Insurance news

• Government's CMC review given lukewarm welcome by insurers

  05-10-2015 17:43
  
  Marcus Alcock Postonline Insurers have responded to the government’s review into claims management companies by suggesting new legislation and reducing the claim period for minor injuries as ways of tackling rogue CMCs.
  
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• Manchester Underwriting increases capacity with Great Lakes

  05-10-2015 17:14 via insuranceage.co.uk
  
  Amlin and Great Lakes Reinsurance will provide 50% each of the underwriter's capacity.
  
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• Pen Underwriting loses four to Modus

  05-10-2015 15:35 via insuranceage.co.uk
  
  MGA expands team with new hires from Arthur J Gallagher-owned Pen Underwriting.
  
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• Modus takes four from Gallagher

  05-10-2015 15:35 via insuranceage.co.uk
  
  MGA expands team with new hires from Pen Underwriting.
  
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• Fears of losses in France after flooding

  05-10-2015 15:26
  Powerful storms and severe flooding in the south of France over the
  weekend have prompted concerns about insured losses.
  RMS Worldwide said that while it was too soon for damage
  estimates, France would declare an Etat de Catastrophe Naturelle
  (state of natural disaster) in the region, enabling eligible flood
  claims to be processed quickly.
  "Although heavy rain is not unusual in southern France at
  this time of year, the very slow-moving nature of the storm in
  addition to the intensity...
  
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• Crash for cash fraudster fails to show for sentencing

  05-10-2015 13:49
  
  James Verrinder Postonline Police are appealing for information to help trace a crash for cash fraudster who failed to show for sentencing.
  
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• Experian data hack concerns software houses

  05-10-2015 13:19
  
  Experts warn that hacking is a worldwide problem that brokers and insurers need to protect themselves against, or face fines.
  
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• Markel hires Argo talent to head management liability team

  05-10-2015 13:08
  Specialty insurer Markel International has hired Argo Global's
  Antony Hope as senior underwriter and head of management liability,
  it announced today (5 October).
  Hope will manage and underwrite the international portfolio of
  management liability business for the company's professional
  and financial risks division (PFR), reporting to divisional
  managing director James Hastings.
  He replaces Patrick White, who as of today takes on the internal
  management role of general manager for the professiona
  
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• Ageas becomes latest insurer to join IFR

  05-10-2015 12:29
  
  Callum BrodiePostonline Ageas has become the latest insurer to join the Insurance Fraud Register.
  
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• Ageas joins the Insurance Fraud Register

  05-10-2015 12:17
  
  Ageas Insurance claims boss Rob Smale has called on more insurers to sign up to the IFR
  
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• Biba calls on FCA to spend fees “wisely”

  05-10-2015 12:14
  
  Call follows the news that regulator may charge higher fees to pay for marketing campaign on PPI time limits.
  
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• Modus makes four more hires from Gallagher

  05-10-2015 11:43
  
  Launched at the start of 2015 MGA plans to write more than £100m in GWP in five years
  
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• Antony Hope joins Markel International

  05-10-2015 11:13 via insuranceage.co.uk
  
  He becomes head of management liability account.
  
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• Allianz promotes former trainee to claims strategy role

  05-10-2015 11:09
  
  James Verrinder Postonline Former Allianz trainee graduate Ibi Moghraby has been promoted to the newly-created role of head of claims strategy and customer experience.
  
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• Capita and Apollo Global Management make bids for Xchanging

  05-10-2015 10:06
  
  James Verrinder Postonline Xchanging has received takeover approaches from Capita and Apollo Global Management, the company has told the London Stock Exchange.
  
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• Apollo and Capita compete to take over Xchanging

  05-10-2015 09:57
  London-listed outsourcing and insurance services firm Xchanging has
  received acquisition approaches from rival firm Capita and private
  equity house Apollo, it informed the stock exchange this morning (5
  October).
  Capita began its pursuit of Xchanging on 11 August, submitting a
  non-binding conditional proposal for 140p a share in cash which was
  rejected by Xchanging's board for undervaluing the company.
  On 25 August, Capita returned with an improved offer of 145p a
  share, but this too was rejecte
  
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• Businesses say Cyber risk not fully understood

  05-10-2015 09:41
  
  Aon survey shows complacency about reputational risk
  
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• Crash for cash fraudsters 'not in the country' for alleged collision

  05-10-2015 09:24
  
  Two men from west London were charged with fraud by false representation, among other offences 
  
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• Capita, Apollo in rival £400m bids for Xchanging

  05-10-2015 09:11
  
  Bids boost back office firm’s shares by 49%
  
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• Financial services sector ‘most frustrating' for customer service

  05-10-2015 09:00
  
  James Verrinder Postonline Nearly a quarter of UK consumers have ranked the financial services sector as the most frustrating in terms of customer service.
  
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• Prudential considers leaving UK as Solvency II draws close

  05-10-2015 08:59
  
  The insurer will look to sell its UK operations or push them in to a seperate listed company
  
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• Charles Taylor sells Bestpark stake

  05-10-2015 08:45
  
  Latest move in strategy of selling non-life run off insurers
  
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• Regulators agree capital requirements for world's nine largest insurers

  05-10-2015 05:45
  
  Andrew Tjaardstra Postonline The world's largest insurers will need to ensure they are holding more capital after a G20 Financial Stability Board-sponsored assessment.
  
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