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Industry News

Obama aide puts moral case to health insurers

Barack Obama’s top health official made a tough moral case to insurance giants Wednesday: put people and patriotism before profits and drop opposition to the president’s overhaul plans. Health and Human Services Secretary Kathleen Sebelius braved an industry conference two days after Obama issued a stinging attack on health insurance firms, accusing them of dumping ailing customers to hike profits. Her intervention marked another escalation in the White House’s attempt to drive the health care plan to a successful conclusion,... 


White House, top ally, feud over health goal

The White House and one of its top allies in the US Congress feuded Tuesday over a target date for enacting President Barack Obama’s historic but embattled health care reform bill this month. Obama spokesman Robert Gibbs stuck with his prediction that the House will vote on the sweeping legislation by March 18, when the president leaves for a week-long journey to Indonesia and Australia, calling it a “doable” time frame. “The information I gave out last week was based on conversations with staff that I had had here in the...  Lire la suite

US insurance giant AIG has agreed to sell its Asian arm, AIA, to British insurer Prudential for around 35 billion dollars

US insurance giant AIG has agreed to sell its Asian arm, AIA, to British insurer Prudential for around 35 billion dollars (26 billion euros, 23 billion pounds), a source close to the deal said. American International Group (AIG), which received a huge taxpayer bailout to stave off collapse during the financial crisis, had been persuaded to let Prudential take over its Asian businesses, said the source late Sunday. The deal will transform Prudential into the world’s top non-Chinese insurer by market capitalisation, ahead of major competitors...  Lire la suite

Motor insurance premiums to double for motorists speeders

Motorists convicted of speeding could see the cost of their motor insurance premiums almost double according to research by moneysupermarket.com, which also reveals the UK’s worst speeding culprits*. The price comparison site analysed almost three million motor insurance quotes over a year from motorists with driving convictions. It reveals boy racers in East Dunbartonshire, Scotland, are the worst offenders – with over half (54 per cent) of all the speeding convictions in the G62 postcode area belonging to the male drivers aged 17-21. Also...  Lire la suite

Fraud costs UK £30 billion with £2 billion lost in insurance fraud

The National Fraud Authority (NFA) has released the UK’s first comprehensive fraud estimate which estimates that fraud costs the UK over £30 billion a year or £621 per adult. The public sector accounts for 58 per cent of the total figure, the private sector 31 per cent and fraud against individuals 12 per cent. The public sector amount represents a relatively small percentage when taken in context of the sector’s overall turnover. For example, within this figure tax fraud, the highest single area of fraud loss, estimated at £15.2...  Lire la suite

Space insurers expected to generate more than $400 million in profit for 2009

Space insurers are expected to generate more than USD400 million in profit for 2009 provided there are no claims before the end of the year, according to Aon’s International Space Brokers, the largest specialist risk adviser in this sector. The space insurance market has been very profitable over the last five years and this will inevitably lead to more competitive premiums for satellite operators in the New Year as the capacity for space risks continues to increase. In 2009, more than USD800 million of premiums is expected to be paid for ‘all...  Lire la suite

