Fac Magazine

Airline renewals up 12% so far in November - Aon

Wed, 19 Nov 2008 10:35:00 GMT

Airline renewal rates are up 12% in November compared to a 10% reduction this time last year, according to Aon. ...

Pricing challenges in D&O market seen pre January renewals - Lockton

Wed, 19 Nov 2008 10:19:00 GMT

(BESTWIRE) Many publicly traded companies that have American International Group in their directors and officers liability program are scrambling to obtain alternative quotes before their programs renew 1 January , an executive risk expert with broker Lockton said. ...

Pricing challenges in D&O market seen pre-1/1 - Lockton

Wed, 19 Nov 2008 10:19:00 GMT

(BESTWIRE) Many publicly traded companies that have American International Group Inc. in their directors and officers liability program are scrambling to obtain alternative quotes before their programs renew Jan. 1, an executive risk expert with broker Lockton said. ...

Zurich launches new adviser tool

Wed, 19 Nov 2008 10:07:00 GMT

Zurich has launched a planning tool aimed at helping advisers address their clients’ business protection needs. ...

Texas approves 12.3% increase for Texas Windstorm Insurance Association

Wed, 19 Nov 2008 09:58:00 GMT

(BESTWIRE) — In an attempt to establish rates that are better suited to cover claims, the Texas insurance commissioner has exceeded a mandated cap on rate increases for the state's insurer of last resort for windstorm coverage. ...

AIG injects 1.1bn into Taiwanese life insurance unit

Wed, 19 Nov 2008 09:54:00 GMT

(BESTWIRE) American International Group has injected NT$45.11 billion (1.1 billion euros) into its Taiwan life insurance unit, Nan Shan Life Insurance Co. Ltd., in a bid to strengthen the subsidiary's capital base.

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Aon executive makes recommendations to US Treasury

Wed, 19 Nov 2008 09:48:00 GMT

Aon's executive vice president and general counsel, D. Cameron Findlay, has testified before the House Committee on Financial Services in Washington, D.C. ...

Amlin's syndicate income falls 11.3%

Wed, 19 Nov 2008 09:36:00 GMT

Amlin has reported a fall of 7.5% in gross written premium (before deduction of brokerage) for the first 10 months of the year to £904.1m compared to the same period last year (2007: £977.2m). ...

Reinsurance rates set to soar, says Amlin

Wed, 19 Nov 2008 09:18:00 GMT

The reinsurance market is poised to see a strong rise in rate levels while added pressure on reinsurers due to less available capital is limiting their appetite for risk, according to Amlin. ...

Economic crisis may lead to growth in captives

Tue, 18 Nov 2008 16:37:00 GMT

Uncertainty caused by the current economic crisis may lead to an increase in captive formations, according to a survey of delegates at the Isle of Man Captive Conference in London last month. ...

Talbot grabs senior XL aviation exec to head up new aviation team

Tue, 18 Nov 2008 16:34:00 GMT

Talbot, the specialty insurance group which is a subsidiary of Validus Holdings, has appointed Peter Bilsby as head of global aerospace. ...

Zurich appoints new global corporate division CEO

Tue, 18 Nov 2008 16:16:00 GMT

Zurich has appointed Mario Vitale as chief executive officer of its global corporate business division. ...

Mapfre given local Brazilian reinsurance license

Tue, 18 Nov 2008 13:49:00 GMT

Mapfre Re has been authorised to establish as local reinsurer in Brazil, through its new subsidiary Mapfre Re Do Brasil Companhia de Reasseguros.

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Willis broker for hijacked supertanker - source

Tue, 18 Nov 2008 13:39:00 GMT

Willis is thought to be one of the brokers for the hijacked Saudi Arabian supertanker, Reinsurance has learned. ...

Aflac CEO Amos forgoes $26m 'golden parachute'

Tue, 18 Nov 2008 10:45:00 GMT

BestWire) — US supplemental insurer Aflac said that chairman and chief executive officer Daniel Amos will give up about $26m in "golden parachute" provisions in his employment contract. ...

Travelers extends directors' & officers' cover

Tue, 18 Nov 2008 10:38:00 GMT

Travelers has expanded its directors' and officers' (D&O) cover by rewording its DirectorXpress policy to include over thirty new coverage enhancements.

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AIG taken to court in Canada, alleging company misled investors

Tue, 18 Nov 2008 09:55:00 GMT

(BESTWIRE) A C$550m ($450m) lawsuit filed in Canadian courts charges that American International Group Inc. and many of its senior officials misled investors about the safety of some of its credit market activities for two years. ...

Southern California wildfires abate - AIR

Tue, 18 Nov 2008 09:48:00 GMT

According to catastrophe risk modeling firm AIR Worldwide, strong winds, with near hurricane-force gusts, fanned three separate fires this weekend in Southern California. More than 40,000 acres (about 62 square miles) have been scorched from Santa Barbara to Anaheim, with around 1,000 residences destroyed. Governor Schwarzenegger has declared a state of emergency in the four affected counties and local officials ordered the evacuation of more than 50,000 residents. ...

Giles buys SBP in biggest deal since Charterhouse backed the business

Tue, 18 Nov 2008 09:09:00 GMT

Giles Insurance Brokers has acquired specialist transport insurance brokers SBP Group ...

Riddell appointed chairman of Zurich global corporate

Tue, 18 Nov 2008 08:47:00 GMT

Geoff Riddell, the current chief executive officer (CEO) of Zurich Global Corporate has been appointed to the new role of chairman of the division. ...

BGL Group teams up with Cunningham Lindsey in two-year deal

Mon, 17 Nov 2008 16:54:00 GMT

BGL Group has appointed Cunningham Lindsey UK to provide new and improved claims administration and selected claims management services for the company’s home insurance customers. ...

Travelers enhances D&O policy

Mon, 17 Nov 2008 16:36:00 GMT

Travelers has re-vamped its DirectorXpress policy wording for private company and non-profit risks. ...

Axa offers environmental liability product in advance of new legislation

Mon, 17 Nov 2008 16:25:00 GMT

Axa has launched a new product providing cover for environmental damage and consequences of environmental impairment. ...

Axa launches environmental product

Mon, 17 Nov 2008 16:09:00 GMT

Axa Corporate Solutions has officially launched environmental solution Ecosphere in the UK. ...

Aston Martin DB9 tops luxury car wish list

Mon, 17 Nov 2008 12:21:00 GMT

The ultimate supercar is the Aston Martin DB9 – with 45% of British luxury car owners voting it top in a new report by Hiscox. ...