Insurance news

• Only two pass pre-screening for Florida commissioner job

  16-02-2016 21:47
  Just two out of 25 initial applicants for the role of Florida
  insurance commissioner have passed through the early screening
  process to replace the outgoing Kevin McCarty.
  Cornerstone National Insurance president and CFO Kirk Schmidt
  and Jeffrey Bragg, who retired from the US Department of Treasury
  in 2014 after serving as head of the Terrorism Risk Insurance
  Program, were the only applicants to have the relevant experience,
  according to reports.
  Candidates were asked to confirm whether they had
  
  Read more

• Penny Black's Insurance Week - 18 February 2016

  16-02-2016 18:02
  
  Penny Black Postonline Penny is a dedicated fan of food and is proud to say she has eaten snails, frogs legs, ostrich and possibly even horse meat (although not through choice) and she is open to trying anything once.
  
  Read more

• Penny Black's Social World - 18 February 2016

  16-02-2016 18:00
  
  Penny Black Postonline All the latest news from the worldwide web
  
  Read more

• Career Development: L&G Business Quality Awards

  16-02-2016 17:45
  
  Peta Fuller Postonline Legal & General celebrated the best independent financial advisers and network advisers last week, with its annual Business Quality Awards.
  
  Read more

• Advertisement

• Legal Update: Time for insurers to get ready

  16-02-2016 17:31
  
  Hans Alnut Postonline A growing number of cyber incidents means insurers must prepare strategies to deal with a range of new business interruption liabilities.
  
  Read more

• Intellectual Property: Protecting bright ideas

  16-02-2016 17:28
  
  Edmund Tirbutt Postonline It is a sad fact that most businesses only appreciate the value of intellectual property insurance once it is too late. So why is it vital?
  
  Read more

• Women in Insurance: Making the breakthrough

  16-02-2016 17:17
  
  David Worsfold Postonline Despite some recent high-level appointments, women are still lagging behind men when it comes to senior roles in insurance.
  
  Read more

• Schreiber and Maag the latest AIG departures

  16-02-2016 17:01
  American International Group (AIG) has continued its streamlining
  process under CEO Peter Hancock with the departure of two more
  senior executives.
  Chief strategy officer Brian Schreiber and regional operations
  head Seraina Maag are both leaving as part of Hancock's
  continued efforts to shrink the global insurer's
  management.
  Bloomberg first broke the story on Monday (15 February), noting
  that the country heads that reported to Maag would work under the
  commercial and consumer segments, which ar
  
  Read more

• Advertisement

• Editor's comment: Be prepared

  16-02-2016 16:39
  
  Stephanie Denton Postonline With the very definition of insurance being something that provides protection against a possible eventuality, I like to imagine that all insurers must have been scouts.
  
  Read more

• #Postpeople: 16 - 22 February 2016

  16-02-2016 16:23
  
  Peta Fuller Postonline All the latest insurance industry market moves between 16 and 22 February 2016 in full and in one place.
  
  Read more

• Blog: Young driver discrimination is unfair

  16-02-2016 15:36
  
  Ed Rochford Postonline When it comes to young drivers, the rest of the UK should think hard before adopting the punitive measures taken in Northern Ireland, because there are alternatives
  
  Read more

• Blog: Insurance willl drive semi-autonomous cars

  16-02-2016 15:20
  
  Adrian Dobrovicz Postonline Motor insurers are facing a brave new world where personal, infrastructure and products liability will be dominant risk factors - but are they ready for the change?
  
  Read more

• Legacy specialist acquires in Norway

  16-02-2016 14:53
  
  Peta Fuller Postonline Reinsurance legacy specialist Compre has acquired the marine and energy legacy portfolio of a leading Norwegian insurer.
  
  Read more

• Spotlight back on GI equality as government gender pay gap plans are unveiled

  16-02-2016 14:33
  
  Callum BrodiePostonline General insurers are pushing ahead with plans to strengthen workplace diversity and equality in the industry amid government proposals to force large companies to reveal their gender pay gap.
  
  Read more

• 2016 billed as 'year of the disruptors' as insuretech start-ups target market share

  16-02-2016 14:24
  
  Peta Fuller Postonline Digital disruptors are digging out niches and targeting poorly-served sectors as the push for market share ramps up in 2016.
  
  Read more

• Circle Group buys Creative Risk Solutions

  16-02-2016 13:46
  
  Negotiations and talks taking place on other possible acquisitions says Circle chairman Tony Norcott.
  
  Read more

• RLI launches cyber liability unit

  16-02-2016 13:06
  US specialty insurer RLI is set to expand into cyber liability
  insurance through its executive products group, it announced today
  (16 February).
  The newly created cyber liability insurance unit will offer
  protection for exposures arising from adverse cyber events
  including data breaches, data loss, malware attacks, disruption of
  service and cyber extortion.
  Sean Scranton and Natasha Richard have been named underwriting
  directors for the unit. Scranton previously worked in IT security
  for RLI, wh
  
  Read more

• Markel Catco names new COO

  16-02-2016 13:06
  Markel Catco has appointed Mark Way as chief operating officer
  with immediate effect, the company announced today (16
  February).
  Way was previously corporate communications director at the
  firm. In his new role, he replaces Ly Lam, who joined the company
  in February 2015 following four years as chief financial officer
  for Aspen Re in Bermuda.
  Markel Catco said that Lam would continue working for the
  company as a consultant, having completed her role in managing
  Catco's sale to Markel, which...
  
