Europe Intelligence Wire articles from February 2007

Europe Intelligence Wire archives from February 2007

News - Insurers dealt twin blow by clawback and Ogden.
February 1, 2007... (From Post Magazine) Byline: Olivier C Laurent. Claims costs received a double blow this week after new rules potentially adding hundreds of millions of pounds to the industry's bill were announced. Liability insurers admitted...

News - Insurers forfeit local government millions.
February 1, 2007... (From Post Magazine) Byline: Tanya Powley. Insurers are set to lose millions of pounds worth of contracts following the launch of London Authorities' Mutual, which is set to go live on 1 April. Post has learnt that the mutual has...

News - Aon calls for Pool Re copy.
February 1, 2007... (From Post Magazine) Byline: Ed Vinales. Broking giant Aon is calling for the industry to consider setting up an environmental equivalent of Pool Re. The case for establishing a reinsurer has been enforced by the implementation of...

News - ABI looks to employer tracing code fillip.
February 1, 2007... (From Post Magazine) The Association of British Insurers is confident changes to its code for tracing old employers' liability policies will help improve its success rate, after the code's worst year since inception. Lisa Marie...

News - UK brokers singled out in EC transparency row.
February 1, 2007... (From Post Magazine) Byline: Ralph Savage. Broker transparency has come under the spotlight again as lawyers claimed policyholders would be quizzed as part of Brussels' ongoing competition enquiry. The publication of the European...

News - Esure to refer 10% to BDML.
February 1, 2007... (From Post Magazine) BDML will continue to profit from the First Alternative and Esure merger next year, with 10% of the insurer's policies referred to its business. Following reports broker Allen and Allen had been close to winning...

News - Police trials by jury waste time and money.
February 1, 2007... (From Post Magazine) The use of juries at trial to decide civil claims against the police should be banned, a leading barrister has declared. According to William Waldron, QC of Exchange Chambers, the government must remove trial by...

News - Margrett to chair Willis.
February 1, 2007... (From Post Magazine) The former group chief executive of Heath Lambert will next month replace Richard Bucknall as the chairman and chief executive officer of Willis UK. David Margrett, who joined the company in a business development...

News - Colossus five-year licence.
February 1, 2007... (From Post Magazine) Groupama Insurances has signed a five-year licence for Colossus, the personal injury claims solution from CSC. Colossus allows for personal injury claims assessment through the use of software, which is based on...

News - Liv Vic bags Britannia in bid for rescue supremacy.
February 1, 2007... (From Post Magazine) Byline: Ralph Savage. Liverpool Victoria has added 300,000 customers to its roster following the GBP36m acquisition of Britannia Rescue on Tuesday. The insurer, which has already stated its aim to become a top...

News - Commercial risks database next possible move for IFB.
February 1, 2007... (From Post Magazine) The Insurance Fraud Bureau could look to build a database on commercial risks as its next logical step, Post can reveal. John Beadle, chairman of the IFB steering group, told Post that commercial risks as well as...

News - Footman stays independent.
February 1, 2007... (From Post Magazine) Footman James is expected to stay independent after its acquisition by Aon. Paul Matthews, managing director of Footman James, said: "Footman James will stay Footman James. The existing management team will remain...

News - UK in court threat over ELD.
February 1, 2007... (From Post Magazine) The UK government will face legal action from the European Commission over its failure to implement the Environmental Liability Directive by 30 April. The government has also been accused of downplaying the...

News - Biba BCM campaign boost.
February 1, 2007... (From Post Magazine) The British Insurance Brokers' Association's business continuity campaign was welcomed in the House of Commons this week. Mike Penning, MP for Hemel Hempstead, urged all small and medium-sized enterprises across the UK...

News - MID changes warning.
February 1, 2007... (From Post Magazine) Allianz Cornhill has urged brokers to prepare for changes to the Motor Insurance Database next year. The current 14-day requirement to submit 95% of client records to the MID is set to decrease to seven days on 1...

News - Heritage in income boom.
February 1, 2007... (From Post Magazine) Heritage Underwriting Agency's net premium income increased by GBP62.1m to GBP262.6m in 2006. The increase was attributed to large premium increases in catastrophe business, a benign claims environment and a...

News - Bank of America commits to Lloyd's.
February 1, 2007... (From Post Magazine) Byline: Tanya Powley. US giant Bank of America has signalled its commitment to the Lloyd's market with the launch of its first Lloyd's syndicate today. Pembrace Casualty Insurance 2112 has been given an...

