Insurance news

• Willis suing JLT over specie team lift

  14-04-2015 19:04
  Broker seeking damages after rival poached 22-strong team
  
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• Willis begins legal action against JLT at the High Court

  14-04-2015 18:55
  
  The case relates to the proposed sale of its FAJS division to Miller Insurance and involves JLT Group.
  
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• Markerstudy tempted by Gibraltar pair before sealing Chaucer deal

  14-04-2015 18:51
  
  James Verrinder Postonline Markerstudy was interested in acquiring either one of Gibraltar-based pair Octagon or the now defunct Service Insurance Company before sealing a deal to buy Chaucer's UK motor book.
  
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• Kathryn Mortimer exits Das

  14-04-2015 18:10 via insuranceage.co.uk
  
  Das confirms that its head of legal services has left the firm following an internal investigation.
  
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• Scenario testing required as industry concerns over EU exit increase

  14-04-2015 16:31
  
  Katie Marriner Postonline Insurance firms are being urged to adopt scenario testing from this year in preparation for the proposed referendum on the UK's European Union membership under a future Conservative government.
  
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• Former RSA chief digital officer joins asset management firm

  14-04-2015 14:35
  RSA confirmed last month that Ian Hood was leaving the insurer
  
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• Towergate closes three offices

  14-04-2015 14:17
  
  Consolidator's changes to impact St Ives, St Neots and Peterborough.
  
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• IUA: Scottish asbestos proposal will inflate liability premiums

  14-04-2015 14:17
  Scottish MP Stuart McMillan’s medical cost recovery proposal ‘could prove unlawful’
  
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• Brit syndicate growth highlights Lloyd's desirability for M&A buyers

  14-04-2015 14:07
  
  Katie Marriner Postonline Gross written premium growth experienced by Brit's sole Lloyd's syndicate in 2014 is a marker of the continuing attractiveness of having a sizeable Lloyd's platform for companies seeking a third party buyer, according to market analysts.
  
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• NIHL overcrowding leading to claims 'backlog' as new entrants flood market

  14-04-2015 13:54
  
  James Verrinder Postonline The noise induced hearing loss arena is producing a logjam of claims and is becoming overcrowded with new entrants, according to members of both the defendant and claimant legal fraternities.
  
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• Markerstudy's Gary Humphreys: Motor insurers need scale to survive

  14-04-2015 13:50
  Markerstudy will invest in data enrichment and insurer hosted pricing for recently acquired Chaucer UK motor book
  
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• Jonathan Evans to chair Allied World Lloyd’s unit

  14-04-2015 13:21
  Former MP joins new managing agency’s board
  
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• Applied Systems relocates Brighton HQ

  14-04-2015 13:12
  
  James Verrinder Postonline Applied Systems has relocated its UK headquarters to Invicta House in Trafalgar Place, Brighton's flagship business development centre.
  
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• Clydesdale Bank to pay biggest ever PPI fine

  14-04-2015 12:36 via insuranceage.co.uk
  
  The FCA fines the bank £20.7m for handling PPI complaints incorrectly.
  
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• Outgoing MP Evans becomes non-exec chair of Allied World MGA

  14-04-2015 12:21
  
  Callum BrodiePostonline Veteran parliamentarian Jonathan Evans will take on the role of non-executive chairman of Allied World Assurance’s Lloyd’s managing agency after stepping down as MP for Cardiff North.
  
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• XL chief: Insurance faces a battle to be relevant

  14-04-2015 12:17
  
  Mike McGavick said the industry is being overlooked by some of the biggest firms and sectors.
  
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• Former MP Jonathan Evans joins Allied World board

  14-04-2015 12:09 via insuranceage.co.uk
  
  Evans will also become non-executive chairman of Allied World Managing Agency.
  
