Insurance news

• Tokio Marine HCC hires Silverman to head primary casualty

  13-09-2016 23:06
  Tokio Marine HCC (TMHCC) has hired Paul Silverman to head up its
  primary casualty division, The Insurance
  Insider can reveal.
  The executive was most recently at AIG's excess and surplus
  lines (E&S) business Lexington.
  In his new role he will report to Christopher Day, president of
  the specialty insurer's casualty group.
  Commenting on the hire, TMHCC CEO Chris Williams said: "As
  a leader in specialty insurance, growing and maintaining a strong
  general casualty underwriting operation is very i
  
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• Rate stability the best-case scenario for reinsurers: KBW

  13-09-2016 20:40
  The best reinsurers can hope for at the key 1 January renewal is
  rate stability, while a light hurricane season could drive greater
  competition towards the end of the year, according to Keefe,
  Bruyette & Woods analyst William Hawkins.
  Based on conversations with buyers and sellers of reinsurance at
  the Monte Carlo Rendez-Vous, Hawkins said his prediction is for a
  modest global rate cut, with renewals flat to down 1 percent on
  average.
  The analyst suggested the forecast was a...
  
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• Towergate hires Leathem to head London UW platform

  13-09-2016 19:09
  UK intermediary Towergate has announced the creation of a new
  London underwriting platform, to be led by David Leathem.
  In July, The Insurance Insider
  revealed Leathem, a founder and underwriting partner at Channel
  Syndicate, had resigned almost six years after joining the
  Scor-backed Lloyd's insurer.
  The new Towergate unit will focus on establishing and developing
  specialist London market product lines and aims to provide a
  "unique entrepreneurial" opportunity for the "very
  best" underwriting c
  
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• LMG brand research to complete by year-end

  13-09-2016 19:09
  The London Market Group (LMG) will finish its research into
  developing a brand strategy for the London insurance industry by
  the end of the year, CEO Benedict Reid told The
  Insurance Insider.
  Formerly described as a kitemark, the strategy is being
  developed to better promote the London market overseas, but could
  well include the creation of an emblem to advertise the
  industry.
  "Expect the work to be through by the end of the
  year," Reid said, adding that there was...
  
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• ABI Fraud Conference highlights the risk of cyber-fraud

  13-09-2016 18:34
  
  Medium and expanding businesses have the most to fear from cyber-fraud, according to speakers at the Association of British Insurers Fraud Conference.
  
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• UK government to examine Solvency II options post-Brexit

  13-09-2016 17:49
  The UK Treasury Select Committee has launched an inquiry to
  determine whether there are "options" for UK insurers and
  the Solvency II regime after leaving the EU.
  Commenting on the inquiry, Andrew Tyrie, Conservative chairman
  of the committee, said Brexit provided an opportunity for the UK to
  "assume greater control of insurance regulation".
  Tyrie continued that Solvency II's manifest shortcomings
  included the failure to secure value-for-money over its
  implementation, adding: "The Treasury Commi
  
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• SSP CEO admits Pure users do not have “full access” to system

  13-09-2016 17:00
  
  Brokers complain they cannot access documents and of slow systems following SSP’s assertion that 90% of those affected by the outage were back online.
  
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• Henley accepts Lloyd's discreditable conduct charge

  13-09-2016 16:25
  Anna Henley, a former underwriter at Tokio Marine Kiln (TMK),
  has accepted Lloyd's Enforcement Board charges related to
  improper appropriation of confidential information from her
  employer.
  Henley was an underwriter within the aviation insurance division
  at TMK's Syndicate 510.
  She resigned from that position on 23 July 2015 to join rival
  managing agent ANV.
  During her notice period, Henley emailed certain confidential
  material without the company's permission, the Lloyd's
  Enforcement Board said
  
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• Insurtech start-ups enablers to insurance, says PwC

  13-09-2016 16:07
  
  PwC explains how industry should approach insurtech
  
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• Success of 'fundamentally dishonest' defence could 're-write' rule book for insurers

  13-09-2016 15:47
  
  A landmark ‘fundamentally dishonest’ ruling could 'rewrite the rulebook’ for defending disingenuous passenger claims.
  
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• Treasury Committee Brexit investigation could lead to the end of Solvency II

  13-09-2016 15:45
  
  The Treasury Committee is set to examine Solvency II in the wake of Brexit, with the possibility of exiting the regulatory regime entirely.
  
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• Esure announces demerger of Gocompare.com

  13-09-2016 15:03
  London-listed motor carrier Esure has unveiled plans to demerge
  from its price aggregation website Gocompare.com.
  The move would see Gocompare become a separate listed company on
  the London Stock Exchange. The demerger is anticipated to cost
  around £19mn ($25.2mn).
  Prior to completion, Gocompare will draw down on a new
  £75mn debt facility. The website will then pay Esure a cash
  dividend of approximately £63mn.
  The £63mn will be used to cover fees incurred by the
  insurer r
  
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• 'Social network for insurance' aims to revolutionise the market

  13-09-2016 15:00
  
  Insurecore, a social network for insurance professionals, will be holding a workshop tomorrow night with young brokers and insurers ahead of its November launch.
  
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• Matthew Bray resigns from CEO role at Lorica

  13-09-2016 13:51
  
  Chief executive departs after seven years at the broker.
  