News - Reinsurers to feel brunt of payment case.
February 1, 2007... (From Post Magazine) Judgment in the Thompstone v Tameside and Glossop case could have the greatest impact on reinsurers, according to a leading firm of actuaries. Lane Clark and Peacock has warned that: "If this judgment is upheld,...

News - Agrical in BCH investment.
February 1, 2007... (From Post Magazine) Start up specialist insurance valuation company BCH has been given access to several major insurers following an investment agreement with Agrical subsidiary Authentica. From today, BCH, which was set up last month...

Leader - Will EL rates rocket?
February 1, 2007... (From Post Magazine) Byline: Jonathan Swift. The news that liability insurers face the double whammy of increased claims costs from NHS clawback charges and the imposition of new multipliers from the revised Ogden Tables coming up in...

News - Arista snaps up ready-made RSA team.
February 1, 2007... (From Post Magazine) Start-up commercial underwriting agency Arista has snapped up a team of six former Royal and Sun Alliance employees to manage its latest office, which began trading last week. The opening of Arista's Redhill office...

News - Axa hands over broker training to Biba and CII.
February 1, 2007... (From Post Magazine) Byline: Olivier C Laurent. Axa has dropped its online broker training facility in favour of a partnership with two industry associations to launch an online broker academy. The British Insurance Brokers'...

News - B2Bi takes on retail run-off.
February 1, 2007... (From Post Magazine) Broker 2 Broker Insurance Services has taken over the run-off of Croydon-based broker Parker Barnard Havers' retail package scheme. The internet portal, which was launched by Leeds-based broker SME Insurance...

News - Brokers missing long stay premium cash opportunity.
February 1, 2007... (From Post Magazine) Travel insurance brokers are losing out on a big slice of premium income by failing to understand the niche needs of long-stay travel cover, according to a leading practitioner. Brian Boosey, managing director at...

News - FSA fines GE Capital Bank.
February 1, 2007... (From Post Magazine) The Financial Services Authority has fined GE Capital Bank GBP610,000 for failing to have adequate systems and controls for selling insurance, which includes payment protection insurance, and for failing to treat the...

News - Kennedys re-elects partner.
February 1, 2007... (From Post Magazine) Nick Thomas, senior partner at City law firm Kennedys, has been re-elected for a third term. "I am honoured that the partners have once again voted for me to continue as senior partner," he said. Mr Thomas has held the...

Broker News - FSA backs 'market solution' moves on contract certainty.
February 1, 2007... (From Post Magazine) Byline: Jonathan Swift. The Financial Services Authority has heralded the insurance industry's effort to achieve contract certainty as evidence market-based solutions - rather than further regulation - can be...

Broker News - Brokers doomed, says report.
February 1, 2007... (From Post Magazine) Sales growth in the UK broking market is being totally dominated by the top companies, according to a new report. "A staggering 94% of last year's sales growth in the UK insurance broking industry went to just 115...

Broker News - Allianz eyes broker trade.
February 1, 2007... (From Post Magazine) Allianz Cornhill is to make a renewed push to attract more business from national brokers. The insurer has appointed Judy Holt, formerly key account manager for the North, to replace Mark Hadfield, who left the...

Claims News - Injury body ends doubt with 75% saving result.
February 1, 2007... (From Post Magazine) Byline: Ralph Savage. The Irish government's compensation body has continued to champion its success, citing independent research that has revealed its superior performance over using claimant lawyers. An...

Claims News - Crawford relishes global claims challenge.
February 1, 2007... (From Post Magazine) Crawford and Company is set to launch a global claims bureau in the UK to strengthen its Lloyd's and London market operations. It was due to open for business today as part of the company's strategy to develop and...

Claims News - The claimant's view.
February 1, 2007... (From Post Magazine) Byline: Tom Jones, partner, Thompsons Solicitors. Richard Harvey, the Aviva chief executive who is taking a "gap year" to work on development projects in Africa, is to be congratulated for his compassionate and...

Claims News - KPMG snaps up Hicks.
February 1, 2007... (From Post Magazine) KPMG Forensic has appointed David Hicks as its new head of forensic insurance. Mr Hicks joins from Deloitte, where he was a senior member of its insurance practice. He was at Deloitte for four years, prior to which he...

Claims News - GAB Robins promotion.
February 1, 2007... (From Post Magazine) GAB Robins has promoted George Bentley to the role of client services director for its UK operations. Mr Bentley, formerly UK account director, heads a team of 12 dedicated account management and business development...

League tables: home insurance - The customer is always right.
February 1, 2007... (From Post Magazine) The customer experience is the new differentiator in today's crowded and standardised marketplace, and being able to gain insights into customers' experience of a business or service provides companies with that extra...

