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 →

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... 

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... 

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... 

Honest UK motorists are paying £1.25 billion a year to support the activities of dishonest drivers. According to research from Co-operative Insurance, the average car insurance premium carries a £50 penalty to cover costs incurred by uninsured and fraudulent road users. Launching a joint initiative with road safety charity, Brake, Co-operative Financial Services chief operating officer, Tim Franklin, said: “Millions of people are deliberately... 

Bermuda-based specialty insurer Endurance Specialty Holdings Ltd. has announced that Arturo E. Falcon has joined Endurance Worldwide Reinsurance. Falcon is appointed to the post of head of the global reinsurance portfolio in Latin America, and is to be based in the reinsurance office in Miami. He brings a quarter of a century of experience of reinsurance to Endurance, and has held a range of positions supervising underwriting, actuarial and claims... 

Travellers are being urged by World First Travel Insurance to thoroughly research the travel insurance market to ensure they have an appropriate level of coverage when on holiday. Managing Partner Martin Rothwell has described failure to take out insurance as a false economy and a huge risk. Travellers can browse hundreds of insurers through price comparison websites, but opting for a cheaper policy could actually prove to be more expensive in... 

QuestGates, the specialist loss adjuster, has announced a brace of appointments to bolsters its environmental team with new claims handlers. Stephanie Jones was formerly a liability claims team leader with Primary General, and joins QuestGates alongside Clinton Slabber, previously a claims negotiator with Sterling Insurance. Jones is to be based in Bolton, and Slabber in Maidstone. Director of the Environmental Claims Division Alan Dobson explained... 

Fortis UK has reported its financial results for the first six months of 2010. The firm saw non-life gross written premiums increase by almost 17%, from £401.6m in the first half of 2009 to £468.4m in the first six months of this year. Fortis achieved a pre-tax profit of £8.4m, a welcome turn around from the loss of £3.2m incurred in the first quarter of the…  Read More →