Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 18th of October 2018
May 24, 2011

XL announces CFO departure

by Richard Kilner

Story link: XL announces CFO departure

XL Group plc has announced that Irene M. Esteves is to part ways with the firm, following a transition period, to take up a role with a non-insurance sector Fortune 150 Company. XL has stated that it will commence searching for a suitable replacement, and Chief Executive Officer Mike McGavick thanked Esteves for the contribution […]



Now Health International slashes premiums

by Gill Montia

Story link: Now Health International slashes premiums

Now Health International is cutting premiums and making improvements to its group discount structure in response to feedback from the intermediary market. Following negotiations with underwriter AXA, the worldwide medical insurance provider says it has reduced the cost of individual premiums by a minimum of 15% on WorldCare Excel and WorldCare Apex, its two most […]



Zurich appoints head of corporate communications

by Gill Montia

Story link: Zurich appoints head of corporate communications

Zurich Financial Services Group has announced the appointment of Angel Serna as global head of corporate communications, with effect from 1st July. The 45-year-old Mr Serna joined Zurich in 2006 as head of media relations, prior to which he worked for over 12 years as correspondent and business editor at the Swiss daily newspaper, Neue […]



Grímsvötn ash plume forecast

by Gill Montia

Story link: Grímsvötn ash plume forecast

In its latest volcanic ash update, the Met Office says Icelandic authorities are reporting ash continuing to be ejected from the eruption of Grímsvötn, to a height of 10km. The British Geological Survey has described the volcanic activity that began last weekend as a “significant eruption” and movement of the ash plume will depend on […]



Chaucer leads new Marsh charterer’s product

by Gill Montia

Story link: Chaucer leads new Marsh charterer’s product

Chaucer Syndicates has announced leadership of a new charterer’s default insurance product offered by Marsh, which includes specialist wordings developed by both parties. In the event of a financial default under the charter party, the insurance provides protection for the shipowner’s income, including provision for the impact of changes in spot charter rates. As the […]



May 23, 2011

ABI offers volcanic ash cloud guidance

by Richard Kilner

Story link: ABI offers volcanic ash cloud guidance

The Association of British Insurers (ABI) has released guidance relating to the eruption of Grimsvotn volcano in Iceland, which has sent substantial quantities of ash into the atmosphere. Travellers are advised to contact their airline, travel agent or airport for up to date information, and if a cancellation occurs then either a full refund or […]



Lloyds Banking Group makes brace of appointments

by Richard Kilner

Story link: Lloyds Banking Group makes brace of appointments

Lloyds Banking Group has announced a pair of senior insurance appointments, with Toby Strauss apppinted as group director of Insurance and Rosie Harris becomes MD of General Insurance. Strauss is presently UK Life chief executive officer for Aviva, prior to which he was chief operating officer for UK Life. Earlier in his career he worked […]



Willis Limited names new CEO and chairman

by Gill Montia

Story link: Willis Limited names new CEO and chairman

Willis Group’s UK broking company, Willis Limited, has appointed Brendan McManus as chief executive officer, in addition to his current role as chief executive officer, Willis UK & Ireland. At the same time, Rodney Baker-Bates becomes non-executive chairman of the firm, with both appointments subject to regulatory approval. Mr Baker-Bates and Mr McManus succeed Willis […]



Aviva makes senior UK Life appointments

by Gill Montia

Story link: Aviva makes senior UK Life appointments

Aviva has announced changes to its UK leadership team in response to the departure of Toby Strauss, chief executive officer, UK Life, who is leaving to take up a new role with Lloyds Banking Group. David Barral has been appointed as his replacement, reporting to Aviva’s UK chief executive officer, Mark Hodges. He will also […]



ABI promises speedier life insurance payouts

by Gill Montia

Story link: ABI promises speedier life insurance payouts

New guidance from the Association of British Insurers (ABI) should mean people receive life insurance payments more quickly after bereavement. The lengthy legal process associated with winding up a deceased person’s estate has left families typically waiting around four months to receive life insurance payouts. However, working with the Law Commission, the ABI has developed […]



