Insurance news

• Reith returns as Marketform CEO

  14-10-2015 20:38
  Ascot founder and former CEO Martin Reith has returned to the
  market as CEO of Great American-owned Lloyd's managing agent
  Marketform, it was announced today (14 October).
  Reith will replace John O'Neill in November. The current CEO
  will then become director of claims at the company, which operates
  Syndicate 2468 at Lloyd's.
  Market veteran Reith brings with him 25 years of senior
  experience. His former exploits include the highly successful
  establishment of Ascot Underwriting Limited in 2001 wit
  
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• Ghost broker jailed for three years for selling motor cover to crooks

  14-10-2015 17:33
  
  Fahad Mutabazi Abdulatif sentenced following IFED investigation
  
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• CCR pitches insured French flood losses at up to EUR650mn

  14-10-2015 16:05
  French state carrier Caisse Centrale de Reassurance (CCR) has
  estimated the total insured loss from severe flooding in the south
  of France at between EUR500mn ($568.6mn) and EUR650mn ($739.2mn).
  The estimates, published today (14 October), are in line with
  those of the Association Franҫaise de l'Assurance, which
  forecast an insured loss of between EUR550mn and EUR650mn.
  Heavy rainfall on 3 and 4 October caused severe flooding, which
  led the French government to declare an État de Ca
  
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• FCA cancels Ilford-based AAA Insurance's permissions

  14-10-2015 16:03
  
  Regulator says broker has failed to be open and co-operative.
  
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• Post magazine - 15 October 2015

  14-10-2015 15:52
  
  Cecile Brisson Postonline The latest issue of Post magazine is now available for Post subscribers. Download the latest Post iOS app edition on the App Store or read the Post digital edition online.
  
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• You Gov research highlights lack of smartphone insurance

  14-10-2015 15:25
  
  James Verrinder Postonline Despite the UK having the highest levels of smartphone ownership in the world, only around one fifth of users have insurance for their device, according to new research from You Gov and Assurant Solutions.
  
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• FCA cancels Ilford-based broker’s permissions

  14-10-2015 15:23
  
  A A A Insurance Limited was not open and co-operative in dealings with the regulator
  
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• Chairman of Australian regulator linked with FCA top job

  14-10-2015 15:01
  
  Callum BrodiePostonline The chairman of the Australian regulator Greg Medcraft has reportedly been approached by the Financial Conduct Authority with a view to taking over as CEO of the UK watchdog.
  
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• Lucas Fettes & Partners pre-tax profit jumps 59%

  14-10-2015 13:29
  
  Group profits and turnover also increase.
  
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• The Great Debate: Focus on connectivity

  14-10-2015 13:19
  
  Brokers without a digital strategy warned they will be “in trouble” at the Future of Broking Debate.
  
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• Ageas and Virgin Money launch partnership

  14-10-2015 12:18
  
  Katie Marriner Postonline Ageas UK and Virgin Money have launched their home and motor strategic partnership that was announced in 2014.
  
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• Ageas strikes home and motor partnership with Virgin Money

  14-10-2015 12:13
  
  The deal will see Ageas underwrite all of Virgin Money’s home products 
  
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• PartnerRe estimates $50mn-$70mn Tianjin loss

  14-10-2015 11:41
  PartnerRe has become the latest carrier to provide an initial loss
  estimate for the explosions in Tianjin, China in August, revealing
  its net pre-tax cost should be between $50mn and $70mn.
  The losses will be recorded in the Bermudian's third quarter
  results under PartnerRe's global P&C, specialty,
  catastrophe and North America sub-segments.
  The reinsurer said the estimate was net of retrocession and
  reinstatements and based on information received from cedants, as
  well as analysis of its ex
  
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• Capita makes final cash offer for Xchanging

  14-10-2015 11:41
  London-listed Xchanging has agreed terms this morning (14 October)
  for rival Capita to acquire it for a recommended final cash offer
  of 160p a share.
  However, the outsourcing and insurance services firm has
  confirmed it is still in talks with Apollo about a 170p bid. Apollo
  now has 53 days to decide if it wants to announce a firm intention,
  or walk away without making an offer.
  In a statement to the stock exchange earlier today, Capita said
  that its...
  
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• Timmins leaves Das as COO role made redundant

  14-10-2015 11:27
  
  Katie Marriner Postonline Das chief operating officer Paul Timmins is to leave the company due to his role being made redundant, a spokesman has confirmed.
  
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• Cross-sector fraud matching will help tackle application fraud

  14-10-2015 10:43
  
  Testing of Cifas and Hill Dickinson data has revealed links between false motor claims and other fraudulent activity
  
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• Tune in to webinar today at 11:00AM on achieving customer service excellence

  14-10-2015 10:36
  
  Jonathan Swift Postonline As we enter the age of the customer, never before has the insurance industry been held to such high expectations.
  
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• Insurance fraudsters operating cross-sector, research finds

  14-10-2015 10:35
  
  Katie Marriner Postonline Fraud data from other sectors can help insurers identify and tackle policy application and claims fraud, reducing the financial impact of insurance fraud on the industry and genuine customers, according to a new report from Cifas and Hill Dickinson, published today (14 October).
  
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• Capita bid of £412m recommended by Xchanging board

  14-10-2015 10:25
  
  Callum BrodiePostonline The board of Xchanging has recommended that shareholders accept a £412m bid for the company that has been lodged by Capita.
  
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• Cyber crime to officially become UK's most common offence

  14-10-2015 09:35
  
  The Office for National Statistics (ONS) plans to issue new statistics on Thursday which will include cyber crime for the first time
  
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• Fitch raises Hastings' outlook to 'positive'; Affirms IDR at 'B+'

  14-10-2015 09:12
  
  Outlook revision follows completion of Hastings’ IPO
  
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• Xchanging board backs Capita's £412m offer

  14-10-2015 09:08
  
  But Xchanging confirmed it was still in talks with Apollo
  
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• You need the bulldog spirit to get an insurance claim sorted by Churchill

  14-10-2015 08:00
  
  It told me it can’t deal with my case but forbids me from contacting the firm it has passed it on toOn 4 July I was told by a parking attendant that someone had smashed into my parked car. The attendant had written down the details and had CCTV footage capturing the incident. I advised my insurance company, Churchill. It had the car repaired but told me I would have to pay the excess of £200. Given the evidence available, I was optimistic that I would recover this.By the end of Augus
  
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• A-Plan eyeing 3-4 deals after hire of new acquisitions head

  14-10-2015 07:30
  
  Company also close to hiring new acquisitions team member
  
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