Insurance news

• Veteran bankers brought in for Scotiabank push

  02-12-2016 19:08
  Former JP Morgan co-head of insurance investment banking Marty
  Dolan and senior Deutsche Bank dealmaker Mark Goldstein have joined
  Scotiabank to spearhead a push into financial institutions advisory
  services, The Insurance Insider has
  learned.
  Dolan and Goldstein joined as co-heads of a newly created US
  financial institutions group as the large-cap Canadian bank looks
  to expand its reach south of the border, sources said.
  Insurance is likely to be the team's initial focus, with
  other areas of fi
  
  Read more

• In Pictures: The Insurance Times Awards 2016

  02-12-2016 17:16
  
  See if you can spot yourself in our image gallery from the Insurance Times Awards 2016
  
  Read more

• Talk Talk attacks will raise awareness of cyber insurance policies

  02-12-2016 16:36
  
  This week's cyber-attack on Talk Talk and Post Office broadband will see a higher uptake in cyber policies, according to experts.
  
  Read more

• This Week in Post: claims, cold-calling and commercial vans

  02-12-2016 15:38
  
  As the frost closes in and warns us of winter, my thoughts turn to safety and vehicles, especially as I found myself slipping over due to the black ice on the roads.
  
  Read more

• Advertisement

• Gable brokers in race against clock amid fresh warning

  02-12-2016 13:42
  
  Gable brokers need to find new cover for policyholders
  
  Read more

• FSCS warns Gable policyholders about cover lapse

  02-12-2016 13:42
  
  Gable policyholders face race against time to find new cover
  
  Read more

• County Group buys Wrexham Insurance Services

  02-12-2016 13:22
  
  Deal is broker's third acquisition in Wales in the last 18 months.
  
  Read more

• RSA appoints Emery as new retail brands director

  02-12-2016 13:21
  
  Rsa has appointed Pete Emery as its new retail brands director having worked for the firm since 2010.
  
  Read more

• Advertisement

• InsurTech Futures: Startupbootcamp chooses 10 firms for 2017 cohort

  02-12-2016 13:19
  
  Artificial intelligence, big data, and drones among the Top 10 InsurTech startups selected for Startupbootcamp InsurTech 2017 programme.
  
  Read more

• Time running out for Gable motor and EL policyholders to find alternative cover

  02-12-2016 12:54
  
  Motor and employers' liability policies underwritten by Gable will expire in two weeks, the Financial Services Compensation Scheme has warned.
  
  Read more

• Third Point investments stay negative in November

  02-12-2016 12:34
  Third Point Re investment manager Third Point LLC reported a
  negative investment return of 1.1 percent in November, in its
  second consecutive month of negative results.
  In October the investment manager also posted a negative return
  of 1.1 percent.
  The November result compares with the S&P 500 return of 3.7
  percent in the same month.
  Despite the negative returns, the funds managed by Third Point
  LLC have generated a return of 3.7 percent in the year to date.
  In comparison,...
  
  Read more

• Perils raises Storm Desmond estimate

  02-12-2016 12:34
  Loss compilation agency Perils has lifted its final property
  market insured loss estimate for UK storm Desmond to £604mn
  ($759mn).
  The latest figure is a small increase on its 3 June estimate of
  £597mn.
  Storm Desmond caused widespread flooding in the Scottish Borders
  and the north of England between 4 and 6 December last year.
  In the UK, the county of Cumbria was hit by extreme flooding
  after heavy rain and winds of up to 80mph lashed the area.
  At...
  
  Read more

• Chinese insurers set for $100bn overseas expansion

  02-12-2016 12:34
  Chinese insurers look set to remain in the vanguard of outbound
  deal-making and will invest an estimated $100bn overseas in the
  next three years, according to BNP Paribas.
  The French bank based its prediction on a survey of the sector,
  which includes Fosun, Anbang and Ping An.
  The research found that Chinese insurers wanted to buy overseas
  securities, private equity and real estate to deliver stable and
  sustainable returns, rather than to mitigate a decline in the value
  of the...
  
  Read more

• Markerstudy confirms job cuts in IT department

  02-12-2016 12:10
  
  Restructure likely to lead to 45 redundancies.
  
  Read more

• Meet the techies: Lukas Oberhuber

  02-12-2016 11:15
  
  Simply Business chief technology officer Lukas Oberhuber talks us through what brokers need to know about technology and disruption.
  
  Read more

• Insurers ‘fully engaged’ in football abuse inquiry

  02-12-2016 11:05
  
  The insurance industry is “fully engaged” in the independent inquiry into football abuse, the Association of British Insurers said.
  
  Read more

• Perils final insured loss estimate for Storm Desmond totals £604m

  02-12-2016 11:04
  
  The estimated insured property market losses for Storm Desmond comes in at £604m, according to catastrophe modelling firm Perils.
  
