flexibility in the region, although it will continue as a co-insurer with its existing Swiss WorldReach [...]
UIB secures Royal Air Maroc appointment
by Gill Montia
Story link: UIB secures Royal Air Maroc appointment
UIB has replaced JLT as sole and exclusive insurance broker for the renewal of insurances to Moroccan flag carrier, Royal Air Maroc.
The appointment gives the group a significant share of the North African airline market, with Air Algerie already an established client.
Royal Air Maroc has a fleet of 71 aircraft valued at $1.5 billion [...]
Marsh offers firms winter survival strategies
by Gill Montia
Story link: Marsh offers firms winter survival strategies
Marsh has come up with a check list for organisations struggling with the UK’s freezing winter conditions.
The broker and risk adviser has outlined a number of actions aimed at protecting staff, the public and assets, while at the same time maintaining services.
Some key areas covered by the firm are as follows:
It is worth running a [...]
BIBA partners Bluefin for new D&O offering
by Gill Montia
Story link: BIBA partners Bluefin for new D&O offering
The British Insurance Brokers’ Association (BIBA) has partnered with Bluefin to provide a new members’ scheme for Directors & Officers (D&O) insurance.
Bluefin is already a BIBA scheme provider, having run MotorRiSK BIBA for almost four years.
The new policy, which includes a number of exclusive benefits to BIBA members, is underwritten by ACE European Group and [...]
XL Insurance expands professional lines team
by Gill Montia
Story link: XL Insurance expands professional lines team
XL Insurance has announced the appointment of two financial institutions underwriters to its London-based professional lines team.
Senior underwriters Gerard Bloom and Neale Stevenson will offer specialist professional liability coverage for financial institutions such as hedge funds, asset managers and banks.
Mr Bloom moves from Zenith to head the new team, bringing to bear more than 15 [...]
Towergate Risk Solutions secures Bannatyne contract
by Gill Montia
Story link: Towergate Risk Solutions secures Bannatyne contract
Towergate Risk Solutions (TRS) Teesside has secured a three-year partnership with Bannatyne Group, the fitness centre and hotel chain.
Under the terms of the agreement, TRS Teesside will advise the group on all their insurance and risk management requirements.
Commenting on the deal, Bannatyne managing director, Nigel Armstrong, says: “Following a change of personnel at Towergate Teesside [...]
Small businesses lag behind in major incident planning
by Gill Montia
Story link: Small businesses lag behind in major incident planning
The British Insurance Brokers’ Association (BIBA) is calling on the Government to do more to ensure that small businesses can survive a major incident.
According to the Association, 80% of small businesses affected by events such as a fire, flood, an act of terrorism, or a pandemic close down within 18 months.
However, research commissioned by BIBA [...]
Marsh supports US expansion with NIA acquisition
by Gill Montia
Story link: Marsh supports US expansion with NIA acquisition
Marsh & McLennan Agency (MMA), which was established by Marsh Inc in 2008 to meet the needs of mid-sized businesses in the US, has acquired NIA Group, LLC.
The purchase forms part of a series of strategic acquisitions by MMA, aimed at building a national business.
NIA is the 34th-largest independent broker in the US and the [...]
QBE acquires Evergreen portfolio
by Gill Montia
Story link: QBE acquires Evergreen portfolio
Business insurer, QBE European Operations (QBE EO), has acquired the brand and renewal rights of the Evergreen portfolio from Lloyd’s managing agency, Beaufort, which is owned by Munich Re.
Evergreen acts exclusively as a service company for MSF Pritchard Syndicate 318, specialising in small commercial combined insurance business.
According to QBE EO, the move will expand [...]
Insurers face record fire claims
by Gill Montia
Story link: Insurers face record fire claims
The Association of British Insurers (ABI) has reported that the cost of fire damage in the UK has risen to record levels.
During the first half of the year, insurers paid out £639 million, or £3.6 million a day, for damage caused by fires.
The figure is at its highest ever for a comparable period and [...]
Torus merges with Sideris Re
by Gill Montia
Story link: Torus merges with Sideris Re
Speciality insurer, Torus, has announced that its parent company, First Reserve Corporation, has agreed to amalgamate the business with its other major insurance investment vehicle, Sideris Re Holdings.
