Insurance news

• Dorian Grey reunited with Greenberg at Starr

  13-07-2016 22:52
  Maurice "Hank" Greenberg's Starr Companies has
  appointed Dorian Grey as president of its Latin America division.
  Grey was at Greenberg's old shop AIG for almost four
  decades, most recently as global product line executive in the
  insurer's oil rig unit, based in London.
  The move has seen the well-respected executive relocate to
  Miami, according to his LinkedIn profile.
  Grey has held a number of senior positions with the US insurance
  giant across the globe.
  As well as assignments in New...
  
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• US Risk set for growth with Kohlberg injection

  13-07-2016 20:16
  US Risk is set for further expansion after agreeing a deal that
  will see private equity firm Kohlberg & Company make a
  significant investment in the specialty underwriting manager and
  wholesale broker, The Insurance Insider
  can reveal.
  Although the terms of the investment have not been disclosed,
  the deal is expected to provide substantial capital resources for
  the company to step up its growth trajectory organically and
  through M&A in the MGA, US wholesale and Lloyd's broker
  space.
  US R
  
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• AGCS appoints North America terrorism underwriter

  13-07-2016 18:54
  Allianz Global Corporate & Specialty (AGCS) has appointed
  Adam Posner as senior underwriter for terrorism and political
  violence insurance in North America, the carrier announced today
  (13 July).
  He will be based in New York and will report to Marcos Garcia
  Norris, regional practice group leader for crisis management in
  North America.
  The appointment is effective immediately.
  Posner joins the company from XL Catlin in London, where he was
  previously a terrorism underwriter.
  Prior to that he
  
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• BIA 2016: People – young achiever, unsung hero, personality, achievement

  13-07-2016 18:32
  
  Young Achiever Award; Unsung Hero; Insurance Personality of the Year; Achievement Award
  
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• Experts urge brokers to abide by the rules following Towergate's £2.6m fine

  13-07-2016 17:39 via insuranceage.co.uk
  
  The FCA says it has previously issued warnings to the industry on the importance of complying with client money rules.
  
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• New underwriting structure will make life easier for brokers, promises Charles Franks

  13-07-2016 17:36 via insuranceage.co.uk
  
  Tokio Marine Kiln brings underwriting into four divisions.
  
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• XL Catlin launches private clients offering

  13-07-2016 17:17
  XL Catlin has set up a private clients team to provide specialty
  insurance coverage for high net worth (HNW) and ultra-high net
  worth (UHNW) individuals.
  The team will be led by the carrier's global head of private
  clients Simon Mobey, who was previously international private
  clients manager at Chubb Insurance.
  He will join the company from 1 January next year.
  Mobey will be joined by private clients insurance chief
  underwriting officer Ann Owen and claims manager Chris Hawkes.
  Both appointments
  
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• Nexus EBA opens Irish branch

  13-07-2016 17:17
  Nexus Underwriting Management's Nexus EBA division is to
  establish a presence in Ireland, the managing general agent
  announced today (13 July).
  The branch will be led by current senior business development
  manager and deputy underwriter for surety Stephen Comerford.
  He will be based in Cork and will become branch manager for
  Ireland.
  Comerford is a surety underwriting specialist and served as a
  surety broker at Orca Financial prior to joining Nexus.
  He spent 12 years as a commercial executive wi
  
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• BIA 2016: General insurer, personal lines insurer, commercial lines insurer

  13-07-2016 15:24
  
  Commercial Insurer of the Year; Personal Lines Insurer of the Year; General Insurer of the Year
  
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• BIA 2016: Transformational deal, outsourcer

  13-07-2016 15:10
  
  Transformational Deal; Outsourced Partner of the Year
  
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• RSA broadens referral network as vet group sweeps in to take credit

  13-07-2016 13:41
  
  RSA has agreed to expand its network of approved veterinary referral centres, but the announcement has already fallen into acrimony.
  
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• BIA 2016: Investing in the profession and diversity

  13-07-2016 13:19
  
  Diversity Award; Investing in the Profession
  
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• Insurers discuss driverless cars consultation in Parliament

  13-07-2016 13:12
  
  Insurers met on Tuesday in Parliament to discuss the government's consultation paper on insurance for driverless cars.
  
