Levene blasts US
Lloyd's chairman Lord Levene said the US had changed from a "can-do" culture to a "can-sue" one. He outlined his view of challenges facing the insurance industry in the …
Levene blasts USLloyd's chairman Lord Levene said the US had changed from a "can-do" culture to a "can-sue" one. He outlined his view of challenges facing the insurance industry in the US during a speech to the New York RIMS conference
AM Best ratingsPressure on risk-adjusted capital adequacy has been the prime source of lower reinsurer ratings, said AM Best. It added that modest underwriting profits in property/casualty markets to date in 2003 was a crucial additional component in the rating decisions. AM Best said its expectations for full year results were not much more positive.
New BLM officeNorth East insurance practice Jacksons Insurance Law is to join national law firm Berrymans Lace Mawer (BLM) in November 2003.The move will give BLM's insurance practice a North East base. Jacksons will be renamed BLM Stockton-on-Tees. Jacksons' senior partner Richard Clark will join the BLM Senior Partners' Forum.
Disability Act surveyMore than three quarters of businesses in the professional services sector are in danger of prosecution under additions to the Disability Discrimination Act (DDA), says research by RNID.RNID, the largest charity representing deaf or hard of hearing people in the UK, found that 79% of small businesses in the professional services sector surveyed said they did not plan to make any changes under the new part of the Act when it comes into force in October 2004.
Sickness costSickness absences cost UK businesses about £11bn a year, and that 70% of that total can be due to long-term absences, according to UnumProvident. It said an estimated 78% of SME owners had never calculated the cost of sickness absence in their companies.UnumProvident has developed a new group income protection product called Capital Option to add to its Sickness Absence Solutions range. Capital option will provide income benefits for two, three or five years, followed by a lump sum to finance an employee's early retirement or leaving service benefits.
Top claims prizeGAB Robins' Pamela Allen has won the Cunningham Lindsey Prize for most meritorious results in CT1 and CT2 examinations of the Society of Claims Technicians