Insurance news

• Market awaits potential NJ Transit claims after Hoboken crash

  29-09-2016 23:55
  As the rescue and clear-up operation continues following this
  morning's fatal Hoboken train crash, insurers could face claims
  under NJ Transit's insurance programme.
  The state-owned public transportation system bought $400mn of
  per occurrence property cover in its 1 July 2016 incepting
  programme.
  It also purchased $240mn of per occurrence excess liability
  protection as part of its placement, as well as workers'
  compensation insurance.
  Further coverage was placed in an executive risk programme, a
  
  Read more

• JP Morgan queries Willis earnings target

  29-09-2016 20:08
  JP Morgan analyst Sarah DeWitt has questioned the viability of
  Willis Towers Watson's earnings per share (EPS) targets.
  In an analyst note released today, DeWitt argued that 2018 EPS
  target of between $10.10 and $11.50 announced on the broker's
  investor day slides "appear[ed] optimistic", and relied
  on the company achieving all of its merger revenue synergies,
  accelerated organic growth and operational improvement savings
  showing on the bottom line.
  Analyst consensus EPS for the company currentl
  
  Read more

• Typhoon Meranti losses could hit $1.15bn: AIR

  29-09-2016 18:37
  Catastrophe modelling agency AIR Worldwide has estimated insured
  losses of between $650mn and $1.15bn in mainland China from Typhoon
  Meranti.
  The firm said the wide range reflected uncertainty over the
  meteorological parameters of the event and insurance penetration
  rates in the region.
  The estimate includes physical damage to onshore property for
  both structures and their contents due to wind and flood, as well
  as assumed take-up rates for properties covered for such
  losses.
  It does not factor
  
  Read more

• Betrayed: The harrowing story of how a rogue insurance broker caused havoc in a Hertfordshire community

  29-09-2016 18:27
  
  Widow Christine Stoddart, pictured with daughter Sarah, tells of her harrowing ordeal at the hands of jailed insurance broker 
  
  Read more

• Advertisement

• Minor damage insurance sales are on the rise

  29-09-2016 18:22
  
  Minor damage insurance sales are on the rise as new private registrations appear to be falling.
  
  Read more

• Insurers call on government to halt motorway expansion plans due to safety fears

  29-09-2016 18:18
  
  Insurers have called on the government to put a hold on all lane running plans across the motorway network until safety concerns have been answered.
  
  Read more

• French regulator to 'speed up' licensing for UK firms following Brexit vote

  29-09-2016 17:27
  
  The French stock market watchdog will simplify licencing procedures for UK businesses considering relocating to France following the Brexit vote.
  
  Read more

• Home & Legacy launches HNW Halo platform

  29-09-2016 17:21 via insuranceage.co.uk
  
  The online trading platform has been developed with Acturis.
  
  Read more

• Advertisement

• Dual sees fresh wave of senior departures

  29-09-2016 16:59
  
  Two senior directors have left Dual in a latest batch of senior departures, Post understands.
  
  Read more

• US will not apply for formal SII equivalence: FIO

  29-09-2016 16:57
  The US insurance market will not apply to the EU for formal
  Solvency II equivalence, according to Federal Insurance Office
  (FIO) director Michael McRaith.
  Speaking before the Congressional House Financial Services
  Subcommittee on Housing and Insurance, McRaith argued that the
  prominence and longevity of the US market exempted the country from
  the need to duplicate the system.
  Pointing to the US's 26.88 percent global share of insurance
  premiums and its greater importance as a market for the EU r
  
  Read more

• FCA sees dramatic rise in cyber attacks

  29-09-2016 15:28
  
  There were 75 cyber attacks on financial services firms last year, the Financial Conduct Authority said.
  
  Read more

• Biba to test robustness of software house disaster recovery plans

  29-09-2016 14:59
  
  Move has been triggered by SSP outage
  
  Read more

• CII will move from Insurance Hall, Fisher confirms

  29-09-2016 14:07
  
  Chartered Insurance Institute CEO Sian Fisher told Post that the body will move from historic Insurance Hall to offices in the city.
  
