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Hiscox specialty head Bruce exits
David Bruce, head of specialty London market business, has left Hiscox suddenly after a distinguished career with the blue-chip Lloyd's (re)insurer that spanned almost 40 years, The Insurance Insider can reveal
14 November 2011
Flowers facing $48mn MF Global loss
The institutional investors heavily burned by the collapse of broking house MF Global include hedge fund eminence grise Chris Flowers, who is facing loses of $47.8mn on his stake, according to Bloomberg.
14 November 2011
HCC on the hook as MF Global suits begin
Investor action against failed broking house MF Global has begun in earnest, with a suit filed in New York that accuses the firm's top executives of defrauding investors.
14 November 2011
Wade confirms Lloyd’s Council stand
Besso chairman Michael Wade has confirmed his candidature at the upcoming elections for the Council of Lloyd's as a working member, The Insurance Insider can reveal.
14 November 2011
Undercover Economist says beware the safety net
Safety measures in financial systems can backfire and create even more problems, "Undercover economist" and Financial Times columnist Tim Harford explained to an audience of over 300 London market figures last week.
14 November 2011
NAIC gives green light to reduced collateral model
Non-US reinsurers could be eligible for reduced collateral requirements when writing reinsurance business in the US, under new laws unveiled on 6 November by the National Association of Insurance Commissioners (NAIC).
14 November 2011
London hears regulatory burden will get worse
The regulatory millstone already considered one of the biggest challenges for the industry is about to get heavier.
14 November 2011
SRA responds to unrated insurance concerns
The Solicitors Regulation Authority (SRA) has responded to growing criticism of the role of unrated insurers in the solicitors' professional indemnity (PI) market by outlining plans to force firms to list their financial strength ratings.
14 November 2011
Australia outlines flood insurance overhaul
The Australian government has outlined a series of "common sense" proposals for reforming the way flood insurance is provided.
14 November 2011
Demand grows for aggregate ILWs
Aggregate industry loss warranty (ILW) covers have grown in popularity this year but there are questions over how much supply will be in the market next year.
14 November 2011
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