United Kingdom (UK)
Liberty Mutual launches risk management tool for policyholders
Liberty Mutual Insurance has launched a risk management website to provide best practice risk engineering guidance to commercial policyholders.
Guernsey may foot the bill for £2.6m payment scam
Guernsey's government may be unable to recover £2.6m after falling victim to a payment fraud, according to the island's deputy chief minister.
Brit improves H1 COR to 93.3%
Brit Group posted a combined ratio of 93.3% for the first sixth months of 2012, down from 104.8% for the first half of 2011, reflecting benign cat activity during the period.
Former Clyde partner launches new law firm
David Coupe, a former partner at Clyde & Co and Ince & Co, has launched EC3 Legal, a new City law firm focused on representing the intermediated insurance market.
RSA expects £35m hit from Italian quakes
RSA expects a net loss of £35m from the two earthquakes in Italy's Emilia-Romagna region in May, the general insurer said today.
UK MGA Association celebrates as RSA joins
Global insurer RSA has become the latest member of the Managing General Agents' Association, a non-profit organisation that represents UK MGAs.
UK faces ongoing flood risk after wettest April to June on record
Further flooding affected the UK during the weekend of 6 and 7 July following outbreaks of exceptionally heavy rainfall.
Aviva hiring spree to fill 220 Irish vacancies
Aviva plans to recruit 220 new staff to its Galway office.
CNA Europe recruits casualty underwriter from Chartis
CNA Insurance Company has appointed Justin Godman as casualty underwriting manager.
Hogan Lovells recruits insurance partner
Hogan Lovells has appointed Helen Chapman as a partner in the firm's insurance and reinsurance group.
Europ Assistance re-branded following MBO
The team behind the management buy-out of the UK, Ireland and international health solutions business of Europ Assistance has launched its new brand, Aria Assistance, following authorisation by the Financial Services Authority.
"Disappointment" for insurers in Fairclough v Summers case
The UK's Supreme Court handed down judgment today in a seven-year battle over an exaggerated insurance claim.
UK Law Commission publishes insurance law consultation
The Law Commission is seeking responses to is third and final consultation paper on insurance contract law, published today.
Argo appoints director of alternative risk capital
Argo Group has appointed Mark Gibson to the new role of director of alternative risk capital.
New policy offers 'affordable' medical tourism
A new health insurance product claims to allow UK citizens to take advantage of the high-quality healthcare enjoyed by their European neighbours at significantly lower cost than most private medical insurance policies.
Riverstone Group to acquire Brit Insurance Limited
Brit Group has agreed the sale of its FSA-regulated insurance company, Brit Insurance Limited, to Riverstone Group.
UK insurers face capital hike under RMS v11
UK insurers may see increases of up to 97% in their capital requirement for catastrophe exposures under Solvency II rules when making calculations under the new RMS model version 11, with French and German insurers facing similar though not quite so…
AIRMIC 2012: Risk managers want outcomes-based policies
Risk managers want policies based on outcomes not perils, according to Prudential's group insurance risk manager Helen Hayden.
Executive chairman retires from Cooper Gay energy division
Tony Pickering is retiring as executive chairman of the energy division at insurance intermediary Cooper Gay & Co.
QBE appoints new non-executive director
Business specialist QBE has appointed Wai Au as non-executive director of its Lloyd's operation QBE Underwriting and its UK company market and European branch operations, QBE Insurance.
Marsh recruits new CEO from sister company
The board of Marsh today announced the appointment of Mark Weil as CEO in succession to Martin South, who was appointed CEO of Marsh Europe in January.
XL allows collateral trusts in place of letters of credit
XL Group is now accepting collateral trusts in lieu of letters of credit used as collateral for corporate deductible and captive insurance programmes in the UK.
QBE underwrites RMP's public sector business
QBE Europe will underwrite the public sector business of AJ Gallagher subsidiary Risk Management Partners from 1 July.
Solvency II setbacks taking toll on insurer budgets
Rising numbers of insurers believe the industry will miss the January 2012 compliance deadline for Solvency II, according to a survey conducted by the Economist Intelligence Unit on behalf of Deloitte.