FSA Europe focus
Outgoing FSA chairman Sir Howard Davies has said many of the regulator's future challenges lie in Europe.
Speaking at the FSA's AGM last week Davies said much of the FSA's future work will be done in co-operation with European regulators.
Davies said: "Much of the work we do on the future of our regulatory environment has to be done in co-operation with regulators overseas, and particularly in Europe. [It] will remain high on my successor's agenda."
AIR models wind
US-based firm AIR has launched the latest version of its European windstorm model, claiming it will improve underwriters' accuracy.
Windstorm models are used by insurers to predict potential losses on any book of business.
AIR's European windstorm uses weather prediction technology, which it claims can predict European storms with high levels of accuracy.
Loss adjuster Cunningham Lindsey has launched an initiative to provide web-based, real-time claim information to policyholders.
The CustomerLink initiative - which Cunningham Lindsey says is the first application of its type - will enable policyholders to track their claims status.
Acturis TIA deal
Acturis has teamed up with TIA systems in a bid to bolster their offerings to brokers. Acturis, which services the broker market, and TIA, which supplies systems to insurers, are set to extend their products range and geographic reach. The deal also aims to integrate the suppliers' systems.
HIH dividend set
Creditors of failed Australian insurer HIH are set to receive a final dividend of no more than 10-20 cents in the dollar, the liquidator said yesterday. KPMG said company law would dictate that creditors with liabilities in Australia are likely to get priority payments. This is the first time KMPG has given creditors an indication of how much they could receive. Payments will be made over seven to ten years.