GISC blocks Collard
The GISC has issued an intervention order against Collard & Partners. The order, which has immediate effect, requires Collard to cease accepting premiums of any kind forthwith and forbids it from disposing of or otherwise dealing with any of its assets without the prior consent of GISC.
Rise in e-motor
A quarter of consumers who changed motor insurer in 2002 used the internet to do so, according to a survey by consultancy eBenchmarkers.
By the end of 2002 the number of motor insurance policies initiated online was two million per month. The survey also forecast that 40% of new motor policies would be generated through the internet by the end of next year.
New Ace divisions
Ace Bermuda Insurance subsidiary, Ace European Markets, has launched two new divisions: Ace Financial Solutions Europe and Ace Financial Solutions Reinsurance Europe.
Health insurance products offer the strongest growth potential for financial services distribution partnerships, according to research by consultancy Watson Wyatt.
No fraud at Heath
A US court has found that allegations of fraud made against Heath Lambert were not sustainable. In a case heard in the Superior Court of California, Heath was granted a summary judgment in its favour, which dismissed it from a case involving fraud claims made by Artisan Entertainment.
AIG rating firm
Standard & Poor's has affirmed its AAA ratings on US property & casualty insurer American International Group (AIG).
The Federation of European Risk Management Associations has announced that its 2003 annual forum will take place in Rome from 5-8 October 2003.