Insurance news

• The PPI claims deadline – all you need to know

  02-10-2015 19:13
  
  The City watchdog is calling time on PPI claims in 2018, seeking closure on a banking debacle that paid out £20bn in compensationThe City watchdog is proposing to bring the shutters down on Britain’s biggest ever financial mis-selling scandal – the payment protection insurance debacle – by imposing a deadline of spring 2018 for people to submit their claims for compensation. Related: PPI claims could face 2018 deadline under FCA plansContinue reading...
  
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• JLT: market expecting $2bn-$3bn Tianjin loss

  02-10-2015 18:45
  International broker JLT has reported that insured losses from a
  series of explosions the Chinese port of Tianjin in August are
  likely to amount to $2bn-$3bn, but that some in the market are
  speculating the final bill could be as high as $6bn.
  Writing in its latest quarterly energy newsletter, the broker
  said that while market sources had indicated a loss estimate of
  between $2bn and $3bn, suggestions at the recent International
  Union of Marine Insurance (IUMI) conference in Berlin...
  
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• Q&A with Daryl Henwood at Hitachi Solutions

  02-10-2015 18:25
  
  Jonathan Swift Postonline Hitachi Solutions' CRM industry lead for financial services Daryl Henwood on the pitfalls insurers need to avoid with their customer engagement strategies; and what they can learn from the disrupters in other sectors.
  
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• CII warns apprenticeship levy risks ‘damaging the profession'

  02-10-2015 16:48
  
  James Verrinder Postonline The government's apprenticeship levy needs to address skill gaps by sector, rather than through arbitrary numerical targets, the Chartered Insurance Institute claims.
  
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• SSP: 74% of brokers don't prioritise application fraud

  02-10-2015 16:12
  
  Software house estimates application fraud and inaccuracies for motor insurance alone costs industry £1bn a year.
  
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• Insurance industry is unprepared for apprenticeship levy - CII

  02-10-2015 16:10
  
  The levy is being introduced as part of the Enterprise Bill
  
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• Simon Ronaldson leaves Acturis

  02-10-2015 16:00 via insuranceage.co.uk
  
  Board director had been with the business for 14 years.
  
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• Market moves: Back in the headlines

  02-10-2015 15:25 via insuranceage.co.uk
  
  Never far from the headlines, Towergate once again kept the broker market talking with another restructure and high-profile leavers.
  
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• Aon EMEA broking chief executive Rob Brown to leave

  02-10-2015 14:48
  
  Global risk solutions finance head John Cullen to replace him
  
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• MS&AD facing $386mn Asian storm bill

  02-10-2015 14:33
  Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance are
  jointly facing a 46.4bn yen ($386mn) hit from a trio of storms that
  struck Asia in recent months.
  But the two insurers, which are part of the MS&AD group,
  said that the estimated loss would only have a "limited impact
  on the company's soundness".
  The first storm of the three to strike was Typhoon Nangka in
  July, which left two dead and more than 30 people injured.
  MS&AD estimated that its...
  
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• Cullen promoted to CEO of Aon Risk Solutions EMEA

  02-10-2015 14:33
  John Cullen will replace Rob Brown as CEO of Aon Risk Solutions
  (ARS) EMEA from 5 October, The Insurance
  Insider can reveal.
  Cullen has served as CFO of Aon's global risk solutions
  business and chairman of the ARS Pacific region since 2014.
  Having spent more than 20 years at the firm, Cullen has also
  been CFO of Asia operations and COO of the UK Risk Solutions
  business.
  Before joining Aon Cullen worked at PwC, where he qualified as a
  chartered...
  
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• Embrace new tech to take pole position

  02-10-2015 13:37
  
  BT's Mark Jopling explains why insurers and brokers need to catch up and embrace digital technology now.
  
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• Product round-up: Back to school and back to business

  02-10-2015 13:31
  
  September is of course the big back to school month with new uniforms and hopes for the year. And insurance has not been shy in bringing forward its shiny new policies for the months ahead.
  
