Latest News – Page 682
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NewsChannel Syndicate appoints new head of technology and cyber insurance
Tom Allen has joined Lloyd’s managing agency Channel Syndicate’s new innovation division as head of technology and cyber insurance. Channel, a subsidiary of Lloyd’s reinsurer SCOR, said the innovation division will look at new technologies and emerging risks, including cyber. Allen worked as a lawyer before ...
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NewsUK firms to face increased cyber regulations even with Brexit
UK companies will still have to comply with new EU regulations regarding data breaches irrespective of the outcome of the referendum vote today, leading cyber risk experts at Beazley’s Hacked! Conference said earlier this week. Interest in cyber protection among UK businesses has risen sharply with ...
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NewsSouth East and London hit by flash floods
The South East and London have been hit by flash floods after a month’s rain fell in a few hours this morning. Red immediate action warnings are in place for areas of Essex and the capital. Flooded streets were reported across the capital, with Bexley getting ...
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NewsMarsh and Gallagher plot UK acquisitions
Much of the recent talk about UK SME broker mergers and acquisitions has been dominated by the new consolidators such as GRP and PIB. But it should not be forgotten that there are much bigger beasts in the market that also have a strong appetite for ...
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NewsChubb's European high net worth head to depart
Chubb Europe’s head of personal lines Simon Mobey is leaving the company. He will be replaced by UK and Ireland distribution head Jeremy Miles who has been promoted to the role of senior vice president, personal risk services, Europe. In his new role Miles will be ...
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NewsHDI plots Scottish expansion with Glasgow branch
HDI Global is planning to open an office in Glasgow. The insurer said it wanted to strengthen its regional footprint by establishing a presence in Scotland. It already has offices in London, Birmingham and Manchester. As a result of the move HDI has hired Paul McGhee ...
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NewsLiberty Insurance to cut 70 jobs
Liberty Insurance, the Irish subsidiary of Liberty Mutual Insurance Group, will cut 70 jobs following market instability, claims increase and excess capacity for commercial liability insurance. Most of the job cuts will come from the commercial insurance and bank office functions in the Cavan and Dublin ...
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NewsAon UK appoints long-serving Marsh exec to board
Aon UK Ltd has appointed former Marsh executive John Nicholson as a non-executive director. Aon UK Ltd is Aon’s main regulated entity in the UK, and includes the global broking group’s UK risk management, insurance and reinsurance businesses. Nicholson worked at Marsh for 18 years between ...
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NewsAllianz to start warning brokers about client underinsurance
Allianz UK is planning to start warning brokers when it thinks small business clients are potentially underinsured from next month, SME and corporate partnerships director David Martin. The move comes amid growing concerns about underinsurance at small to medium-sized enterprises (SMEs). Speaking at the inaugural Insurance ...
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NewsSwinton closes Leek branch
Broking group Swinton closed its branch in Leek, Staffordshire on 18 June. The Leek Post & Times reported that the broker’s Leek branch clients will now be served by its Hanley branch. The paper quoted a letter to customers from Swinton distribution director Richard Beaven, which ...
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NewsTowergate hires Microsoft to help with IT overhaul
Towergate has hired Microsoft as a provider of cloud-based computing as it continues to overhaul its IT systems. The broking group will use Microsoft’s Azure cloud computing platform for its data centres and staff computing will be based on Microsoft’s Windows 10, Office365 and Skype for ...
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NewsDigital Risks partners with Aviva for combined commercial cover
Digital Risks, the new digital-first broker for technology and media businesses, has announced a partnership with Aviva to launch its combined commercial product. Designed to meet the needs of fast-growth and digitally-focused start-up and SME businesses, the product is sold as a monthly subscription, rather than ...
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NewsMarsh’s Weil: SME broking needs to change
Simply finding the right price for clients will no longer be good enough to thrive as an SME broker, according to Marsh UK and Ireland chief executive Mark Weil. In his keynote speech at the inaugural Insurance Times Insuring SMEs event in London yesterday, Weil also ...
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NewsMan sentenced for lying about documents in £300,000 insurance claim
A 61-year-old man has been sentenced to 12 months’ imprisonment, suspended for two years, after using fake invoices in a £300,000 insurance claim. Richard William Kirkup Lewis from South Wales pleaded guilty to fraud by false representation and was sentenced at Swansea Crown Court on Friday ...
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NewsBroker Network plots acquisitions
Broker Network is planning to acquire brokers, according to market sources. The network is close to completing a deal which means that Towergate will retain 19.9% of Broker Network’s shares. Towergate, which is selling a majority stake in Broker Network to Highbridge for £46m, has put ...
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NewsTravelers enters direct channel with cover for small businesses
Travelers Europe has launched a direct SME proposition for small businesses in the UK with fewer than 10 employees and less than £2.5m in revenues. Key points: Offering is Travelers’ first big entry into direct channel UK Move made in response to growing SME ...
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NewsAXA Global unveils new five-year plan
AXA Global has revealed its Ambition 2020 strategy. The new five-year plan centres around two strategic priorities: focus and transform. Key points: First priority is continued focus on selective growth, cost efficiencies and technical margin improvement Insurer wants to grow in commercial lines AXA ...
