Latest News – Page 2017
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News
Flood benefit call for low income households
The government should extend housing benefit to cover flood risk, a leading industry expert has warned.Professor David Crichton, visiting professor at Benfield UCL Hazard Research Centre, said that flood risk posed the greatest threat to low income households, and urged the insurance industry to put pres-sure on the government ...
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Claimsense future in doubt
The future of Claimsense, the claims resolution company, is in doubt after the defection of its technology and claims partner Elision to InterResolve. The news comes less than one year after the company was founded by AXA and Russell Jones & Walker (RJW).Adrian Maurice, chief executive of Elision said ...
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FSA warns Scottish brokers over trusts
FSA urges brokers to take legal advise over legality of non-statutory trust accounts
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Imarket transactions rocket
Imarket transactions have rocketed by 44% in just a month as new insurers join and an increasing number of products populate the electronic trading portal, the company behind the system has claimed.Transactions have risen from 30,000 in February to 43,000 for March, signalling Imarket's increasing popularity among brokers, according to ...
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Sirius buy will make SSP No 1
SSP is to acquire Sirius in a deal that will create a software house bigger than market leader Open GI.The combined enlarged group will have a turnover of roughly £64m, of which around 11% would be overseas business. This compares to Open GI's £33.5m turnover.The Aim listed companies will trade ...
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Agreement reached on medical agency fees
Medical reporting organisations and insurers have reached an agreement that should put an end to disagreements about the recoverability of medial agency fees...
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Product recall threat to wine sales
Aon's soon-to-be released report entitled ‘Vine to Wine' underscores the growing importance for businesses to take up product recall insurance.
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NU targets top 10 with HSBC venture
HSBC Bank and Aviva have announced plans for the creation of a joint venture, under the "HSBC Insurance" brand, that aims to be a top-10 player in the UK general insurance industry. Under the terms of the planned joint venture, HSBC Bank and Norwich Union Insurance, the UK general ...
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Insurers must invest in fraud detection technology
Aron Thompson, head of insurance at uSwitch.com, has urged insurers to invest heavily in new technology to investigate fraud effectively...
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Provident sells motor business for £170m
Provident Financial has confirmed the sale of its motor insurance business to a subsidiary of GMAC Insurance...
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DRI data recovery launch
The DRI Group has launched an insurance-backed data recovery package for desktop computer and laptop users with two further products out before the summer.The company claims the product, underwritten by AXA, is the first of its kind. DRI Group said it was aimed at the commercial and personal lines markets. ...
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Aviation broker targets expansion
Lloyd's broker Norman Butcher & Jones (NBJ) is seeking to hire teams to expand its business beyond its core aviation practice. The Lloyd's broker said it was now looking to target all lines of business including wholesale and reinsurance. The news came as the NBJ Group reported profits for 2006 ...
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Insurers warn employers on rising workplace deaths
Insurers have warned that smaller construction companies must tighten up their safety records, or face the threat of higher premiums. This follows the release of a study by construction union, Ucatt, which said that deaths on construction sites had risen by 25% over the past year to a total ...
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Hibernian appoints group strategic marketing director
Hibernian group has appointed Paul Kelly to the new role of group strategic marketing director...
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Heritage considering syndicate merger
Heritage Managing Agency is considering a potential merger of Syndicate 1200 (Worldwide property) and 3245 (non US liability), both of which are managed by Heritage. Syndicate 1200 has capacity for 2007 of £260m which is owned 48% by Heritage and 3245 has capacity for 2007 of £55m 27% owned by ...
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Snowball leaves Aviva board
Aviva confirms that Patrick Snowball has resigned as a director of Aviva as of 8 May...
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Carvill adds AIR to hurricane index
Carvill, has reached an agreement with AIR Worldwide Corporation, to provide modelled support for the Carvill Hurricane Index...
