P&I cargo warning
The London P&I Club has warned its members about an increase in the number of claims for cargo damage. The club raised concerns over so-called "shortage allegations" in cases where inspections are performed by surveyors on behalf of local receivers.
Lloyd's gets A minus
Fitch Ratings has affirmed the A minus insurer financial strength rating of Lloyd's and revealed it expects the market to make a £2bn underwriting profit for 2002. At the same time, the agency affirmed Lloyd's rating outlook as negative.
Broker Opus has expanded its presence in the leisure insurance market by recruiting a specialist team from Windsor Insurance Brokers.
Cox Insurance division, Argent Insurance, is to rebrand its commercial arm to Insure-commercial.
Insure-commercial will operate from its existing premises in Staffordshire, Derbyshire and Yorkshire to provide commercial insurance services for small to medium sized enterprises.
Ports' growth hope
Associated British (AB) Ports is "hopeful" of future growth, despite facing higher insurance costs as it deals with an increased terrorist threat.
AB Ports reportedly suffered a rise of £3.1m in its insurance costs last year and claimed further security-related talks might push costs higher still.
Tyser buys Sirius
Insurance technology provider Sirius Financial Systems has announced that Unitas member Tyser has purchased Sirius for Broking.
More study support
The CII's latest report shows that employers are offering more educational support now than in 2000.
In 2000, 80% of respondents paid study fees whereas in 2002, 92% of employees took part in courses.
Industry support for employees taking exams and professional qualifications has increased since 2000, according to the Chartered Insurance Institute (CII).