Sothebys has agreed to pay the owner full compensation for the £150,000 Lucien Freud painting that was accidently crushed in a rubbish machine this week after a blunder by two porters. The painting was covered by Global Fine Art Insurance. However, details of how much the sketch was insured for has not been disclosed.
Longford Insurance Schemes, best known for its Chauffeurplan cover for motorists unable to drive their vehicles, is to launch an interactive website.
The site, on-line on May 15, aims to help brokers provide a better service by providing a question and answer facility for their clients on Longford's five mobility protection schemes. It can be found at www.chaufferplan.co.uk.
Training arm Thatcham for the Motor Insurance Repair Research Centre has launched a General Course Programme and Resource Guide. The guide includes technical, bodyshop management, conduct skills training and general business awareness. Others to be offered are TTS and Computerised Estimating and Imaging Procedures and Light Commercial Panel Repairs and Mechanical Updates.
Would you credit it?
Gerling Credit Insurance Group has launched Gerling Insurance Services to offer credit insurance programmes to multinational companies. The Global Trade Credit Policy consists of a master agreement, to regulate the general contractual conditions globally, and local policies that are adapted for the particular market of a subsidiary. It is available for companies with a turnover of more than £29.1m (EUR 50m), and with independent credit management in at least two countries.
Stolen cars hit milestone
Allianz Cornhill has reached a major milestone in its campaign against car crime after recovering more than 100 stolen vehicles and saving £1.5m. The savings can be directly attributed to the insurer's partnership with fleet operators and stolen vehicle recovery systems provider, the Tracker Network. Set up four years ago, the partnership seeks to encourage the installation of extra car security such as Tracker's vehicle recovery systems by offering a discount on motorists' premiums.
RSA's sales go APE
Royal & SunAlliance's sales of UK life, pensions and non-life investments grew by 76% in the first quarter compared to the same period in 1999. This was despite the impact of withdrawing from Tied Agency and Direct Sales in December 1999. Adjusting for the withdrawal, growth in continuing business was 99%. In annual premium equivalent (APE) terms, UK sales increased by 28% (57% on continuing business).
Desktop deal for Digica
Digica has clinched a three-year desktop £2m outsourcing contract with CNA Insurance. It will manage CNA's 300 desktops over ten locations and five countries across Europe. To do this it will use a combination of on-site support and remote management techniques. As well as providing desktop and server support, Digica is proactively developing a service improvement model designed to enhance the end-user service. Digica says the deal cut CNA's desktop management costs by as much as 30%.