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June 2001/1

  • Flashpoint $1 million fraud victim
  • User-pays was heavily criticised. Lloyd’s insists that the process has been reformed but Laptop argues there is still much to be done In December 1997 Lloyd's announced the introduction of “User Pays”. One of the aims was to remove “the subsidisation
  • AIG throws blame onto financiers in the wake of Flashpoint Court of Appeal decision. We re-publish the release in full.
  • Gross results demonstrate sectors dependence on cheap reinsurance, and highlight concerns over expected recovery in the light of continuing stiff competition. Personal Accident: "An insurance policy which, in return for regular premiums, pays a specif
  • CEOs get cheap options Stock options may be a good form of compensation for start-up companies, but they aren’t appropriate for CEO's at most insurance companies. From a shareholder’s perspective, they have several drawbacks. They don’t align the C
  • Insurer’s refusal leads to default on up to $183mn of CSFB Flashpoint bonds, but will the tactic backfire? According to the industry quip, AIG's unofficial motto is “make a claim, and we'll sue you”; a cheap shot at the world's largest insurance compa
  • R&SA and Heath’s sued over $160mn film finance dispute US entertainment company Artisan Entertainment is suing R&SA and insurance broker Heath Insurance Broking Ltd for fraud and deceit over a complicated $160 mn insurance backed financing deal.
  • HIH - Spreading the Blame The Australians are not allowing the embarrassing collapse of HIH to go quietly - but then again they are desperately searching for people to blame in what threatens to become the country’s worst corporate collapse with fears
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