Levene slams paper
Lloyd's chairman Lord Levene urged underwriters and brokers to move away from paper-based trading and embrace new technology.
"I have never come across an industry as paper-bound as the London insurance market, and I have to say that it even surpasses the Civil Service in its volume of paper," said Levene.
Cox in Harley deal
Cox Insurance's broking arm, Boncaster, has signed a deal with Harley-Davidson Financial Services to become the official supplier of the Harley Rider Insurance Scheme.
Cape has agreed a compensation settlement of £7.5m for the 7,500 employees suffering from asbestos-related diseases.
According to a statement from lobby group Action for Southern Africa (ACTSA), the compensation will be paid in one instalment, by 19 March.
It has been made in conjunction with another settlement by Gencor, a South African company that acquired a number of Cape operations in 1979.
HSE falls strategy
HSE inspectors are to meet designers and planning supervisors in Scotland and the north of England this week, in a move to reduce the number of falls from height on construction sites
Abbey ATE win
Claims Direct Lloyd's underwriters have appointed Abbey Legal Protection to manage the insurer's run-off account.
SRIR stops writing
Special Risk Insurance and Reinsurance Luxembourg (SRIR) has stopped writing new business and is expected to be shut down by 2005.
SRIR was launched to satisfy demand for terrorism cover following the terrorist attacks of 11 September 2001.
As well as Allianz, SRIR's shareholders include Zurich Financial Services, XL Capital, Swiss Re, Scor and Hannover Re.