Towergate director
Towergate Underwriting Group has appointed David Torrance, AXA's former UK general insurance finance director, as its new finance director.
Torrance's experience includes …
Towergate director
Towergate Underwriting Group has appointed David Torrance, AXA's former UK general insurance finance director, as its new finance director.
Torrance's experience includes working for PPP Healthcare for 11 years, where he ended up as deputy chief executive and chief financial officer. He also has extensive experience working for KPMG and the oil industry.
Travelex launch
Travel money and services provider Travelex has teamed up with Atlas International Rescue to launch Travelsolve Assistance.
GE Financial Insurance Europe, one of the UK's major travel insurance providers, has signed up as Travelex's first customer.
Travelex claims this made Travelsolve Assistance immediately the UK's largest independent assistance service.
Research into risk
Lloyd's, the Association of Insurance and Risk Managers and think-tank Global Futures have launched a research project to "take the global pulse" of the risks faced by business and society post- 11 September.
The research is intended to find out how businesses have responded to the World Trade Centre tragedy and how their view of risk has altered, the so-called corporate fear factor.
Lloyd's director of worldwide markets, Julian James, said: "11September was Lloyd's largest ever single claim and its most complex. Now that the initial shocks of the attacks are subsiding, we need to know what the lasting effects will be in the world insurance market."
The first stage of the research will be reported at this year's Airmic conference in Birmingham from 16 to 18 June.
FSCS levy plans
The Financial Services Compensation Scheme (FSCS) has announced levy plans until 2003.
These include plans to raise £56.4m from firms allocated to contribution groups in the investment business sub-scheme.
The FSCS said there were no plans at present to raise levies for compensation costs against firms in the accepting deposits or insurance sub-schemes.
Chief executive Suzanne McCarthy said: "We should have sufficient funds to cover expected compensation payments and management expenses this financial year in both the deposit and insurance sub-schemes."
Signet chairman
WR Berkley Corporation has announced the appointment of Tom Kellogg as chairman of its subsidiary, Signet Star Holdings, the parent of Berkley Insurance Company.
The company also announced the formation
of Berkley Capital Underwriters of which Kellogg will be president.
The new company will market and underwrite a proportional form of reinsurance on behalf of Berkley Insurance Company.
Last month WR Berkley purchased a 20% stake in Lloyd's insurer Kiln.
Tesco travel cover
Travellers can now buy their travel insurance off-the-shelf from Tesco stores on the way to the airport.
The Tesco Personal Finance Instant Travel Insurance can take immediate effect, which is why it can be bought last minute.
Cover can include European or worldwide cover, single trip or annual policy cover.
Head of Insurance Paul Baxter said: "It's the ultimate in convenience shopping - holidaymakers can pick up their travel insurance at the same time as their sun cream."
Door-to-door sales
Life insurer Royal London is set to start selling domestic pet, annual travel and health cashplan policies.
The company's 45-strong door-to-door sales force will sell Norwich Union's off-the-shelf products.
