Archive for the ‘IUA’ Category

IUA publishes on-demand insurance report

IUA publishes on-demand insurance report
IUA publishes on-demand insurance report On-demand insurance will play a fundamental role in the future of the industry, new research published by the International Underwriting Association (IUA) states. Pay-as-you go models of cover will allow customers to automatically activate policies when and where...
October 16th, 2019 | Insurance and Reinsurance, IUA | Read More

London Company Market premium rises to £28.4bn

London Company Market premium rises to £28.4bn
Dave Matcham LONDON COMPANY MARKET PREMIUM RISES TO £28.4BN Premium income in the London company market has increased to £28.437bn, a new report by the International Underwriting Association (IUA) has shown. Gross written premium in London for 2018 was £19.559bn while a further £8.877bn was identified...
October 10th, 2019 | Insurance and Reinsurance, IUA, Marine Insurance, Reports | Read More

IUA comment on discount rate announced

IUA comment on discount rate announced
Dave Matcham IUA comment on discount rate announced The announcement of a new personal injury discount rate of minus 0.25% is a surprising and disappointing outcome for insurers, the International Underwriting Association has stated. Dave Matcham, IUA chief executive, said: “The new methodology for...
July 15th, 2019 | IUA | Read More

New London Market Data Protection group established

New London Market Data Protection group established
Chris Jones New London Market Data Protection group established A new group is being established to tackle data protection issues in the London company market. Members of the International Underwriting Association (IUA) want to discuss the impact of the General Data Protection Regulation (GDPR) and other...
June 20th, 2019 | Insurance and Reinsurance, IUA, Marine Insurance | Read More

IUA publishes Cyber Exclusion Clauses

IUA publishes Cyber Exclusion Clauses
Chris Jones IUA publishes Cyber Exclusion Clauses Two new London Market model clauses to help underwriters manage cyber losses have been published by the International Underwriting Association (IUA). The wordings have been developed in order to address issues of non-affirmative or ‘silent’ cover,...
June 5th, 2019 | Insurance and Reinsurance, IT and Communications, IUA, Marine Insurance | Read More

End confusion around the Prudent Uninsured Test, urges claims expert at spring 2019 seminar of the Association of Average Adjusters

End confusion around the Prudent Uninsured Test, urges claims expert at spring 2019 seminar of the Association of Average Adjusters
Nigel Rogers (left) and Keith Jones End confusion around the Prudent Uninsured Test, urges claims expert at spring 2019 seminar of the Association of Average Adjusters Shipowners dealing with repairs and other essentials after a marine casualty are often asked by their insurer to treat such expenses...
April 3rd, 2019 | Associations, Conferences, Seminars, Forums, IUA, Marine Insurance | Read More

IUA calls for new laws on driverless cars

IUA calls for new laws on driverless cars
Chris Jones People using driverless cars should still not take their eyes off the road, if they could be expected to take over the vehicle at short notice in an emergency, the International Underwriting Association (IUA) has stated. Unless a vehicle is highly automated users should be banned from performing...
February 12th, 2019 | Automobiles, Insurance and Reinsurance, IUA | Read More

IUA sets out priorities for London Company Market in 2019

IUA sets out priorities for London Company Market in 2019
Dave Matcham The publication of a major official report on the wholesale insurance market is just one of several regulatory issues expected to dominate the International Underwriting Association’s agenda in 2019. The body, which represents the London company market, has issued its annual business plan...
January 28th, 2019 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, Reports, Sanctions | Read More

New IUA appointment to review central processing services

New IUA appointment to review central processing services
Peter Sammons The International Underwriting Association (IUA) has appointed a consultant to help its member companies make the most of their use of central London Market processing services. A review of service levels will be conducted and the full range of end-end-end business processes analysed, including...
January 17th, 2019 | Associations, Company Profiles, Insurance and Reinsurance, IUA, Marine Insurance, Person Profiles | Read More

The BDI@1,339: The roulette wheel keeps turning. It all depends on what day of the week you fix

The BDI@1,339: The roulette wheel keeps turning. It all depends on what day of the week you fix
John Faraclas The BDI@1,339: The roulette wheel keeps turning. It all depends on what day of the week you fix. Just compare to only 5 days ago (22/11) and see what you get out of this. The BCI has exactly doubled whilst Handies and Supras are completely flat; all the Capes heading to China. Geopolitics...
November 27th, 2018 | Associations, Classification Societies, Insight, Insurance and Reinsurance, IUA, Marine Insurance, Markets, News, Reports, Technical, Technology | Read More

London launches Sharia principles as market looks to Islamic opportunities

London launches Sharia principles as market looks to Islamic opportunities
Max Taylor The London market has taken a significant step forward in its plans to deliver Sharia-compliant capacity for Islamic commercial risks with the Islamic Insurance Association of London (IIAL) launching a set of Guiding Principles for the provision of Sharia-insurance. The principles, will be...
November 27th, 2018 | Events, Conferences,Forums and Symposiums, Insurance and Reinsurance, IUA, Marine Insurance | Read More

New London Market Human Resources Group launched

New London Market Human Resources Group launched
Louise Day A new London Market group for human resources professionals has been established by the International Underwriting Association. The move comes in response to a growing number of regulatory changes and initiatives across the insurance sector to boost education, training, talent recruitment...
October 24th, 2018 | HR, Insurance and Reinsurance, IUA | Read More

