Cost of bank errors
Bank errors and delays are costing the UK insurance industry more than £280,000 each year, as companies chase lost or delayed international payments, according to Travelex, the global business payments specialist. First published 31 October
BeazleyCargo launched
Beazley’s UK marine team launched BeazleyCargo, an online certificate-issuing system, which removes the manual process involved where individual certificates must be presented as proof of insurance for individual cargo shipments. First published 1 November
Cunningham deal
Private equity firm Stone Point acquired a 51% interest, for approximately $80m (£38.4m), in a new holding company that will own the operating businesses of Cunningham Lindsey. Current broker Fairfax will invest about $30m and senior management of Cunningham Lindsey’s operating companies will be investing also. First published 31 October
Broker Network deals
Broker Network acquired network member George Williams Insurance Services. and Manning Insurance Services joined the network. First published 1 November
Asian venture for Talbot
Talbot Underwriting, the Validus-owned specialty insurer, established its first Asian-based venture, Talbot Asia. It will be headed by chief executive designate Jeremy Austen, former managing director of Arthur J. Gallagher Asia. First published 31 October
R&SA apprentice scheme
Royal & SunAlliance (R&SA) launched an apprenticeship scheme in its engineering team's consultancy division. It will provide recruits with full on-the-job training across the loss control portfolio. First published 1 November
