Insurance news

• JLT settles Willis legal dispute for £22mn

  09-04-2016 17:24
  Broker JLT has settled a case brought by Willis Towers Watson
  regarding the hiring of its specie team last year for approximately
  £22mn.
  In a stock exchange announcement, JLT said a provision for the
  amount would be charged as part of its second quarter results to
  cover both the settlement and associated costs, which would be in
  addition to previous legal provisions.
  The exact terms of the settlement would remain confidential, JLT
  said.
  The trial had been due to begin...
  
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• BoE appoints deputy governor for prudential regulation

  09-04-2016 17:24
  The Bank of England (BoE) has appointed Sam Woods as deputy
  governor for prudential regulation and CEO of the Prudential
  Regulation Authority (PRA), the central bank announced today (8
  April).
  The appointment is effective from 1 July 2016 and is for a
  renewable term of five years.
  He succeeds Andrew Bailey, who will leave at the end of June to
  become the head of the Financial Conduct Authority (FCA).
  Woods will continue in his role as executive director of
  insurance...
  
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• Re flood-risk homes … at last, affordable cover

  09-04-2016 08:00
  
  Government-backed scheme has started offering cover to at-risk householders, but there still are exclusionsFlood Re, the scheme designed to offer affordable insurance to 350,000 UK homes at high risk of flooding, has finally opened for business. But thousands of householders may have to switch home insurer to take advantage.Developed by the insurance industry, with government backing, Flood Re was set up after insurers said they were no longer prepared to offer universal flood cover to household
  
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• Car hire ‘super CDW’ cover: your policy should be to avoid this rip-off

  09-04-2016 08:00
  
  Companies are ever more desperate to get you to buy their wildly expensive bolt-ons - because most their profits come from themWhen did approaching a car rental desk turn into a game like Call of Duty: Black Ops 3, dodging financial grenades while engaging in hand-to-hand combat with an evil zombie, albeit dressed in a corporate uniform with a supercilious smile?Rental companies are using ever more desperate tactics to force you into buying their wildly expensive “super CDW” insuranc
  
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