Commercial Lines related articles – Page 267
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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
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Close reaffirms credit lines despite global credit squeeze
Premium finance will remain open
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QBE launches on-shore construction account
New account to target worldwide gas and construction risks
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Online onlyCosts add up for Typhoon Wipha
Insured losses will not exceed £124m says risk modelling company
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Saga and AA fire back at GMB
The merged company says claims of 2,000 jobs losses are totallly inaccurate
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AA loses senior management team
Four directors have been replaced by Saga employees as merger is finalized.
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APIL calls for governmnent action on insurance database
Claimant lawyers say EL database needed trace insurance policies
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Countrywide Launches Partner Broker Commercial
The Countrywide network extends its Partner Broker initiative to cover commercial business
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Ellis slams buyers who overpay for brokers
Broker Network chief executive Grant Ellis has hit out at the unrealistically high prices being paid for brokers by consolidators. Ellis said some acquirers were paying over the odds for brokers and demonstrated a lack of rigour when it came to calculating the potential returns. His comments were made as ...
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NewsPI insureds warned to flag up possible claims
?The High Court has warned of the importance of adhering strictly to the notification requirements in professional indemnity (PI) policies and those that cover on a ‘claims-made’ basis.A key feature of all PI policies is that an insured can notify its current insurers when it becomes aware of circumstances that ...
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NewsIndustry calls for action to cut construction death toll
The insurance industry has warned the government that it must be prepared to take tough action against companies which flout health and safety rules, if it is to slash the number of deaths at construction sites. Government officials, the construction industry and trade union representatives met this week to hammer ...
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Insurers win first round in Tesco’s £155m tunnel collapse claime
Defendant insurers have won a preliminary battle against Tesco in its £155m legal battle, relating to the Gerrard’s Cross tunnel collapse. The court narrowed the scope for Tesco to claim back money it paid out to the Chiltern Railways following the collapse of the tunnel in 2005.In a preliminary ...
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NewsAviation rates falling
?The aviation insurance market is continuing to soften despite a sharp increase in premiums last month, Aon said. It warned that if rates continued to fall then capacity could withdraw from the market. The average lead hull and liability premium increased by 9% in August – the first increase for ...
