Insurance news

• Cyber cat risk belongs with (re)insurers: Beale

  25-11-2016 18:09
  The (re)insurance industry should not be handing over cyber
  catastrophe risks to the state, Lloyd's CEO Inga Beale has
  said.
  Speaking at the CFC Cyber Symposium in London yesterday, Beale
  said it was "not good enough" for (re)insurers to be
  passing large cyber exposures to governments.
  "Otherwise we are really undermining our purpose," she
  said.
  Beale acknowledged that on a single-risk basis, the industry
  cannot cope with the "mega risks", but added that the
  sector can handle "a hell of...
  
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• SSP updates brokers after latest disruption

  25-11-2016 16:37
  
  Brokers using SSP Pure Broking system experienced connection problems earlier today
  
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• High Court judge rules in Brightside hearing

  25-11-2016 16:05
  
  Brightside is taking legal action against a firm
  
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• RSM UK ordered to pay £85,000 in costs to Brightside

  25-11-2016 15:31
  
  RSM UK have been ordered to pay £85,000 in costs to Brightside Group.
  
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• Zurich Global Corporate UK CUO resigns

  25-11-2016 15:25
  The chief underwriting officer of Zurich Global Corporate UK,
  Nick Major, resigned from the company earlier this week,
  The Insurance Insider can reveal.
  Major oversaw the underwriting of Zurich's big-ticket UK
  book, with a portfolio that ran to more than $1.5bn and close to 20
  lines of business.
  Sources said that Major's next move is not currently known.
  The senior underwriter has been placed on gardening leave.
  It is understood that Zurich will move to appoint an interim
  chief underwriting...
  
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• SSP confirms further outage

  25-11-2016 15:23
  
  The software house insisted that the problems regarding connectivity are now resolved.
  
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• Brightside and ex-auditors in court

  25-11-2016 14:50
  
  Case being held at High Court of Justice - Admiralty and Commercial Court.
  
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• Brightside takes legal action against firm

  25-11-2016 13:25
  
  A hearing is due to be held at the high Court today
  
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• Brightside and RSM UK appear in court in ongoing audit case

  25-11-2016 13:22
  
  Lawyers for Brightside and RSM UK attended a hearing today at the Royal Courts of Justice.
  
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• This Week in Post: Party-crashing and party politics

  25-11-2016 13:14
  
  This week I donned a dinner jacket and bow tie and headed to my first corporate Christmas dinner of 2016.
  
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• UK's IPT now 6th highest in Europe

  25-11-2016 13:12
  
  The UK now has the 6th highest standard rate of insurance premium tax in Europe, coming after Germany, Greece, Italy, the Netherlands and Finland.
  
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• RSA appoints marine hull duo

  25-11-2016 13:08
  UK-headquartered carrier RSA has hired former Scottish Boatowners
  Mutual Insurance Association CEO Stuart Forsyth to its London
  market hull underwriting team.
  Forsyth will serve as a hull business leader in the market and
  will oversee the company's marine hull and construction
  team.
  In addition, Danny Bell has joined the same team as a hull
  underwriter, after joining RSA in January last year as a senior
  marine claims adjuster.
  Before his 16-year stint as CEO at Scottish Mutual, Forsyth
  served as
  
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• Irdai creates panel for reinsurance cession guidelines

  25-11-2016 13:08
  The Insurance Regulatory and Development Authority of India
  (Irdai) has set up a committee to create guidelines on the
  procedures for reinsurance cessions.
  The committee will feature representatives from GIC Re, the
  General Insurance Council of India, Marsh India, Lloyd's and
  Munich Re.
  ICICI Lombard, New India Assurance Company, Max Bupa Health and
  Aegon Life will also be represented.
  In December 2015, Irdai redrafted regulations for foreign
  reinsurers setting up branches in the country.
  Under
  
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• UK's Insurance Premium Tax EU ranking revealed

  25-11-2016 12:34
  
  The study compares UK’s Insurance Premium Tax with its European neighbours 
  
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• Axa completes consultation over move of 150 jobs

  25-11-2016 12:34
  
  A consultation between a union and Axa over the relocation of 150 jobs from Kent to Birmingham has been completed.
  
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• Risk managers warn of IPT rise dangers to cyber crime fight

  25-11-2016 12:15
  
  UK association urges Chancellor to slow down tax rises
  
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• Risk managers warn of IPT rise danger to cyber crime fight

  25-11-2016 12:15
  
  Airmic has outlined reasons to the Chancellor about why IPT rise should be slowed down
  
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• Alan Boswell confirms S-Tech buy

  25-11-2016 11:50
  
  Expanded group has over 300 staff and more than £82m in GWP.
  
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• Quiz of the week - 25 November

  25-11-2016 11:48
  
  Test yourself on the news of the week.
  
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• Five reasons why brokers should get ahead with telematics

  25-11-2016 11:43
  
  Black Friday means increasing deliveries and more drivers. Wunelli’s Selim Cavanagh explains why now is a good time for brokers to get into telematics.
  
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• In Focus: Risk management and legal expenses

  25-11-2016 11:30 via insuranceage.co.uk
  
  There are things brokers can do to help SMEs protect themselves from legal expenses. Same Barrett finds out what in the final part of the series.
  
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• CIRC draws up offshore collateral regulations

  25-11-2016 11:16
  The China Insurance Regulatory Commission (CIRC) has drafted new
  regulations regarding offshore reinsurer collateral requirements,
  following concerns about credit risk for Chinese insurers.
  In a statement, the regulator said the rules would bring it in
  line with other countries such as Australia, Canada and the US and
  would promote safe offshore reinsurance transactions and protect
  the interests of insurers in China.
  CIRC said the impact of guarantee measures on offshore
  reinsurance credit risk
  
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• Quizzical questions: 25 November 2016

  25-11-2016 10:47
  
  Test your knowledge of the week's news with our topical news quiz.
  
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• Broker Apprentice 2016: Feedback on the Broker Expo stand-off – video blog 4

  25-11-2016 10:33
  
  The delegates in Coventry have voted for their task winner – did you agree with their choice?
  
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• Collinson Group launches care and support at home product

  25-11-2016 10:30
  
  Company’s research shows over 2.5 million adults would have no one to help or support them after being discharged from hospital.
  
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• R&Q completes first US-based novation

  25-11-2016 10:00
  
  Randall & Quilter has completed its first US-based self-insurer novation.
  
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• Judge sides with insurer in multi-million pound PII claim

  25-11-2016 09:34
  
  Judge finds reason to side with insurer’s UK professional indemnity team against solicitor 
  
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• Quindell founder Rob Terry plots new money spinner

  25-11-2016 09:04
  
  Quindell founder Rob Terry snaps up land in Hampshire for new business venture
  
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• Digital Insurance Collective Blog: Where do MGAs fit in?

  25-11-2016 08:00
  
  A lot of attention has been drawn to the digital developments that are being undertaken by insurers in the direct market but, while direct is an important market, transformation of the indirect channel is also deserving of more attention.
  
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• Blog: Insurers must prepare for disasters

  25-11-2016 08:00
  
  Planning the response to large-scale catastrophes is a must for all general insurers.
  
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• Fagen appointed Insurance Council of Australia president

  25-11-2016 07:36
  
  Colin Fagen, QBE's chief operations officer, has been appointed president and chairman of the board at the Insurance Council of Australia.
  
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