FI losses fear

Brokers fear troubled Formula 1 teams could trigger massive losses after the Arrows team goes into liquidation.

Sports broker Stuart Alexander's operations director Graham Cotes said: "Insurers in this field are braced for large losses.

PI claims system

A new personal injury compensation claims database will be launched today.

The system, known as CUE PI, has been created by Insurance Database Services Ltd (IDSL) to help insurers and lawyers assess compensation claims. CUE PI will compile and collate information on personal injury claimants. Its aim is to assess how previous claims for injuries and diseases could affect compensation and weed out potential fraudsters.

Helphire team

Helphire Group has made appointments from Aon Motor Accident Manage-ment for its new fleet accident management business.

Stefan Smyth has been appointed as business director; Ian Blackford, operations director; and Richard Woodley, sales director.

Winterthur profit

Winterthur, the parent group of UK insurer Churchill, returned to profit in the fourth quarter of last year.

Its parent, Swiss giant Credit Suisse Group, said it expected to lose SF1bn (£454m) in the fourth quarter and SF3.4bn (£1.45bn) for 2002.

New CFO for Aon

Aon has appointed John Cullen as chief financial officer and chief operating officer for Aon's risks services business in the UK.

Cullen, who was formerly chief operating officer and chief financial officer for Aon's Asian operation, will be tasked with improving the company's efficiency. He refused to comment on possible redundancies.

He will also be responsible for tackling the Aon corporate governance in the UK as well as issues concerning FSA compliance.