Interview: Guy Munnoch - Raised the Zurich way.
February 1, 2007... (From Post Magazine) The insurance career of Zurich UK general insurance chief executive Guy Munnoch has snowballed since he joined the industry in 1992. He also has an insurance career because of a snowball - Patrick Snowball to be...

Postbox - DWI-busting is a full-time job.
February 1, 2007... (From Post Magazine) I Just wanted to say that I thought Julian Beardsworth's article on his day out with the police, organised by the Motor Insurers' Bureau to catch uninsured drivers was excellent (Silently, they watch us, Post, 18...

Postbox - PPI exposed to public eye.
February 1, 2007... (From Post Magazine) There's nothing quite like prime time TV exposure to focus the mind, and I expect the recent Tonight With Trevor McDonald to have massive implications for the sale of payment protection insurance. The major banks...

View from the Top - Are you being served?
February 1, 2007... (From Post Magazine) Byline: Franaois-Xavier Boisseau, managing director, Groupama Insurances. Any broker who provides incompetent, tardy service can expect a swift and rapid exodus of clients. So why is it that brokers, when in the...

Brokers' professional indemnity - Trouble ahead.
February 1, 2007... (From Post Magazine) Last October, Lloyd's professional indemnity broker PYV warned intermediaries they could be woefully under-insured if they only purchased the Financial Services Authority's recommended minimum limits. It therefore...

US Securities Class Actions - Them and US.
February 1, 2007... (From Post Magazine) Foreign shareholders are becoming more of a permanent fixture in US securities class actions and, while not a new development, foreign-based companies are increasingly seen as a major target for the US plaintiff's bar....

UK Class Actions - The eagle has landed.
February 1, 2007... (From Post Magazine) Class action litigation is being brought to the forefront of UK insurers' minds after leading US class action litigation firm Cohen Milstein Hausfeld and Toll opened its first London office last month. However, this...

Payment Protection - Bursting the balloon.
February 1, 2007... (From Post Magazine) In 2006 the payment protection insurance industry received unrelenting bad press, along with criticism from the regulator for its poor sales tactics and high prices despite comparatively low claims ratios. And with an...

Regional Review: South-west - A breath of fresh air.
February 1, 2007... (From Post Magazine) The West Country has seen some notable activity from brokers recently, with several firms choosing to increase their presence in the area, largely through acquisition. There is certainly a lot of potential for new...

Broker Duty - Time to do your duty.
February 1, 2007... (From Post Magazine) It has long been established in English law that, prior to the placing of an insurance policy, a broker has a duty to ascertain his client's needs, use reasonable skill and care to obtain the cover requested and, if...

Professional Negligence - Watch your step.
February 1, 2007... (From Post Magazine) Solicitors in insurance litigation are required to understand the scope and nature of the tri-partite relationship that emerges in acting for both the insurer and the insured. This applies not only at the outset of...

Pension Schemes - Bridging the gap.
February 1, 2007... (From Post Magazine) Back in the 1960s and 1970s, things were almost idyllic - the cult of the equity ruled, real interest rates, while fluctuating, were relatively high and the pension regime in most companies had a well-settled routine....

Law Reports - Non-complying claim is not a bar to fresh action.
February 1, 2007... (From Post Magazine) The claimant's husband was killed in a motor accident following a collision with the uninsured defendant driver. The claimant brought a claim for damages on behalf of the estate, and herself (as a widow) and of her two...

Law Reports - CPS must demonstrate race is a not a factor.
February 1, 2007... (From Post Magazine) Christopher Alder died whilst in police custody. An inquest produced a verdict of unlawful killing, though the subsequent prosecution brought by the Crown Prosecution Service ("CPS") against a number of police officers...

Law Reports - NHS Trust: first duty is to employees.
February 1, 2007... (From Post Magazine) An NHS Trust was held liable for injuries inflicted on nursing staff by a patient at a high security hospital. Nottinghamshire Healthcare NHS Trust ("the Trust") had failed to implement a policy recommended by the...

Law Reports - Commentary - HAVS cases shed further light on limitation issue.
February 1, 2007... (From Post Magazine) In Norton v Corus UK Ltd (13 November 2006), the claimant was aware of his symptoms in 1992. He ceased working in 1998 but did not seek legal advice until a relative successfully pursued a claim in 2003. Proceedings...

Career Path - Axa warns over GBP60m retirement claims threat.
February 1, 2007... (From Post Magazine) Byline: Tanya Powley. UK employers could be sued up to GBP60m in backdated discrimination claims for forcing people to retire at 65, according to Axa. Although employers who do so are acting within the law as...

