Archive for the ‘IUA’ Category

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

IUA establishes code of conduct to encourage adoption of electronic placements

IUA establishes code of conduct to encourage adoption of electronic placements
Malcolm Newman The International Underwriting Association has established a code of conduct for the use of electronic trading by its member companies in the London insurance market Guidelines have been drawn up to encourage firms in their adoption of the Placing Platform (PPL) system that aims to cut...
March 26th, 2018 | IUA | Read More

Chaucer joins IUA

Chaucer joins IUA
Dave Matcham The International Underwriting Association has announced Chaucer Insurance Company DAC as its newest member company. The firm was established last year, as part of the wider Chaucer group, to write a broad range of international specialty insurance business. It offers clients greater choice...
February 20th, 2018 | Company Profiles, Insurance and Reinsurance, IUA, News | Read More

IUA cyber group calls for registry of claims data

IUA cyber group calls for registry of claims data
… The rapid growth of cyber threats has created challenges for the insurance industry in developing underwriting talent, acquiring claims data, establishing modelling techniques and securing reinsurance capacity. A new report by the International Underwriting Association’s Cyber Underwriting...
January 31st, 2018 | Associations, IUA | Read More

New IUA report looks at liability insurance for drones

New IUA report looks at liability insurance for drones
Chris Jones Traditional aviation insurance policies are unlikely to address all elements of emerging risks from the rapidly increasing use of drones and general liability underwriters will have an important role to play in providing cover, according to a new report from the International Underwriting...
January 29th, 2018 | Aviation, Insurance and Reinsurance, IUA | Read More

IUA identifies London Insurance Market priorities for 2018

IUA identifies London Insurance Market priorities for 2018
Dave Matcham Regulatory developments dominate priorities identified for the London company insurance market in 2018 by the International Underwriting Association. Whilst preparations for Brexit will continue to attract a great deal of attention, the year will also see firms adapting to several other...
January 17th, 2018 | Associations, Insurance and Reinsurance, IUA, Marine Insurance | Read More

IUA media comment on post-Brexit regulation of insurers

IUA media comment on post-Brexit regulation of insurers
Dave Matcham Please see below an IUA comment on today’s PRA, FCA and HM Treasury announcements relating to authorisations and permissions for insurers post-Brexit. Dave Matcham, chief executive of the International Underwriting Association welcomed news of the UK regulator’s intention to accommodate...
December 20th, 2017 | Associations, Insurance and Reinsurance, IUA, Marine Insurance | Read More

IUA media comment on Brexit negotiations

IUA media comment on Brexit negotiations
Dave Matcham Dave Matcham, chief executive of the International Underwriting Association, said: “It is a great relief to hear that Brexit discussions are now ready to move onto the details of a new trading relationship between the EU and UK. London’s role as a global insurance centre, hosting branch...
December 8th, 2017 | Associations, European Union, IUA, Markets, Organisations | Read More

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