Latest News – Page 669
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NewsAccountant faces jail after stealing £24,000 from Biba
An accountant has pleaded guilty to stealing more than £24,000 from Biba, and could face jail. Gurmukh Singh Shehri, 32, signed cheques to himself and paid himself unauthorised bonuses while employed as Biba’s finance manager. He paid himself £11,000 in unapproved bonuses and wrote £13,198 in ...
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NewsAXA creates new role as part of claims transformation programme
AXA Insurance has appointed Kim Pearce to the newly created role of claims customer services director as part of its ongoing Claims Transformation Programme. Pearce joins from Allianz where she was head of organisational management. In her new role Pearce will be responsible for the operational ...
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NewsCharles Taylor licenses insurance platform to boost client service
Charles Taylor InsureTech, the insurance technology arm of insurance services firm Charles Taylor, has licenced software provider Fadata’s INSIS platform to extend its systems capability for life, general and health insurance clients. INSIS is a flexible insurance platform that provides coverage such as underwriting, premium collection, ...
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NewsHood appoints finance director
Affinity insurance broker Hood Group has appointed Mark Hunter as finance director following the retirement of Bob Gildie. Hunter (pictured) will join from Charles Taylor Adjusting where he served as development director for two years. He has nearly 30 years’ experience from Airclaims Group where he ...
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NewsTokio Marine Kiln launches online platform for specialist business lines
Lloyd’s insurer Tokio Marine Kiln (TMK) has launched a web-based platform to give brokers access to specialist business lines that have traditionally been difficult and uneconomic to reach. The One TMK is a digital exchange for brokers to quote and bind policies online in real time. ...
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NewsBarbican hires divisional head of energy, power and utilities
Barbican Insurance Group has announced that Olivier Decombes will join as divisional head of energy, power and utilities. Decombes was previously CV Starr chief underwriting manager for offshore energy. He also has experience from Infrastructure where he rose to the position of upstream and ...
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NewsInsurance provider launches last-minute travel cover service at UK airports
Travel insurence provider Columbus Direct is rolling out 30 self-service kiosks at nine UK airports this summer to offer last-minute travel cover to uninsured holiday goers. Airports London City, Luton, Newcastle, Birmingham, Bristol, East Midlands, Southhampton and Edinburgh and London Gatwick Airport will offer the service. ...
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NewsConsumers bombarded with 600 million CMC nuisance calls in 2015
Consumers were bombarded with more than 600 million personal injury-related nuisance calls last year, and a further 117 million injury-related nuisance texts, according to research using Ofcom data commissioned by Aviva. This translates to 1.96m calls and texts made every day, or 1,366 calls and texts ...
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NewsGable shares rise as trading resumes on Stock Exchange
Gable shares resumed trading on the London Stock Exchange this morning, after the company’s self-imposed suspension was lifted. In early trading, Gable shares recovered to 350 pence, up from 338 at the time of their suspension on 1 July. Gable said that following the release of ...
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NewsR&Q buys run-off reinsurer for $1.4m
Randall & Quilter said it has bought Agency Program Insurance Co, a Bermuda-based reinsurer now in run-off for $1.4m (£1.1m). APIC reinsures SPARTA, Discover, Nova Casualty, Hartford Insurance, AmTrust International, Wesco Insurance, PMA and Arch Insurance for workers compensation, general, commercial auto, inland marine, property and ...
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NewsBluefin Network teams up with MGA for niche motor and home products
Broker network Bluefin Network has teamed up with managing general agent Jackson Lee Underwriting to offer four niche insurance products to its members. The deal covers guaranteed asset protection (GPA), excess protection, learner driver and landlord’s home emergency cover. The brokers access the products through a ...
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NewsGable’s Dewsall paid £440k bonus despite £24.3m loss
Gable chief executive William Dewsall was paid his full performance-related bonus of £440,000 in 2015 despite his company making a £24.3m pre-tax loss that year. But the company said in its annual report that it is now reviewing whether the bonus provisions in Dewsall’s contract are ...
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NewsAmTrust buys legal expenses MGA Arc Legal
Insurer AmTrust International has bought legal expenses underwriting agency Arc Legal Assistance for an undisclosed sum. Arc Legal manages more than 14 million legal expenses insurance (LEI) policies covering personal, motor, commercial, affinity, property owners, travel and leisure risks. The agency distributes products in partnership with ...
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NewsTech & Innovation Awards finalists on challenges and successes they have faced
As the insurance market becomes increasingly digitised established firms find themselves trying to keep up with the pace of customer demand, while disrupters rush into the market. In the run-up to this year’s Tech and Innovation Awards our shortlist of finalists presented their submissions in front ...
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NewsTech & Innovation Awards finalists tell their inspiring stories
The finalists for this year’s Tech and Innovation Awards presented their submissions in front of a panel of expert judges on Wednesday. The Insurance Times editorial team was at the scene to talk to some of the shortlisted candidates about why they entered the Awards and ...
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NewsGable stops writing new business as capital falls below requirements
Gable has stopped writing new business as part of its plan to bring the company up to Solvency II compliance. The company also admitted in its results this morning that its regulatory funds had fallen below the required level. Gable said that it had instructed its ...
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NewsIFB celebrates 10th anniversary
The Insurance Fraud Bureau (IFB) celebrated its 10th anniversary with an evening reception in London yesterday. Over 140 guests, including former board members, key stakeholders and staff gathered at Stationers Hall on Ave Maria Lane to celebrate a decade of achievement. The IFB, which is currently ...
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Online onlyEndurance reveals loss estimates from string of natural disasters
Endurance today revealed it had estimated losses of $55.5m from a string of natural disasters. The second quarter hit would be due to the Fort McMurray wildfires in Canada, the convective storms in Texas and Europe and the Kumamoto earthquake in Japan which collectively generated ...
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Online onlyBrightside owner latest to warn about damage of Brexit
The chief executive of Anacap, the Brightside owner, said he may need to relocate his staff because of Brexit. Joe Giannamore, chief executive of UK-based fund AnaCap, told Reuters that if the British market diminished in the long-term then it could move out some of ...
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