http://www.news-insurances.com News-Insurances.com is an independent online media providing the latest insurance news for the insurance industry and consumers Thu, 09 Sep 2010 07:53:48 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 http://www.news-insurances.com/study-annuities-allianz-survey-shows-americans%e2%80%99-preferences/0167315012 http://www.news-insurances.com/study-annuities-allianz-survey-shows-americans%e2%80%99-preferences/0167315012#comments Wed, 08 Sep 2010 15:38:47 +0000 Sofia Ashmore http://www.news-insurances.com/?p=315012 More than half (nearly 54%) of Americans aged 44-75 expressed distaste for the word “annuity”, according to a recent survey from Allianz Life Insurance Company of North America (Allianz Life). An overwhelming 80 percent of the more than 3,200 surveyed preferred a product with four percent return and a guarantee against losing value over a [...]]]> http://www.news-insurances.com/study-annuities-allianz-survey-shows-americans%e2%80%99-preferences/0167315012/feed 0 http://www.news-insurances.com/friends-provident-new-tool-helps-employers-track-absences/0167314772 http://www.news-insurances.com/friends-provident-new-tool-helps-employers-track-absences/0167314772#comments Wed, 08 Sep 2010 14:14:24 +0000 Barbara karouski http://www.news-insurances.com/?p=314772 Friends Provident has launched a new absence tracking system aimed at helping employers monitor absence trends and calculate how much employee absence is costing them. With recent figures showing the spiraling cost of absence to the UK economy, this new system enables employers to monitor absence rates through reporting tools which evaluate absence by department, [...]]]> http://www.news-insurances.com/friends-provident-new-tool-helps-employers-track-absences/0167314772/feed 0 http://www.news-insurances.com/good-to-know-natural-disasters-claim-filing-advice-for-homeowners-and-business-owners-affected/0167314562 http://www.news-insurances.com/good-to-know-natural-disasters-claim-filing-advice-for-homeowners-and-business-owners-affected/0167314562#comments Wed, 08 Sep 2010 12:09:56 +0000 George Stobbart http://www.news-insurances.com/?p=314562 An ongoing hurricane season, flooding in Texas and wildfires in Colorado are reminders that consumers need to understand the claims process, according to the Insurance Information Institute (I.I.I.). Standard homeowners’ insurance policies cover damage caused by wind, fire and many other disasters. Policies also include coverage for additional living expenses (ALE), which pays the additional [...]]]> http://www.news-insurances.com/good-to-know-natural-disasters-claim-filing-advice-for-homeowners-and-business-owners-affected/0167314562/feed 0 http://www.news-insurances.com/aon-pricing-of-1-5-billion-of-senior-unsecured-notes/0167314504 http://www.news-insurances.com/aon-pricing-of-1-5-billion-of-senior-unsecured-notes/0167314504#comments Wed, 08 Sep 2010 10:21:05 +0000 George Stobbart http://www.news-insurances.com/?p=314504 Aon Corporation today announced that it has agreed to sell $1.5 billion of senior unsecured notes in an underwritten public offering. Of these notes, $600 million will mature on September 30, 2015 and bear interest at a fixed annual rate of 3.50 percent; $600 million will mature on September 30, 2020 and bear interest at [...]]]> http://www.news-insurances.com/aon-pricing-of-1-5-billion-of-senior-unsecured-notes/0167314504/feed 0 http://www.news-insurances.com/appointment-terry-mcginness-is-xl-insurance%e2%80%99s-new-chief-information-officer/0167314464 http://www.news-insurances.com/appointment-terry-mcginness-is-xl-insurance%e2%80%99s-new-chief-information-officer/0167314464#comments Wed, 08 Sep 2010 09:52:35 +0000 Sofia Ashmore http://www.news-insurances.com/?p=314464 XL Insurance, the global insurance operations of XL Group plc, today announced the appointment of Terry McGinness as Chief Information Officer (CIO) for its International Property & Casualty as well as Global Specialty business units, based in London. Mr. McGinness joins XL Insurance from Arthur J Gallagher, where he was CIO for all businesses outside [...]]]