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• Review: Keeping it real

  02-10-2015 13:27
  
  Covéa Real Estate. This product has been reviewed by brokers and rated from one to five stars, based on the policy’s key benefits. * = Poor ** = Average *** = Good **** = Very good ***** = Excellent
  
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• Best employers: Working smarter

  02-10-2015 13:20
  
  The Best Employer category at this year’s UK Broker Awards highlighted some of the great companies to work for in the industry and shone a light on where brokers can improve employee performance and job satisfaction
  
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• DUAL hires industry veteran Clem Booth

  02-10-2015 13:17
  
  Clem Booth replaces DUAL founder Luis Muñoz-Rojas as chairman
  
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• Broking Break: Trying for World Cup glory

  02-10-2015 13:11
  
  With the Rugby World Cup now in full swing, David Griffiths head of sport UK at specialist entertainment broker Robertson Taylor discusses the key items to consider when insuring key sports events
  
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• Grahame Chilton sets out five-year strategy for Gallagher

  02-10-2015 12:51
  
  The CEO of the international brokerage division says restoring stability was one of his first tasks.
  
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• County Group announce fourth acquisition this year

  02-10-2015 12:48
  
  Wales based Brady & Jones is its latest purchase
  
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• Tokio Marine incurred $170mn loss from Goni

  02-10-2015 12:13
  Tokio Marine & Nichido Fire Insurance has revealed that it has
  incurred losses of 20.4bn yen ($170mn) from Typhoon Goni, which
  made landfall in Japan on 24 August as a Category One storm.
  The loss estimate does not consider amounts recoverable from
  reinsurance and outstanding claims reserves, and includes the
  losses of another insurer under coinsurance led by Tokio Marine,
  the carrier said.
  The group added that with further reported claims coming in,
  incurred losses could increase to 32bn ye
  
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• Booth joins Dual as chairman

  02-10-2015 12:13
  Hyperion's managing general agency (MGA) Dual has appointed
  industry veteran Clem Booth as its non-executive chairman,
  The Insurance Insider can reveal.
  Booth will also become a non-executive director on the Hyperion
  board. Both appointments are subject to regulatory approval.
  The executive is best known for his career at Allianz, where he
  was most recently a board member and chairman of the boards of
  Allianz UK and Allianz Global Corporate & Specialty until his
  retirement from the company i
  
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• Blog: How do customers really view their insurance claims process?

  02-10-2015 12:00
  
  Simon Penny Postonline Consumers these days have a huge number of valuable possessions that they want insured, and they have a wide number of insurers to choose from.
  
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• County Group buys Brady & Jones

  02-10-2015 11:56
  
  The County Group completes sixth acquisition in three years taking annual premium to £50m.
  
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• CPP hires new finance chief Michael Corcoran

  02-10-2015 11:29
  
  The insurer has suffered a torrid few years with the FCA amid mis-selling fines
  
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• Quarter of UK drivers confused by motor insurance coverage

  02-10-2015 11:09
  
  Katie Marriner Postonline More than 8.7 million UK drivers do not understand what motor insurance cover they have, according to research from the Chartered Insurance Institute.
  
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• Quizzical questions: 2 October 2015

  02-10-2015 11:00
  
  Test your knowledge of the week’s news with our topical news quiz.
  
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• Quiz of the week - 2 October 2015

  02-10-2015 11:00
  
  Post Online Postonline It's quiz time. Test your knowledge of the week's insurance news.
  
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• Motorists baffled by car insurance, says CII

  02-10-2015 10:55
  
  CII creates Ciindy to help clear up motor insurance queries
  
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• Insurers face pressure to publish Solvency II financial results

  02-10-2015 10:48
  
  But analysts concerned about comparability of results within UK and across Europe
  
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• PPI claims could face 2018 deadline under FCA plans

  02-10-2015 10:37
  
  Regulator consulting on possible 2018 deadline for compensation, which has so far paid out more than £20bn to consumersCustomers who were mis-sold payment protection insurance could be forced to make their claims for compensation by the spring of 2018 under new proposals being drawn up by the Financial Conduct Authority (FCA) - in a move that could begin draw a line under the banking industry’s costliest mis-selling scandal.The regulator faced pressure from the industry to set a dead
  
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• FCA to consult on introducing PPI complaint deadline

  02-10-2015 10:33 via insuranceage.co.uk
  
  Trade body says it will also consult on funding a consumer communications campaign.
  
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• Willis sells 16.9% share of Miller to US-based BB&T

  02-10-2015 10:21
  
  Deal follows on from Willis’ Miller takeover earlier this year.
  