Career Path - Majority of brokers ill-prepared for new equality rules.
February 1, 2007... (From Post Magazine) Over three quarters of brokers are not fully prepared for the new employment equality regulations, according to Peninsula BusinessWise. In addition, 65% of the 873 brokers surveyed said that they have had...

Career Path - Biba launches skills course.
February 1, 2007... (From Post Magazine) The British Insurance Brokers' Association has partnered training provider Searchlight solutions to launch a CD course in essential management skills for insurance staff. The CD is designed for inexperienced...

Career Path - Ask the expert.
February 1, 2007... (From Post Magazine) Working in the insurance sector can mean long hours, and job hunting is a time-consuming activity - not a great combination. The few hours before or after work are precious so it is important to maximise your chances...

People - Appointment at Assurant Solutions.
February 1, 2007... (From Post Magazine) Assurant Solutions has appointed Patricia Jamal and Nick Jones to sit on its audit and risk committee. Ms Jamal retired from Barclays in 2001 from her role as managing director, head of global financial institutions....

People - Appointment at AUM Group.
February 1, 2007... (From Post Magazine) AUM Group has appointed Andrew Colbran as managing director in the UK. Mr Colbran joins the company from CNA Europe, the London-based insurer of specialised risks, where he was the European financial lines manager...

People - Appointment at CNA.
February 1, 2007... (From Post Magazine) CNA has appointed Chris Hurford-Green as senior development underwriter, personal accident and travel, while Michael Shen joins as development underwriter, financial lines. Both will be responsible for the southern...

People - Appointment at TT Club.
February 1, 2007... (From Post Magazine) The TT Club has appointed Laurence Jones as manager of risk assessment. Based in Sydney, Australia, Mr Jones will manage third-party risk assessment surveys. Mr Jones is a qualified engineer with extensive engineering...

People - Appointment at Aon.
February 1, 2007... (From Post Magazine) Aon has appointed Shaun Cooper as network risk consultant. Mr Cooper previously worked in underwriting roles for Ace and AIG, while also building his consultancy expertise in the utility, automotive, financial,...

People - Appointment at Marsh.
February 1, 2007... (From Post Magazine) David Bagnall has joined the global broker as sales and business development leader in the London office of its financial and professional services practice. Mr Bagnall comes to the position from Freshfields Bruckhaus...

People - Appointment at Barlow Lyde and Gilbert.
February 1, 2007... (From Post Magazine) Neil McGilchrist is joining Barlow Lyde and Gilbert's aerospace team from Gide Loyrette Nouel, followed by associates Anna Anatolitou and Maria Galan. Mr McGilchrist is well-known internationally for his expertise in...

People - Appointment at Chadbourne and Parke.
February 1, 2007... (From Post Magazine) Chadbourne and Parke has appointed Ellen MacDonald-Farrell, James Scarrow and Tat Man So as counsel in the firm's Washington DC and New York offices. Rubin Weston has been appointed partner in the London office. Ms...

People - Appointment at Crawford and Company.
February 1, 2007... (From Post Magazine) Crawford and Company has announced the appointment of Jane Eastham as a new member of the agricultural, rural industries and estates losses team for the South-west of England. Ms Eastham joins from ABNA Agricultural,...

Postscript - What the papers said this week.
February 1, 2007... (From Post Magazine) Financial Times HSBC plans to double the proportion of profits it makes from insurance by 2012. The bank has decided it is under-represented in this area. HSBC has told shareholders and financial analysts that it...

Postscript - 50 Years Ago.
February 1, 2007... (From Post Magazine) Pedestrian runs into car At Hitchin County Court recently a motorist was awarded GBP26 10s 1d damages and costs against a pedestrian who was said to have run into his car. The motorist, William Brown, of Conquest...

Postscript - Pennyblack's insurance week.
February 1, 2007... (From Post Magazine) Everyone knows what a hard working girl Penny is, but she knows where to draw the line and refuses to stay in the office any later than when Huw Edwards begins twitching his top lip for the Ten O'clock News. Then...

Fairmont's Ho calls for ISO role in green ships.
February 1, 2007... (From Lloyds List) A LEADING shipowner argues today for a new form of environmental regulation administered outside of the class society system, writes Neville Smith. President of Fairmont Shipping, Robert Ho said that the industry...