Incahoot warns on cheap insurance

by Brian Turner

Story link: Incahoot warns on cheap insurance

According to a new survey commissioned by group-buying community incahoot.com, Britain’s obsession with cheap insurance has gone too far, leaving too many people without proper cover, say experts. The latest independent research reveals that in a bid to save money, three quarters of the nation now choose an insurance deal based purely on price. Yet […]



Awareness campaign launch ahead of motor insurance crackdown

by Gill Montia

Story link: Awareness campaign launch ahead of motor insurance crackdown

The Department for Transport has today launched a national awareness campaign warning motorists that from 20th June, it becomes an offence to keep an uninsured vehicle, rather than just to drive when uninsured. To make sure everyone is aware of change, adverts will be appearing on satellite and terrestrial TV channels. According to Road Safety […]



May 22, 2011

Britons positive on pension auto-enrolment

by Gill Montia

Story link: Britons positive on pension auto-enrolment

Britons are viewing government plans for auto-enrolment in workplace pension schemes as positive, according to the Aviva Family Finances Report. Research for the study reveals that 72% of UK family heads interviewed do not currently contribute to a workplace pension scheme, although nearly three-quarters of this group would be happy to join if their contributions […]



ISO expands technical support capabilities

by Gill Montia

Story link: ISO expands technical support capabilities

Insurance Services Office (ISO) says it has expanded its technical support capabilities in response to significant growth. According to the firm, its Claims Outcome Advisor (COA) is now the most widely used personal injury claims management system in the UK, necessitating three appointments to its technical support and customer service units. Jennifer Rees and Gail […]



Willis’s FINEX launches enhanced D&O cover

by Gill Montia

Story link: Willis’s FINEX launches enhanced D&O cover

Willis Group member, FINEX, has launched DARCSTAR, a new directors’ all risk policy which aims to eradicate indemnification uncertainties in Directors & Officers (D&O) insurance. Developed in association with a panel of insurers led by Allianz, DARCSTAR promises “broad and relevant” cover in an easy to understand policy that offers enhanced protection. FINEX executive director, […]



May 20, 2011

Munich Re’s ERGO admits to partying with prostitutes

by Gill Montia

Story link: Munich Re’s ERGO admits to partying with prostitutes

Munich Re subsidiary, ERGO, has responded to media reports that a sales event in 2007 involved the presence of prostitutes. ERGO Insurance Group has commented: “We confirm that several prostitutes attended one evening event during the multi-day trip to Budapest. “Further details are currently under examination. “This constitutes a grave violation of binding company guidelines, […]



Canopius Europe commences operations

by Richard Kilner

Story link: Canopius Europe commences operations

Specialist (re)insurance underwriter Canopius Group Limited has announced that Canopius Europe, its newest underwriting platform, has begun operations. The new platform is based in Zurich and will, initially, focus upon indigenous European treaty reinsurance business, underwriting on behalf of the firm’s Lloyd’s Syndicate 4444. Eric Gutiérrez is the chief executive officer of Canopius Europe and […]



BoE and FSA update of PRA approach to regulation

by Gill Montia

Story link: BoE and FSA update of PRA approach to regulation

In a joint paper, the Bank of England and the Financial Services Authority (FSA) have set out current thinking on how the future Prudential Regulation Authority (PRA) will approach the supervision of banks and building societies. The PRA will also be responsible for supervising insurance companies and a companion paper covering this aspect of its […]



May 19, 2011

Homecall Plus placed in administration

by Gill Montia

Story link: Homecall Plus placed in administration

Domestic emergencies call out firm, Homecall Plus, has been placed in administration, the BBC has reported. The Blackburn-based firm covers plumbing, heating, drainage and electrical failures, charging £126 per annum for its Rainbow policy, which offers unlimited call-outs and is excess free. According to the BBC, Homecall Plus policies underwritten by Brit Insurance will be […]



ABI calls for end to UK’s “pain in the neck” culture

by Gill Montia

Story link: ABI calls for end to UK’s “pain in the neck” culture

The Association of British Insurers (ABI) is calling for a clampdown on the “pain in the neck” culture which it says has made the UK the whiplash capital of Europe. With one in every 140 people claiming whiplash injuries a year, the ABI highlights the need for action as follows: Nearly 1,200 whiplash claims are […]