> http://www.news-insurances.com/appointment-terry-mcginness-is-xl-insurance%e2%80%99s-new-chief-information-officer/0167314464/feed 0 http://www.news-insurances.com/appointment-willis-group-welcomes-martin-sullivan-as-deputy-chairman-and-ceo-of-willis-global-solutions/0167314320 http://www.news-insurances.com/appointment-willis-group-welcomes-martin-sullivan-as-deputy-chairman-and-ceo-of-willis-global-solutions/0167314320#comments Wed, 08 Sep 2010 08:31:50 +0000 Sofia Ashmore http://www.news-insurances.com/?p=314320 Martin J. Sullivan is new Deputy Chairman of Willis Group Holdings and Chairman and CEO of the new business unit Willis Global Solutions, a brokerage and risk management advisory service for multinational and global accounts. As Deputy Chairman of Willis Group Holdings, he will assist in managing and shaping the long term growth strategy for [...]]]> http://www.news-insurances.com/appointment-willis-group-welcomes-martin-sullivan-as-deputy-chairman-and-ceo-of-willis-global-solutions/0167314320/feed 0 http://www.news-insurances.com/survey-canada-aon-canada%e2%80%99s-pay-increase-survey-expects-salary-jump-of-3-in-2011/0167313086 http://www.news-insurances.com/survey-canada-aon-canada%e2%80%99s-pay-increase-survey-expects-salary-jump-of-3-in-2011/0167313086#comments Tue, 07 Sep 2010 19:43:14 +0000 Tom Scott http://www.news-insurances.com/?p=313086 Nearing the completion of its data harvesting period, Aon Canada’s annual Pay Increase Survey shows strong signs that organizations are slowing down on freezing salaries.  Among the 184 organizations surveyed to date, only 1 out of 25 participants expect to freeze salaries in 2011.  This is a dramatic difference from previous years when 1 out [...]]]> http://www.news-insurances.com/survey-canada-aon-canada%e2%80%99s-pay-increase-survey-expects-salary-jump-of-3-in-2011/0167313086/feed 0 http://www.news-insurances.com/lv-british-mutual-insurer-sales-surge/0167312504 http://www.news-insurances.com/lv-british-mutual-insurer-sales-surge/0167312504#comments Tue, 07 Sep 2010 14:10:24 +0000 Barbara karouski http://www.news-insurances.com/?p=312504 Rising car insurance prices and strong demand for specialist annuities created a surge in British mutual insurer LV= sales. LV=, formerly Liverpool Victoria, had life insurance sales of 63.5 million pounds ($97.6 million) in the first six months of 2010, an increase of 40 % compared to 2009, while general insurance sales rose 37 percent [...]]]> http://www.news-insurances.com/lv-british-mutual-insurer-sales-surge/0167312504/feed 0 http://www.news-insurances.com/aon-benfield-new-application-for-mobile-devices/0167312146 http://www.news-insurances.com/aon-benfield-new-application-for-mobile-devices/0167312146#comments Tue, 07 Sep 2010 10:47:02 +0000 Barbara karouski http://www.news-insurances.com/?p=312146 Aon Benfield, the world’s premier reinsurance intermediary and capital advisor, today announces the launch of an application for its proprietary facultative placement platform, FAConnect. In response to client demand, the new App will be available shortly, both in Apple’s App Store for use across a range of Apple products – including the iPod touch, iPad, [...]]]> http://www.news-insurances.com/aon-benfield-new-application-for-mobile-devices/0167312146/feed 0 http://www.news-insurances.com/axa-partnerspace-an-online-portal-for-independent-brokers/0167312108 http://www.news-insurances.com/axa-partnerspace-an-online-portal-for-independent-brokers/0167312108#comments Tue, 07 Sep 2010 10:26:28 +0000 George Stobbart http://www.news-insurances.com/?p=312108 PartnerSpace is an easy to use, online portal offering independent brokers a secure forum where they can discuss business issues and ideas with AXA Insurance and other like-minded brokers using social media channels. It also gives brokers additional ways in which to interact and communicate with their dedicated sales support team, AXA Independent Partners. The [...]]]