Insurance news

• Kiskadee rebrands amid expansion into collateralised re

  11-09-2016 14:48
  Hiscox is rebranding its Kiskadee asset management platform and
  moving into the collateralised reinsurance market from 1 January
  2017, the company has announced.
  The platform will be known as Hiscox Re Insurance Linked
  Strategies.
  To date the Lloyd's (re)insurer has fronted all the business
  that it has directed into its ILS funds and managed accounts, which
  now have more than $1bn of assets under management.
  However, the carrier said it will continue to front business for
  the ILS platform and...
  
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• UK Treasury targets 2017 for ILS legislation

  11-09-2016 12:41
  The UK Treasury has confirmed it will put forward the final
  regulations for implementing the London insurance-linked securities
  (ILS) framework early next year despite fears that there would be
  delays following the vote for Brexit.
  In a letter to the London Market Group (LMG) seen by
  The Insurance Insider, Simon Kirby,
  economic secretary to the Treasury, said that the role that London
  plays as a global hub for specialist insurance and reinsurance was
  an important part of the export strength...
  
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• Canopius chairman to join Vario as non-exec

  11-09-2016 11:32
  Sompo Canopius chairman Michael Watson is joining ILS structuring
  firm Vario Partners as a non-executive partner, from 1 October.
  Watson led a management buy-out of Lloyd's managing agency
  Canopius and its subsequent sale to Sompo Japan Nipponkoa Insurance
  in 2013. He is also a member of the Council of Lloyd's and a
  board member of the Lloyd's Market Association.
  Watson said Vario's model offered a "genuinely new
  approach to risk modelling and capital management in the insurance
  sector" and that
  
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• Goldcar sells hirers cover they don’t need, or want

  11-09-2016 08:00
  
  Angry customers face ‘hidden’ charges for insurance policies they didn’t ask forJJ-K from London booked a hire car through the website Rentalcars.com.“A week was £139.91 and included collision damage waiver, third-party liability and theft protection. However, when I went to collect the car at the airport, the Spanish rental company, Goldcar, told me that this was a ringfenced deposit and that I would have to pay £206 for the hire. The agent gave me an invoice
  
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• Direct Line charged me less by phone than online as it said I was 'sensible'

  11-09-2016 08:00
  
  I got a quote from the insurer’s website, but when I called up it was more than £100 less – complete madness
  I have stumbled across a quirk in Direct Line’s car insurance calculations that your readers maybe interested in. A few days ago I got a quote on the insurer’s website for £608 per year to insure my new car. When I came to purchase the insurance a few days later, I phoned Direct Line rather than -buying it online. I was staggered when it offered me a qu
  
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• Beware Goldcar – the hire firm that sells cover customers don't want

  11-09-2016 08:00
  
  Angry customers face ‘hidden’ charges for insurance policies they didn’t ask forJJ-K from London booked a hire car through the website Rentalcars.com.“A week was £139.91 and included collision damage waiver, third-party liability and theft protection. However, when I went to collect the car at the airport, the Spanish rental company, Goldcar, told me that this was a ringfenced deposit and that I would have to pay £206 for the hire. The agent gave me an invoice
  
  Read more

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