LV= car insurance has commissioned research indicating that 4.2 million motorists who do not wear glasses admit that their vision is imperfect, and 1.1 million drivers who have glasses or contact lenses for driving so not always wear them. The most common reason, reported by more than half, for not wearing glasses was simply forgetfulness, with 32% stating they do not need them, despite medical advice. Twenty-three percent who do not have glasses... 

Marsh has announced the appointment of Ann Collins to the newly created post of client services director for the Isle of Man. She previously worked for Aon, in Douglas, for six years, when she was an MD tasked with leadership of Aon’s Isle of Man broking team. She brings extensive experience to Marsh, and has worked in the insurance sector for more than three decades  Read More →

As of 1977, the Volunteer State implemented the Financial Responsibility Law and similar to other states, began requiring motorists behind the wheel of a vehicle to have the ability to compensate for injuries and property damage that they may cause while operating an automobile. The financial responsibility law was designed by state legislatures to ensure that individuals who are struck by another motorist while in an auto or as pedestrian are... 

Standard Life has announced up to 500 job losses over the next 15 months, as the group continues its cost reduction programme. The life and pensions provider may be cutting as many as 600 jobs, mostly at its Edinburgh base, while at the same time creating up to 100 new posts. It is understood that 100 of the affected roles are held by contractors, a further 100 jobs will go through natural attrition and that 24 job losses will be absorbed through... 

Marsh has launched a product designed to protect water utility companies against the cost of a serious contamination incident. With industry regulation tightening and the threat of terrorism increasing, water utility firms globally are firming up their attitude to risk and the insurer claims the policy is the first of its kind. It can provide cover of up to £10 million for accidental contamination, malicious contamination or extortion relating... 

Allianz has announced the appointment of Gary Coton to the position of household claims operations manager. Coton brings to the post 17 years of experience, and most recently worked for AIG where he was tasked with enhancing the efficiency of operations pertaining to the Premium Booking and Accounts Receivable process. In his new role he will assume responsibility for the daily management of the UK Household and Corporate Partner claims for Direct... 

If a resident of the United States wishes to register and operate a vehicle legally then the chances are that they must carry a car insurance policy that meets a particular state’s requirements to do so. States vary substantially in the type of coverage required by law and in the limits each portion of a policy must meet. The majority of states require motorists to carry some type of property liability, but some states may require bodily... 

Honest motorists in the UK are footing an annual bill of more than  Read More →

Aon has appointed Bruce Grant as senior broker, renewable energy team. Mr Grant joins from Marsh, where he managed the renewable energy team and designed and placed major offshore wind policies, having co-designed what have since become the standard offshore wind policy wordings. He brings over a decade of renewable energy experience, including working on the first offshore wind deals placed …  Read More →

Aviva’s RAC unit has launched a specialist patrol team to aid the 400-plus motorists per day who accidentally put the wrong fuel in their cars. RAC Fuel Patrol vans are fitted with equipment to extract the contaminated fuel and flush the vehicle’s fuel system on the spot, with motorists driving away, on average, 40 minutes after the patrol arrives at the scene. The service is not included as part of a breakdown policy, but is available... 

The law of the Garden State requires motorists to maintain auto insurance in order to register and keep registration valid on all automobiles. The most common type of policy purchased to satisfy the state’s laws are known as a “Standard” policy, which includes liability coverage, personal injury protection and Uninsured motorists. Although, the state may also allow a motorist to purchase what is known as “Basic”... 

Recent figures show insurance premiums have had the biggest increase at the fastest rate the motoring organisation has seen, since it started recording premium trends back in 1994.According to the AA …  Read More →

Specialist home insurer Hiscox has commissioned research which reveals that homeowners are exposing themselves by leaving valuable sports equipment, unsecured, in gardens and garages. The goods, with an average value of £770, are left in gardens and car boots by 53% of the professionals surveyed. More than a quarter (26%) also admitted that their gardens and outbuildings were not properly secured. Two out of every five either do use their sporting... 

Annuity rates have hit an all-time low, according to new research from Moneyfacts.co.uk. Insurers that provide annuities offer a monthly income in exchange for a retiree’s pension pot and rates have apparently been falling steadily for months. The financial website claims that the average rate for a male aged 65 purchasing a level without guarantee annuity (based on a £10,000 purchase price) has decreased by 6.3% in the past year, whilst... 

European reinsurer Glacier Reinsurance has announced that it will no longer accept or write new business, and that, with immediate effect, its existing portfolio will be placed in an orderly run-off. The run-off process will be self managed by Glacier Re. The decision was made by the Board, in the light of the recent sale of Glacier Re’s wholly-owned subsidiary Glacier Insurance to Torus Insurance. In making this move, the Board is seeking...