> http://www.news-insurances.com/axa-partnerspace-an-online-portal-for-independent-brokers/0167312108/feed 0 http://www.news-insurances.com/ecclesiastical-insurance-kevin-jones-new-director-of-strategic-development/0167311796 http://www.news-insurances.com/ecclesiastical-insurance-kevin-jones-new-director-of-strategic-development/0167311796#comments Tue, 07 Sep 2010 07:23:45 +0000 Tom Scott http://www.news-insurances.com/?p=311796 Ecclesiastical Insurance has appointed Kevin Jones in the newly-created role of Director of Strategic Development. Kevin joins Ecclesiastical from RSA where he was Commercial Director in the UK Broker Division responsible for overseeing the growth and transformation of the business. Before this he was an independent consultant working with financial services clients including a Lloyd’s [...]]]> http://www.news-insurances.com/ecclesiastical-insurance-kevin-jones-new-director-of-strategic-development/0167311796/feed 0 http://www.news-insurances.com/appointments-arista-boosts-team-in-bristol/0167310672 http://www.news-insurances.com/appointments-arista-boosts-team-in-bristol/0167310672#comments Mon, 06 Sep 2010 17:07:25 +0000 Sofia Ashmore http://www.news-insurances.com/?p=310672 Commercial lines underwriting specialist Arista Insurance has made three appointments to further strengthen its Bristol office. Jon Bodman joins Arista as senior underwriter from Chartis having developed the growth of SME business in the South West. He will be responsible predominantly for developing new business and managing existing accounts. Jon brings over seven years industry [...]]]> http://www.news-insurances.com/appointments-arista-boosts-team-in-bristol/0167310672/feed 0 http://www.news-insurances.com/iag-new-zealand-quake-losses-absorbed-by-reinsurance-arrangments/0167310624 http://www.news-insurances.com/iag-new-zealand-quake-losses-absorbed-by-reinsurance-arrangments/0167310624#comments Mon, 06 Sep 2010 16:23:25 +0000 Barbara karouski http://www.news-insurances.com/?p=310624 Insurance Australia Group says it is too early to determine the extent of damage after the quake in Christchurch. The insurer said it is focussed on assisting customers affected by the event. The group said it expects claim costs from the event to be entirely covered by its reinsurance arrangements. Subject to the damage caused [...]]]> http://www.news-insurances.com/iag-new-zealand-quake-losses-absorbed-by-reinsurance-arrangments/0167310624/feed 0 http://www.news-insurances.com/hscb-nedbank-south-africa-regulators-fear-foreign-control/0167310534 http://www.news-insurances.com/hscb-nedbank-south-africa-regulators-fear-foreign-control/0167310534#comments Mon, 06 Sep 2010 15:54:38 +0000 Tom Scott http://www.news-insurances.com/?p=310534 HSBC is in exclusive talks to buy a controlling stake in Nedbank, South Africa’s fourth-largest bank, from insurer Old Mutual. Yet rigid controls on currency outflows and comments from an official indicate HSBC’s $8 billion bid to buy 70 percent of South Africa’s Nedbank could yet be derailed. But South African regulators and politicians have [...]]]> http://www.news-insurances.com/hscb-nedbank-south-africa-regulators-fear-foreign-control/0167310534/feed 0 http://www.news-insurances.com/brokers-fighting-to-get-fairer-claims-from-insurers/0167310487 http://www.news-insurances.com/brokers-fighting-to-get-fairer-claims-from-insurers/0167310487#comments Mon, 06 Sep 2010 15:09:02 +0000 Sofia Ashmore http://www.news-insurances.com/?p=310487 New research has revealed that insurance brokers have to fight harder to get claims paid during the economic downturn due to the stricter policy interpretations and anti fraud-systems by insurers. In the research from the British Insurance Brokers’ Association (BIBA), 67% of broker respondents (BIBA research received 132 broker responses between 21st July and 30th [...]]]