News
Hector Sants blames much of financial crisis on culture
FSA chief executive Hector Sants has lamented evidence that the "behavioural issues" which contributed to the financial crisis are still being observed in some major firms.
Aviva revamps commercial offering
Aviva claims to have improved its commercial policy documentation to extend the cover and make it more broker and customer-friendly.
Law firm highlights drawbacks of "one stop shop" regulator
Bruno Geiringer, a partner in the insurance group at Pinsent Masons, said that "scraping the FSA for banks is right but the case is not made for insurers".
Aviva reports 50% increase in motorcycle claims
Aviva has revealed that since 2005 it has seen a 57% increase in the number of bodily injury claims made against motorcyclists. The insurer has also seen motorcycle claims costs increase by 51% in the same period, and its statistics indicate that this is…
QBE raids RBSI for property claims chief
QBE has announced the appointment of Julian Millar as head of claims in its property division.
Brokers Link grows membership
Global insurance broker network Brokers Link has added six new international specialised service providers to its membership.
Carole Nash bags Co-operative book
Carole Nash has won a 5,000-strong motorcycle book from The Co-operative Insurance.
Ecclesiastical absorbs partner insurer
Ansvar, the specialty insurer bought by Ecclesiastical Insurance in 1998, is to be absorbed into the larger group.
Chancellor confirms FSA will "cease to exist in current form"
Chancellor George Osborne has confirmed in his first Mansion House speech that he will give the Bank of England the key role in regulating the UK financial sector and that the Financial Services Authority (FSA) will “cease to exist in its current form”.
Incisive Media scoops Biba awards
Insurance Age, PB, Post and Reinsurance journalists have won four awards and three “highly commended” accolades at the British Insurance Brokers’ Association’s 2010 journalist of the year awards.
Markel relocates Scottish office
Markel (UK) Limited, the retail division of Markel International, the specialty property and casualty insurer, has relocated its office in Scotland to Glasgow.
Lloyd's appoints new deputy chairman
Lloyd’s has announced that Paul Jardine from Catlin Syndicate will become a deputy chairman of the Council of Lloyd’s following Ewen Gilmour’s retirement from the position earlier this month.
FSA powers to be cut
Chancellor George Osborne has confirmed that he will give the Bank of England the key role in regulating the UK financial sector, according to reports.
Blackham's boutique investment plan
Chris Blackham, former chief executive of Layton Blackham, opens boutique investment house Endorphin to invest in brokers.
Four promotions at Canopius
Canopius has announced a number of promotions following a review of its senior management organisation at its Lloyd's platform, Canopius Managing Agents.
RICS picks Howden as preferred broker
The Royal Institution of Chartered Surveyors (RICS) has appointed specialist Lloyd’s broker Howden as its preferred UK professional indemnity (PI) broker.
Jelf reports £616,000 loss; chairman to leave
Jelf has reported a £616,000 loss for the six months ending 31 March 2010, compared to a £994,000 loss for the same period the previous year.
Fusion founders Pallett and Crisp join Aspen
Aspen Insurance UK, a subsidiary of Aspen Insurance Holdings, has announced the appointment of Kevin Pallett and Geoff Crisp to launch a range of new insurance and risk management products for selected brokers and their clients in the UK market.
UK inflation rate falls
The Office for National Statistics has announced that the consumer prices index measure of annual inflation fell to 3.4% in May from 3.7% in April.
RSA's Devitt to depart UK business
RSA’s sales and strategic relationship director Aaron Devitt is to leave the UK business after taking an internal promotion in Copenhagen.
Total Objects wins London Market project
Software company, Total Objects, has been chosen to manage the ECF2 Market Acceptance Testing project for the London Market.
AMII warns Government off IPT increase
Any rise in insurance premium tax (IPT) will severely hit an NHS already under pressure, according to the Association of Medical Insurance Intermediaries (AMII).
Argo moves into entertainment with Mitsui appointment
Argo International, the specialist Lloyd's insurer and subsidiary of Argo Group International Holdings, has expanded its specialist portfolio with the addition of entertainment to its underwriting business.
Axa appoints former Allianz man as property chief
Axa Insurance has appointed Tony Hutchins as its new head of property insurance. Mr Hutchins has joined from Allianz Commercial where he was UK head of property and risk control.