?Aon and Heath settle
Aon and Heath Lambert today announced they have reached a settlement of all of the litigation relating to former Aon Newcastle employees. The employees defected to Heath Lambert in the first quarter of last year.
QBE forms casualty unit
QBE European Operations announced the formation of a casualty division under the joint leadership of newly appointed managing directors Ash Bathia and David Constable, with effect from 2008. The company said the new division will bring together the casualty teams from DA Constable Syndicate 386 and QBE Insurance (Europe).
High Court rules on FOS
The High Court confirmed that the Financial Ombudsman Service did not have the power to make a binding award requiring a redress payment in excess of £100,000.
Ace extends D&O
Ace European Group has extended its directors’ and officers’ (D&O) cover to provide protection for SME private company clients.
Excessive regulation is endangering the industry by loading companies with costs, distracting management and creating barriers to competition and innovation, according to a survey by PWC.
Brokers not transparent
The Federation of European Risk Management Associations (Ferma) told the European Commission that the level of transparency of broker commissions was still “not entirely satisfactory”.
Charman loses appeal
Insurance magnate John Charman lost his appeal to overturn the £48m divorce settlement awarded to his ex-wife. Charman will now appeal to the House of Lords.