> http://www.news-insurances.com/brokers-fighting-to-get-fairer-claims-from-insurers/0167310487/feed 0 http://www.news-insurances.com/technology-hitachi-consulting-uk-delivers-consolidated-expense-processing-for-swiss-re/0167310026 http://www.news-insurances.com/technology-hitachi-consulting-uk-delivers-consolidated-expense-processing-for-swiss-re/0167310026#comments Mon, 06 Sep 2010 12:44:56 +0000 Sofia Ashmore http://www.news-insurances.com/?p=310026 Hitachi Consulting UK today announced that it has implemented a Cost Operations Shared Service Centre model on behalf of Swiss Re designed to provide consolidated expense processing and reporting for the company’s US and UK entities. Known internally as BOOST (BIS & Oracle Operations Standardisation), the project was based on Oracle ERP Financials, and designed [...]]]> http://www.news-insurances.com/technology-hitachi-consulting-uk-delivers-consolidated-expense-processing-for-swiss-re/0167310026/feed 0 http://www.news-insurances.com/aig-taiwan-end-of-unit-deal-for-hong-kong-buyer/0167309994 http://www.news-insurances.com/aig-taiwan-end-of-unit-deal-for-hong-kong-buyer/0167309994#comments Mon, 06 Sep 2010 12:17:19 +0000 Tom Scott http://www.news-insurances.com/?p=309994 US insurance giant American International Group has signaled it wants to end the sale of its Taiwan unit to a Hong Kong consortium after the deal failed to get the Taiwanese government’s approval. Taiwan’s Investment Commission late last month rejected the application for the acquisition of Nan Shan Life Insurance Co by Hong Kong-listed China [...]]]> http://www.news-insurances.com/aig-taiwan-end-of-unit-deal-for-hong-kong-buyer/0167309994/feed 0 http://www.news-insurances.com/equitable-life-urges-government-for-full-customer-compensation/0167309748 http://www.news-insurances.com/equitable-life-urges-government-for-full-customer-compensation/0167309748#comments Mon, 06 Sep 2010 12:01:41 +0000 George Stobbart http://www.news-insurances.com/?p=309748 The British mutual insurer Equitable Life urges the government to fully reimburse policyholders for their losses rather than cap compensation payments. Compensation should be based on an estimated loss of up to 4.8 billion pounds ($7.42 bn/ €5.75 bn) and should not be subject to a 400 million-pound cap proposed in an independent review in [...]]]> http://www.news-insurances.com/equitable-life-urges-government-for-full-customer-compensation/0167309748/feed 0 http://www.news-insurances.com/china-insurers-new-investment-possibilities/0167309572 http://www.news-insurances.com/china-insurers-new-investment-possibilities/0167309572#comments Mon, 06 Sep 2010 08:50:50 +0000 Sofia Ashmore http://www.news-insurances.com/?p=309572 China will now allow insurers to broaden investments into private equity and real estate, a move that could unleash as much as $100 billion worth of fresh funding into unlisted firms and the real-estate sector. Chinese insurers are allowed to invest up to 5 percent of their assets in private equity and 10 percent in [...]]]> http://www.news-insurances.com/china-insurers-new-investment-possibilities/0167309572/feed 0 http://www.news-insurances.com/aig-taiwan-bidder-says-still-no-formal-rejection-notice/0167309564 http://www.news-insurances.com/aig-taiwan-bidder-says-still-no-formal-rejection-notice/0167309564#comments Mon, 06 Sep 2010 08:30:22 +0000 George Stobbart http://www.news-insurances.com/?p=309564 China Strategic Holdings Ltd said on Monday that it still has not received formal notice from Taiwan authorities, who rejected a proposal to buy AIG’s Nan Shan life insurance unit for $2.2 billion. Taiwan officials announced the rejection at a press conference last week, listing lingering concerns from the 10-month old saga. China Strategic said [...]]]