Commercial Lines articles – Page 247
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News
Novae loses three more underwriters
Insurer Novae has suffered more resignations with the loss of three underwriting staff, including two senior underwriters. Gail Cook, head of regional professional indemnity (PI) in London, who also runs the insurer’s regional solicitors’ PI strategy, has gone.And Dominick Rogers, underwriting manager for Scotland and Northern Ireland has also left ...
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Court to decide who pays for pollution clean-up
Insurers have warned that the outcome of a landmark case to be heard by the Court of Appeal this week could lead to pollution-related exclusions on public and general liability policies. The case will decide whether clean-up costs arising from pollution are covered by a public liability policy. Experts said ...
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AXA calls for police focus in fighting fraud
Police do not have suffcient resources to reduce fraud effectively, says insurer
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D&O cover set to broaden, predicts Miller
Market will follow Liberty's lead in widening cover
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Online onlyMorocco reinsurer gets positive rating
Société Centrale de Réassurance shown to be in a good position by S&P
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Novae appoints head of financial instiutions team
Richard Allen promoted as new active underwriter appointed
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I will make you rich, says R&SA’s new broker boss
Earlier this year, Paul Donaldson, stood in front of a group of brokers and declared: “I will make you rich.” The crowd, at a dinner hosted by the insurance company, cheered. Donaldson, the incoming managing director of the broker division at Royal & SunAlliance (R&SA), clearly knew how to grab ...
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Direct Line targets SMEs in commercial launch
Direct Line is set for a major push into the direct commercial market with the launch of four new products this autumn. The UK’s largest car insurer said the commercial roll-out would be aimed at sole traders and partnerships.Under its umbrella brand Direct Line for Business, the insurer will offer ...
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DA Constable sues over premiums
QBE syndicate DA Constable has launched a High Court legal battle to win back payment of almost half-a-million pounds in premiums from a construction group.According to a writ, the syndicate is suing five companies owned by John F Hunt, relating to premium disputes from 2003 to 2006.It is alleged the ...
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Heritage profits soar despite UK reduction
Heritage this week reported pre-tax profit had more than tripled in the first half of the year. Pre-tax profit was £10.5m up from £3m in 2006. But the company will continue to withdraw from the UK market owing to difficult conditions. Unveiling the company’s interim results, Heritage chief executive Richard ...
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US sub-prime crisis could cost UK insurers $500m
Analysts have warned that claims relating to the US sub-prime crisis could cost UK insurers $500m. The warning came as Novae confirmed it had received notifications of potential sub-prime related claims. Novae received notice from policy-holders that two claims could be made under professional liability policies, as litigation begins in ...
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R&SA to roll out six ‘open door’ underwriting sites
Royal & SunAlliance (R&SA) will roll out six further “open door” underwriting sites across the UK following the success of its site in Leeds. The insurer is set to open market sites in Glasgow, Birmingham, Manchester, Croydon, Bristol and Liverpool. The market sites enable brokers to deal face-to-face with underwriters.Paul ...
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Roadsure boss quits to seek new role
Roadsure managing director Simon Jackson has left the specialist motor broker, it has emerged. Jackson, a former director of BGL, joined Roadsure in 2005, with the aim of building a £100m GWP business by 2010. Roadsure originally specialised in motorcycle and non-standard motor risks, but has begun to expand into ...
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European Commission tells insurance industry to ‘justify practices or reform’
The European Commission released its final report on the business insurance sector on Tuesday, building on its interim report from January. The report, which prompted furious criticism from Biba, raised concerns over reinsurance and co-insurance practices involving the alignment of premiums. It also highlighted the issue of broker commission transparency, ...
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IIS launches eco-discounted commercial policy
10% saving available for good environmental practice
