The Financial Services Authority (FSA), Office of Fair Trading (OFT) and Financial Ombudsman Service (FOS) are proposing to set up a consumer protection committee. In a discussion paper, the watchdogs state: “A key element in rebuilding consumer confidence in financial services is that firms carrying out activities regulated by the FSA and/or licensed by the OFT should treat complainants fairly.” The proposed new body would therefore... 

Most states in the U.S. mandate that drivers have some sort of automobile coverage to register and maintain registration on a vehicle and to legally operate an automobile. These requirements are designed to make sure that individuals who are involved in traffic collisions have a way of paying or receiving monies for injuries and/or property damage resulting from accidents. Although many states allow various ways for consumers to prove “financial... 

Cadwalader, Wickersham & Taft LLP has announced the appointment of Jennifer Donohue as a partner in the Corporate Department of the London office. Donohue was formerly the head of the Insurance & Reinsurance Group at Simmons & Simmons, and brings with her a tremendous range of knowledge and expertise. Earlier in her career she worked for Her Majesty’s Government as a senior legal adviser in the UK and Brussels, and qualified as... 

Research from the AA has found that claims by UK motorists for pothole damage to their vehicles have increased by over 600 per cent in the last three years. The new study shows that drivers claimed  Read More →

According to new research from Aviva, the torrid weather of winter has fuelled an understandable desire to holiday abroad. However, the insurer has discovered that, worryingly, the ongoing economic difficulty and consumer belt-tightening has led 31% of would-be travellers to state they intend to skip taking out travel insurance or were considering going without it. Sixty-two percent of travellers have said they intend to set careful limits on daily... 

SEATTLE, March 11 /PRNewswire/ — PEMCO Insurance, Washington’s largest locally based insurer, recently introduced a new set of tools on the company’s websites designed to enhance visitors’ experience…  Read More →

INSURERS paid out Pounds 650m in weather-related claims as the UK suffered the coldest winter for 30 years, a trade body said today. Around 335,000 claims were made between December 18 and January 13 …  Read More →

Munich Re has reported that it made a net income for 2009 of €2.56bn, an improvement of two-thirds on 2008 when €1.58bn was made. However, the firm has yet to match the record €3.9bn profit made during 2007, before the full impact of the financial crisis struck. The firm has also expressed its confidence regarding 2010, and predicted that profits will remain over the €2bn threshold. Chairman Nikolaus von Bomhard has stated that the firm’s... 

Unfortunately for young motorists the road leading to affordable auto insurance can be a little more difficult than those who are more mature and have more experience behind the wheel. The reason for this is that younger motorist, especially teenagers are statistically shown to have a higher involvement in traffic collisions. From a statistical standpoint, teenagers are much more likely to have an accident and also have bad driving habits including... 

International insurance and reinsurance group Brit Insurance has announced the establishment of its new office in Australia, replacing its previous third party agreement. The new office is situated in Sydney’s financial district, and will offer local representative services for the firm’s reinsurance activities. At the same time, Brit has announced the appointment of Mike Davidson as MD in Sydney, a post he occupies with immediate effect.... 

Over 50s specialist, Saga, has revealed that the average annual vet bill for the UK’s cat and dog owners has risen by 53% since 2007, to £598. With costs increasing at twice the rate of inflation, the North West has emerged as the most expensive region in which face a trip to the vets. The average annual bill in the area…  Read More →

LOS ANGELES, March 10 /PRNewswire/ — The average motorist has the tendency of purchasing an auto insurance policy and continues paying premiums without reviewing whether the current coverage listed i…  Read More →

MIAMI, March 10 /PRNewswire-FirstCall/ — Infinity Auto Insurance announces a special promotion offering discounted gas to Miami drivers. The event takes place today between 11:00 a.m. – 2:00 p.m. at …  Read More →

The Tar Heel State follows the Financial Responsibility law which went into effect in 1957; this law requires motorists to maintain a liability policy at all times during the registration period of a vehicle. The state takes this requirement very seriously with the full intention of protecting NC residents and motorists; the Financial Responsibility Act of 1957 was designed to ensure that compensation is in place for property losses and personal... 

International general insurance and reinsurance group Brit Insurance has announced the appointment of Bill Jackson as senior VP of Property Direct and Facultative for its US operations. He brings with him over three decades of re/insurance experience, and extensive knowledge of underwriting, management and marketing. He joins Brit from Burt and Scheld, where he worked as senior underwriter in the facultative unit. Jackson assumes the newly created...