Insurance news

• BMW accelerator chooses insurtech start-up to join its first cohort

  28-09-2016 16:51
  
  BMW’s Innovation Lab is the first fintech accelerator for the automotive sector
  
  Read more

• Aon launches inclusive cyber policy

  28-09-2016 16:05
  
  Insurance covers against system failures, internal mistakes, regulation and more
  
  Read more

• A2J claims on insurer trust crisis is ‘pot and kettle moment’

  28-09-2016 16:04
  
  A report from claims lawyers saying the public don’t trust insurers is “one of the year’s best pot and kettle moments”, according to the Association of British Insurers.
  
  Read more

• Greenberg takes to stand in fraud trial

  28-09-2016 14:53
  Former AIG chairman and CEO Hank Greenberg has said he was
  "trying to teach a lesson" to managers when he refused to
  take out reinsurance for the carrier's underperforming auto
  warranty book in the early 2000s.
  The 91-year-old executive took to the stand in a New York court
  yesterday as he faced questioning as part of an ongoing trial into
  fraud allegations.
  The New York Attorney General's office is attempting to
  prove that Greenberg approved two financial exercises between 2000...
  
  Read more

• Advertisement

• Florida regulator approves 14.5% workers' comp hike

  28-09-2016 14:53
  The Florida Office of Insurance Regulation has granted
  contingent approval to an average state-wide increase of 14.5
  percent for workers' compensation policies.
  The hike will become effective from 1 December for all new and
  renewal business, with no change for policies currently in
  force.
  The move follows an initial request in May by industry
  representative body the National Council on Compensation Insurance
  for a 19.6 percent rate increase to address issues raised by a
  series of legal cases in
  
  Read more

• AIG-Hamilton-Two Sigma JV to begin with BOP cover

  28-09-2016 14:53
  AIG, Hamilton and Two Sigma's insurance platform for small
  to medium-sized enterprises (SMEs) has been named Attune and will
  begin by offering business owner's policy (BOP) coverage in the
  coming months.
  In an update today, the joint venture (JV) said that once it had
  built the vehicle's infrastructure it would begin rolling out
  its products.
  First off the line would be a BOP product developed by Bermudian
  Hamilton, with umbrella to follow in mid-2017, auto in late 2017
  and then...
  
  Read more

• R&Q strikes legacy solicitors' reinsurance deal

  28-09-2016 13:34
  Legacy specialist Randall and Quilter (R&Q) has agreed a
  loss portfolio transfer reinsurance deal with the UK-based
  Solicitors Indemnity Mutual Insurance Association (SIMIA).
  The deal, processed through the company's Maltese operation,
  will provide reinsurance coverage for SIMIA's legacy
  solicitors' professional indemnity coverage. The company ceased
  writing business in 2011.
  R&Q said it intended to effect a Part VII transfer for the
  book to R&Q Malta later this year or in 2017, subj
  
  Read more

• Social selling: Taking advantage of social media

  28-09-2016 12:16
  
  Konsileo founder John Warburton explains why certain channels can enhance the broker proposition.
  
  Read more

• Advertisement

• FCA keeping 'watchful eye' on firms' culture

  28-09-2016 12:15
  Andrew Bailey, chief executive of the UK Financial Conduct
  Authority, has warned the regulator is keeping a "watchful
  eye" on financial services companies as rules that govern
  culture start to bed down.
  Writing in The Guardian newspaper, Bailey said the new
  senior managers and certification regimes were progressing well six
  months on, but that he recognised that culture change would take
  time.
  In addition, he criticised firms that have overlapping or
  unclear allocation of responsibilities, as we
  
  Read more

• CIRC processing 25 local reinsurer applications: reports

  28-09-2016 12:15
  Around 25 local companies have applied for a reinsurance licence to
  trade in China, according to local media reports.
  The Economic Daily reported the China Insurance Regulatory
  Commission (CIRC) is currently processing applications from
  prospective companies including Asia-Pacific Reinsurance, Tianyuan
  Re and Huayu Re.
  There are currently three local reinsurers operating in mainland
  China: China Re, PICC Re and Qianhai Re, while seven foreign
  reinsurers have a presence in the country.
  The CIRC g
  
  Read more

• R&Q agrees to reinsure outstanding SIMIA contracts

  28-09-2016 11:21
  
  Randall and Quilter has reached an agreement with closed mutual SIMIA to reinsure all outstanding contracts.
  
