Insurance news

• Lord Hunt secures second term as Biba chair

  01-12-2016 23:09
  The chairman of the British Insurance Brokers' Association
  (Biba), Lord David Hunt, is set to continue in the role for a
  second three-year term, the trade body announced today.
  The Conservative peer had served as president of the Chartered
  Insurance Institute before first agreeing to take the role as
  Biba's flag bearer in 2014.
  "Brokers arrange over half of all general insurance
  business, over a third of personal lines and almost 80 percent of
  commercial lines," Lord Hunt said, adding:...
  
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• Liberty Mutual zeroes in on Ironshore deal

  01-12-2016 23:09
  Liberty Mutual's takeover talks with Fosun subsidiary
  Ironshore have reached an advanced stage with both sides looking to
  clinch a deal ahead of Christmas, The Insurance
  Insider can reveal.
  Broking sources said that the discussions -first reported by this publication in October - have progressed
  well, gathering steam in recent weeks.
  Other potential acquirers had been waiting in the wings, ready
  to re-enter the Citi-run process if Liberty faltered, but prospects
  of talks breaking down now look s
  
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• Liberty Mutual zeros in on Ironshore deal

  01-12-2016 21:29
  Liberty Mutual's takeover talks with Fosun subsidiary
  Ironshore have reached an advanced stage with both sides looking to
  clinch a deal ahead of Christmas, The Insurance
  Insider can reveal.
  Broking sources said that the discussions -first reported by this publication in October - have progressed
  well, gathering steam in recent weeks.
  Other potential acquirers had been waiting in the wings, ready
  to re-enter the Citi-run process if Liberty faltered, but prospects
  of talks breaking down now look s
  
  Read more

• LMG sets up online portal for premium processing

  01-12-2016 19:04
  The London Market Group (LMG) has launched an online portal for
  electronic premium submission as part of the Target Operating Model
  (Tom) programme, it announced today.
  The online portal will enable brokers and service companies in
  the London market to submit premiums electronically, without having
  to build software systems of their own.
  By using the portal, brokers and service companies can access
  the Xchanging Insurance Services bureau using standard ACORD
  messaging, bringing London in line wi
  
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• Krefta to replace Pinchin at Hiscox Re

  01-12-2016 19:04
  Hiscox will reshuffle its reinsurance division leadership next
  year when Michael Krefta will take over the Bermuda-based
  leadership role while Jeremy Pinchin returns to the carrier's
  London base, the company said.
  Krefta will take over the CEO role at both Hiscox Re and ILS and
  Hiscox Bermuda from 1 August next year, subject to regulatory and
  immigration approvals.
  He is currently chief underwriting officer of Hiscox Re.
  Krefta joined the carrier 13 years ago as an analyst for Hiscox
  UK...
  
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• Startup Bootcamp reveals 10 start-ups for insurtech acceleration programme

  01-12-2016 17:54
  
  Startup Bootcamp has revealed the top 10 insurtech start-ups for its 2017 acceleration programme.
  
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• World Aids Day: Travel insurers need to overcome ‘resistance’ to covering HIV

  01-12-2016 17:49
  
  The insurance industry still needs to take greater steps to provide cover for HIV and HIV-positive people.
  
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• Lord Hunt signs up for three more years at Biba

  01-12-2016 17:01
  
  Trade body's chairman to serve for a second three year term.
  
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• Startupbootcamp incubator unveils this year's new insurtech protégés

  01-12-2016 14:03
  
  Startupbootcamp incubator has revealed who made the cut for this year’s funding
  
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• Insurtech startup incubator unveils this year's new protégés

  01-12-2016 14:03
  
  The insurtech startup incubator has revealed who made the cut for this year’s funding
  
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• Insurtech start-up incubator unveils this year's new protégés

  01-12-2016 14:03
  
  The insurtech start-up incubator has revealed who made the cut for this year’s funding
  
  Read more

• NZ Reserve Bank puts Kaikoura losses in line with forecasts

  01-12-2016 13:06
  The governor of the Reserve Bank of New Zealand has said that
  insurers are likely to bear between NZ$1.0bn and NZ$5.0bn
  ($0.7bn-$3.5bn) of the total NZ$8.0bn cost of the Kaikoura
  earthquake.
  In a press conference yesterday, Graeme Wheeler said the
  government was likely to foot up to NZ$3.0bn of the bill for
  infrastructure repairs.
  Insurers could pay anywhere from NZ$1.0bn-NZ$5.0bn, he said, in
  comments also reported by local news outlet interest.co.nz.
  This is in line with the modelled insured l
  
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• Chaucer hires treaty class underwriter in Singapore

  01-12-2016 13:06
  Chaucer has hired Chee Koon Ong as class underwriter for treaty
  business in Singapore, it announced today.
  Ong joins the firm from Swiss Re, where he was responsible for
  the agriculture portfolio. Prior to this, he worked at Allianz and
  at Milli Re.
  He will report to Tom Graham, senior treaty underwriter at
  Chaucer Singapore.
  In November, Chaucer appointed John Eggleston as head of
  international property facultative reinsurance.
  Eggleston joined from Generali, where he served as head of
  property
  
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• Henderson Insurance Brokers promotes Leeds duo

  01-12-2016 12:58
  
  Paul Judge and Phil Davies will both be on the group executive board at the broker firm.
  
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• Trio of promotions at Arthur J Gallagher

  01-12-2016 12:33
  
  The president of Arthur J Gallagher's property & casualty operations, James Gault, has been promoted to the newly created position of chairman.
  
