Archive for the ‘IUA’ Category

IUA issues Good Practice Guide for Delegated Authorities

IUA issues Good Practice Guide for Delegated Authorities
Dave Matcham A guide to good practice for delegated authority arrangements in the London company market has been published by the International Underwriting Association. The document urges firms to keep customer impacts uppermost in mind when outsourcing particular functions. It highlights the need for...
November 17th, 2017 | Insurance and Reinsurance, IUA, Marine Insurance | Read More

Early Dry and Wet Market blues…

Early Dry and Wet Market blues…
John Faraclas Did I hear you say shipping business intuition, eh??? The BDI (Baltic Dry Index) despite a steady upwards …“spree” ended the day with four points down at 1,578, which on the other hand is 91 points plus since last week’s closing (1,487). The wets were both down. The Geopolitics...
October 20th, 2017 | Associations, Books, Charity, European Union, Events, Food and Drink, Insurance and Reinsurance, IUA, Marine Insurance, Markets, News, Person Profiles, Politics and Government, Press and Media, Reports, Shipping Centers, Shipping Indices, Statistics, Stock Markets | Read More

London companies record £22.7bn premium income

London companies record £22.7bn premium income
Dave Matcham IUA research identifies business likely to be impacted by Brexit rule changes Overall premium income for the London company market in 2016 was £22.725bn, a new report by the International Underwriting Association has revealed. Gross premium written in London totalled £16.034bn, while a...
October 20th, 2017 | Insurance and Reinsurance, IUA, Marine Insurance, Reports | Read More

IUA member survey reveals business priorities for London company market

IUA member survey reveals business priorities for London company market
Dave Matcham The top three challenges facing London market companies are the soft market, Brexit and regulatory compliance, according to a survey of International Underwriting Association members. In an online questionnaire, members also cited the IT/cyber revolution, the challenge of innovating new...
September 28th, 2017 | Associations, Insurance and Reinsurance, IUA, Trade and Commerce | Read More

IUA comment on discount rate reform

IUA comment on discount rate reform
Dave Matcham Please find below a comment from the International Underwriting Association on the Lord Chancellor’s proposals for reform of the way in which personal injury compensation is calculated. Dave Matcham, chief executive of the International Underwriting Association, welcomed the reform proposal....
September 7th, 2017 | Insurance and Reinsurance, IUA | Read More

IUA media comment: EU/US covered agreement

IUA media comment: EU/US covered agreement
Dave Matcham Viewers can  find below an IUA comment on announcement by US Department of the Treasury and the Office of the US Trade Representative that they intend to sign Bilateral Agreement between the US and EU on Prudential Measures Regarding Insurance and Reinsurance. https://www.treasury.gov/press-center/press-releases/Pages/sm0124.aspx#.WWkFhgQPFhk.twitter Dave...
July 17th, 2017 | IUA | Read More

Who isn’t afraid of the BDI@ 829…

Who isn’t afraid of the BDI@ 829…
John N. Faraclas The BDI (Baltic Dry Index) lost 18 points earlier on today and now stands uncomfortably at 829 points; the Geopolitics inclusive of the  G20 forum taking place tomorrow in Hamburg will determine a great deal of future politics and trade AND possibly the environment. John Faraclas’...
July 6th, 2017 | Associations, Bribery and Corruption, Charity, Chartering, Conferences, Seminars, Forums, Containers, Corruption, European Union, Food and Drink, IUA, Markets, Military, Oil Industry, Piracy and Terrorism, Politics and Government, Ports & Terminals, Press and Media, Safety and Security, Shipping Indices, Tankers, Trade and Commerce | Read More

Publication of EU Contract Continuation Clause

Publication of EU Contract Continuation Clause
Chris Jones The Aviation Insurance Clauses Group (AICG) has published a new model EU contract continuation clause (reference AVN 121). The AICG was established in June 2005 by the International Underwriting Association of London and the Lloyd’s Market Association.  It publishes non-binding standard...
June 19th, 2017 | Airline Industry, Aviation, Insurance and Reinsurance, IUA | Read More

SRA announces executive committee line-up for 2017/18

SRA announces executive committee line-up for 2017/18
Marc Haushofer Monday, 12 June 2017 – The Singapore Reinsurers’ Association (SRA) has announced the line-up of its Executive Committee (EXCO) for the 2017/2018 term of office with Mr Marc Haushofer, Chief Executive Officer, Asia Pacific & Executive Vice President of Validus Reinsurance Company,...
June 12th, 2017 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, Person Profiles | Read More

IUA responds to London Matters 2017

IUA responds to London Matters 2017
Dave Matcham New data outlines clear opportunities for growth  A clear opportunity exists for the London Market to serve as a truly global centre for specialised insurance business, the International Underwriting Association has stated. Responding to new industry data published in London Matters 2017,...
May 10th, 2017 | Associations, Insurance and Reinsurance, IUA, Marine Insurance | Read More

New professional indemnity insurance examination set for expansion

New professional indemnity insurance examination set for expansion
Chris Jones A dedicated qualification for professional indemnity practitioners is set to be expanded after a successful first round of examinations. The International Underwriting Association launched the Professional Indemnity Form (PIF) Test last year in response to requests from companies writing...
February 27th, 2017 | Associations, Education and Training, Insurance and Reinsurance, IUA, Marine Insurance, Maritime Education and Training | Read More

IUA identifies London Market priorities for 2017

IUA identifies London Market priorities for 2017
Dave Matcham Five priorities for the London company market in 2017 have been identified by the International Underwriting Association. Over the past 12 months, member firms have faced considerable challenges, commented the association’s chief executive Dave Matcham, but the IUA is well positioned to...
January 3rd, 2017 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, News | Read More

