- Equity redstar may still struggle to attract buyers, IAG put
up parts of its business for sale, Barnett & Barnett and NBJ who could
attract interest from consolidators. Equity red stars down fall was multiple
claims underwriting losses by bodily injury claims.
- Complaints to the FOS Financial Ombudsman Services over
vehicle insurance has gone up by 26%. The FOS put the blame on insurance
companies not choosing to offer clients early settlement.
- Solvency II compliance is unlikely to be met within deadlines
accordingly to over 50%
- QBE still making loss in its largest division despite positive
results in other areas of the company.
- Professional Insurance Agents Ltd senior director Ellie
Hearsey and Kelly Fyfe meet with international brokers in London this week to
start talks about supplying their online Quote & Buy system in Brazil and
Portugal.
Friday, 25 May 2012
Wednesday, 23 May 2012
Professional Insurance Agents Limited
Professional Insurance Agents Ltd launches its online Quote & Buy software in Italy via a partnership with Golinucci srl a leading Commercial Insurance Broker.
The system was developed in the UK for mainly financial lines products such as Professional Indemnity Insurance and Directors and Officers Insurance.
Graham Hearsey CEO of PIA said that we delighted to have been working with our Italian Partners in this very exciting development, and hopefully more products will come onto the system in Italy shortly.
We are also looking for London Market suppliers to offer terms via our system in Italy.
The system was developed in the UK for mainly financial lines products such as Professional Indemnity Insurance and Directors and Officers Insurance.
Graham Hearsey CEO of PIA said that we delighted to have been working with our Italian Partners in this very exciting development, and hopefully more products will come onto the system in Italy shortly.
We are also looking for London Market suppliers to offer terms via our system in Italy.
Wednesday, 16 May 2012
Rebekah Brooks Charged
Both Brooks and her husband have been charged with perverting
the course of justice based on the phone hacking inquiry, other staff at the
closed news of world and news international security have also been
charged.
There are also 40 other people who still remain on police bail. Mrs Brooks will appear before Westminster magistrates Court on the 13th June charged with offences ranging from hiding documents and computers fro the police.
As this is now a criminal investigation it may well be that a Directors & Officers Insurance policy will be called upon should it exist and if it extended to cover criminal prosecution.
Financial Lines brokers, Professional Insurance Agents Ltd spokes person said "the brokers and insurance company that will be looking after any claims on this case will need deep pockets for both legal costs and any damages awarded assuming a Directors & Officers Insurance policy existed!
There are also 40 other people who still remain on police bail. Mrs Brooks will appear before Westminster magistrates Court on the 13th June charged with offences ranging from hiding documents and computers fro the police.
As this is now a criminal investigation it may well be that a Directors & Officers Insurance policy will be called upon should it exist and if it extended to cover criminal prosecution.
Financial Lines brokers, Professional Insurance Agents Ltd spokes person said "the brokers and insurance company that will be looking after any claims on this case will need deep pockets for both legal costs and any damages awarded assuming a Directors & Officers Insurance policy existed!
Tuesday, 15 May 2012
Rebekah Brook & Her Husband May Face Charges
Rebekah Brooks and her husband may face charges today
of perverting the course of justice. The results of whether they will be made
public, there are others who may also face these charges over the phone hacking
scandal.
Mrs Brooks recently appeared before the Leveson inquiry into the media ethics.
If criminal or civil charges are brought this may bring into play any Directors & Officers Insurance policies that the papers Mrs brooks worked for at the time held, and if the insurance company had been notified. The policy could help pay for any defence and or damages awarded.
Mrs Brooks recently appeared before the Leveson inquiry into the media ethics.
If criminal or civil charges are brought this may bring into play any Directors & Officers Insurance policies that the papers Mrs brooks worked for at the time held, and if the insurance company had been notified. The policy could help pay for any defence and or damages awarded.
France to Swear in President
Francois Hollande is to be taking up his positions France's new President and will be sworn in before visiting Berlin to discuss the Eurozone crisis.
Hollande is unlikely to have many days of grace as the problems in the Eurozone mount on a daily basis. Although the new president of France he's asked his people to be calm and show unity.
France's own economic problem are in themselves very difficult with almost no growth and high in employment.
Friday, 11 May 2012
Rebekah Brooks to Appear Before Leveson Inquiry Today
The x CEO of news international Rebekah Brooks is to give evidence today at
the Leveson inquiry.
