International Underwriting Association (IUA)
IUA elects two new board members
Two new members have been elected to the Board of the International Underwriting Association.
IUA working party demands details on regulatory cooperation
More information is needed on how the UK's two new insurance regulators are going to cooperate and ensure fair treatment for companies, a new International Underwriting Association market group has stated.
IUA attacks late claims payment penalties
Proposed legal reforms that allow unlimited damages to compensate for delayed claims payments will drive up legal costs and raise insurance premiums, the International Underwriting Association has warned.
LMG extends electronic approach
The London Market Group has extended its electronic endorsements initiative to all classes of business. Brokers can send all endorsements in every class electronically, and insurers will be able to respond to them.
New rules for reinsurance writers in India
India’s supervisory authority, the IRDA, has issued new regulatory requirements for reinsurers writing cross border risks in the country.
IUA launches London training forum
The International Underwriting Association has launched an Education and Training Forum for London Market companies.
IUA publishes new London Market TOBA
The International Underwriting Association for insurers and brokers has published a new Terms of Business Agreement (TOBA) for use in the London Market.
IUA calls for market solution to green risks
Market-driven solutions to environmental liability risks should take precedence over possible EU-enforced compulsory financial requirements, the International Underwriting Association has argued.
Airmic to have global compliance database ready by September 2013
Airmic is to create a final version of its industry-backed global compliance database by September 2013.
IUA director replaces Hurst-Bannister as LMG chairman
Stephen Riley, executive director of Global Aerospace and chairman of the International Underwriting Association, is to become chairman of the London Market Group.
Rise of PPOs has tailed off in PI cases
The growth of Periodical Payments Orders that top up personal accident claims over time has tailed off according to a study by the International Underwriting Association.
Cyber liability: Getting hacked off
Back in 1983, when Hollywood produced a film about a young boy inadvertently hacking into military systems, the possibility of such an occurrence seemed the stuff of fantasy and doom-mongers.
In series: Lloyd's & London Market: Staying number one
Tightening regulation and a less advantageous tax regime are making it tough for Lloyd’s to retain its pre-eminence, but is protectionism the greater threat?
In series - Lloyd's & London market: Power to the people
With employees rightly recognised as crucial to company success, Lloyd’s and London market players are gearing up their efforts to attract and retain top talent.
MGAA launch: Changing perceptions
Delayed since 2010, the Managing General Agents Association launched this month, with a brief to ensure the insurance industry and regulators understand exactly what role MGAs perform.
News review 14 - 20 September 2011
A review of news stories which broke between 14 and 20 September 2011.
Legal expenses market unclear
The International Underwriting Association has urged insurers to review their liability products in light of a vast increase in potential legal costs arising from corporate manslaughter prosecutions.
MGAA to challenge FSA "pleasant" but indifferent view
The chairman of the Managing General Agents’ Association has said the Financial Services Authority seemed indifferent to the new trade body.
IUA produces first time accurate London market stats
The International Underwriters Association has produced a measure of premium income generated by insurance and reinsurance companies written by London that could help them prepare for Solvency II.
US legislative changes offer opportunities for London Market
Legislative changes in the US could present “significant” business opportunities for London market companies, according to the International Underwriting Association.
Career development & CSR: IUA course aims to tackle demand for actuarial skills
A new training course that offers insurers an introduction to actuarial techniques has been accredited by the Chartered Insurance Institute.
Regulation tops London market agenda
Uncertainty around regulatory issues - from the replacement of the Financial Services Authority to a global focus on the perceived systemic risks of the insurance sector - remain top of the agenda for London company market insurers.
Rehabilitation: Embedding rehabilitation
Rehabilitation is now widely accepted by UK motor insurers, but its record continues to be mixed on implementation. Mark Baylis urges firms to consider the wider context of rehabilitation if further progress is going to be made.
IUA issues Bribery Act warning
The International Underwriting Association has urged insurers to make certain that they are managing the risks associated with the new Bribery Act.