Latest News – Page 676
-
NewsPen Underwriting creates cyber lead role as it plots to expand offering
Pen Underwriting has appointed Adrian Scott to the newly created role of head of cyber liability. In his new role Scott will be responsible for developing Pen Underwriting’s capabilities in cyber risk management and insurance. He joins Pen from Ridge Global, a cybersecurity firm founded and ...
-
NewsSupreme Court ruling is setback in fight against fraudulent claims - ABI
The ABI has warned that a Supreme Court decision which ruled that insurers can no longer avoid paying a claim if there are so-called collateral lies in the claim will push up the cost of insurance. Earlier today judges voted four to one to change the ...
-
NewsMarsh hires Carlisle and Newcastle branch manager from Aon
Marsh has hired Chris Milnes to head up its Carlisle and Newcastle offices. Milnes joins Marsh from Aon in Dubai where he led the corporate sales team and was responsible for the new business development across the Middle East. In his new role, Milnes will be ...
-
NewsSupreme Court: Insurers cannot avoid claims over 'collateral lies'
Insurers can no longer avoid paying a claim if there are so-called collateral lies in the claim, the Supreme Court has ruled today. A collateral lie is one that does not affect the validity of the claim. The Supreme Court judges voted four to one to ...
-
NewsFCA to publish proposed new mission statement in autumn
The FCA is planning to publish proposal for a new mission statement in early autumn. It will invite “intensive public consultation” on the new mission, which is designed to provide greater clarity to consumers and companies about the regulator’s obligations to them. The FCA believes it ...
-
NewsFCA’s Bailey: Brexit will not trigger regulatory ‘bonfire’
The UK’s exit from the European Union will not necessarily mean a big clear-out of EU-derived legislation, new FCA chief executive Andrew Bailey said. Responding to a question about the potential for deregulation post-Brexit at the FCA’s annual public meeting yesterday, Bailey said: “It is important ...
-
NewsInsurers unprepared for driverless vehicles - KPMG
Insurers are unprepared for the arrival of driverless vehicles, a new study from KPMG says. The Autonomous Vehicle Insurer report found that many of the UK’s largest insurance companies agreed that driverless vehicles would touch every area of their business model. Key points: But ...
-
-
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 ...
-
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 ...
-
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, ...
-
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 ...
-
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. ...
-
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 ...
-
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. ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
