Latest News – Page 2061
-
Online only
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...
-
Online only
Provident sells motor business for £170m
Provident Financial has confirmed the sale of its motor insurance business to a subsidiary of GMAC Insurance...
-
News
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. ...
-
News
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 ...
-
News
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 ...
-
Online only
Hibernian appoints group strategic marketing director
Hibernian group has appointed Paul Kelly to the new role of group strategic marketing director...
-
Online only
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 ...
-
Online only
Snowball leaves Aviva board
Aviva confirms that Patrick Snowball has resigned as a director of Aviva as of 8 May...
-
Online only
Carvill adds AIR to hurricane index
Carvill, has reached an agreement with AIR Worldwide Corporation, to provide modelled support for the Carvill Hurricane Index...
-
Online only
Munich Re buys Bell & Clements Group
Munich Reinsurance has bought the Bell & Clements Group for an undisclosed amount...
-
Online only
FSA must hit hard to ensure TCF standards
Which? magazine has urged the Financial Services Authority to come down hard on those companies failing to implement adequate Treating Customers Fairly provisions, following the release of the FSA's report into the progress made by financial companies in implementing processes for TCF. Dominic Lindley, personal finance campaigner, Which?, said: “The ...
-
Online only
Fraud costing insurers £1.6bn per year, says ABI
Insurance companies are being hit by up to £4m per day as a result of fraudulent claims, according to the latest research conducted by the Association of British Insurers. The ABI study reveals that fraud is costing the insurance industry a massive £1.6bn per year, resulting in an increase of ...
-
Online only
Emerging risks impeding business development says Lloyd's
Increased concerns at board level regarding terrorism and political violence risk is causing businesses to avoid investing in politically sensitive areas or locating offices in large cities, according to Lloyd's.In a new report Lloyd's reveals that over a third of companies avoid investing in overseas markets for fear of political ...
-
Online only
Travelers buys Lloyd's marine insurer
Travelers has purchased Galatea Underwriting Agencies, a specialist Lloyd's marine underwriting agency. Galatea is in its eighth year of operation, and specialises in protecting companies and individuals who service the shipping, transport and both offshore gas and oil industries. Travelers said Galatea "complements and enhances the current Lloyd's marine activities ...
-
Online only
Cooper Gay says Sonae financing will fuel acquisitions
Cooper Gay is expected to expand its presence in the UK market, with further acquisitions likely, following investment from Sonae SGPS. SC Insurance and Risk Services SGPS, SA, a subsidiary of Portuguese investor Sonae SGPS, has agreed to acquire 14% of Cooper Gay, with an option to increase its ...
-
Online only
Biba welcomes TCF report from FSA
Biba has welcomed the FSA's report published today which shows that many firms have made good progress with their treating customers fairly programmes. The FSA had set firms the target of having at least reached the implementation stage of their TCF work in a substantial part of their business by ...
-
Online only
New UK and Ireland manager joins Chubb from AIG
Chubb names Woolard as regional manager of Chubb Specialty
-
Online only
Risk managers respond to latest climate change report
Climate change will grow in importance for risk managers as the fight against global warming intensifies following the latest report of the Intergovernmental Panel on Climate Change (IPCC), according to Marie-Gemma Dequae, president of the Federation of European Risk Management Associations (FERMA). “As companies implement technologies and practices to respond ...
