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  • The UK Financial Services Authority (FSA) warned major insurance brokers of failings in the way they protect their clients' money and assets and confirmed that more rigorous reporting will be reintroduced.
  • Global insurer Ace is thought to lead the cover for the insurance policy on Ethiopian Airlines flight 409, which crashed into the water off Lebanon's south coast five minutes after take-off at 00:30 GMT this morning (25 January).
  • Last week's SFr1.3bn transfer of a closed block of US life reinsurance business to Berkshire Hathaway (BH) continues to bemuse analysts and industry commentators alike.
  • Hyperion appoints CEO and COO of Howden Broking Group; Ironshore extends global property offering; Markel launches trade credit division with senior hire; Brit hires AIG execs to boost global markets unit.
  • The economic costs of the summer 2007 floods in the UK were approximately £3.2bn and within a possible range of between £2.5-£3.8bn, according to the UK Environment Agency (UKEA).
  • The London market's process reform agenda will make "big gains" this year as electronic accounting and a more sophisticated electronic claims platform is rolled out, according to the chairman of the International Underwriting Association (IUA).
  • The Bermuda Monetary Authority (BMA) has unveiled its 2010 plan, which focuses on regulatory transparency to meet the looming demands of Solvency II and the aftermath of the 2008 financial crisis.
  • Liability and legal expenses and after-the-event insurers will be among those on the alert after Lord Justice Jackson published his final report on UK civil litigation cost reform last week.
  • The insurance industry was judged the winner following publication of a major report into reforming UK civil litigation costs last week (see story 28).
  • Expansive insurer Torus made its latest move into new lines last week as it announced entry into the US medical malpractice market.