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• FCA fines Clydesdale Bank a record £21m over PPI complaints

  14-04-2015 12:03
  
  Regulator rules bank had lax procedures on payment protection insurance and misled financial ombudsmanThe Financial Conduct Authority has fined Clydesdale Bank almost £21m for poor treatment of what could be more than 100,000 customers seeking compensation over payment protection insurance (PPI).The £20.7m fine is the biggest by the regulator for a company’s mishandling of PPI complaints. As well as using sloppy procedures, Clydesdale misled the Financial Ombudsman Service, which a
  
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• FCA fines Clydesdale Bank £21m after it 'misled' FOS on PPI

  14-04-2015 11:30
  Regulator hands down its biggest-ever PPI fine for ‘serious failings’ in complaints handling
  
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• Ex-RSA CDO Hood resurfaces in asset management sector

  14-04-2015 11:28
  
  Callum BrodiePostonline Former RSA chief digital officer Ian Hood has resurfaced in the asset management sector after joining Fidelity Worldwide Investment as head of digital for the UK business.
  
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• Dual launches Netherlands marine operation

  14-04-2015 11:26
  
  Katie Marriner Postonline Hyperion's underwriter Dual has opened its first Netherlands office writing marine and energy lines.
  
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• IUA brands Scottish plans to recover asbestos costs 'an abuse of process'

  14-04-2015 11:12
  
  Callum BrodiePostonline The Scottish government’s proposal to recover medical costs for treating asbestos diseases is unequitable, could prove unlawful and would drive up the cost of liability insurance, according to the International Underwriting Association.
  
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• Vienna Insurance Group hails ‘major increase' in profit

  14-04-2015 10:46
  
  James Verrinder Postonline
  
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• Ex-Towergate chief Hodges appointed British Gas MD

  14-04-2015 10:07
  
  Mark Hodges to join Centrica board with annual basic salary of £625,000 and bonus opportunities.
  
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• Ex-Towergate boss Mark Hodges resurfaces as British Gas managing director

  14-04-2015 09:56
  Hodges will be on a basic slary of £625,000
  
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• Car insurance premiums fell in first quarter of 2015

  14-04-2015 09:15
  But prices are expected to increase again in the coming quarters says Confused/Towers Watson index
  
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• Seasonal competition triggers marginal drop in Q1 motor rates

  14-04-2015 09:00
  
  Callum BrodiePostonline Motor insurance rates are expected to continue upwards despite a slight reduction caused by seasonal competition during the opening quarter of the year.
  
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• Euler Hermes UK appoints new chief executive

  14-04-2015 08:48
  Valerio Perinelli replaces Gerard van Kaathoven who is returning to the Netherlands in a new role as head of group projects
  
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• Quindell Group finance boss to step down after professional services sale completed

  14-04-2015 08:37
  Laurence Moorse will be replaced by Mark Williams who has been acting as a consultant for the company since January
  
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• Quindell finance chief to step down after professional services sale completed

  14-04-2015 08:37
  Laurence Moorse will be replaced by Mark Williams who has been acting as a consultant for the company since January
  
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• Quindell finance chief to step down after completion of professional services sale

  14-04-2015 08:37
  Laurence Moorse will be replaced by Mark Williams who has been acting as a consultant for the company since January
  
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• Will specialist insurance soothe your spills, bills and bellyaches?

  14-04-2015 08:00
  
  From emptying a cup of tea on your new sofa to pranging a hire car or losing your keys, there are policies that cover a range of specific incidentsIf you’re splashing out on a sofa or holiday, you’re more thanlikely to be offered the chance to insure your purchase against disaster. Accidents happen, and you may be tempted to pay a little more to make sure that a spilled cup of tea doesn’t lead to grumbles over your new buy becoming a write-off. But before you sign up to a specialist insura
  
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• Esure’s Stuart Vann gets 12% pay rise in 2014

  14-04-2015 07:30
  But founder and chairman Peter Wood’s pay drops 3%
  
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• Snowball to leave Suncorp in October

  14-04-2015 07:28
  
  Andrew Tjaardstra Postonline Patrick Snowball is set to relinquish his role as CEO of Suncorp in October with Michael Cameron, CEO of property group GPT, replacing him.
  
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• Axa expands Singapore post office offering

  14-04-2015 04:27
  
  Andrew Tjaardstra Postonline Axa is to increase its insurance offering to 44 SingPost branches and will include general insurance.
  
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