Marsh is predicting an increase in Initial Public Offerings (IPOs) in the months ahead, fuelling demand for management liability insurance. The broker is basing its forecast on the early signs of economic recovery and the introduction of new rules for UK firms listing on the London Stock Exchange (LSE). In April, new “lighter-touch” rules for UK firms listing on the LSE will enable companies to choose either a standard or premium listing, potentially encouraging more firms to go public. The new standard listing, which was previously only available to overseas companies, means UK firms will be able to get a listing without the need to comply with what Marsh describes as “onerous” rules on corporate governance, capital raising and disclosure. For managers and directors…

Consumers are well aware of how much it can cost to insure a vehicle in the United States and know that they will likely need to do so in order to legally operate a vehicle. With this in their minds they all have the same question when they set out to purchase automobile coverage; What company has the cheapest car …

As an incentive for younger drivers to be safer on the road, the Institute of Advanced Motorists (IAM) has arranged cheaper car insurance premiums for those that have passed an advanced driving test. The IAM Safety Insurance is available from Adelaide Insurance and is exclusively for IAM members. Up to now, only those drivers aged 21

Hauliers stand to benefit from the collaboration of Bradford-based National Breakdown and Halifax firm Donald Insurance which have teamed up to provide a nationwide commercial solution to HGV and fleet owners. Their combined fleet and HGV insurance is a single policy under which goods in transit, property, liability and breakdown coverage is all provided. It is the first combined policy of its kind in the United Kingdom, and should provide some welcome relief to the nation’s hauliers. National Breakdown Director Carolyn Bowe has said that by pooling expertise with Donald Insurance the two firms have been able to offer a new, innovative product for HGV and fleet owners. Bowe went on to say that breakdown coverage was rarer …

Bupa has stated it will now grant group critical illness claimants (and their families) access to independent and confidential advice, guidance and medical information. The enhanced feature comes at no increase in premium cost. The Best Doctors® service includes a database 50,000 medical professionals strong, and will provide independent and expert medical assessments of conditions. The service augments, rather than replaces, the treating doctor, giving a headstart to a correct diagnosis and thus speeding up appropriate treatment. Bupa Health Assurance Director Steve Payne has said that the enhanced service provided will help employers to fully support their staff. Payne added that the independence of the medical specialists dispensing advice meant that it did not affect the assessment or result of a …

Worldwide business property insurer FM Global has announced its 2009 financial results, including a robust underwriting performance and above average investment portfolio return. Gross premium in force rose by 5.6% to $4.7bn, with net income recorded at $840m. A combination of good underwriting and investment performance saw policyholder surplus increase to $6.3bn, a rise of 35%. FM Global exceeded predictions to achieve a profitable combined ratio of 69.6%, a statistic attributed to the absence of large insured natural disaster losses. Chairman and Chief Executive Officer Shivan S. Subramaniam has stated that the firm has managed to endure the last decade very well, coping with natural disasters and terrorist incidents, as well as …

Aviva has broken into a new market with the acquisition of a 60% stake in PT Asuransi Winterthur Life Indonesia (WLI). According to the insurer, Indonesia is one of the fastest growing life insurance markets in Asia, and the acquisition is consistent with the its long-term strategy to build a presence in key South East Asian markets. WLI has gross assets of £15 million and manages pension fund assets totalling £42 million. It is a top three health insurance provider in the country, and has a 6% share in the Indonesian financial institutions’ pensions market. The firms offers a broad range of life, health and pension products, operating predominately through employee benefit consultants, brokers and non-exclusive bancassurance channels. Aviva Asia Pacific chief executive, Simon Machell, says: “It is another step…

State law in AL mandates that no person shall operate, register or maintain registration of an automobile unless the owner can provide valid proof of financial responsibility; this is usually done by purchasing a car insurance policy which meets the states minimum liability requirements. Currently the state’s minimum limits of liability limits which must be maintained at all times are $25,000 for injury liability for one person in an accident and $50,000 for all injuries per accident and a minimal limit of $25,000 for property damage which was made effective by Act 2008-393. In addition, all policies must be provided by a carrier who has been approved by the state to issue such coverage. Proof of a valid policy must be carried at all times and the documentation must…

Wesleyan Assurance Society, the financial services specialist for professionals, has announced that it enjoyed a good year in 2009 and released its financial performance figures for that year. The firm saw new business sales rise by 11%, with ISA and unit trust sales up 59% and income protection product sales rising by 36%. Wesleyan also increased the quantity of its funds under management by 11.7% and recorded 20.1% gross investment return on the main with profits fund. In February Investment Director Mike Lewis attributed the strong with profits return to Wesleyan’s faith in the long term potential of equities investment, which it remained heavily invested in during previous years leaving it in a position to enjoy the rewards in 2009. The firm also enjoyed being the sole recipient of a 10/10 rating from Cazalet Consulting’s…

Consumer body Which? has reported that the car insurer Admiral charges higher premiums to drivers who have not lived in the UK since birth, which could mean that Admiral is in breach of the 1976 Race Relations Act. The Which? investigation uncovered that the Admiral group, which includes car insurers Diamond, Bell and elephant.co.uk, added about