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• Man claimed falsely that crashed car was stolen, court told

  02-10-2015 10:13
  
  Suffolk man denies lying to police and making false insurance claim
  
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• Insurers call for collective action on climate change

  02-10-2015 09:43
  
  Industry executives write open letter to Bank of England governor Mark Carney
  
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• FCA plans deadline for PPI complaints

  02-10-2015 09:21
  
  Regulator to consult on plans to introduce Spring 2018 cutoff date
  
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• Willis sells 16.9% Miller stake to US broker BB&T

  02-10-2015 08:56
  
  Sale comes only four months after Willis bought 85% stake in the Lloyd’s broker
  
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• Insurance Fraud Awards 2015: Scott Clayton and Aviva among winners

  02-10-2015 08:33
  
  Jonathan Swift Postonline Scott Clayton, claims fraud and investigations manager at Zurich, was cheered to the stage when he won the achievement award at the 2015 Fraud Awards last night.
  
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• Tan takes on MPI Generali CEO role

  02-10-2015 05:12
  
  Andrew Tjaardstra Postonline Malaysia's MPI Generali Insurans has appointed veteran Oliver Tan as its CEO.
  
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• BHSI builds out executive and professional lines platform

  02-10-2015 04:49
  Berkshire Hathaway Specialty Insurance (BHSI) has expanded its
  presence in the US executive and professional lines space with a
  quartet of senior hires.
  The Peter Eastwood-headed carrier has appointed Danielle
  Librizzi as senior vice president (SVP) and head of professional
  lines and Will Fahey as SVP and head of commercial executive
  lines.
  Meanwhile, Joe Schrancz is named vice president (VP) and head of
  architects and engineers professional liability, with Maura Verrone
  VP and head of private a
  
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• Swiss Re's insurance arm buys Australian aviation business

  02-10-2015 04:46
  
  Andrew Tjaardstra Postonline Swiss Re Corporate Solutions has bought the whole of Assetinsure Holdings' aviation business for an undisclosed sum.
  
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• Hub confirms Treanor specialty programme launch

  02-10-2015 02:44
  Hub International has confirmed the launch of a new programme and
  specialty unit led by Chris Treanor in a move first revealed by
  The Insurance Insider in early August.
  As previously reported, the former Marsh executive took the role
  to develop the new division at Hub International after leaving his
  position as president of Preferred Concepts in July following its
  acquisition by Alliant.
  And in a statement today (1 October) the US retail broking giant
  unveiled a new wholly owned...
  
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• In-depth: Working with wealth

  02-10-2015 01:58
  
  High Net Worth (HNW) can be a lucrative area for brokers who understand the market and the high end lifestyle of the HNW client.
  
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• IPT hike causes technological headache

  02-10-2015 01:51
  
  Insurers and software houses take differing approaches to implementing IPT increase
  
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• Profile: Back in charge

  02-10-2015 01:50
  
  After a stint at Arthur J. Gallagher, Aston Scott executive chairman Peter Blanc tells Insurance Age why he is glad to be wearing the boss’ shoes again
  
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• Commissioning editor’s letter - October 2015

  02-10-2015 01:48 via insuranceage.co.uk
  
  “Happily, I feel, and having met with many of you over the last year, brokers will rise to whatever the future challenges will be”
  
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• Adding value in an ‘aggregator-led’ chain

  02-10-2015 01:46 via insuranceage.co.uk
  
  Technology has moved clients towards price-focused aggregators, but there is still room for traditional broking in the household market, says François-Xavier Boisseau
  
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• Unity can help us tackle fraud

  02-10-2015 01:43 via insuranceage.co.uk
  
  As ‘slips and trips’ takeover from ‘crash for cash’ as fraudsters’ favourite plots, Graham Gibson says the industry must work together to identify fraud
  
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• The party is over (well almost)

  02-10-2015 01:38
  
  The acquisition by Marsh of Jelf could see an end to 15 years of the consolidators’ dominance, says Tony Cornell
  
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• Newbie news: New kids on the block

  02-10-2015 01:32
  
  In the first of a new series Insurance Age tackles the challenges of starting up a new broker business by interviewing the people running firms that have received FCA authorisation within the past 12 months
  
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• Broking success: Lark's ascending

  02-10-2015 01:22
  
  Lark Group managing director Stephen Lark explains how growth is coming organically as well as through acquisitions and investment in IT
  
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