  Read more

• PRA working on improved large loss preparedness

  29-09-2016 13:51
  UK (re)insurers will be expected to provide a realistic recovery
  plan to the Prudential Regulation Authority (PRA) in preparation
  for a market-turning event, Chris Moulder, the regulator's
  director of general insurance, has said.
  In a speech during The Insurance
  Insider's London 100 event this morning, Moulder
  said that given the changes that have occurred in the insurance
  industry since the last large-scale event over a decade ago,
  "we think it is sensible to devote some time now to planning
  fo
  
  Read more

• A-Plan's profit after tax rises 20% to £24m

  29-09-2016 13:19 via insuranceage.co.uk
  
  Operating profit also rose by 11% to £25.6m for its latest financial year (2015: £23.2m).
  
  Read more

• Price comparison sites face review by competition watchdog

  29-09-2016 13:16
  
  CMA to examine how popular websites such as Moneysupermarket, uSwitch and Go Compare earn money and how it affects their service
  Britain’s price comparison websites are facing a competition watchdog review into whether the public understands how they earn their money and the level to which they benefit consumers. The Competition and Markets Authority (CMA) said its investigation will consider concerns such as whether consumers could be made more aware about how the popular sites – wh
  
  Read more

• Biba plans review of software house disaster recovery plans

  29-09-2016 13:04 via insuranceage.co.uk
  
  The trade association is looking to use an independent third party IT expert to assess how the major software houses would cope following a disaster.
  
  Read more

• Allianz unveils legal assistance product

  29-09-2016 12:47 via insuranceage.co.uk
  
  Policy gives employees immediate access to a solicitor.
  
  Read more

• Opinion: Rob Townend on claims in car insurance

  29-09-2016 10:30 via insuranceage.co.uk
  
  Cutting bogus claims to cut costs: The number of spurious personal injury claims has been spiralling up but, as Rob Townend says, new reforms could help to crackdown on the problem
  
  Read more

• In-depth - e-trading: Up and downs of IT

  29-09-2016 10:30 via insuranceage.co.uk
  
  Technology has made life easier and cheaper for brokers but, as recent news has highlighted, there can be a downside to the digital revolution, reports Sam Barrett
  
  Read more

• In-depth - e-trading: Future proof

  29-09-2016 10:30 via insuranceage.co.uk
  
  As technology evolves and with the threat of disruptors entering the insurance space, Sam Barrett explores what advances in e-trading brokers can expect to see over the next decade
  
  Read more

• CMA launches study into digital comparison tools

  29-09-2016 10:14 via insuranceage.co.uk
  
  Review to look at home insurance sold through digital tools such as price comparison websites and smartphone apps.
  
  Read more

• Applied Systems buys eTrading for Personal Lines Platform from IS2

  29-09-2016 10:00 via insuranceage.co.uk
  
  Cloud-based solution to provide UK brokers with end-to-end online platform.
  
  Read more

• Lorega teams up with Brightside

  29-09-2016 09:50 via insuranceage.co.uk
  
  Firm to provide support to Brightside's SME clients.
  
  Read more

• Competition watchdog to investigate price comparison sites

  29-09-2016 09:50
  
  The competition watchdog is to examine whether the information listed on price comparison sites can be trusted.
  
  Read more

• CMA launches study into price comparison websites

  29-09-2016 09:02
  
  Competition regulator to look into market impact of aggregators
  
  Read more

• Loss adjuster faces charges by ICO

  29-09-2016 08:43
  
  Firm denies data charges 
  
  Read more

• The Hanjin insolvency and its insurance implications for the logistics market

  29-09-2016 08:02
  
  Four weeks into the insolvency of Hanjin Shipping, the movement of billions of dollars of container cargoes on board Hanjin vessels, or stuck in port container yards, remains in limbo while the logistics chain - traders, freight forwarders and carriers - increasingly seek insurance solutions. In the case of cargo owners, for recovery of losses, costs and expenses that are resulting, and in the case of logistics operators, to their potential liability exposures opposite customers.
  
  Read more

• Zurich's Julie Thomas on having a diverse and happy workforce

  29-09-2016 08:00
  
  Julie Thomas, diversity, inclusion & wellbeing manager at Zurich, tells Post how the insurance industry can welcome and nurture talents from all walks of life.
  
  Read more

• Zurich's David Roberts on why risk never sleeps

  29-09-2016 08:00
  
  Interconnected threats call for new skills beyond insurance procurement
  
  Read more

• Homes should come with flood warnings, says ABI

  29-09-2016 01:00
  
  Home buyers are more likely to assess accessibility to parking than risk of flooding when buying a house.
  
  Read more

Follow @Insurance_UKnws on Twitter!