Business Insurance

Login  |  Register Subscribe

United Kingdom Subscribe to RSS feed for 'United Kingdom'

RBS mortgage fine deals blow to boss McEwan

Published August 27, 2014 - 10:09am CST

(Reuters) — Britain's financial regulator has fined Royal Bank of Scotland for selling mortgages without checking if customers could afford them, undermining Chief Executive Ross McEwan's efforts to repair the bank's image.

OFF BEAT: Adjuster who drove her way out of a job winds up with settlement

Published August 20, 2014 - 10:19am CST

Even when a loss assessor contributes to losses for the insurer she works for it’s apparently not sufficient grounds in Ireland to fire her.

Integro acquires specialist London broker

Published August 08, 2014 - 10:21am CST

Integro Ltd. has acquired London-based Stonehouse Conseillers Ltd., a specialist insurance broker serviing the needs of commercial film production companies and international advertising agencies.

CNA reshuffles Canadian, European insurance leadership

By: Kate Shepherd

Published August 07, 2014 - 11:58am CST

CNA Financial Corp. has named John Hennessy president and chief operating officer of CNA Canada and David Brosnan as chief executive of CNA Insurance Co. Ltd. (CNA Europe).

Aon reports marine market risk overcapacity, soft market pricing

By: Judy Greenwald

Published August 06, 2014 - 4:01pm CST

Continued overcapacity for most marine risks is causing soft market pricing and increased attention to new product development and differentiation, says Aon Risk Solutions in a report on the marine market issued Wednesday.

Legal & General gets profit boost from company pension deals

Published August 06, 2014 - 9:44am CST

(Reuters) — British life insurance and pensions group Legal & General Group P.L.C. posted better-than-expected profit in the first half of the year, boosted by sales of high-margin pension services to companies.

Lockton expands global energy leadership with three specialty hires

By: Judy Greenwald

Published August 05, 2014 - 2:56pm CST

Lockton Cos. L.L.P. is bolstering its London-based energy group with hires from the RKH Group Ltd., Aon P.L.C. and Marsh L.L.C., the brokerage said Tuesday.

U.K. insurance buyers laud changes in Marine Insurance Act 1906

By: Sarah Veysey

Published August 03, 2014 - 6:00am CST

Proposed changes to the United Kingdom's century-old insurance contract law will prompt underwriters to review their business practices and policy wordings and should eliminate claims denials due to inadvertent buyer errors.

U.S. judge orders Microsoft to submit customer's emails from abroad

Published August 01, 2014 - 11:09am CST

(Reuters) — Microsoft Corp. must turn over a customer's emails stored in a data center in Ireland to the U.S. government, a U.S. judge ruled on Thursday in a case that has drawn concern from privacy groups and major technology companies.

Irish gambling site reveals data breach

By: Judy Greenwald

Published July 31, 2014 - 3:00pm CST

An online Irish gambling website said Thursday that data on 649,055 of its customers was hacked in 2010, although no financial information or customer passwords were accessed in the hacking incident.

Crawford acquires U.K.-based construction and engineering adjuster

By: Kate Shepherd

Published July 30, 2014 - 1:18pm CST

Crawford & Co. has finalized the purchase of Manchester, England-based construction and engineering adjuster Buckley Scott Associates Ltd.

XL reports $279.3M 2nd-quarter loss after selling life reinsurance business

By: Mark A. Hofmann

Published July 29, 2014 - 9:42am CST

XL Group P.L.C. reported a net loss of $279.3 million for the second quarter of 2014, reflecting a large after-tax loss on the sale of its life reinsurance operation, the Dublin-based insurer said.

Jardine Lloyd Thompson posts second-quarter revenue of $957M

By: Sarah Veysey

Published July 29, 2014 - 9:04am CST

Jardine Lloyd Thompson Group P.L.C. on Tuesday reported revenue of 559.6 million ($957.3 million) for the first six months of 2014, up 14.9% from the comparable period last year.

Lloyds Bank fined $370M for rigging Libor interest rates

Published July 28, 2014 - 10:51am CST

(Reuters) — Britain's Lloyds Banking Group P.L.C. has agreed to pay fines totaling $370 million to U.S. and British authorities investigating its part in a global interest rate rigging scandal and manipulating fees for a U.K. government lending plan.

Ascent Underwriting increases limits on medical billings liability coverage

By: Kate Shepherd

Published July 23, 2014 - 1:15pm CST

Specialist managing general agent Ascent Underwriting L.L.P. on Wednesday said it has increased the limits on its CyberPro medical billings errors and omissions product up to $5 million.

Cooper Gay launches underwriting management agency for health care industry

By: Kate Shepherd

Published July 22, 2014 - 2:24pm CST

Cooper Gay Swett & Crawford Ltd. has launched Pro-Praxis Insurance, an underwriting management agency specializing in the health care industry.

Beazley reports $132.9M profit in 2014 first half

By: Sarah Veysey

Published July 22, 2014 - 11:52am CST

Beazley P.L.C. reported pretax profit of $132.9 million for the first six months of 2014, up 61.5% posted for the comparable period last year, the Dublin-based insurer and reinsurer said Tuesday.

Britain's fraud office launches criminal probe into foreign exchange rigging

Published July 21, 2014 - 11:31am CST

(Reuters) — Britain’s anti-fraud agency said on Monday it has launched a criminal investigation into alleged rigging of the $5.3 trillion-a-day currency market.

BNP case spurs calls for whistleblower incentives in banking

Published July 21, 2014 - 11:17am CST

(Reuters) — BNP Paribas S.A.'s $9 billion settlement with U.S. authorities, aided by internal whistleblowers, has spurred calls for federal banking regulators to protect and reward individuals who report wrongdoing by banks.

China to hold public trial of foreign couple who worked for GSK

Published July 17, 2014 - 3:00pm CST

(Reuters) — China will try in public a foreign couple linked to drugmaker GlaxoSmithKline Plc. on charges of illegally obtaining private information, state media said, after the United States and Britain raised concerns about access to the trial.

BMW to recall 1.6 million cars worldwide for air bag concerns

Published July 16, 2014 - 11:34am CST

(Reuters) — German automaker BMW Group said it is recalling about 1.6 million cars worldwide to replace passenger-side front airbags made by Takata Corp. because the inflators could break apart during deployment.

'Smart' technology could make utilities more vulnerable to hackers

Published July 15, 2014 - 10:56am CST

(Reuters) — Last November, Felix Lindner came very close to shutting down the power supply of Ettlingen, a town of almost 40,000 people in the south of Germany.

Foster Farms battles insurers over definition of 'recall'

Published July 09, 2014 - 9:37am CST

(Reuters) — Foster Farms and its London insurers are facing off over the definition of “product recall” as the poultry producer seeks payment of $14.2 million in claims arising from a government-mandated shutdown of one of its plants, court documents show.

Natural catastrophes up insured losses to $17B in 2014 first half: Munich Re

By: Sarah Veysey

Published July 09, 2014 - 8:37am CST

Insured losses caused by natural catastrophes in the first half of 2014 totaled about $17 billion, up from about $11 billion for the comparable period last year but below the 10-year average of $25 billion.

Insurance broker Willis names global placement leader

By: Kate Shepherd

Published July 08, 2014 - 2:15pm CST

Willis Group Holdings P.L.C. on Tuesday said it has appointed David Martin as global leader of placement, and that Steve Hearn will assume Mr. Martin’s previous role as CEO of Willis Insurance U.K.

More »