Brazil goes for growth as suezmax contract is signed by Lula.
February 1, 2007... (From Lloyds List) Byline: Rainbow Nelson BRAZILIAN President Luiz Inacio Lula da Silva yesterday opened a R$504bn ($236.5bn) public-private spending programme designed to accelerate growth in the world's ninth largest economy at the...

Royal Navy divers to aid Nordkapp damage probe.
February 1, 2007... (From Lloyds List) Byline: Sandra Speares ROYAL Navy divers from ice patrol vessel HMS Endurance are due to inspect the hull of cruise ship Nordkapp, which briefly ran aground near Deception Island in Antarctica on Tuesday. They...

Box volumes drive Antwerp growth in cargo traffic.
February 1, 2007... (From Lloyds List) Byline: New Deurganck dock handles 810,000 teu, writes Helen Hill in Amsterdam THE port of Antwerp has seen container volumes grow at twice the rate of its cargo overall, with the hub handling 7m teu last year. ...

No need for formal refuge list Barrot.
February 1, 2007... (From Lloyds List) Byline: Justin Stares in Brussels A formal list of places of refuge for ships in distress is not required under present legislation, says the European Commission. And the need for such a list, a much debated...

France claims big advance in inspections.
February 1, 2007... (From Lloyds List) Byline: Nation 'already meets Erika III rules', writes Andrew Spurrier FRANCE has dramatically improved its port state inspection regime and is already meeting the requirements of the European Union's yet to be...

Autoprogess under tow after fire in engine room.
February 1, 2007... (From Lloyds List) The UECC car carrier Autoprogress had to be taken under tow by the French deepsea rescue tug Abeille Bourbon yesterday afternoon after losing propulsion following an engine room fire on Tuesday night 70 km off the tip of...

Dry Bulk Fixtures.
February 1, 2007... (From Lloyds List) ORE Dampier to Qingdao vessel to be nominated, 150000t, $14.60 per tonne, fio scale'25000sc, 13-23 Feb. (Charterer not reported) Port Hedland to Qingdao Brilliant Arc, 150000t, $15.00 per tonne, fio...

Energy Briefing.
February 1, 2007... (From Lloyds List) Marathon spending MARATHON has increased its capital spending programme by 32% to $4.2bn this year to drill more exploration wells, develop new offshore fields and expand its Garyville refinery in Louisiana. The...

British Mallard electrician death.
February 1, 2007... (From Lloyds List) AN ELECTRICIAN has been crushed to death while working on a lift on a BP Shipping-operated vessel in Australia, writes David Osler. The 36-year-old Indian national was a member of the crew of the Isle of Man-flagged...

Masters issue leniency plea as Schroder manslaughter sentence nears.
February 1, 2007... (From Lloyds List) A PLEA for leniency for Wolfgang Schroder, former master of the Zim Mexico III, awaiting sentence in Mobile after his conviction for manslaughter, has been made by the Honourable Company of Master Mariners, writes...

Morris to lead Far East team for Miller.
February 1, 2007... (From Lloyds List) JOHN Morris, a senior figure at the Thomas Miller group which manages a substantial portfolio of transport mutuals, is to take a leading role in an area he has long nurtured, the Far East, writes James Brewer. In a...

Why it is high time to reinvent underwriting's wobbly wheel.
February 1, 2007... (From Lloyds List) Byline: Jonathan Jones calls for a radical change to a more hands on approach to the sector which actively supports the shipping industry AS IS well known, to understand the future we must to a certain degree...

DNVPS BUNKER QUALITY REPORT.
February 1, 2007... (From Lloyds List) BUNKER QUALITY REPORT U'F = unfilterable This Bunker Quality Report is based on samples analysed by DNV Petroleum Services and is an abstract from their more detailed fuel quality statistics publication which...

Hansen Weekly Bunker Report.
February 1, 2007... (From Lloyds List) BUNKER MARKET REPORT Jan 30, 2007 Compiled for Lloyd's List by Egil Bjorn-Hansen, Oslo CONTINENT: Stable. AFRICA'MIDDLE EAST: Soft. FAR EAST : Singapore market congested, most suppliers fully...

PD Ports ushers in new era of growth.
February 1, 2007... (From Lloyds List) Byline: Fifth change of ownership in under two decades augurs well for long-term outlook at one of the busiest ports in the UK, writes Felicity Landon PD PORTS, which operates Tees and Hartlepool, the second busiest...

Excelerate Energy pushes ahead with new LNG import facility.
February 1, 2007... (From Lloyds List) THE rapidity with which Excelerate Energy's Teesside LNG import facility has moved from initial discussions through the planning process and into reality in the space in less than a year is nothing short of stunning. ...