  Read more

• IAG appoints new chairman

  16-02-2016 13:06
  Insurance Australia Group (IAG) has appointed Elizabeth Bryan as
  its new chairman, effective from 31 March.
  She will succeed Brian Schwartz, who announced his retirement at
  the company AGM in October after serving seven years as chairman
  and 11 years on the company's board.
  Bryan moves from her position as deputy chairman, which she has
  occupied since June 2015.
  The executive also holds a variety of other roles, including
  chairman of Virgin Australia Limited, a director of Westpac Banking
  Corpor
  
  Read more

• Brit leads Ambridge capacity increase to $175mn

  16-02-2016 13:06
  Brit has led a capacity increase for transactional liability
  specialist coverholder Ambridge Partners to a total of $175mn, the
  specialty carrier announced today (16 February).
  Ambridge specialises in transactional liability insurance
  products with a team of 30 employees based in offices in New York
  and London. The increased capacity for Ambridge will be provided by
  a group of Lloyd's syndicates, with Brit acting as lead.
  Ambridge co-founders Jesseman Pryor and Jeffrey Cowhey
  commented: "This in
  
  Read more

• ArgoGlobal appoints head of claims

  16-02-2016 13:06
  Lloyd's insurer ArgoGlobal has appointed Katie MacGregor as its
  new head of claims.
  She will report directly to COO David Lang.
  MacGregor joins the company after 12 years at Liberty Mutual,
  where she was most recently deputy head of claims and head of the
  commercial lines claims division for Liberty Specialty Markets.
  She was previously head of claims for Liberty Mutual Insurance
  Europe covering a variety of products including financial lines,
  casualty, specialty, property, energy, construction
  
  Read more

• Patrick Snowball: bankers and regulators are ruining the GI market

  16-02-2016 12:59
  
  Jonathan Swift Postonline Many of the UK’s major general insurance companies are suffering because their boards have turned the businesses into pseudo-banks, and manage them accordingly to pacify the authorities.
  
  Read more

• ABI warns Osborne against further rise in IPT

  16-02-2016 12:53
  
  Another rise in IPT would squeeze millions of households
  
  Read more

• ABI warns against further IPT hike in March budget as home premiums rise 3.1% in three months

  16-02-2016 12:52
  
  Callum BrodiePostonline The Association of British Insurers has warned the government against rolling out a further rise in insurance premium tax in the Chancellor’s upcoming budget, as independent research reveals a 3.1% rise in home premiums in three months.
  
  Read more

• Henderson buys Manchester broker John Reynolds Group

  16-02-2016 12:48
  
  Broker to merge new purchase with credit business
  
  Read more

• FinTech Futures relaunches

  16-02-2016 12:36
  
  InsurTech Futures is the new name for the campaign which aims to encourage take-up of tech and innovation in broking.
  
  Read more

• Henderson confirms John Reynolds deal

  16-02-2016 11:49
  
  Broker says all staff will be retained and commits to investing in the business.
  
  Read more

• SME flood scheme to prove 'challenging' to implement despite government talks

  16-02-2016 10:59
  
  Peta Fuller Postonline Efforts to establish an affordable flood insurance solution for small businesses are ongoing at industry and government level, despite concerns that creating a Flood Re type scheme for SMEs will be “fundamentally challenging”.
  
  Read more

• Brit to lead US partner to $175m capacity

  16-02-2016 10:25
  
  Peta Fuller Postonline Brit will help increase capacity at US-based Ambridge Partners to $175m (£120m), with the specialty insurer acting as lead partner to increase Ambridge’s transactional liability facility.
  
  Read more

• Home insurance premiums rise 3.1% since IPT hike - Consumer Intel

  16-02-2016 09:43
  
  However, premiums are considerably lower than they were in 2014
  
  Read more

• Brit to add £121m capacity to US-based MGU

  16-02-2016 09:13
  
  The move is part of Brit’s wider selective expansion into niche global ventures
  
  Read more

• Fitch downgrades Amlin IFR to ‘A’, says outlook is ‘stable’

  16-02-2016 09:03
  
  Ratings agency said new owner Mitsui’s own rating capped Amlin’s
  
  Read more

• Fitch downgrades Amlin IFR to 'A'; Affirms outlook as 'stable'

  16-02-2016 09:03
  
  Fitch said that, in time, it may consider Amlin ‘core’ strategically to its new owners, Mitsui
  
  Read more

• Property damage claims value rising steeply - BLM research

  16-02-2016 08:47
  
  The average value of a property damage claim rose by around 101% in the past ten years
  
  Read more

• Three insurance policies with Aviva, but not one covers our stolen luggage

  16-02-2016 08:00
  
  What’s the point of having insurance if it won’t pay out?After recently flying home from holiday I opted to stay in London with a friend. Overnight, our luggage was stolen from our car parked outside, even though there were no obvious signs of entry. We reported it to the police, who issued an incident number.When I rang Aviva, with whom we have our travel, home and car insurance, we were told that none of the three policies would cover us for the £1,000-plus loss. Continue rea
  
  Read more

• Chubb unveils Asia-Pacific marine underwriting managers

  16-02-2016 07:49
  
  Andrew Tjaardstra Postonline Chubb, the newly merged entity of Ace and Chubb, has promoted two senior underwriters in its marine cargo Asia-Pacific team.
  
  Read more

• Zurich rebalances in Asia-Pacific as premium declines

  16-02-2016 04:51
  
  Andrew Tjaardstra Postonline Zurich's general insurance division has taken corrective steps over the last year in Asia-Pacific to concentrate on more profitable growth.
  
  Read more

Follow @Insurance_UKnws on Twitter!