Insurance news

• Chubb promotes claims specialist Lambourne

  23-12-2016 15:26
  Chubb has promoted Graham Lambourne to the London-based role of
  head of multinational claims for overseas general insurance.
  The insurer had previously named Lambourne global clients claims
  manager, Europe, in March. Before that he was multinational claims
  manager for Ace European Group, and has also held senior claims
  positions at AIG and XL Group.
  His new role entails working across the Americas, Asia Pacific
  and Europe with responsibility for "further refining and
  enhancing Chubb's multinatio
  
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• Merry Christmas from Insurance Times

  23-12-2016 14:55
  
  Coverage to commence in January
  
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• Broking group hires Travelers exec as head underwriter

  23-12-2016 14:39
  
  New joins MGA division of broking group
  
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• Final Perils loss estimate for Storms Eva and Frank hit £504m

  23-12-2016 13:10
  
  Catastrophe data firm Perils said flooding linked to storms Eva and Frank caused insured losses of £504m.
  
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• Ocaso rejects £50,000 claim due to policy holder withholding information

  23-12-2016 13:05
  
  The Welsh assembly has criticised Ocaso Insurance’s refusal to pay out for a £50,000 flood damage claims, calling the decision ‘unreasonable’.
  
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• FSCS bill for failed Enterprise rises further

  23-12-2016 12:48
  
  Compensation scheme continues to reimburse policyholders of failed Enterprise
  
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• Court of Appeal finds insureds may be entitled to property reinstatement compensation

  23-12-2016 11:46
  
  Insurers may have to pay costs for repairing an insured property, irrespective of whether the insured actually intends to repair it.
  
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• RSA makes two senior appointments to its underwriting team

  23-12-2016 11:33
  
  Robert Kemp and Leigh Langton have both joined RSA in senior underwriting positions within the firm’s Global Risk Solutions UK operation.
  
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• This week in Post: Scrooge, Vnuk and season's greetings

  23-12-2016 10:59
  
  As Christmas day draws near lawyers this week branded the Association of British Insurers’ legal challenge over the government’s discount rate review as “worthy of Scrooge himself”.
  
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• RSA hires senior UK underwriters

  23-12-2016 10:40
  RSA has made two senior UK underwriting appointments within its
  global risk solutions business.
  Robert Kemp joins as property underwriting director following
  nine years at Marsh's risk management practice, where he was
  managing director and head of placement.
  He had previously worked within the UK and Ireland property arm
  of Willis.
  Leigh Langton joins in the newly created role of underwriting
  leader from XL Catlin, where he was client and distribution leader.
  Langton had started his career at R
  
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• Perils pegs Eva-Frank losses at £504mn

  23-12-2016 10:40
  Catastrophe loss data specialist Perils has said storms that hit
  the UK in December 2015 and January caused insured flood losses of
  £504mn ($619.2mn).
  The risk modelling company's fourth and final estimate
  covers flood losses related to the Eva and Frank storms and other
  low-pressure systems.
  The figure is less than the £528mn estimate issued by
  Perils on 24 June this year.
  The Eva-Frank storm, along with the Desmond flood which happened
  in December 2015, were the first major events.
  
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• Peak Re granted Zurich licence

  23-12-2016 10:40
  Hong Kong-based reinsurer Peak Re has been granted approval by
  the Swiss Financial Market Supervisory Authority to establish a
  subsidiary, the carrier announced today.
  Peak Re had opened a branch office in Zurich in September 2015.
  The new subsidiary will also be based in Zurich, and is licensed to
  accept business from 1 January, 2017.
  Jacques Burri, currently head of Europe at Peak Re, will be
  appointed as CEO of Peak Re AG, while Franz-Josef Hahn, CEO of Peak
  Re,...
  
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• NY state delays cybersecurity rule fought by insurers

  23-12-2016 10:40
  New York state's pending cybersecurity regulations for
  insurers and other financial companies will take shape a little
  more slowly than expected, with an approaching deadline pushed back
  to March 1.
  The draft rule drew a storm ofcriticism from insurer groups when it was published in
  mid-September, and the scale of requested changes raised
  speculation that the state Department of Financial Services would
  tear up its proposal and restart the process. A Jan. 1
  implementation had been scheduled.
  But
  
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• IAG adds non-executive directors

  23-12-2016 10:40
  Australian carrier IAG has added two independent non-executive
  directors to its board, it announced today.
  Dr Helen Nugent is chairman of Australian Rail Track
  Corporation, a non-executive director at Origin Energy and chairman
  of the National Portrait Gallery.
  Duncan Boyle is a former non-executive director of QBE,
  Stockland Property Group and law firm Clayton Utz, and is currently
  chairman of TAL Dai-ichi Life Australia.
  Boyle's executive career also included roles at Royal and
  Sun Alliance, t
  
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• Delta Lloyd accepts EUR2.5bn offer from NN Group

  23-12-2016 10:40
  Netherlands insurer Delta Lloyd on Friday accepted a marginally
  sweetened EUR2.5bn ($2.6bn) offer from Benelux peer NN Group after
  almost three months of talks.
  If the conditional agreement translates into a takeover, NN will
  add a Dutch-focused entity with premium income of EUR4bn as of
  2015, creating a group spanning pensions, life and non-life
  insurance, asset management and banking.
  For Delta Lloyd the takeover would end a period of uncertainty
  after a capital shortfall earlier this year tri
  
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• Insurer sparks anger by rejecting flood claim - report

  23-12-2016 09:18
  
  Company accused of giving industry a bad name by rejecting flood claim
  
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• Major insurer vows to forge closer ties with brokers

  23-12-2016 08:51
  
  Insurer working on several initiatives to forge closer ties with brokers
  
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• Blog: Construction cries out for planning help

  23-12-2016 08:00
  
  Insurers and reinsurers will only be too aware of the insured losses that arise on an annual basis from the UK construction industry.
  
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• RSA UK unit hires former broker as underwriting head

  23-12-2016 07:35
  
  Insurers bolsters team with new underwriting head and further hire
  
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