  Read more

• Willis appoints North American property head

  28-09-2016 10:37
  Willis Towers Watson has hired Gary Marchitello as its new head of
  property broking for North America, the company said yesterday (27
  September).
  Marchitello joins from convergence firm Vanbridge, where he led
  the property practice.
  Willis said that he will lead a team of 90 staff, reporting to
  head of North American broking Matt Keeping.
  Marchitello will be based in New York....
  
  Read more

• Cyber: getting up to speed

  28-09-2016 10:30
  
  Brokers have a vital role to play in spreading the word about the importance of cybercover for businesses of all sizes, explains Steve Williams
  
  Read more

• Insurance revenue flat at the AA

  28-09-2016 10:16
  
  Ebitda drops by £2m for the first half of 2016.
  
  Read more

• AA underwriting business expands into home

  28-09-2016 10:06
  
  AA’s newly launched underwriting business is on target to write 100,000 policies in the first year of its launch.
  
  Read more

• R&Q strikes UK solicitors’ PI deal

  28-09-2016 09:32
  
  Run-off buyer’s Malta operation to absorb closed company’s business
  
  Read more

• Aviva partners with Netmums for safe driving campaign

  28-09-2016 09:32
  
  Campaign will raise awareness of road safety
  
  Read more

• Aon unveils cyber cover to include property, BI and CBI risks

  28-09-2016 09:18
  Aon has launched an enterprise-wide cyber product that can provide
  a broad range of coverage in a single policy offering up to $400mn
  in capacity.
  The Aon Cyber Enterprise Solution covers property, products
  liability, supply chain risk, technology platforms and
  information/physical assets, as well as offering defences against
  privacy and security liability in an integrated offering.
  The broker said it had secured the support of markets in the US,
  London, Europe and Bermuda - including many leadi
  
  Read more

• Reinsurers should target brokers' fees, says Lloyd’s chairman

  28-09-2016 09:13
  
  Chairman says brokers might find themselves being cut out
  
  Read more

• AA expands underwriting business

  28-09-2016 09:08
  
  But new unit has yet to make a profit
  
  Read more

• New farming risks and their insurance implications

  28-09-2016 08:10
  
  The past 12 months have not been easy for farmers. Depressed produce prices have left the sector facing one of the worst income crisis for more than 100 years.
  
  Read more

• Video: Post's He for She commitments

  28-09-2016 08:00
  
  Post is supporting the Chartered Insurance Institute’s He for She campaign - making simple, achievable personal commitments that inspire others to join the conversation and show support for gender parity.
  
  Read more

• Gambling-addict broker jailed over theft from dying boss

  28-09-2016 07:30
  
  Widow describes in court how broker betrayed his ‘mentor’ dying boss 
  
  Read more

• AA broking profit drops as policy count falls

  28-09-2016 07:27
  
  But company says there are signs of stabilisation
  
  Read more

• Insurance Times Awards 2016 finalists revealed

  28-09-2016 07:25
  
  Find out who is in the running for an award this year
  
  Read more

• Urban and Haverstick leave Third Point Re

  28-09-2016 05:25
  David BullThird Point Re executives Tony Urban and Shane Haverstick have
  resigned from the Bermudian total return reinsurer, The
  Insurance Insider can reveal.
  Urban was one of the company's first hires when it launched
  in 2011 and was most recently executive vice president and chief
  underwriting officer at Third Point Reinsurance USA.
  The executive was initially CUO at Third Point Re in Bermuda but
  relocated to the reinsurer's more recently launched US platform
  along with Haverstick in early 201
  
  Read more

• Public don’t trust insurers to pass on car insurance savings

  28-09-2016 01:00
  
  Four out of five members of the public do not believe insurance companies will hand customers any savings made from proposed government reforms to personal injury claims.
  
  Read more

Follow @Insurance_UKnws on Twitter!