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• BIA 2016: The future – digital insurance innovation, technology, start-up

  13-07-2016 13:11
  
  Digital Insurance Innovation of the Year; Technology Award; Start-upAward
  
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• Towergate fined £2.6mn for client and insurer money failings

  13-07-2016 12:06
  The Financial Conduct Authority (FCA) has fined Towergate
  £2.6mn ($3.5mn) for failings in its protection of client and
  insurer money, after the major UK intermediary accumulated a
  £12.6mn shortfall in its client and insurer money bank
  accounts.
  The shortfall went undetected for a number of years due to
  systems and controls weaknesses, the UK regulator said today (13
  July).
  The watchdog has also issued former Towergate client money
  officer and director Timothy Philip a £60,000 i
  
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• TMK completes underwriting revamp

  13-07-2016 12:06
  Tokio Marine Kiln has completed an underwriting restructure by
  cutting seven divisions down to four.
  The new units are property, motor and liability; marine,
  aviation and special risks; accident, health and life; and
  reinsurance. They will all report directly to group chief
  underwriting officer Paul Culham.
  Each division will be capable of writing on both Lloyd's and
  company platforms, while non-London based underwriters will be
  divided according to business line rather than platform or
  location
  
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• Qatar Re makes string of senior appointments

  13-07-2016 12:06
  Qatar Re has named Steve Tidd as chief operating officer in one
  of a trio of senior management appointments, it announced today (13
  July).
  Tidd joined the firm in October last year as head of operations,
  before taking on the COO role from 1 July.
  Prior to joining Qatar Re, Tidd was managing director at Service
  Underwriting Agency Ltd.
  Meanwhile, Andrew Smith has joined Qatar Re from EY as chief
  risk officer, taking up the job on 1 May.
  At...
  
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• Markel International leads $30mn livestock consortium

  13-07-2016 12:06
  Markel International has launched a livestock consortium with
  Tokio Marine Kiln, Pembroke and Aegis London offering $30mn of
  capacity, it announced today (13 July).
  Markel International leads the consortium, which it said would
  offer larger single-risk capacity than is usually available in the
  market.
  The carrier said this reflected the growing scale and value of
  farms and their livestock internationally, as well as the
  increasing incidence of pandemic risks, such as avian flu and foot
  and mouth
  
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• LMG in talks over UK foreign aid cat bond

  13-07-2016 12:06
  The London Market Group (LMG) is launching a white paper today (13
  July) at a House of Commons roundtable to discuss the creation of a
  foreign aid catastrophe bond (FAB).
  The LMG said this would use the planned UK insurance-linked
  securities (ILS) regime to address the risk of natural catastrophes
  in underinsured emerging markets by providing a new approach to
  catastrophe relief backed by commercial capital.
  Under the proposed deal, the UK government would sponsor the
  issuance of an insurance...
  
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• Dual shakes up executive board with senior hires

  13-07-2016 12:06
  A major overhaul of Hyperion's managing general agency Dual
  has seen Stephen Manning appointed chief operating officer (COO)
  and senior market figures David Ibeson and Ralph Snedden brought in
  as non-executive directors.
  Manning, who The Insurance Insider
  revealed was due to leave his role as Sompo Canopius COO at the end
  of the year, will now start at Dual on 5 September.
  Angus Watson, who stepped in as interim COO, will now return his
  position as chief claims officer at...
  
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• Chubb warns of $390mn Q2 nat cat loss

  13-07-2016 12:06
  Chubb has disclosed a $390mn pre-tax net loss from natural
  catastrophes in the second quarter, some $110mn more than budgeted.
  In a US SEC filing yesterday (12 July) Chubb said North America
  nat cat events accounted for $320mn of the net loss total.
  During the quarter Chubb suffered losses from multiple US
  weather events, the Japanese and Ecuadorian earthquakes, the Fort
  McMurray wildfires and the European floods.
  "This estimate exceeds our original internal projection of
  $280mn pre-tax," said C
  
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• Chubb makes London cyber appointments

  13-07-2016 12:06
  Chubb has appointed Lauren Webb to the role of cyber underwriting
  manager for the London market, it announced yesterday (12 July).
  Webb was previously senior professional indemnity and cyber
  underwriter for the firm. In her new role she will be responsible
  for underwriting the US, UK and international risks placed via
  Lloyd's and London company market brokers into Chubb.
  Webb reports to Grant Cairns, financial lines manager for Chubb
  in the UK and Ireland, and Trevor Ormes, financial lines produ
  
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• BHSI offers $100mn Asian IPO and D&O limits

  13-07-2016 12:06
  Berkshire Hathaway Specialty Insurance (BHSI) has expanded its
  Asian executive and professional lines offering to include
  capital-raising event and directors' and officers'
  (D&O) coverage.
  In a statement released today (13 July), the company said the
  coverage would include limits of up to $100mn.
  Patrick Ko, BHSI's head of D&O in Hong Kong, said the
  carrier's public offering of securities insurance policy was
  designed to protect against liabilities associated with
  capital-raising transac
  
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• Towergate accepts FCA fine

  13-07-2016 12:06 via insuranceage.co.uk
  
  Consolidator hit by £2.6m fine from regulator for client and insurer money failings.
  
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• Towergate accepts £2.6m FCA fine

  13-07-2016 12:06 via insuranceage.co.uk
  
  Consolidator hit by £2.6m fine from regulator for client and insurer money failings.
  
