Swinton eyes up Equity branch network
Posted on : 2008-12-10
Equity Insurance, put up for sale by the Insurance Australia Group (IAG), may have its branch network acquired by a British company.
Swinton, the UK’s biggest high street insurance broker, is one of the leading bidders in the contest to buy Equity’s branches, according to a report in the Financial Times.
Swinton’s chief executive, Patrick Smith, said [...]...
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Rok opens Mansfield claims centre
Posted on : 2008-12-10
Rok, the building firm that specialises in repairs, has opened an insurance claims centre in Mansfield, East Midlands.
The company says the facility, which will handle around 70,000 claims a year, represents a key step forward in becoming the UK’s leading provider of claims management and building repair services.
Rok already has agreements with a [...]...
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XL Re enters Brazil as local reinsurer
Posted on : 2008-12-10
XL Capital’s global reinsurance arm, XL Re, has received the green light from regulators to enter the Brazilian marketplace as a local reinsurer incorporated in Brazil and regulated by the country’s authorities.
This follows on from events in the middle of 2008, when XL Re acquired permission to enter the Brazilian market as an admitted reinsurer, [...]...
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Product recall insurance unlikely to reimburse Irish pig farmers
Posted on : 2008-12-10
Lloyd’s insurance and reinsurance specialist, Miller, has warned that with regard to the health scare over pork produced in Ireland, insurance policies purchased to indemnify the costs of recalling consumer products may not pay out.
Kieron Russell, a member of the firm’s special risk team, explains that underwriters of product recall insurance typically include policy exclusions [...]...
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AIG appoints Eastwood president of Lexington
Posted on : 2008-12-10
Peter Eastwood has been named by AIG to serve as the new president of Lexington Insurance Company, a unit of AIG Commercial Insurance.
He first joined AIG 17 years ago and has occupied a number of senior posts within AIG Executive Liability, AIG Risk Finance, AIG Reinsurance Advisors and Lexington Insurance Company.
Most recently he served as [...]...
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Ironshore appoints new CEO and president
Posted on : 2008-12-10
Ironshore’s chairman, Ron Sandler, has announced that Kevin Kelley has been appointed as chief executive officer of the firm, with Bob Deutsch assuming the role of president.
Kelley leaves behind his post as CEO of Lexington Insurance Company, where he built the organisation into the world’s largest excess and surplus lines insurer.
Deutsch, who was Ironshore’s founding [...]...
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Marsh creates Scottish Public Sector Practice
Posted on : 2008-12-10
Insurance broker and risk adviser Marsh has announced that it is opening a Scottish Public Sector Practice.
The new practice will cater to the unique risk and insurance issues belonging to various public sector organisations.
The practice has a broad range of clients throughout Aberdeen, Edinburgh and Glasgow, including fire and police authorities, local authorities, social housing, [...]...
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Marsh launches Scottish public sector division
Posted on : 2008-12-10
Marsh has launched a public sector division in Scotland, which is dedicated to servicing a range of the firm’s clients in Aberdeen, Edinburgh and Glasgow.
The broker and risk specialist is enhancing its offering to the region’s local authorities, fire and police authorities, social landlords, central government and government agencies.
The new practice is headed by Gordon [...]...
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Chubb insurance helps firms stay green
Posted on : 2008-12-10
Chubb Group has pledged to help businesses stay green with a new move in its insurance policy approach.
Peter Thompson, worldwide energy manager for Chubb Commercial Insurance, has stated that businesses with commercial property insurance policy from the firm can enjoy having their green investments automatically protected even if there is a loss.
For the last 14 [...]...
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Egg fined £721,000 for mis-selling PPI
Posted on : 2008-12-10
Egg is the latest financial services company to be fined for mis-selling payment protection insurance (PPI).
The credit card provider sold the insurance via incoming customer services calls, or when its representatives made sales call to new customers.
In a review of cases covering the period January 2005 to December 2007, the Financial Services Authority (FSA) found [...]...
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Survey: 16 Per Cent Of Drivers Try To Hide A Car Accident From A Family Member
Posted on : 2008-12-10
kanetix.ca survey reveals that 16 per cent of people have tried to hide the fact they were in an auto accident from someone in their family....
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