Munich RE warns about the rising cost of climate change
Cost of big freeze on households reached £2 billion
Reinsurers had good fortune
Official tells US health insurer to justify 39 pct rate hike
Obama in Super Bowl health care gambit
Standard Life launches ‘future money’ campaign Including weekend sponsorship of Dave TV Channel
Obama warns voters will judge Congress on health care
Car insurance premiums could rise by 15% in 2010
35% of workers do not have business use cover on their car insurance
Aviva launches its new corporate website in Spain
Car insurance premiums rise by 20% during 2009
WEATHER WARNING – Feb 3, 2010: Heavy snow for all UK regions
Swiftcover awarded best Value for Money car insurer by Lovemoney.com
Clear Bike Insurance selects White Knight Solutions as claims partner
75% of UK SMEs say competitive price is key factor in buying business insurance
CEIOPS and Swiss Insurance Supervisor agree to further enhance supervisory cooperation
US: Obama still fighting for health care
BIBA welcomes Government law proposals to help customers find insurance
Aviva opens wrap and sipp platforms for new business
Not enough tax contribution to keep UK insurers in the country
Aon Benfield launches groundbreaking facultative platform “FAConnect”
Warning when driving too ill
Britain economy set to exit the recession
Zurich to enhance strategic business risk modeling
US: Obama to keep up the fight for meaningful health insurance reforms
WEATHER WARNING – Jan 21, 2010: Heavy snow and Freezing Rain for central Scotland
Aviva awarded for putting customers needs at the heart
Obama allies cautiously vow to pursue health overhaul
Aviva’s motoring organisations RAC launches iPhone traffic apps
WEATHER WARNING – Jan 20, 2010: Heavy Snow for London, South East/West England…
International supervision regulation on insurance groups approved
Obama allies seek to save health care plan
Iggy Pop reveals ‘Little Iggy’ in new £30million swiftcover.com ad campaign
Count Down to RTA PI Claims Process Reforms Begins
Zurich to provide earthquake relief for Haiti
UK government must support contract bonds for exporters
World Economic Forum Global Risks report warns of long shadow of the Financial Crisis
WEATHER WARNING – Jan 15, 2010: Widespread Icy Roads for all UK regions
US: Obama, allies, seek imminent health deal
Groupama Healthcare awarded for its products clarity and accessibility
WARNING of flash flooding as snow thaws
World Bank to help Haiti with $100 million aid
Obama looks to pump up Democratic allies
US: Obama, top lawmakers grapple with health care obstacles
Ship owners to face $150m Protection & Indemnity premium increase
Increase of car insurance searches on 4×4 vehicle
WEATHER WARNING – Jan 13, 2010: Heavy snow and Widespread Icy Roads for all UK regions
Eurostar planned services for Wednesday 13 January 2010
Recent severe cold in West Country has cost a quarter of a million pounds
WEATHER WARNING – Jan 12, 2010: Heavy snow for all UK regions
WEATHER WARNING – Jan 11, 2010: Heavy snow and widespread icy roads for all UK regions
Pull of aggregators increases
Swine flu activity is decreasing across the UK
Insurers confidence to be more difficult to sustain as brokers confidence boosted
Obama promises changes in US health care this year
ABI disappointed by Court of Session judgment on Scottish Pleural plaques
WEATHER WARNING of heavy snow and widespread icy roads for all UK regions
Insurance-Linked Securities – Strong outlook for 2010
US: State Insurance Regulators offer insights to ensure success of health reform effort
MORE TH>N launches accident iPhone application
Munich Re sees catastrophe bond Market back to normal
Snowy weather could cost Britain’s economy £14.5 billion
UK commercial insurers could be hit by the recession due to more risks
US lawmakers ‘very close’ to final health deal: Pelosi
EU changes leave offshore insurance services with VAT bill
WEATHER WARNING of heavy snow for Wales
US: Obama, democrats forge ahead on health care overhaul
Australian Regions floods declared natural disaster
US insurer GEICO launches iPhone app: GloveBox
Reinsurance rates decline at January 1, 2010 Reinsurance Renewal
Aviva Canada improves broker connectivity via Applied Systems’ WARP technology
AXA UK launches iPhone app: ‘AXAdent’ to help motorists involved in an accident
HCC International to sponsor the SailEAST 2010 race season
M&S home insurance helps householders reduce their envrionmental impact
Reinsurance sector has made remarkable recovery despite global economic headwinds
Top 20 Insurance websites traffic for December 09
BIBA warns that Small Businesses are Vulnerable to Survive major incidents
2009 a ‘benign’ year of natural disasters
WEATHER WARNING of heavy snow and widespread icy roads for all UK regions
Trade credit insurers pay record amount in claims
Natural catastrophes cost insurers $20 billion in 2009
Allianz Insurance awarded Corporate Sustainability at the Insurance Times Awards 2009
Eurostar train allocation system for Tuesday 22nd December
Compensation policy for Eurostar travellers who were on delayed trains Friday 18th and Saturday 19th December 2009
Munich RE’s CEO, Nikolaus von Bomhard stunned by Copenhagen outcome
Over 100 families helped every day by critical illness and life insurance
AA launches iPhone app: Driving Theory Test
Obama health care overhaul clears key Senate test
QBE and the Government campaign for higher standards of work-relateed road safety
US: White House presses for health care reform deal
LV= awarded customer service contact centre of the year
The challenges and opportunities in commercial liability insurance
Workers’ pensions rebound by £103bn during 2009
US: Legislation to include six-month extensions of unemployment benefits
UK insurance market premium income down 18 per cent in 2008 with a further fall in 2009
British micro-business ‘revolted’ by law on insurance
Insurers facing new law
Britons, it’s time to act on climate change
Groupama Insurances rolls out fraud prevention solution across household and commercial insurance business
Flexible benefits programme could help employees better manage their time off from work