Insurance news

• Philippines $500mn cat credit facility approved

  23-12-2015 14:45
  The World Bank has approved a $500mn contingent line of credit for
  the Philippines that could be drawn down in the event of a natural
  disaster, the organisation announced.
  The facility is the second such deal the World Bank has arranged
  for the country following a similar financing transaction in
  2011.
  The Philippines can access the credit if the country's
  president has declared a state of calamity, and has the flexibility
  to use funds as needed. The deal can be...
  
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• Christmas Q&A with Simon Henderson

  23-12-2015 14:13
  
  Henderson reveals Darwin Clayton's schemes ambitions for 2016.
  
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• Customers hit by flooding get policy extension from Euler Hermes

  23-12-2015 13:06
  
  Peta Fuller Postonline Trade credit insurer Euler Hermes is offering a 30 day policy extension for clients hit by Storm Desmond or subsequent flooding.
  
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• Axa quadruples Tianjin BMW reserve

  23-12-2015 12:42
  BMW's insurers are facing losses of EUR103mn ($115mn) from
  the Tianjin port explosions, four times higher than the initial
  October estimate, according to documents seen by The
  Insurance Insider.
  Axa, the lead insurer on the automobile manufacturer's
  policy, advised brokers this week that it had quadrupled the loss
  reserve after Chinese authorities pushed for an early final
  settlement of the claim, the documents revealed.
  A preliminary reserve of EUR23mn ($25mn) was set for the loss in
  October af
  
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• Storm Eva to bring more rain to northern England

  23-12-2015 12:41
  
  Peta Fuller Postonline More bad weather and possible flooding is on its way to northern England ahead of Christmas, with Storm Eva set to bring heavy rains and up to 70mph winds in coming days.
  
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• Trak Global hires CIS engineering boss Street

  23-12-2015 12:14
  
  Callum BrodiePostonline Telematics specialist Trak Global has hired The Cooperative Insurance Service’s former national engineering and technical manager Nick Street to the new position of insurer solutions and claims manager.
  
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• Trak Global makes senior hire for claims telematics growth

  23-12-2015 11:52
  
  Nick Street will join the tech firm after eight years at The Cooperative Insurance
  
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• CSC buys another 10% of Xchanging shares

  23-12-2015 11:41
  Computer Sciences Corporation (CSC) has taken another step towards
  winning the race for Xchanging this morning (23 December) by buying
  another 9.9 percent of the UK outsourcing firm's shares.
  According to a London Stock Exchange filing, CSC bought the
  shares from Capita, which pulled out of the process on 16 December,
  at 190p a share. This is the same price that CSC would pay for
  Xchanging's shares if it succeeds in its bid.
  In the aggregate, CSC has received the...
  
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• Cobra pre-tax profits down in 2015

  23-12-2015 11:38
  
  Group says reduction linked to investment in acquisitions plan.
  
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• Xchanging and CSC deal moves closer

  23-12-2015 11:34
  
  Peta Fuller Postonline A deal between technology provider Xchanging and US-based Computer Sciences Corporation (CSC) is closer today with CSC purchasing another 10% of Xchanging shares.
  
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• Slater & Gordon facing legal action after Quindell purchase

  23-12-2015 10:53
  
  The firm’s share price has slumped since purchasing the professional services arm of the now named Watchstone Group
  
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• Christmas Q&A with Dave Clapp

  23-12-2015 10:39
  
  The County Group CEO reflects on 2015 and reveals the moment that shocked him the most.
  
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• Aviva Ventures makes first tech start up investment

  23-12-2015 09:36
  
  The venture capital arm of the insurer will pour £2m in to Cocoon Alarm Limited
  
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• Four jailed after elaborate crash for cash investigation

  23-12-2015 09:11
  
  Keoghs legal firm acted on part of insurer Direct Line Group for the case
  
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• SunLife study finds 10 million homes could be underinsured

  23-12-2015 08:52
  
  Underinsurance is an issue that has long plagued the issue, with the FCA looking to address it in recent thematic reviews
  
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