GAAP system
Lloyd's managing agent Greenwich has contracted insurance IT specialist Sequel to provide its underwriting data in accordance with GAAP annual accounting standards.

BIPAR chairman
The International Federation of Insurance Intermediaries (BIPAR) has elected Claudio Ruzzi as its new chairman. Outgoing chairman Antonio Vilela will assist Ruzzi until the end of the year.

Porsche Tracked
Over £3m worth of recoveries were made using the Tracker vehicle location system in the first quarter of 2003.

In its second most successful month of the year, Tracker made 108 recoveries. Its highest value recovery was a £102,000 Porsche 911 Turbo.

Hiscox Capita deal
Hiscox has agreed an extension to its administration contract with Capita Insurance Services.

Capita will provide high net worth policy administration, new business processing, mid-term adjustments and policy renewals. It will also handle cash allocation and broker administrative services.

Online D&O cover
CNA Insurance has teamed up with Biba to launch a web-based directors' and officers' (D&O) liability initiative.

The offering, which aims to cut broker overheads, provides brokers with policy information and instant cover on-line.

Biba chief executive Mike Williams said: "It is essential this type of insurance is available."

Wood firm jobs
The new insurer, recently announced by insurance entrepreneur Peter Wood, has kicked off a recruitment drive to attract new staff.

The company, codenamed Spectrum, plans to recruit senior IT posts, claims, finance, operations,underwriting and marketing.

They will be based in esure's offices in Surrey and Manchester.