> http://www.news-insurances.com/aig-taiwan-bidder-says-still-no-formal-rejection-notice/0167309564/feed 0 http://www.news-insurances.com/car-insurance-fraud-is-responsible-for-rise-in-premiums/0167308628 http://www.news-insurances.com/car-insurance-fraud-is-responsible-for-rise-in-premiums/0167308628#comments Sun, 05 Sep 2010 18:43:57 +0000 Tom Scott http://www.news-insurances.com/?p=308628 According to the Automobile Association insurance fraud is a major contributor to a 31% increase in car insurance premiums, over the past 12 months. For the motoring association, the typical cost of fully comprehensive cover currently stands at £704 (€844), premiums having risen at their fastest rate in 16 years of records. Furthermore, premiums for [...]]]> http://www.news-insurances.com/car-insurance-fraud-is-responsible-for-rise-in-premiums/0167308628/feed 0 http://www.news-insurances.com/appointment-marsh-ann-collins-new-client-service-director/0167304688 http://www.news-insurances.com/appointment-marsh-ann-collins-new-client-service-director/0167304688#comments Fri, 03 Sep 2010 16:27:11 +0000 George Stobbart http://www.news-insurances.com/?p=304688 Marsh has appointed Ann Collins to the newly created role of Client Service Director of its insurance broking operations on the Isle of Man. Based in Marsh’s Douglas office, Ms Collins assumes responsibility for client development and customer servicing among the firm’s client base, which includes leading businesses from the hospitality and leisure, financial services, [...]]]> http://www.news-insurances.com/appointment-marsh-ann-collins-new-client-service-director/0167304688/feed 0 http://www.news-insurances.com/fsa-ban-insurance-broker-david-marriott-banned-for-persistent-misuse-of-client-money/0167304494 http://www.news-insurances.com/fsa-ban-insurance-broker-david-marriott-banned-for-persistent-misuse-of-client-money/0167304494#comments Fri, 03 Sep 2010 15:20:56 +0000 Sofia Ashmore http://www.news-insurances.com/?p=304494 The Financial Services Authority (FSA) has banned insurance broker David Marriott for persistent misuse of client money after using clients’ funds to support his businesses and finance bonuses, salary increases and new cars. The FSA said it took action against Mr Marriott, former chief executive of two insurance intermediaries Target Underwriting and Professional Insurance Select [...]]]> http://www.news-insurances.com/fsa-ban-insurance-broker-david-marriott-banned-for-persistent-misuse-of-client-money/0167304494/feed 0 http://www.news-insurances.com/reinsurance-aon-benfield-research-results-interesting-for-companies/0167304282 http://www.news-insurances.com/reinsurance-aon-benfield-research-results-interesting-for-companies/0167304282#comments Fri, 03 Sep 2010 14:39:34 +0000 George Stobbart http://www.news-insurances.com/?p=304282 AON published its first edition of the Aon Benfield Research Newsletter which shares the successes of their global research organisations and highlights how academia can work hand in hand with businesses to improve risk awareness and deliver practical results for the reinsurance industry. Highlights include: - Top 5 mega-earthquake hotspots identified - New European windstorm [...]]]> http://www.news-insurances.com/reinsurance-aon-benfield-research-results-interesting-for-companies/0167304282/feed 0 http://www.news-insurances.com/appointment-duncan-szeto-is-presidential-life%e2%80%99s-new-chief-actuary/0167303752 http://www.news-insurances.com/appointment-duncan-szeto-is-presidential-life%e2%80%99s-new-chief-actuary/0167303752#comments Fri, 03 Sep 2010 09:02:39 +0000 Barbara karouski http://www.news-insurances.com/?p=303752 Presidential Life has named Duncan Szeto as the new chief actuary of its operating subsidiary, Presidential Life Insurance Company. Mr Szeto replaces Jerrold Scher. He joined Presidential Life in 2007 as vice president of financial modeling. Prior to joining Presidential Life, Mr Szeto served in various actuarial roles at MetLife, Inviva and Prudential Financial. He [...]]]