Mrs Brooks was arrested about the phone hacking allegations and on conspiracy to pervert the course of justice.
The question will almost certainly ask Mrs Brooks to explain her close relationship with prime minister David Cameron and his peers. This may focus about the apparent texts from Cameron offering his sympathy is to her having to resign.
Further revealing of information about Mrs Brooks involvement must not prejudice the police investigation or any future trials.
Whether this then leads to more claims against Directors and Officers Insurance remains to be seen. Karler Mears MD of Professional Insurance Agents Ltd a specialist broker in the field of Financial Lines Insurances, states that "it, maybe that if these type of policies are in force they may well be called upon to defend allegations against directors and senior staff.
Mrs Brooks was arrested about the phone hacking allegations and on conspiracy to pervert the course of justice.
The question will almost certainly ask Mrs Brooks to explain her close relationship with prime minister David Cameron and his peers. This may focus about the apparent texts from Cameron offering his sympathy is to her having to resign.
Further revealing of information about Mrs Brooks involvement must not prejudice the police investigation or any future trials.
Whether this then leads to more claims against Directors and Officers Insurance remains to be seen. Karler Mears MD of Professional Insurance Agents Ltd a specialist broker in the field of Financial Lines Insurances, states that "it, maybe that if these type of policies are in force they may well be called upon to defend allegations against directors and senior staff.
JP Morgan Announce Trading Losses On Investments
Bank again in the spot light as JP Morgan chase declares around £1.2bn losses
on a series of Complex investments.
Share fell to 6% after this information became public.
After USA banks ciligroup, Bank of America, and Goldman Sacks, also suffered heavy losses.
Is this a case of here we go again the Volcker rule, that was brought into try and stop certain types of trading, would not have stopped JP Morgan's losses according to Mr Dimon their CEO.
Share fell to 6% after this information became public.
After USA banks ciligroup, Bank of America, and Goldman Sacks, also suffered heavy losses.
Is this a case of here we go again the Volcker rule, that was brought into try and stop certain types of trading, would not have stopped JP Morgan's losses according to Mr Dimon their CEO.
Thursday, 10 May 2012
The Queens Speech
The Queen yesterday included plans to re-build
Britain.
Including things such as the break up on banks, flexible parental leave and exampling the UK from the euro bailouts with the lords reform taking a back seat while the government focus on cutting the deficient and getting badly needed growth become the top priority.
Missing our of the speech were things like unemployment of our young people. Ed Miliband comment were that millions of people who don't thing the government is on their side leaving "no change and no hope".
Including things such as the break up on banks, flexible parental leave and exampling the UK from the euro bailouts with the lords reform taking a back seat while the government focus on cutting the deficient and getting badly needed growth become the top priority.
Missing our of the speech were things like unemployment of our young people. Ed Miliband comment were that millions of people who don't thing the government is on their side leaving "no change and no hope".
Wednesday, 9 May 2012
The Queens Speech
The government may well announce via the Queen's speech that it will push ahead with the house of lords reform.
The plans backed by the Lib Dems to create elected peers, could a topic other areas that maybe mentioned is the breaking of banks and rules on executive pay.
The prime minister David Cameron said the Lords reform was "a perfectly sensible reform for parliament to consider".
The plans backed by the Lib Dems to create elected peers, could a topic other areas that maybe mentioned is the breaking of banks and rules on executive pay.
The prime minister David Cameron said the Lords reform was "a perfectly sensible reform for parliament to consider".
Retails Sales Down
The wet weather has been blamed for the poor retail sales in April, which fell by 3.3% with footwear being hit the hardest.
The rain fall in April past previous records set in 2000 and recorded 120.3mm and temperatures were the lowest in 23 years.
The rain fall in April past previous records set in 2000 and recorded 120.3mm and temperatures were the lowest in 23 years.
Tuesday, 8 May 2012
Eurozone Back on Defense
It looks like the markets and investors continue to be
concerned about the French and Greek election results with Nicolas Sarkozy voted
out and Francois Hollande now the new president- elect, know by his supporters
as "Mr Normal".
Unlike Sarkozy who lived the champagne life style, Hollande who is known to like diet coke rather than fine wines.
The here though is how will he be seen on the world stage? Will it be good for trade and business around the world..
Unlike Sarkozy who lived the champagne life style, Hollande who is known to like diet coke rather than fine wines.
The here though is how will he be seen on the world stage? Will it be good for trade and business around the world..
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