Ship and cargo premiums set to fall
by Gill Montia
Story link: Ship and cargo premiums set to fall
The marine sector can expect ship and cargo premiums to fall by up to 10% during 2008, despite the fact that overall, risks in the sector are increasing.
According to Aon’s 2008 Marine Insurance Market Review, ship and cargo owners are paying less in premiums because claims have decreased as a result of advances in ship […]
Protean launches hedge fund insurance
by Gill Montia
Story link: Protean launches hedge fund insurance
A new company, Protean Investment Risks (PIR), is launching its first insurance product, which is aimed at those investing in hedge funds.
The product, which Protean claims is the first of its kind in the world, will protect investors from losses that are a direct consequence of fraudulent actions by a fund manager or any […]
CBG Announces Acquisition of Barclay Brown
by Stewart Douglas
Story link: CBG Announces Acquisition of Barclay Brown
Manchester based insurance broker CBG has today announced that it has successfully completed the acquisition of niche broker Barclay Brown, in a move that will see the broker consolidate its regional holdings in the North West insurance market.
The completion of the deal was announced to the Stock Exchange today, which includes a two-tier payment plan […]
APC Launches Property Owners Policy Through QuoteMac Platform
by Stewart Douglas
Story link: APC Launches Property Owners Policy Through QuoteMac Platform
APC, the commercial underwriting firm, has today announced that it plans to kick-off the new year with the launch of its proprietary property owners policy through its affiliated remote trading partner platform QuoteMac, in a move designed to launch its updated product range for the next twelve months.
The commercial property owners scheme includes a cross-section […]
Groupama upgrades PMI to include travel insurance
by Gill Montia
Story link: Groupama upgrades PMI to include travel insurance
Groupama Healthcare has made some improvements to Santé, its private medical insurance product.
Santé was launched in 2006 and is aimed at the corporate SME sector. Its comprehensive cover provides a full refund on eligible inpatient treatment as well as various levels of outpatient cover.
The product has now been extended to include the option of annual […]
Home & Legacy launch landlords’ policy
by Gill Montia
Story link: Home & Legacy launch landlords’ policy
Home & Legacy, the buildings and contents insurer, has launched a new product aimed at landlords.
Home & Legacy Let is available through intermediaries and applies the same premium rates for professional, student, and housing benefit tenants.
Cover for multiple properties can be arranged under one policy and landlord-specific legal expenses insurance is included as standard, as […]
Chubb Launch MasterPackage Cover
by Stewart Douglas
Story link: Chubb Launch MasterPackage Cover
Insurance and security firm Chubb has today revealed its flagship MasterPackage policy, designed to meet the wide ranging requirements of commercial insurance buyers under a single policy document to provide more cohesive cover for small to large businesses nationwide.
The idea behind the new MasterPackage policy is that it will combine the diverse and varied insurance […]
Asbestos Specific Insurer Start-Up Launched
by Stewart Douglas
Story link: Asbestos Specific Insurer Start-Up Launched
A start-up reinsurance firm has today announced it is to provide cover for asbestos related problems and exposure to corporate clients, managing commercial risk to backdated asbestos and related health risked posed to former employees in dangerous work environments.
St George Re Limited has been set up to provide cover in lieu of the rise […]
Professional Indemnity insurers expect claims deluge
by Gill Montia
Story link: Professional Indemnity insurers expect claims deluge
Professional Indemnity (PI) insurers are expecting a sharp rise in claims during the coming year because of mounting pressures on the commercial and residential property markets.
According to Flaxman Partners, the independent professional liability risk consultants, a fall in property prices will lead to an increase in defaulted loans and a rise in the number of […]
Direct Fleet Insurance reports strong growth
by Gill Montia
Story link: Direct Fleet Insurance reports strong growth
Direct Fleet Insurance (DFI), the website that allows fleet owners and their brokers to obtain quotes directly from leading insurance companies, has reported strong growth since its launch this autumn.
The company has recently added Brit and HSBC to its insurer panel, which already includes AXA, Allianz and Zurich.
