News

Lloyd’s emerging market expansion given thumbs up

17 May 2012 // 0 Comments

The Lloyd's insurance market's planned expansion into emerging markets is a net positive, even though writing insurance outside of established markets carries additional risks, according to Fitch Ratings. Fitch said it expects the economic development of emerging market economies to boost demand for insurance and reinsurance. Lloyd's already writes 25% of its business outside of Europe and North America, with the growth of insurance premiums outpacing that of developed markets. [...]

Update: Marsh UK flood cover has insurer backing

3 April 2012 // 0 Comments

Global broking group Marsh said its affordable flood insurance plan has "critical mass", despite pessimism from one commentator today. Marsh and its sister company Guy Carpenter announced 'Project Noah' which they claim can secure affordable flood insurance for at risk properties in the UK, only to have the idea chastised following a tweet from an Insurance Edge reader.

Could the police outsource to insurers?

12 March 2012 // 0 Comments

THE HEAD OF one of the UK's largest police forces has invited insurers to help and invest in combating fraud and other criminal activity. In a speech to the Insurance Institute of Manchester, Peter Fahy, chief constable of Greater Manchester Police indicated his support for the idea of law enforcement working more closely with the private sector and 'outsourcing' certain services. "We've got to save £138m from our budget," said Mr Fahy. "We are saving insurance industry money [through our investigations of crash for cash, fraud etc] is there no way we can't work together more?" [...]