Latest News – Page 671
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NewsMarsh and Chaucer do first deal on new London market platform
Marsh and Chaucer have bound the first risk on PPL, the London market’s newly launched electronic placement system, yesterday morning. Marsh was the broker for the standalone terrorism risk bound on the platform, and Chaucer the underwriter. PPL went live yesterday for standalone terrorism risks – ...
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NewsBrexit could mean end for gender pricing ban – report
Insurers are hoping that the UK’s decision to leave the European Union will mean an end for the ban on basing premiums on a customer’s gender, the Telegraph reports. Since 21 December 2012, the EU Gender Directive has required that insurers offer gender-neutral pricing, which has ...
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NewsHyperion’s DUAL looks to XL Catlin for new UK chief executive
Hyperion-owned underwriting agency DUAL has hired former XL Catlin executive Richard Clapham as UK chief executive and regional chief executive of DUAL Europe. Clapham will take up his new job on 5 September and report to DUAL International chief executive Talbir Bains. He will be based ...
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NewsBrightside replaces lost Markerstudy capacity with two deals
Brightside said it has fully replaced its lost Markerstudy capacity by signing new deals with Covéa Insurance and another insurer, which it declined to name. The broking group is also planning to sign up more insurers in the coming months. Markerstudy, one of Brightside’s main capacity ...
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NewsHowden UK chief operating officer departs
Howden UK Group’s chief operating officer Stephen Reid has left the company, Insurance Times has learned. A spokeswoman for parent group Hyperion confirmed Reid’s departure and said that the company wished him well. Reid joined Howden UK as chief operating officer in June 2014. He had ...
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NewsInsurers ‘leading charge’ on Women in Finance Charter
Fifteen companies from the insurance industry have signed up to the government’s new Women in Finance charter, unveiled today. This means that the insurance industry is “leading the charge” for gender diversity, the Treasury said in a statement announcing the charter. The list includes big-name insurers ...
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NewsGovernment launches automated car insurance consultation
The government has launched a consultation on rule changes that will pave the way for automated cars to be used on the country’s roads. Under the proposals, rules will be changed so automated vehicles can be insured for road use. The Highway Code and regulations will ...
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NewsAIG rolls out second work experience scheme to attract inner city youths
AIG is rolling out its second work experience programme for inner city students today. The insurer wants to attract more young people to the insurance industry by giving them first-hand exposure of what it is like to work in risk and insurance. Thirty students from four ...
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NewsAviva tackles SME underinsurance in campaign to improve customer trust
Aviva is planning to remove an industry-standard clause from its policy wordings that reduces claims payouts in cases of underinsurance as part of a campaign to improve trust in insurance. Average clauses cut claims payouts if the client is underinsured. The cut is directly proportionate to ...
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NewsLondon market electronic placing platform goes live
PPL, an electronic placement platform for the whole London market, has started trading today. Brokers and underwriters are now exchanging information on standalone terrorism risks, the first class of business to go live on PPL. Electronic placement of risks has long been an aim of the ...
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NewsComparethemarket owner listing could value firm at £2bn - reports
The stock market listing that Comparethemarket owner BGL, is exploring, could value to company at more than £2bn, according to reports. An exact date for the listing has not been confirmed, but it is thought to be taking place in the first quarter of 2017. BGL ...
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NewsMunich Re outgoing boss eyes return after cooling off period
Munich Re’s outgoing chief executive, Nikolaus von Bomhard could return to the German reinsurance group as chairman in 2019 once his cooling-off period is over. Von Bomhard said: “I have pretty much 11 months to go and I’m at full speed and I’m not retrenching anywhere ...
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NewsArron Banks 'not ruling out' leadership bid for UKIP
Arron Banks has not ruled out plans to launch a leadership bid to head up UKIP following the resignation of Nigel Farage. Speaking on BBC One’s Andrew Marr Show, Banks also vowed to spend £10m to fight Theresa May at the 2020 general election if she ...
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NewsDriverless cars will need cover against cyber attacks - AXA
Driverless cars will need insurance to protect against cyber-attacks, AXA Insurance technical director David Williams has said. Motorists using driverless cars may have to insure themselves against the risk of hackers remotely stealing their vehicles or taking control of them and then demanding ransom payments. A ...
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NewsPremiums rise 19.2% amid soaring car repair costs
Car insurance premiums rose by 19.2% in the second quarter of 2016 compared to Q2 2015, according to the latest Confused.com/Willis Towers Watson car insurance price index - the biggest annual rise recorded by the Index since 2011. This latest increase means that the average comprehensive ...
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NewsHemming: Aviva revamped SME products to clear up confusion
Aviva’s plan to tackle SME underinsurance and improve customer confidence in insurance will also give it a competitive edge in the market, according to Aviva SME commercial lines director Gareth Hemming. The insurer announced today that is was planning to remove average policy wordings that cut claims ...
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NewsSix appear in court on DAS fraud charges
Six defendants appeared in court hearing today charged with defrauding legal expenses insurer DAS. The defendants included former DAS chief executive Paul Asplin. The other five defendants in the case are Karen Asplin, Robert John Dalley, Sally Ann Jones, Jayne Kearns and David Mark Kearns. Karen ...
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NewsBiba scoops two awards for website and manifesto
Biba has won the Best Publication of the Year Award for its Manifesto and the Website of the Year Award at the Trade Association Forum Best Practice Awards. Biba’s annual manifesto which is launched to the market in January sets out its campaigning agenda for the ...
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NewsTravel insurer offering 'all possible help' to Disneyworld cancer patient
The travel insurer blamed for stranding a terminally ill woman in Florida said it has offered “all possible assistance” to help her get home. Cancer patient Lindsey Gates, 40, broke her leg during a trip to Disneyworld Florida with her family (pictured). Doctors found her cancer ...
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NewsBluefin buys former network member Osbornes
Bluefin has bought former Bluefin Network member Osbornes Insurance Oxford for an undisclosed sum. The broking group said the acquisition of the Thame-based company would add a “significant” commercial broking office to its presence in the Oxford area. Bluefin has retained all Osbornes staff and Osbornes ...
