Lloyd's of London News – Page 113
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News
Chief reinsurance advisor grilled
Nathan Skinner reports on the continuing Independent fraud case
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NewsAriel Re touted as Bermudan insurers eye Canopius takeover
Canopius has become the latest takeover target for Bermudan insurers looking to gain a foothold in the Lloyd’s market.The insurer is understood to have received several unsolicited approaches in the region of £250m, with Ariel Re being touted as a potential bidder.The Bermuda reinsurer, led by industry veteran Don Kramer, ...
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Online onlyIndie trial: Defence says Lomas kept out of the loop
Lomas’ defence has suggested the finance director was kept in the dark about details of key reinsurance contracts
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Online onlyDevelopers may have to foot insurance bill
Proposal to make developers pay insurance for up to 20 years on builds in flood areas
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Online onlyIndie trial: Consultants didn't advise on reinsurance properly
Michael Bright's defence counsel has suggested that Independent's reinsurance consultants did not provide proper advice for the company's directors
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Online onlyIndie trial: Directors warned about future cost of reinsurance
Independent’s directors were warned about mortgaging the future of the company through expensive reinsurance deals, said a prosecution witness
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Insurers meet with Government ministers
ABI director general says insurers are doing "all that they can" to deal with flood claims
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News
Insurers count the cost of flooding
This week the ABI upped the estimated total cost of claims relating to the recent flooding
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Online onlyIndie trial: defendants knew about 'payback' reinsurance deals
Dennis Lomas and Michael Bright knew about ‘payback’ reinsurance deals between Independent and its reinsurers, said a prosecution witness
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R&SA estimates flood claims to cost £55m
Insurer maintains pay-out will not affect full year guidance
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GAB Robins moves to bolster corporate client services
Corporate client director appointed
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Zurich welcomes solicitors' new code of conduct
New code includes a stricter regime to minimise errors, especially in residential property transactions
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Industry should not fear principles-based regulation
Moore Stephens' Simon Gallagher urges insurers to engage in "spirit of the rules"
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News
SME terror cover set to surge after attacks
The take-up of terrorism cover among SMEs could be set to surge following the latest terrorism threats in the UK.The number of businesses, which currently take out terrorism cover as part of their commercial property insurance, is said to be low among SMEs compared to corporate-sized firms.But, as counter-terrorist officials ...
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News
Stop the flood fraudsters
Insurers need to strike a fine balance between compassion and efficiency over the next few months, as the aftermath of the recent floods takes its toll.While it is important to deal with immediate concerns, such as providing householders with appropriate alternative accommodation, robust systems to guard against fraudulent claims need ...
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News Analysis
Government pledges £800m flood defence spending
Industry fears how money will be spent.
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Business Continuity centres "worthless", say experts
Specialist back-up centres designed to provide business continuity resources in the wake of a terrorist incident may be worthless, warns Moore Stephens.
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Online onlyTerrorism cover essential - warns NU
As the UK moves to its highest level of terror alert, Norwich Union has underlined the need for businesses to be aware of the need for adequate cover.