London Insurance companies identify four BREXIT priorities

London Insurance companies identify four BREXIT priorities
Dave Matcham Four detailed priorities from Brexit negotiations have been identified by companies in the London insurance market. The objectives, issued by the International Underwriting Association (IUA), outline arrangements that will help the city maintain its position as the largest global centre...
November 30th, 2016 | HR, Insurance and Reinsurance, IUA, Marine Insurance | Read More

IUA Group to monitor new technologies

IUA Group to monitor new technologies
Chris Jones A new London Market group is being established by the International Underwriting Association to examine the future impact of technology on underwriting. The association’s Developing Technology Monitoring Group will consider how new risks may be written in London and existing insurance policies...
October 31st, 2016 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, Technology | Read More

IUA calls for covered agreement…

IUA calls for covered agreement…
Dave Matcham IUA CALLS FOR COVERED AGREEMENT TO IMPROVE INTERNATIONAL REINSURANCE REGULATION  Improvements in the efficiency of reinsurance regulation are at risk of being undone if a covered agreement between Europe and the US is not reached, the International Underwriting Association (IUA) has warned. In...
October 20th, 2016 | Associations, Insurance and Reinsurance, IUA, Marine Insurance | Read More

London Companies record £21.6bn premium income in 2015

London Companies record £21.6bn premium income in 2015
Dave Matcham IUA research identifies £7.3bn premium potentially impacted by Brexit Overall premium income for the London company market in 2015 was £21.645bn, a new report by the International Underwriting Association has revealed. Gross premium written in London totalled £15.150bn, while a further...
October 18th, 2016 | Insurance and Reinsurance, IUA, Marine Insurance, Reports | Read More

IUA membership hits highest level for a decade

IUA membership hits highest level for a decade
Dave Matcham Two new companies have joined the International Underwriting Association (IUA), increasing the organisation’s membership level to its highest in more than a decade. Membership applications from both the Norwegian Hull Club and General Insurance Corporation of India were formally approved...
August 4th, 2016 | Associations, Company Profiles, Insurance and Reinsurance, IUA, Marine Insurance | Read More

IUA to review ten years of catastrophe modelling‏

IUA to review ten years of catastrophe modelling‏
Dave Matcham Ten years of catastrophe risk management developments will be reviewed at an International Underwriting Association seminar. Over the last decade the London Market body has hosted an annual meeting looking at how risk modelling techniques can be applied across a range of underwriting disciplines. In...
August 1st, 2016 | Associations, IUA | Read More

IUA appoints new finance manager‏

IUA appoints new finance manager‏
Maria Jauregui The International Underwriting Association (IUA) has appointed a new Finance Manager to support its work responding to tax and accounting developments affecting the London company market. Maria Jauregui will provide overall management of the association’s financial responsibilities,...
July 11th, 2016 | Associations, Company Profiles, HR, Insurance and Reinsurance, IUA, Marine Insurance, News, Person Profiles | Read More

Senior London Market figures elected to IUA Board‏

Senior London Market figures elected to IUA Board‏
Dave Matcham Six senior London Market executives have been elected to the governing board of the International Underwriting Association. At the organisation’s annual general meeting five members were formally elected after being co-opted to serve over the past 12 months. They are: James Weatherstone,...
July 5th, 2016 | Company Profiles, Insurance and Reinsurance, IUA, Marine Insurance, Person Profiles | Read More

IUA holds agm and calls for speedy confirmation of new UK/EU trading relationship

IUA holds agm and calls for speedy confirmation of new UK/EU trading relationship
The report’s front cover IUA HOLDS ANNUAL MEETING AND CALLS FOR SPEEDY CONFIRMATION OF NEW UK/EU TRADING RELATIONSHIP Proposals for a new trading relationship between the UK and the EU must be set out as soon as possible, the International Underwriting Association (IUA) has urged. The impact of the...
June 30th, 2016 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, News | Read More

The IUA responds to EU referendum vote

The IUA responds to EU referendum vote
Dave Matcham The London insurance market is resilient and well-positioned to respond to the result of the referendum on the UK’s membership of the EU, the International Underwriting Association (IUA) has stated. Insurers have been preparing for the possibility of a vote to leave and considering how...
June 24th, 2016 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, Markets | Read More

New IUA paper highlights growing demand for EU cross-border insurance

New IUA paper highlights growing demand for EU cross-border insurance
Chris Jones Across the European Union there is a growing demand for risks to be written on a Freedom of Services basis, according to a new research paper published by the International Underwriting Association (IUA). Such contracts provide a flexible option for clients and have become a significant option...
June 21st, 2016 | Insurance and Reinsurance, IUA, Marine Insurance | Read More

IUA members highlight value of EU membership‏

IUA members highlight value of EU membership‏
Dave Matcham Membership of the European Union provides insurers with substantial benefits and London Market companies would be significantly damaged if they were lost, the International Underwriting Association has stated. The EU financial services passport allows firms based in London to conduct business...
May 5th, 2016 | Associations, European Union, Insurance and Reinsurance, IUA, Marine Insurance | Read More

IUA launches new professional indemnity insurance examination‏

IUA launches new professional indemnity insurance examination‏
Chris Jones A new qualification for professional indemnity practitioners in the UK market has been developed by the International Underwriting Association. The first candidates have already taken the examination and new courses are now being made available. The IUA’s Professional Indemnity Forum (PIF)...
April 26th, 2016 | Associations, Insurance and Reinsurance, IUA, Marine Insurance | Read More