In brief

Not trailing behind
Equestrian Underwriting Agencies (EAUL) has launched a trailer and breakdown insurance package that combines insurance for the box and the towing vehicles together.

The policy, underwritten by Ecclesiastical and Capita, covers against loss or damage, liability and breakdown.

If the usual towing vehicle is registered with EAUL, the breakdown cover will also apply while it is not towing. And if a breakdown occurs, the company will provide an alternative horsebox.

Political risk cover
FM Global is offering political risk insurance against unforeseen political events or the actions of foreign governments.

It is providing the cover in partnership with Unistrat Corporation of America, which specialises in political risk solutions.

The cover will protect assests such as private investments, import and export operations and international development projects from risks including civil unrest, breach of contract and confiscation of property.

Capacity to grow for 2020
Wellington Underwriting Agencies, the managing agency subsidiary of Wellington Underwriting, intends to increase capacity for syndicate 2020 by 28% for 2002, subject to Lloyd's approval.

The current underwriting capacity for syndicate 2020 is £500m and is accordingly expected to be £640m for 2001.

Lowest road death figures on record
THE number of deaths on Britain's roads fell to a record low last year, despite an 11% increase in the number of people riding motorcycles.

There were 3,409 people killed on the roads in 2000, 14 fewer than in 1999 and the lowest since records began in 1926.

The figures, released by the Department for Transport, Local Government and the Regions, also showed that 605 motorcyclists were killed and 6,769 seriously injured.

The number of motorcycles on the roads fell by 4%.

Good news for coach market
BAYLISS and Cooke has taken over the Coachline scheme, following Norwich Union's exit from the coach insurance market.

Crowe syndicate 963 has agreed to continue Coachline with a similar underwriting strategy, rating structure and product range to that formerly offered by Norwich Union for non-fleet rated risks.

David Williams, managing director of Bayliss and Cooke, said the intervention was good news for the coach insurance market.

Restructuring at IUA
THE International Underwriting Association (IUA) has appointed Stephen Cane, chief executive officer of Alea London, as its new chairman.

It also decided to restructure the responsibilities of chairman and deputy chairman to clarify their workload at a strategy “away day” last week.

Stephen Riley, managing director of CNA Re, was also elected as a deputy chairman at the meeting.

Tony Medniuk, group chief executive of Global Aerospace Underwriting Managers, and Tony Latham, group director of global relationships at Royal & Sun-alliance are already deputies.

Broker jobs lost in Devon
BROKERAGE Stafford Knight Insurance Services, part of the Towergate Underwriting Group, has shed 27 staff after closing its Okehampton branch in Devon.

The business at the office will be transferred to other offices within the group.

Paul Dyer, marketing manager for Towergate, said the Okehampton arm had been closed due to a duplication of resources.

Some staff have been given the option to relocate to other offices.

Stafford Knight Insurance Services sells a range of insurance products, including public liability, property, personal accident and household.

Support for Axa chiefs
AXA is backing its founder Claude Bebear and chief executive Henri de Castries, who were both placed under investigation in a money laundering probe.

They are being questioned about the accounts of Pan Eurolife, acquired by Axa when it bought French rival UAP in 1997.

Axa said in a statement: “The supervisory board unanimously expresses its total confidence and support for Claude Bebear and Henri de Castries. It notes that the judicial ruling concerning them does not prevent them in any way from carrying out all of their responsibilities in France and abroad.”