News
Jardine Lloyd Thompson acquires Harman Wicks & Swayne
Jardine Lloyd Thompson (JLT) has acquired HWS Holdings (HWS), with its two Lloyd’s Broker subsidiaries Harman Wicks and Swayne Limited, the London based Reinsurance Broker and Harman Wicks & Swayne International, a wholesale provider of SME insurance…
Law firms face increased liability risks, warns Marsh
Marsh has said it believes that the economic downturn in the US and many parts of Europe, caused by the contraction of readily available credit in some spheres, will increase the incidence of professional liability claims against law firms during the…
Sullivan leaves AIG as CEO
Martin Sullivan has resigned his post as CEO of AIG, the insurance giant said in a statement. Current chairman Robert Willumstad has taken over the position as head of the company.
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Marsh establishes Insurance Regulatory & Tax Consulting Practice
Marsh, the world’s leading insurance broker and risk adviser, today announced it has established an Insurance Regulatory and Tax Consulting Practice within the firm’s Global Risk Management Division. The new practice will be led by Praveen Sharma.
Private medical insurance policies lack clarity on cancer care, says charity
Cancer insurance policies offered by PMI providers have been criticised for lack of clarity and ambiguous terminology that may result in people being excluded from treatment, according to a study by Mercer and Cancerbackup, the cancer charity.
BPO on insurer's agenda says Datamonitor
Insurers in Europe and the US are increasingly considering policy administration business process outsourcing (BPO), says a new report by independent market analyst Datamonitor.
Environment Agency reports 12 months on since the summer floods
Nearly 12 months on since unprecedented rainfall led to widespread flooding in England and parts of Wales, the Environment Agency has completed 34 flood defences to increase protection to more than 30,000 homes and signed up 73,000 more people to its…
SSP rolls out Imarket offering to brokers
SSP has rolled-out its integrated imarket solution, iConnect, to its first 100 brokers and is expecting to have a further 100 using the system in the next Quarter as transaction volumes continue to pick up momentum.
Marsh expands global construction claims team
Marsh has acquired the assets of The Nielsen-Wurster Group’s Construction Claims and Dispute Resolution business. As part of the transaction, more than 30 Nielsen-Wurster professionals and staff will join Marsh, including Reza Nikain, president of the…
Brit buys 30% stake in broker
Brit Insurance Holdings has made an investment of £7m in Xbridge giving Brit Insurance a 38% interest in the business. Xbridge is the United Kingdom's leading online insurance and finance technology platform specialising in owner-managed businesses,…
Moneyway welcomes FSA plans for transparency
Moneyway, the bank that prides itself on being simple and transparent, has welcomed the news that the Financial Services Agency plans to ‘name and shame’ financial brands that are subject to complaints. Gary Jennison, CEO of Moneyway, formerly known as…
Not switching home insurance cost Brits £26m last year
Research published today by Tescocompare.com has revealed that almost two thirds (64%) of Brits stayed with their existing home and contents insurance provider at their last renewal. This is despite almost half (44%) seeing a price increase and a massive…
Details of annual insurance charities day revealed
The insurance charities annual charity day is being held this year on Friday 20 June.
Stackhouse Poland acquires
Stackhouse Poland has cemented its position as one of the country’s leading independent insurance brokers with its acquisition of 100% of the share capital of David Fangen Holdings, which includes David Fangen (based in London) and W Burch & Son (High…
SSP rolls out integrated imarket solution, iConnect
SSP has rolled-out its integrated imarket solution, iConnect, to its first 100 brokers and is expecting to have a further 100 using the system in the next quarter as transaction volumes continue to pick up momentum.
Business as usual despite credit crunch says Focus Solutions’ survey
44% of financial services institutions said that it was business as usual and that the current economic climate has had no effect on their business, according to a survey conducted by Focus Solutions at their focus:360° launch event and industry briefing…
Defaqto response to the CC Provisional Findings Report
Defaqto has welcomed the publication by the Competition Commission of its provisional findings in its inquiry into the Payment Protection Insurance market.
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Insurance Age weekly on-air news review
Insurance Age news editor Sarah Hills provides a run down of the major news stories from the event - watch it now
Zurich to cut general insurance workforce by up to 900
Zurich has announced that up to 900 people could be made redundant as part of a “significant re-shaping of the company”, putting one sixth of the insurer’s UK general insurance workforce at risk.
Axa expands protection large case team
Axa has expanded its large case team for protection products.