Market
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Lloyd’s say claims time cut by 40% in pilot of new initiative
Lloyds say that claims transactions in its market have been cut by 40%, from 25 to 15 days, in a…
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Most insurers robust but 10% fail EIOPA’s adverse Solvency II stress test
According to the European Insurance and Occupational Pensions Authority’s (EIOPA) second Solvency II-related stress test most European insurers remain ‘robust’…
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Mandatory cover for environment still not needed—Bell
Compulsory insurance coverage for Europe’s companies to fix damage caused to the environment is both impractical and unnecessary according to…
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Environmental Civil Sanctions give regulators more freedom to act
The Environmental Civil Sanctions Order & Regulations 2010, which came into force in England and Wales in January of this…
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IAIS issues concept paper on its planned Common Framework for IAIGs
In a bid to close the gap in international supervision of insurance groups the International Association of Insurance Supervisors (IAIS)…
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Corporate round-up
XL Group Plc appoints Paolo Ribotta as Head of Global Distribution, Tony Dilley appointed to newly created role of International…
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Ten largest non-life insurers showed signs of strength in 2010-Mapfre
The ten largest non-life European insurers showed signs of strength in 2010, according to the latest annual ranking released by…
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Chartis launches CII accredited EIL training for brokers
Chartis Insurance UK has launch of a suite of environmental training materials, accredited by the Chartered Insurance Institute (CII), predominantly…
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Tentative step towards global programmes solution taken at London meeting
A senior group of insurance and risk management market figures met at the end of June at the offices of…
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Proposed delays to Solvency II met with mixed reaction
The Council of the European Union’s proposals to delay Solvency II until 2014 has been met with a mixed reception…
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Belrim President calls for clarification on ELD from EU
Gaetan Lefevre, President of Belrim, the Belgian risk management association, has called on the European Union (EU) to provide urgent…
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Corporate round-up
JLT intends to buy majority interest in Chile broker Corredores de Seguros, Liberty launches new joint initiative to provide war…
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Global political violence rates likely to increase at Jan 1 renewals-ACE
Whilst rates for terrorism and political violence cover in distressed parts of the world such as Libya and Bahrain have…
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Corporate insurance intake up in 2011—FFSA
Corporate insurance premium intake rose in France in the first four months of 2011, according to the latest statistics released…
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Further tests lie ahead for French insurance industry
The resilience of the French insurance industry will be further tested in the next two years on a variety of…
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UK regulator to differentiate insurance risks as Solvency II start questioned
Insurance regulation in the UK under the Prudential Regulation Authority (PRA) will be ‘forward looking’, recognise the different risks posed…
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German motor insurers anger buyers with mid policy price hike demands
German risk managers are angry over the practice of at least four German motor insurers who have attempted to impose…
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Corporate round-up
EIOPA’S stakeholder groups elect new Chair and Vice Chair and Catlin Re Switzerland opens Madrid office and adds senior underwriter.
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US tornado losses approach $20bn and add to pricing pressure-analyst
Global losses from the tornadoes that struck the US in April and May are approaching $20bn and will add to…
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CBI underwriters failing to price and reserve risk correctly says JLT
Highlighted by the recent Japan earthquake and subsequent Tsunami underwriters are failing to properly rate and reserve contingent business interruption…