> http://www.news-insurances.com/appointment-duncan-szeto-is-presidential-life%e2%80%99s-new-chief-actuary/0167303752/feed 0 http://www.news-insurances.com/aviva-new-u-s-headquarters/0167303726 http://www.news-insurances.com/aviva-new-u-s-headquarters/0167303726#comments Fri, 03 Sep 2010 08:35:25 +0000 George Stobbart http://www.news-insurances.com/?p=303726 All 1,300 of Aviva USA’s Des Moines-based employees and contractors are now occupying the company’s new U.S. operations headquarters at 7700 Mills Civic Parkway in West Des Moines. Capping a summer of highly orchestrated moves, Aviva relocated its staff from three leased locations in downtown Des Moines to the new campus. Aviva USA broke ground [...]]]> http://www.news-insurances.com/aviva-new-u-s-headquarters/0167303726/feed 0 http://www.news-insurances.com/axa-incident-at-stoke-gifford-center/0167303606 http://www.news-insurances.com/axa-incident-at-stoke-gifford-center/0167303606#comments Fri, 03 Sep 2010 07:31:19 +0000 Tom Scott http://www.news-insurances.com/?p=303606 The incident occurred at 1.30pm yesterday. An office worker fell to his death in front of staff inside one of Bristol’s biggest office buildings. The man, who is believed to have been in his 50’s, fell three storeys from the top floor at the Axa Centre, in Stoke Gifford, on to the floor of an [...]]]> http://www.news-insurances.com/axa-incident-at-stoke-gifford-center/0167303606/feed 0 http://www.news-insurances.com/axa-police-called-after-fatal-fall/0167301966 http://www.news-insurances.com/axa-police-called-after-fatal-fall/0167301966#comments Thu, 02 Sep 2010 16:40:59 +0000 Tom Scott http://www.news-insurances.com/?p=301966 It is believed that a man, who was an employee at the company, fell from the third floor of the Stoke Gifford offices. Police were called to the headquarters of insurance firm Axa this afternoon after reports of the death of the man. Shocked workers who witnessed the fall were being interviewed by police this [...]]]> http://www.news-insurances.com/axa-police-called-after-fatal-fall/0167301966/feed 0 http://www.news-insurances.com/new-product-xl-insurance-recall-policy-for-the-food-and-beverage-industry/0167301768 http://www.news-insurances.com/new-product-xl-insurance-recall-policy-for-the-food-and-beverage-industry/0167301768#comments Thu, 02 Sep 2010 15:45:50 +0000 George Stobbart http://www.news-insurances.com/?p=301768 XL Insurance (Bermuda) Ltd (“XLIB”) today announced the launch of its new broad-form Product Contamination policy. To coincide with the launch, XLIB will be hosting a seminar on September 8th to address current regulatory and food safety issues in North America as well as to present the new policy. XLIB has been recognised historically for [...]]]> http://www.news-insurances.com/new-product-xl-insurance-recall-policy-for-the-food-and-beverage-industry/0167301768/feed 0 http://www.news-insurances.com/aig-international-hopes-for-favourable-solution-in-taiwan/0167301362 http://www.news-insurances.com/aig-international-hopes-for-favourable-solution-in-taiwan/0167301362#comments Thu, 02 Sep 2010 13:06:36 +0000 Sofia Ashmore http://www.news-insurances.com/?p=301362 One of the purchasers of AIG’s Taiwan Nan Shan Life unit still hoped for a favourable solution to the $2.2 billion sale even after their bid was rejected by Taiwan regulators. Robert Morse, chief executive of Hong Kong investment firm Primus Financial, also said the company would consider moving any parts of the transaction that [...]]]> http://www.news-insurances.com/aig-international-hopes-for-favourable-solution-in-taiwan/0167301362/feed 0