London company market income jumps to £26.3bn

London company market income jumps to £26.3bn
Premium income in the London company market has jumped to £26.314bn, a new report by the International Underwriting Association (IUA) has revealed. Gross written premium in London for 2017 was £18.331bn while a further £7.984bn was identified as written in other locations, but overseen and managed...
October 16th, 2018 | Insurance and Reinsurance, IUA, Marine Insurance, Reports | Read More

IUA survey cites obstacles to adoption of autonomous vehicles

IUA survey cites obstacles to adoption of autonomous vehicles
Driverless ships and aviation drones face fewer barriers to adoption than driverless cars. That is the view of underwriting professionals replying to an International Underwriting Association (IUA) survey on developing technologies. Respondents expressed concern about a lack of associated infrastructures...
October 8th, 2018 | Automobiles, IUA | Read More

IUA issues new Brexit contract continuity clause

IUA issues new Brexit contract continuity clause
Chris Jones A second Brexit contract continuity clause has been published by the International Underwriting Association. Last month the association issued a policy clause to help companies manage insurance contracts as the UK leaves the European Union and this has now been followed up with a supporting...
July 27th, 2018 | Associations, European Union, Insurance and Reinsurance, IUA, Marine Insurance | Read More

IUA Chairman addresses Annual General Meeting

IUA Chairman addresses Annual General Meeting
Malcolm Newman Brexit is the greatest structural challenge facing the London company market, the Chairman of the International Underwriting Association declared at its annual general meeting today (25 July). Speaking to member representatives at the association’s Minster Court office, Malcolm Newman...
July 25th, 2018 | Associations, IUA | Read More

IUA comment on mutualisation of motor terrorism risks

IUA comment on mutualisation of motor terrorism risks
Chris Jones The IUA has welcomed a vote by UK motor insurers to mutualise risks for terrorism claims. The Motor Insurance Bureau (MIB), a not-for-profit body which deals with uninsured ‘hit and run’ accidents, will in future provide compensation for victims of vehicle-related terrorist events. Members...
July 23rd, 2018 | Insurance and Reinsurance, IUA, Piracy and Terrorism | Read More

IUA published Cyber Insurance and Business interruption report

IUA published Cyber Insurance  and Business interruption report
Matthew Hogg The market for cyber business interruption cover is complex and the protection offered by different policies can vary widely, according to a new report from the International Underwriting Association. Most current business interruption coverages are standalone policy extensions, the triggers...
July 23rd, 2018 | Insurance and Reinsurance, IUA, Marine Insurance, Reports | Read More

IUA press comment on Brexit White Paper

IUA press comment on Brexit White Paper
Dave Matcham Viewers can find here below a comment from the International Underwriting Association on the publication of the UK Government’s Brexit White Paper Dave Matcham, chief executive of the International Underwriting Association, said: “The IUA welcomes publication of the Government’s Brexit...
July 12th, 2018 | Insurance and Reinsurance, IUA | Read More

HFW Insurance Bulletin 22 June 2018

HFW Insurance Bulletin 22 June 2018
Costas Frangeskides, partner HFW INSURANCE BULLETIN, JUNE 2018 EDITION 3 In this issue: Regulation and legislation; Market developments; HFW Publications and events 1. Regulation and legislation UK: FCA regulation of claims management companies: FCA consults on proposed rules Following a review of claims...
June 22nd, 2018 | Insight, Insurance and Reinsurance, IUA, Legal, Marine Insurance | Read More

IUA publishes guide on insurance implications of GDPR

IUA publishes guide on insurance implications of GDPR
Chris Jones The General Data Protection Regulation raises the possibility of a potential increase in insurance claims for data breaches, a new report from the International Underwriting Association has stated. Insurers should, therefore, carefully consider whether policy limits and sub-limits currently...
June 7th, 2018 | Communication, IT and Communications, IUA, Technology | Read More

IUA forms new cyber reinsurance group

IUA forms new cyber reinsurance group
Chris Jones IUA FORMS NEW CYBER REINSURANCE GROUP  FOR LONDON COMPANY MARKET A new cyber group dedicated specifically to considering the concerns of reinsurers has been established by the International Underwriting Association. The move follows a growing interest amongst reinsurance practitioners in...
May 23rd, 2018 | Associations, Insurance and Reinsurance, IUA | Read More

IUA warns against credit risk reforms

IUA warns against credit risk reforms
Chris Jones Credit risk insurance policies are likely to become more expensive and less readily available if proposed new regulatory changes are pursued, the International Underwriting Association (IUA) has warned. Planned reforms could cause some London Market insurers to conclude the product is no...
May 16th, 2018 | Banking, IUA | Read More

Abortive repairs: a new accident or the unfinished business of an old one?

Abortive repairs: a new accident or the unfinished business of an old one?
Stelios Magkanaris (left) and Keith Jones Abortive repairs: a new accident or the unfinished business of an old one? Association of Average Adjusters speaker tackles the dilemma A three-pronged approach is required when considering the issue of a new intervening cause in contentious instances...
April 25th, 2018 | Associations, Conferences, Seminars, Forums, IUA, Marine Insurance | Read More

Developing Markets, Meeting Demand, Delivering Capacity

Developing Markets, Meeting Demand, Delivering Capacity
Dave Matcham World Takaful Summit – Dubai 9 April 2018, Dave Matcham, CEO, IUA Viewers can find herebelow the script of a speech that International Underwriting Association chief executive Dave Matcham delivered today  (Monday 9 April) at the World Takaful Conference in Dubai: It is a pleasure to...
April 9th, 2018 | Events, Conferences,Forums and Symposiums, Insurance and Reinsurance, IUA, Marine Insurance | Read More