Also in the news this week ...
Halo launches hire policy
Private equity-backed Halo Insurance has teamed up with Chubb to launch a car hire excess operation in Germany. The website, leihwagenversicherung.de, offers car hire, van hire and car club excess insurance policies. Chubb Insurance Company of Europe will underwrite the policies. Halo chief executive Ernesto Suarez said: “Germany has the largest number of hire car drivers in Europe yet the excess insurance market is in need of reform, so we expect there to be significant demand for products like ours.” Halo launched last year in the UK with iCarhireinsurance.com, offering excess hire car insurance direct. It is underwritten by Gibraltar-based Service Insurance.
Besso software overhaul
Lloyd’s broker Besso has started processing bordereaux using the Intrali solution from software house VIPR. Intrali allows users to import multiple bordereau data from different formats into a single layout that is compliant with both Lloyd’s and Acord standards. Bordereaux are documents containing detailed information about the risks
and losses relating to a policy. “Standardising our claims bordereaux processes is part of Besso’s long-term programme of efficiency improvements,” said Russ Nichols, managing director of the North American property division at Besso.
Rural appoints MD
Rural Insurance, the agricultural insurance arm of UK General, has hired Simon Stevens as its new managing director. Stevens will join Harrogate-based Rural from Britannia Rescue, where he was general manager, on 1 March. The appointment sees him reunited with former HBOS colleague Howard Posner, who is executive chairman of Rural. Stevens said: “The agricultural sector is dominated by NFU and a small number of specialist players, but I am convinced there are ample growth opportunities in this market.