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• Esure decision to demerge Go Compare not driven by solvency II

  13-09-2016 13:49
  
  After its decision to demerge the price comparison site Go Compare and list it in the stock market, Esure have denied claims that the move was driven by solvency II.
  
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• ABI says insurers detected more than 130,000 fraudulent claims in 2015

  13-09-2016 13:36
  
  Association highlights rise in dishonest liability insurance claims such as “slip and trip”.
  
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• Government to investigate Solvency II

  13-09-2016 13:29
  
  Treasury Committee sets terms for Solvency II inquiry as government says Brexit could be a chance for UK to assume greater control of insurance regulation.
  
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• AIG former chairman Hank Greenberg trial to begin today

  13-09-2016 12:55
  
  Former AIG chairman Hank Greenberg is set to go to trial today on charges of accounting fraud dating back 16 years.
  
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• AIG former chairman Hank Greenberg trial begins

  13-09-2016 12:55
  
  Former AIG chairman Hank Greenberg is set to go to trial today on charges of accounting fraud dating back 16 years.
  
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• Novae bolsters its cyber team

  13-09-2016 12:23
  Listed Lloyd's insurer Novae has made three additions to its
  cyber team, the carrier announced today.
  Jo Chadha joins as deputy unit head from Beazley, where she
  spent 13 years underwriting a portfolio of North American and
  international professional liability, technology and cyber
  risks.
  Michael Shen has been appointed head of cyber innovation, and
  joins from Liberty Specialty Markets, while Sharif Gardner becomes
  head of training, having arrived from Protection Group
  International.
  The trio wi
  
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• James Hallam launches sport division

  13-09-2016 11:56
  
  Broker recruits new team from Integro.
  
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• Norwegian tie-up with Gable hangs over solvency concerns

  13-09-2016 11:44
  
  One of the largest trade organisations in Norway has asked its broker for alternative cover arrangements after its insurer, Lichtenstein-insurer Gable Holdings, stopped writing new business.
  
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• £25m worth of fraud uncovered by insurers every week

  13-09-2016 11:42
  
  £25m of potential frauds are being uncovered every week by insurers, the Association of British Insurers has claimed.
  
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• Brexit just 'extra hassle': Lloyd's CEO

  13-09-2016 10:50
  Lloyd's CEO Inga Beale played down the challenge to the
  market's prospects posed by the pending Brexit, describing the
  outcome of the recent referendum as "extra hassle".
  Speaking to The Insurance Insider at
  the Monte Carlo Rendez-Vous, she said: "Most people I
  speak to are not concerned about it," acknowledging that
  market modernisation and broader distribution challenges are more
  pressing issues for the market.
  Beale also gave a strong signal as to the likely path that
  Lloyd's will take as...
  
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• AIG and Dechert partner up to provide Brexit advice

  13-09-2016 10:22
  
  AIG UK and global law firm Dechert have partnered up to offer legal advice at no additional cost to AIG policy holders regarding the UK's full divorce from the EU.
  
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• Esure confirms Gocompare demerger plan

  13-09-2016 10:02
  
  Aggregator to seek stock exchange listing before the end of the year.
  
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• Video 2: Expertise from A - Z Marine Cargo

  13-09-2016 10:00
  
  Allianz's Ben Woodman talks market trends and broker opportunity in part two of our video series.
  
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• Esure's Gocompare.com demerger 'driven by Solvency II'

  13-09-2016 09:59
  
  Analyst assesses reasons for aggregator spin-off
  
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• Esure decides to demerge GoCompare.com

  13-09-2016 09:48
  
  Esure has decided to demerge its GoCompare.com price comparison site and list it on the stock market, it has been revealed today.
  
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• Esure decides to demerge Go Compare

  13-09-2016 09:48
  
  Esure will demerge its Go Compare price comparison website and list it on the stock market, it has been revealed today.
  
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• Insurers uncovering more frauds

  13-09-2016 09:41
  
  Fraud crackdown succeeding, says ABI
  
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• Chris Beazley to become LMG CEO

  13-09-2016 09:23
  Chris Beazley, head of global clients for reinsurance at Amlin,
  is set to become the next CEO of the London Market Group (LMG),
  The Insurance Insider can reveal.Sources have indicated that a contract is yet to be signed, but
  that Beazley was the clear frontrunner for the role.Beazley has been at Amlin since 2007, having held a number of
  roles, including managing director of the reinsurance practice and
  marine underwriting and operations manager.Before joining Amlin he worked...
  
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• Esure to demerge Gocompare.com

  13-09-2016 09:13
  
  Insurer announces demerger plans for aggregator site
  
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• Jail for uninsured driver who asked police to stop chasing him

  13-09-2016 08:49
  
  Insurance-dodger dialled 999 to ask police to call off chase
  
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• Jail for driver who asked police to stop chasing him

  13-09-2016 08:49
  
  Insurance-dodger dialled 999 to ask police to call off chase
  
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• Under attack: how widespread is appointed representative mis-selling?

  13-09-2016 08:00
  
  The Financial Conduct Authority recently fired the first shots over mis-selling by appointed representatives but how far-reaching is this problem and what can be done to stop it?
  
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• Fraudster jailed for bogus car smash

  13-09-2016 07:30
  
  West Midlands man guilty of £15,000 fraud
  
  Read more

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