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• Gallagher makes senior leadership changes

  01-12-2016 12:31
  
  Appointments aimed at supporting Gallagher’s growth
  
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• Revealed: RSA potentially faced with exposure to football abuse claims

  01-12-2016 12:21
  
  RSA has admitted it has “potential exposure” to recent claims arising from abuse at professional football clubs.
  
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• Broker fined by data regulator over spam texts

  01-12-2016 12:15
  
  Customer complaints led to broker fine over spam texts
  
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• Oracle Insurance Brokers fined by the ICO

  01-12-2016 11:49
  
  Broker fined £30,000 for sending spam text messages.
  
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• Ford to test autonomous cars on European roads

  01-12-2016 11:40
  
  Ford is to begin testing autonomous cars on European roads in 2017.
  
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• TT Club to address broker skills in niche areas - sign up to Broker Expo Live

  01-12-2016 11:32
  
  The free online event kicks off at 10:30am on 6 December.
  
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• Access to Justice urges MoJ to extend whiplash consultation deadline

  01-12-2016 11:15
  
  Access to Justice has written to the government asking for the consultation period for personal injury reform to be extended beyond the current deadline.
  
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• Skuld SPA Agora hires D&F head

  01-12-2016 11:05
  Skuld special purpose arrangement (SPA) Agora has hired Peter
  Coleman from Pembroke Syndicate 4000 as head of direct and
  facultative (D&F) to complete its senior leadership.
  Coleman, former head of international property at Pembroke, will
  be supported by Neil Wren and Anthony Strain as underwriters in the
  D&F team. He will start in early December.
  His appointment completes the senior leadership team at Agora,
  which is led by market veteran Mike Pritchard.
  Pritchard was active underwriter
  
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• AM Best impaired insurers list expands by 9 in 2015

  01-12-2016 11:05
  The number of failing US insurers added to AM Best's list of
  impaired carriers nearly doubled last year from 2014, with nine
  placed either into liquidation or receivership, the credit-rating
  company said today.
  Eight of the companies added to the rating agency's
  impairment list were P&C insurers, while the ninth wrote life
  policies, AM Best said in the annual industry study.
  Of the P&C carriers, several were focused on the challenged
  auto and transportation lines of business.
  The agency
  
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• AJ Gallagher announces trio of promotions

  01-12-2016 11:05
  The president of Arthur J Gallagher's property and casualty
  division James Gault has been promoted to the new position of
  chairman as a member of the broking family rises through the
  ranks.
  The reshuffle will see Gault become chairman of global P&C
  as Tom Gallagher - the brother of the broking house's chairman,
  president and CEO Pat Gallagher - replaces him as president of the
  segment.
  Meanwhile, Michael Pesch was promoted to president of US retail
  P&C brokerage operations from...
  
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• CII to create broker society

  01-12-2016 10:15
  
  According to the institute the development of a new broker membership programme in 2017 will speak in the language of the profession.
  
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• The best new scheme in the market?

  01-12-2016 10:00 via insuranceage.co.uk
  
  The apprentices have their first individual challenge – selling their schemes idea to LV boss Mike Crane.
  
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• Broker Apprentice 2016: The best new scheme in the market - episode five

  01-12-2016 10:00 via insuranceage.co.uk
  
  The apprentices have their first individual challenge – selling their schemes idea to LV boss Mike Crane.
  
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• Insurers involved in football abuse payments

  01-12-2016 09:24
  
  Insurers paid out compensation to football abuse victims, newspapers report
  
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• Post docu-video: State of the Broker Nation: The future face of broking

  01-12-2016 08:00
  In an increasingly connected world customers are turning to mobile devices to fulfil their needs. How can insurance brokers evolve to protect their future from disintermediation?
  
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• Lifeboat safety: An international concern

  01-12-2016 08:00
  
  Nearly 16% of merchant mariners' deaths have been caused by incidents involving lifeboats and their launching systems, according to 10 years of data analysed by a safety group. Many seamen have suffered severe injuries of the spine and lower extremities in similar circumstances.
  
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• Chaucer expands Singapore treaty team

  01-12-2016 05:39
  
  Lloyd's specialist insurance group Chaucer has appointed former Swiss Re manager Ong Chee Koon as class underwriter to join its Asia treaty team in Singapore.
  
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• Florida workers comp rate hike set to kick in after all

  01-12-2016 02:08
  A 14.5 percent hike in workers compensation insurance rates in
  Florida will kick in tomorrow as scheduled after a state agency
  filed a formal notice of its plan to appeal a court ruling last
  week that stayed the increase.
  The Florida Office of Insurance Regulation filed the appeal
  notice, according to a statement put out by the agency in
  Tallahassee yesterday.
  "Based on the office filing its Notice of Appeal, the order
  is stayed pursuant to Rule 9.310(b)(2), Florida Rules...
  
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• AJ Gallaghers announces trio of promotions

  01-12-2016 02:08
  The president of Arthur J Gallagher's property and casualty
  division James Gault has been promoted to the newly created
  position of chairman to make room as a member of the broking family
  rises through the ranks.
  The reshuffle will see Gault become chairman of global P&C
  as Tom Gallagher - the brother of the broking house's chairman,
  president and CEO Pat Gallagher - replaces him as president of the
  segment.
  Meanwhile, Michael Pesch was promoted to president of US retail...
  
  Read more

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