Using the DFI service, a fleet operator […]
DAS praises response to After-the-event test case
by Gill Montia
Story link: DAS praises response to After-the-event test case
DAS, the legal expenses insurance company, has praised defendant liability insurers for their “much-improved stance in both settling cases and paying ATE (After-the-Event) insurance premiums”.
It is one year since the Court of Appeal upheld DAS’s test case of the 80e staged premium model and in that time, “improvements in claims settlement times and ATE premium […]
Bond insurers look to reserves as Moody’s warns of shortfall
by Gill Montia
Story link: Bond insurers look to reserves as Moody’s warns of shortfall
MBIA, the bond insurer, has reported that it intends to increase its cash reserves.
The move follows a warning from Moody’s, the credit ratings agency, which has described the financial guarantor as “somewhat likely” to run short of funds.
The company is now “pursuing capital contingency plans”, which could include curtailing new underwriting and an issue […]
Heath Lambert launches thermal insulation contractors’ cover
by Gill Montia
Story link: Heath Lambert launches thermal insulation contractors’ cover
Heath Lambert, the independent insurance and reinsurance broker, has launched a new commercial insurance package aimed at companies that are members of the Thermal Insulation Contractors Association (TICA).
TICA Insurance Solutions offers TICA members exclusive access to cover for employer’s, public, products’ and environmental impairment liabilities, and contractors all risks.
The TICA is the “parent” association of […]
Abbey Protection Floats On AIM
by Stewart Douglas
Story link: Abbey Protection Floats On AIM
Professional insurance specialist Abbey Protection plc has today begun trading on the Alternative Investment Market (AIM), in a move that will see its shares openly traded to ensure steady cash flow and improve capitalisation capacity at the firm, with a view to funding long term growth projects.
The group focus mainly on the provision of legal […]
Catlin Announces Forecast Writedowns
by Stewart Douglas
Story link: Catlin Announces Forecast Writedowns
Insurer Catlin has today announced its expectations of a writedown totalling $75 million in recognition of losses it sustained against sub-prime linked securities, most of which value was eradicated during the sector collapse of the early summer months.
The group said that it had managed to offload a proportion of its sub-prime debt, although it did […]
The Broker Network and Towergate In Takeover Agreement
by Stewart Douglas
Story link: The Broker Network and Towergate In Takeover Agreement
Intermediary group The Broker Network has today received and accepted a takeover approach by Towergate for its business and assets, valuing the company at just under £100 million, as the company looks to expand its reach through its aggressive programme of targeted acquisitions.
The announcement today was made to the London Stock Exchange, to the effect […]
The Insurance Partnership Continues Expansion
by Stewart Douglas
Story link: The Insurance Partnership Continues Expansion
The Insurance Partnership has today announced it has appointed a new commercial account executive in the form of Mike Ratcliffe in the latest of several high profile appointments at the insurance firm.
The Insurance Partnership, having undergone an extensive programme of expansion over the last few years, have announced today that Chartered Insurance Institute associate Mike […]
JLT Announced Share Buyback
by Stewart Douglas
Story link: JLT Announced Share Buyback
Insurer JLT has today announced it is looking to buy back capital equity to the value of £40 million, as part of a wider share buy back strategy designed to manage the capital makeup of the firm with a view to funding future strategic investment moves.
The news comes following several other similar moves by insurance […]
RK Harrison Buys IRC Europe
by Stewart Douglas
Story link: RK Harrison Buys IRC Europe
R K Harrison Holdings have today announced they have succeeded in their bid to acquire insurance group Indemnity & Risk Management and their held subsidiary International Risk Consultants (Europe) in a move that will see the group extend its reach into diverse insurance markets.
R K Harrison Holdings, parent of brokers R K Harrison Insurance has […]
London & European And Zurich Extend Partnership
by Stewart Douglas
Story link: London & European And Zurich Extend Partnership
Insurance company London & European has today unveiled that their binding agreement with insurance company Zurich has been extended at the instance of Zurich to continue to provide mutual support services between the two firms.
The agreement between the two companies has seen Zurich underwriting on London & European’s titlesolv.com, which deals in indemnity policies for […]
