What are the big stories hitting the headlines this week?
RSA personal motor claims director Ian Thompson has quit after 19 years at the firm. Technical claims director Ian Currie will take over his role as motor and injury claims director.
Amlin has restructured its senior management. Simon Beale has been made group chief underwriting officer, Andreas Luberichs will become executive president, non-marine, of European Insurance and Bert Nelen, formerly of the Ace European Group, has joined Amlin Corporate Insurance as its new executive president for marine.
The Law Society is seeking industry-wide support for its solicitors’ professional indemnity (PI) insurance composite proposal form. The proposal has yet to be widely accepted, but The Law Society claims to have support from three big PI insurers.
Ernst & Young has predicted that the UK motor insurance market will remain unprofitable in 2012 and 2013. It also predicts greater private equity involvement and claims Gibraltar’s days of outperforming the UK and Lloyd’s are numbered. It says the industry’s net COR in 2011 was 105.5%.