Lloyd's of London News – Page 110
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News
Defence case begins in Independent trial
Former Independent boss Michael Bright started his defence in tears as he told of his personal losses when the insurance company he founded spectacularly collapsed.Bright claimed he did not keep information from his reinsurers and did not know that some claims were being deliberately under-reserved to balance the books. He ...
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NewsInsurer ratings hold despite hostile events
?The European insurance industry continued to enjoy ratings stability and good results in the first half of 2007 despite the global credit crunch and weather-related catastrophes, according to Moody’s.But the ratings agency warned that while the operating environment should remain generally supportive to rating stability in the short term, external ...
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Online onlyMarsh to work with leading diamond broker
Broker to provide risk advice for worldwide precious stones trade
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C-ZoneUnacceptable delay
William Jones explains how important it is for insurers to validate claims within a set time, or they could face a breach of policy terms
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C-Zone
Increasing the fire risk
Mark Dunham warns warehouse operators about the effects a change in working practices can have on fire safety
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Comments/LettersPrepare for investor action
Anthony Hilton says Lloyd’s insurers will face the legal consequences of the US sub prime debacle while their shareholders are seeking better management
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News
R&SA to offer services for property investors
Royal & SunAlliance (R&SA) has introduced a range of services for its property investor customers, including an assessment of the risk of flooding in their potential investment areas.Offered by R&SA’s regional property investors trading teams the services include a version of the geographical risk assessment which can calculate the risk ...
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News
Insurers to reassess product recall risk
The recent spate of multi-million pound product recalls from China will lead insurers to reassess how to manage the associated risks, according to industry figures. Aon associate director Mark Quinn said many customers would soon make it a contractual requirement for their suppliers to buy product recall protection, but cover ...
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News
UK seeks EU aid to pay for summer floods
?The government has admitted that it has applied for relief aid to the European Commission, after the floods in June and July . The ABI said about 45,000 households and 14,500 businesses had made insurance claims following the UK’s worst flooding in more than a half-century. The cost of the ...
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News
Relief as hurricane Dean calms
UK insurers are breathing a sigh of relief after the calming of Hurricane Dean which ripped through Jamaica and Mexico amassing about $1.5bn in insured losses.Hurricane Dean was a Category 4 when it swept through Jamaica last weekend and Mexico earlier this week, however, it stayed mainly offshore and in ...
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Online onlyFoot and mouth outbreak may cripple farm support industry
SME businesses could be hardest hit
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Online only
R&SA service assesses flood risk for investors
New services enable property investors to calculate risk of flooding
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Online onlyLockton: product recall could be fatal
Calls for more robust risk management to mitigate agains potential bankruptcy
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News
ABI: meet our demands or 500,000 lose cover
Insurers give ultimatum to government to adequately manage flood risks
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News
NU seeks commission cuts as profits slump
New chief executive wants cost of distribution at ‘a better level’
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News
Flooding forces AXA to raise property rates
AXA Insurance chief executive Peter Hubbard said AXA would be increasing property rates following the flooding, with rises of as much as 10%. He said: “Rates have been going backwards while claims inflation has been increasing. This needs to be addressed. AXA will be putting up household and commercial property ...
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