What are the stories hitting the headlines this week?
Spend
Towergate continued its buying spree, snapping up three regional brokers: Gill Knott Insurance, based in Somerset, Lloyd Manley Associates, based in Chesterfield, and West Yorkshire-based Airevalley Insurance Services.
Loan
Marsh has given Lloyd’s of London the original insurance slip for the RMS Carpathia, the ship that rescued more than 700 survivors from the RMS Titanic 100 years ago. The document will be kept on permanent loan as part of the Lloyd’s Collection.
Problem
Detected insurance fraud rose 23% in 2011 according to a new index published by Experian, with the financially stressed segments of society blamed for heightened levels of application fraud.
Offer
Groupama’s Spanish unit has received a bid from insurer Grupo Catalana Occidente. Groupama is said to be seeking between €300m and €400m for the business after Eurozone debt pushed it into a €1.8bn loss in 2011.
Wash-out
Water companies have been pushing expensive supply pipe insurance despite offering free pipe repairs, according to a report by consumer watchdog Which?
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