Brokers to join ARC
The Association of Run-Off Companies (ARC) is set to let brokers join. Philip Grant, treasurer of ARC, said: "As the market consolidates, concentrating the management of run-off portfolios in fewer hands, then it is only natural that service providers as well as the individual companies they represent should have their say." Brokers will be able to participate in all ARC activities as non-voting interested party members.
ESG Re legal action
ESG Re, a Bermuda company with a Dublin-based insurance and reinsurance subsidiary, has filed a legal action against Deloitte & Touche (Ireland), Deloitte & Touche (Bermuda), Deloitte & Touche (US) and Mary Fulton, a partner of Deloitte & Touche (Ireland). ESG Re said the complaint cites professional negligence, wrongful and unjustified breach of contract, negligent misinterpretation and other misconduct relating to the termination of its auditing engagement contract in 2002. ESG Re is seeking compensation for damages caused, including the loss of existing and potential new business. The company claims the timing of Deloitte & Touche's action resulted in ESG's inability to file audited Q3 2002 returns on schedule, which lead to a forced de-listing from Nasdaq and the downgrading of its debt rating.
Key to car theft
Figures published today show that theft of keys as a means of stealing vehicles is on the rise, according vehicle recovery specialists Tracker. Tracker recovered £2,705,000 worth of vehicles in July 2003 which had been stolen in this way. According to the company, this was more than double the total number of key theft recoveries for 1998.
Health for Industry, the healthcare benefits consultancy, has announced the acquisition of Integra Healthcare. The company will remain under the leadership of Paul Brantingham, managing director of Integra Healthcare.