The latter owns a Bermudian class 3 reinsurer and provides the capital supporting Lloyd’s syndicate 2243, which writes a worldwide portfolio of upstream and offshore energy risks as [...]
Bupa enhances group income protection offering
by Gill Montia
Story link: Bupa enhances group income protection offering
Bupa is “significantly enhancing” its group income protection offering from 1st January 2010.
The healthcare company has been studying customer and intermediary feedback and in future will provide early intervention and return-to-work support on all group income protection schemes, with no increase to premiums.
Dedicated claims assessors and nurses will be allocated to each case to enable [...]
APC launches new commercial combined offering
by Gill Montia
Story link: APC launches new commercial combined offering
APC is launching a commercial combined policy which it claims will be one of the broadest in the market.
From 7th December, the underwriting specialist will be able to cater for over 250 different trades across a range of sectors, including wholesalers, distributors, manufacturers, processors, engineering risks and leisure risks.
According to the firm, any [...]
Amlin to acquire Crowe Livestock Underwriting
by Gill Montia
Story link: Amlin to acquire Crowe Livestock Underwriting
Amlin has announced that it is acquiring Crowe Livestock Underwriting Limited.
The transaction will be completed by a wholly-owned subsidiary of the group, and remains subject to the approval of the Financial Services Authority.
Crowe is an internationally recognised provider of specialist insurance to the livestock industry.
The firm, which is based in Norfolk and employs [...]
Philip Morris ordered to pay ex-smoker $300m
by Gill Montia
Story link: Philip Morris ordered to pay ex-smoker $300m
A Florida court has ordered cigarette manufacturer, Philip Morris, to pay $300 million to an ex-smoker.
The damages have been won by Cindy Naugle, who suffers from smoking-related emphysema, and is now wheelchair bound.
Philip Morris has indicated that it intends to mount an appeal; the group’s spokesman told the BBC that the punitive damages are “grossly [...]
THB to launch Cardinus Risk Management brand
by Gill Montia
Story link: THB to launch Cardinus Risk Management brand
THB is undertaking a restructure aimed at developing a new brand for the UK and US risk management markets.
The specialist broker is launching Cardinus Risk Management which is being formed from the merger of THB Risk Management – Property Risk Management, and Cardinus, its health and safety consultancy.
The new business will be led by [...]
Galatea rebrands as Travelers Underwriting Agency Limited
by Gill Montia
Story link: Galatea rebrands as Travelers Underwriting Agency Limited
Specialist marine underwriting agency, Galatea, has rebranded as Travelers Underwriting Agency Limited.
The move follows Galatea’s acquisition by US-based Travelers in 2007 and reflects the overall success of the integration process.
It should also help the business benefit from the parent company’s well-established brand.
Commenting on the change, Travelers’ spokesman Mark Clifford said: “This allows us [...]
Beazley expands marine underwriting business
by Gill Montia
Story link: Beazley expands marine underwriting business
Beazley has announced a major expansion of its marine underwriting business which should benefit freight forwarders, port operators, ship managers, naval architects and marine surveyors, among others.
The Lloyd’s insurer is enhancing its professional liability and logistics coverage and has formed a new team, headed by Zareena Hussain, to lead its drive into this section of [...]
AA partners Moorhouse in commercial lines offering
by Gill Montia
Story link: AA partners Moorhouse in commercial lines offering
AA Insurance has launched a range of own-brand products aimed at small to medium-sized enterprises (SMEs).
The group has joined forces with Moorhouse Brands, a subsidiary of Welsh broker Moorhouse, to develop an offering that contains a range of policies tailored for SMEs, trades people and the construction industry.
The selection includes liability insurance, professional indemnity; fleet [...]
jml Property enhances rent guarantee offering
by Gill Montia
Story link: jml Property enhances rent guarantee offering
jml Property Insurance has added Simple Rent Guarantee Insurance to its offering.
The online intermediary has recently launched a specialist “Rent Guarantee” section on its website, in response to landlords’ growing concerns over arrears.
HomeLet, Letsure, Endsleigh and Rentguard already appeared on the site which now also contains Simple Insurance’s offering.
The new policy covers up to £15,000 [...]
