ASIC to enforce US law too
24 October 2006
The investment watchdog may soon be inspecting local companies on behalf of US regulators…
International
Buffett answers Equitas liability question
24 October 2006
The world’s second-richest man has come to the rescue of about 34,000 private investors with a stake in the run-off liabilities of Lloyd’s vehicle Equitas…
WTC ruling divides insurers
24 October 2006
A US Federal Appeals Court has delivered a mixed verdict to World Trade Centre leaseholder Larry Silverstein, meaning he will be able to collect $1.1 billion ($1.45 billion)…
Gallagher CEO named Chairman
24 October 2006
US insurance brokerage Arthur J Gallagher has appointed President and CEO J Patrick Gallagher Jnr to the additional post of Chairman…
US market continues to soften
24 October 2006
The US insurance industry is experiencing similar trends to local insurers when it comes to the continued softening of the market…
Willis named in Marsh move
17 October 2006
No 3 global broker Willis has had its “informal” offer for No 1 broker Marsh & McLennan rebuffed, according to London media reports…
Action urged on climate change
17 October 2006
North American insurers must do more to deal with the effects of climate change, according to a new report co-written by Allianz and the World Wildlife Fund…
US earthquake fear
17 October 2006
Few Americans have invested in earthquake insurance despite the enormous damage earthquakes can cause, according to ratings agency AM Best…
Lloyd’s boss warns against complacency
10 October 2006
Lloyd’s CEO Richard Ward says the industry needs to rise to the challenge and not rest on its laurels and “reflect on our glorious past”…
Japanese insurers fail to pay
10 October 2006
Japan’s largest general insurance companies face penalties after acknowledging they failed to pay about 262,000 claims valued at about ¥16.2 billion ($184 million)…
El Niño here until March
10 October 2006
The US Climate Prediction Centre believes the Asia Pacific region is in the midst of an El Niño weather pattern that will affect the weather until at least March next year…
Lloyd’s earnings drop but outlook okay
03 October 2006
Lloyd’s profit has fallen 2.2% to £1.35 billion ($3.39 billion) for the first six months of the year after investment income fell £86 million ($215.9 million)…
RSA flees US market
03 October 2006
Just over three years after departing the Australian and New Zealand markets, British insurer Royal and Sun Alliance has signed a deal that will see it escape from the difficulties…
Cold shoulder for insurance plan
03 October 2006
Legislation introduced by Republican Edward Royce in the US House of Representatives last week would allow some insurers to be regulated by the Federal Government…
UK regulator’s new rules
26 September 2006
The UK Financial Services Authority has produced new proposals for regulatory reform that includes guidance on reporting reinsurance contracts…
Agents group attacks fee deal
26 September 2006
Insurance agents in the US are protesting against planned settlements between state attorneys-general and a collection of insurers…
Allianz firm on restructuring
26 September 2006
German insurer Allianz says its extensive restructuring is on track and there are no plans to adjust its employment needs…
Rates tipped to stay high
26 September 2006
The cost of insurance will remain high for the rest of the year – even without high storm activity – according to a study by The Times of London.
Big job losses at Aviva and Marsh
19 September 2006
Marsh & McLennan plans to cut 750 jobs in the US, while in the UK insurer Aviva is planning an even more drastic shedding of 4000 jobs…
Spitzer a step closer to governorship
19 September 2006
The man who changed the way US insurers and major brokers do business, New York Attorney-General Eliot Spitzer, has won the state’s Democratic Party nomination…