US earthquake fear
17 October 2006
Few Americans have invested in earthquake insurance despite the enormous damage earthquakes can cause, according to ratings agency AM Best…
International
Lloyd’s boss warns against complacency
10 October 2006
Lloyd’s CEO Richard Ward says the industry needs to rise to the challenge and not rest on its laurels and “reflect on our glorious past”…
Japanese insurers fail to pay
10 October 2006
Japan’s largest general insurance companies face penalties after acknowledging they failed to pay about 262,000 claims valued at about ¥16.2 billion ($184 million)…
El Niño here until March
10 October 2006
The US Climate Prediction Centre believes the Asia Pacific region is in the midst of an El Niño weather pattern that will affect the weather until at least March next year…
Lloyd’s earnings drop but outlook okay
03 October 2006
Lloyd’s profit has fallen 2.2% to £1.35 billion ($3.39 billion) for the first six months of the year after investment income fell £86 million ($215.9 million)…
RSA flees US market
03 October 2006
Just over three years after departing the Australian and New Zealand markets, British insurer Royal and Sun Alliance has signed a deal that will see it escape from the difficulties…
Cold shoulder for insurance plan
03 October 2006
Legislation introduced by Republican Edward Royce in the US House of Representatives last week would allow some insurers to be regulated by the Federal Government…
UK regulator’s new rules
26 September 2006
The UK Financial Services Authority has produced new proposals for regulatory reform that includes guidance on reporting reinsurance contracts…
Agents group attacks fee deal
26 September 2006
Insurance agents in the US are protesting against planned settlements between state attorneys-general and a collection of insurers…
Allianz firm on restructuring
26 September 2006
German insurer Allianz says its extensive restructuring is on track and there are no plans to adjust its employment needs…
Rates tipped to stay high
26 September 2006
The cost of insurance will remain high for the rest of the year – even without high storm activity – according to a study by The Times of London.
Big job losses at Aviva and Marsh
19 September 2006
Marsh & McLennan plans to cut 750 jobs in the US, while in the UK insurer Aviva is planning an even more drastic shedding of 4000 jobs…
Spitzer a step closer to governorship
19 September 2006
The man who changed the way US insurers and major brokers do business, New York Attorney-General Eliot Spitzer, has won the state’s Democratic Party nomination…
Greenberg company backs Lloyd’s syndicate
19 September 2006
Lloyd’s has approved a new syndicate backed by the independently owned holding company CV Starr & Co, which once housed a group of insurance agencies for…
Spies take cover
19 September 2006
America’s spies who worry they could be sued over some of their more enthusiastic counter-terrorism interrogations are signing up to a new US Government-sponsored insurance…
Lloyd’s looks to eastern markets
12 September 2006
Lloyd’s is looking east for its next market opportunities, with China and India named as its next targets…
Spitzer narrows his case
12 September 2006
New York Attorney-General Eliot Spitzer has amended his office’s complaint against former AIG executives Maurice Greenberg and Howard Smith…
Don’t expect too much, warn US insurers
12 September 2006
Leading US insurers are changing their advertising emphasis from plain old marketing messages to a new focus on preparing for the worst…
Fitch maintains stable reinsurance outlook
12 September 2006
The global reinsurance industry’s outlook has remained stable, according to a report by the Fitch ratings agency…
Aon joins commissions rollback
12 September 2006
The top US insurance brokers are rolling back their blanket ban on contingent commissions, with Aon announcing a deal with regulators to allow it to accept the commissions…