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• FCA fines Towergate £2.6m

  13-07-2016 11:45 via insuranceage.co.uk
  
  Regulator discovered a number of weaknesses in relation to Towergate's protection of client and insurer money.
  
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• Towergate 'regrets' historical client money rule breach

  13-07-2016 11:35
  
  Towergate said it regrets its failings in protection client money that have led to an FCA fine of £2.632m.
  
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• FCA fines Towergate £2.6m for failing to protect client and insurer money

  13-07-2016 11:34
  
  The Financial Conduct Authority has fined Towergate Underwriting Group £2.6m for failing to protect client and insurer money.
  
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• Markel UK launches technology liability insurance

  13-07-2016 11:30 via insuranceage.co.uk
  
  Insurer rolls out new policy after broker feedback.
  
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• FCA fines Towergate £2.6m for failing to protect client money

  13-07-2016 11:21
  
  The Financial Conduct Authority has today fined Towergate Underwriting Group £2.632m for failings in relation to its protection of client and insurer money.
  
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• Third Tesla crash raises fears over safety of driverless technology

  13-07-2016 11:05
  
  A third Tesla car has crashed using the driverless 'autopilot' feature, raising fears over the safety of the technology.
  
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• BIA 2016: Communication – customer care, brand management and CSR

  13-07-2016 11:05
  
  Customer Care; Brand Management; Business Sustainability/Corporate Social Responsibility Initiative of the Year
  
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• BIA 2016: Major loss; claims initiative – insurer and outsourced; risk consultancy and in-house risk management

  13-07-2016 10:54
  
  Major Loss; Claims Initiative of the Year – Insurer; Claims Initiative of the Year – Outsourced Partner; Risk Management Award – In-House & Insurable Risk Managers; Risk Consultancy
  
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• Tokio Marine Kiln restructures underwriting divisions

  13-07-2016 10:42 via insuranceage.co.uk
  
  Non-London teams to work on sector lines rather than by geographical locations.
  
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• Oliveira leaves Nephila

  13-07-2016 10:33
  The insurance-linked securities (ILS) sector's largest fund
  manager Nephila has confirmed that partner David Oliveira has left
  the firm.
  "We can confirm that David is no longer with Nephila. He
  was part of the team here for 10 years and we appreciate all of his
  contributions to the firm over time," said a spokesperson.
  Oliveira was made a partner in 2012, which Nephila said was in
  recognition of his outstanding contribution since 2005.
  It is unclear where Oliveira will go...
  
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• BIA 2016: Gallery - The entertainment

  13-07-2016 10:30
  Guests at the British Insurance Awards 2016 were entertained by compere comedian Adam Hills, Roland Gift of the Fine Young Cannibals and Billy Ocean
  
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• BIA 2016: Gallery - The awards

  13-07-2016 10:28
  Catch up with the celebrations in the Royal Albeert Hall as the British Insurance Awards 2016 were announced
  
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• BIA 2016: Gallery - Drinks reception and dinner

  13-07-2016 10:27
  Guests start the evening as they mean to carry on - with a drink - and settle down to some dinner
  
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• BIA 2016: Gallery - Arrivals

  13-07-2016 10:26
  The great and the good arrive at the Royal Albert Hall ready for the British Insurance Awards 2016
  
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• Building Block car hire excess product available to Right to Health customers

  13-07-2016 10:14
  
  Right to Health is to offer its customers a car hire excess product from Building Block Insurance.
  
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• Tesla cars in a third Autopilot crash

  13-07-2016 09:44
  
  For the third time in a few weeks, a Tesla electric car has crashed while the driver claimed the car’s self-driving system was switched on.
  
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• Lawyers team up to fight whiplash crackdown plans

  13-07-2016 09:29
  
  The Law Society has joined forces with claimant groups to lobby against the government’s whiplash crackdown.
  
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• Insurance law firm offers home working for staff

  13-07-2016 09:20
  
  Insurance law firm Addleshaw Goddard has told most of its staff they can work regularly from home, the Law Gazette reported.
  
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• Trip claim questioned in court after Facebook comment

  13-07-2016 09:09
  
  A painter and decorator who sued Surrey Council, claiming he tripped on an uneven pavement, could be facing jail for alleged fraud after a Facebook post cast doubt on his story.
  
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• Building Block, Right to Health in car hire excess partnership

  13-07-2016 09:00
  
  Malta-based insurer Building Block has teamed up with UK health insurer Right to Health to sell Building Block’s car hire excess product to their private health customers and their lead generation book.
  
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• Hastings appoints two new non-executive directors

  13-07-2016 08:51
  
  Hastings Group said it has appointed two new non-executive directors.
  
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• Interview: MGAA's James Gerry on what makes an MGA

  13-07-2016 08:10
  
  One of the challenges that James Gerry, the recently elected chair of the Managing General Agents' Association, consistently encounters is over what exactly an MGA is.
  
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