Beazley IQ is an electronic queuing system developed for the syndicate's box at Lloyd's.

Anti-queue system
Beazley IQ is an electronic queuing system developed for the syndicate's box at Lloyd's.

The system is intended to abolish queues for underwriters.

London Utd payout
Creditors of five failed insurers known as the KWELM companies will receive payments later this month.

The companies - subsidiaries of the failed London United Investments - are Kingscroft Insurance, Walbrook Insurance, El Paso Insurance, Lime Street Insurance and Mutual Reinsurance.

Creditors will receive 32%- 48% of their claims.

US worst year
The US property and casualty insurance industry had its worst year ever last year as it recorded an after-tax loss for the first time, according to a new report by Fitch Ratings.

The ratings agency said conditions are set to improve in 2002.

E.ON Risk takeover
Cooper Gay, the privately-owned broker, has bought a 51% stake in Hamburg-based Junge & Co.

The remaining 49% is owned by Dusseldorf-based E.ON Risk Consulting, the in-house insurance broking unit of E.ON Group, Germany's third-largest industrial group.