Stable rating for Germany
Stable rating for Germany
Moody's investors service has upgraded its outlook for the German general insurance industry from negative to stable.
The ratings agency said the move was based on its belief that the German insurance market had sufficient financial strength to withstand current “tumultuous” changes affecting the industry, such as tax reforms.
B'ham council has to pay
A former highways superintendent has successfully sued Birmingham City Council for £150,000, for injuries he suffered from walking on molten tar.
David Bradbury brought a negligence claim against the council after it allegedly withdrew standard issue safety boots.
Cider makers to claim £1m
Insurers could face a £1m claim from British cider producers after it was reported that last winter's record rainfall has rotted thousands of apple trees.
Apple growers in Hertfordshire face the heaviest losses, with around 60,000 trees affected.
Convergence takes centre stage
THE Association of Insurance and Risk Managers (Airmic) is holding a conference on change and convergence at the Church House Conference Centre in London on October 5.
Key speakers include Anthony Hilton, city editor of the London Evening Standard, Gerry Salkin from the Centre for Quantitative Finance at Imperial College and Mike Northeast of Kuwait Petroleum.
New structure at Widows
Scottish Widows has restructured its international operations with the appointment of two senior managers.
Mike Smith, who has 25 years' experience with the group, has assumed the role of international business development director.
Deborah Moon has been recruited as technical manager for Scottish Widows International. She was formerly with HSBC Bank.
Well paid bump up claims
One in seven adults in the UK are prepared to exaggerate insurance claims, a new survey says.
The survey, by Insight Marketing, showed the biggest culprits were men with above-average household incomes. A quarter of those prepared to bump up their claims earned more than £40,000.
Director of Insight Marketing, David Anthony, said: “The survey revealed that those prepared to overclaim on their insurance do not do so because they need the money.
“In fact, they are on average well off, but are dissatisfied with what they have.”
From NU to NFU for Newton
Former director of corporate partnerships at Norwich Union (NU), Bob Newton (above), is joining NFU Mutual next month as general manager of its general insurance business.
Newton left NU in January.
Misys has sold the customer base of axed cybermediary Screentrade to the Swinton Group for “a hefty six-figure sum”.
Around 25,000 customers who had previously bought insurance through Screentrade will be contacted by Swinton in the next few weeks.
The move follows the sale of the Screentrade brand and domain names to Lloyds TSB Insurance Services at the end of last month.