  Read more

• Australian hailstorm losses reach $143mn

  02-12-2016 10:59
  Insured losses from the hailstorms that struck the region of
  Mildura, Australia, on 11 November have risen to A$192.6mn
  ($142.5mn), according to the Insurance Council of Australia (ICA).
  South Australia is the most severely affected state, with
  insured losses of A$130mn from 20,080 claims.
  New South Wales has sustained A$37.5mn in losses from 4,529
  claims, while the 3,537 claims in Victoria total A$25.2mn.
  More than 15,000 motor vehicle claims have been lodged from the
  event for an estimated val
  
  Read more

• Quizzical questions: 2 December 2016

  02-12-2016 10:42
  
  Test your knowledge of the week's news with our topical news quiz.
  
  Read more

• Top 5: Flood prevention and management for education clients

  02-12-2016 10:20
  
  In December 2015 nearly 40 schools were forced to close overnight following severe flooding brought on by Storms Desmond, Eva and Frank. Twelve months on Ecclesiastical’s Faith Parish prompts brokers to talk to their education clients about reducing the risk and damage caused by floods at this time of year.
  
  Read more

• Markerstudy IT upgrade sees 45 jobs impacted

  02-12-2016 10:07
  
  Markerstudy will see 45 jobs go in its IT department following greater investment in automation.
  
  Read more

• Rapper defends Kanye West in 'fake' insurance claim

  02-12-2016 09:56
  
  Kanye West ‘fake’ insurance claim speculation rebutted by one of world’s biggest rap icons
  
  Read more

• Broker Apprentice 2016: Assessments of the schemes challenge – video blog 5

  02-12-2016 09:55 via insuranceage.co.uk
  
  The six apprentices have pitched their schemes to the LV panel and the winner has been chosen.
  
  Read more

• 5000 on standby for insurers’ winter flooding response

  02-12-2016 01:04
  
  Insurers have thousands of staff on standby to deal with severe flooding this year, the Association of British Insurers has said.
  
  Read more

• IT Awards 2016: Winners revealed

  02-12-2016 00:50
  
  The IT Awards were also held at a new location this year
  
  Read more

• Talbot confirms cyber launch with Mayes hire

  02-12-2016 00:49
  Talbot formally welcomed ANV's Phil Mayes aboard as it
  expands into the cyber market, confirming The Insurance
  Insider's story from May this year about its planned entry into
  the rapidly expanding space.
  The new recruit is set to take up the role of senior class
  underwriter at the Validus subsidiary where he will work alongside
  Gillian Anderson who takes the job of class underwriter and also
  joins from ANV, Talbot said late today.
  Mayes brings more than 25 years of...
  
  Read more

• Secondary Kinsale stock sale prices at $27.50 per share

  02-12-2016 00:49
  Kinsale Capital Group reported that a secondary stock offering of
  more than 3mn shares from funds affiliated with Moelis Capital
  Partners priced at $27.50 per share, putting the total value of the
  deal at about $92mn.
  None of the proceeds will go to Kinsale, the E&S specialist
  said late Wednesday in regulatory filings with the SEC.
  The sale consisted of 3.36mn shares held by Moelis funds, with
  an option for the underwriters to purchase an additional 504,000
  shares, Kinsale said....
  
  Read more

• Pure to launch E&S MGU with XL paper

  02-12-2016 00:49
  High net worth (HNW) specialist The Pure Group (TPG) is set to
  launch a managing general underwriting (MGU) to write on the
  E&S paper of XL subsidiary Indian Harbor Insurance Company,
  The Insurance Insider can reveal.
  According to sources Pure Programs has been in a soft launch
  phase ahead of a full unveiling and will provide coverage for high
  value homeowners, wind-only risks and excess flood, by
  endorsement.
  The platform has been set up to cater to owners of higher...
  
  Read more

• Hamilton USA shifts focus under new leadership

  02-12-2016 00:49
  Hamilton USA has signaled a shift in its portfolio of business with
  plans to exit its current program partnerships and position itself
  to target middle market and larger clients under new CEO Seraina
  Macia.
  The Insurance Insider revealed earlier
  this week that the carrier is in discussions with WKFC, Berkley
  Risk Specialty, McGowan Companies, Insurance Company of the West,
  Blue Sky and Alta Risk, among other managing general agents and
  programme managers.
  Programme business is thought to account
  
  Read more

• Endurance launches transportation team with Axis hires

  02-12-2016 00:49
  Endurance's US insurance operation has raided Axis and Swiss Re
  for a new E&S underwriting team to write excess casualty for
  commercial transportation clients.
  The team is led by Eric Yatteau as senior vice president,
  E&S excess casualty - transportation, reporting to Jarrett
  Long, executive vice president for excess casualty insurance at
  Endurance.
  Yatteau is joined by vice presidents Dale Painter, also from
  Axis, and Talbott Thompson from Swiss Re, with the trio based out
  of their new
  
  Read more

• Many football clubs have insurance covering them for child sex abuse claims

  02-12-2016 00:47
  
  • Insurers pledge to improve compensation process for victims
  • Chelsea paid out to former player after claim against club’s former chief scoutMany football clubs in the UK have liability insurance that covers them for claims from victims of child sex abuse, which has resulted in payouts to victims. As the scandal continues to engulf the sport, insurers have pledged to improve the compensation process. Related: Police say 350 people have come forward to report child sex abuse in
  
  Read more

Follow @Insurance_UKnws on Twitter!