Insurance industry
Standard Life is pursuing Royal Bank of Scotland as a key distribution partner for its products, aiming to tap into the bank's extensive customer base. RBS, one of several banks still using a joint venture model with partner Norwich Union, is likely to review its current agreement with
Insurance industry
As the UK prepares to implement new rules affecting personal pensions, financial advisers are set to reap significant rewards. The changes, set to come into force next April, will allow clients to make one-off contributions to their pension pots, creating a lucrative market for financial advisers. Life companies such as
Insurance industry
Aon's quarterly profits have witnessed a significant 10% jump, reaching $191 million, or 57 cents per share, compared to $173 million, or 52 cents, in the same period last year. This upward trend has propelled Aon's shares to rise 17% yesterday, with the insurance broker announcing
Insurance industry
As the recent wave of bombings in London and Egypt serves as a grim reminder of the importance of safeguarding the nation's food supply from terrorism, agribusiness experts emphasize the need for continued vigilance against agroterrorism and other food-related disasters. Senior Vice President of Aon Agribusiness and Food
Insurance industry
Equitas, the runoff company handling pre-1993 liabilities of Lloyd's, has agreed to pay manufacturer Crane Co. $33 million to settle insurance claims for asbestos and other liabilities. The settlement, which includes $1.5 million to be paid to Crane in the third quarter of this year, will also
Insurance industry
The intense competition in the commercial insurance sector is driving down premiums, with the clients of 53% of brokers experiencing a reduction in insurance premiums. The trend was most marked in the public liability sector, where 33% of respondents reported a drop in premiums by between 10% and 19%. However,
Insurance industry
A disturbing case of insurance claim mishandling came to light in 2005 when a car owner's vehicle was deemed a write-off by Norwich Union (NU). Despite the insurer's acknowledgement of "complete human error," the car owner, EA, was left waiting for several months for
Insurance industry
Sara McGreavy, a 22-year-old sprint hurdles prospect, ended in seventh place in the 100m hurdles final at the Norwich Union World and Commonwealth Trials and AAA Championships in Manchester with a time of 13.87 seconds. Despite qualifying for the final with a 14.00sec heat time, McGreavy fell short
Insurance industry
WellPoint Inc., the nation's largest publicly traded health insurance company, has agreed to pay as much as $198 million to settle two class-action lawsuits with 700,000 U.S. physicians. The lawsuits alleged that WellPoint and other companies conspired to delay and deny reimbursements for health-care services. As
Insurance industry
WellPoint, the nation's leading health benefits company, has reached an agreement with representatives of over 700,000 physicians across the country, resolving two major national multi-district lawsuits filed in federal court. The agreement, worth $135 million, is a significant step forward in WellPoint's efforts to collaborate
Insurance industry
World leaders meeting at the Group of Eight summit in Gleneagles failed to set targets or a timetable for action on climate change, despite a warning from environmental groups that the impact of climate change is being felt increasingly around the world. Extreme weather events have cost the insurance industry
Insurance industry
The Terrorism Risk Insurance Act of 2002 (TRIA) has served its function as a temporary backstop against catastrophic terrorism losses and should not be renewed in its current form, a U.S. Treasury Department report concludes. Commissioned to review the effectiveness of TRIA, the study found that insurer surplus and
