Archive for the ‘IUA’ Category

New London Market delegated authority group to be created

New London Market delegated authority group to be created
Dave Matcham A new London company market committee is being established to discuss delegated underwriting authorities. The group will be operated by the International Underwriting Association and is being set up in response to a growing number of queries about the subject from its member firms. Delegated...
May 26th, 2015 | Associations, IUA | Read More

IUA disappointed by rise in regulatory fees

IUA disappointed by rise in regulatory fees
Chris Jones The Prudential Regulatory Authority has proposed to raise its industry charge for ongoing regulatory activities by an average of 4.7%, but the cost to general insurance companies is set to jump by 7.7%. This follows a similar rise for such firms of 1% in 2014/15 when almost all other fees...
May 19th, 2015 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, Regulatory | Read More

New faces on the IUA board

New faces on the IUA board
The Board of the International Underwriting Association has been strengthened by the addition of two senior London Market executives. Geoff Godwin, UK Chief Operating Officer at AIG Property Casualty and Nigel Ingrouille, UK Branch Manager for Swiss Re International SE have both been co-opted to serve....
May 14th, 2015 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, Person Profiles | Read More

Insurers and other UK practitioners prepare to issue updated guidelines for rehabilitation of personal injury claimants

Insurers and other UK practitioners prepare to issue updated guidelines for rehabilitation of personal injury claimants
Mark Baylis, David Fisher and Amanda Stevens Insurers and other UK practitioners prepare to issue updated guidelines for rehabilitation of personal injury claimants,  By James Brewer A London meeting of insurance and other practitioners to discuss the planned new Rehabilitation Code and accompanying...
May 12th, 2015 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, News | Read More

IUA welcomes EU-US Reinsurance negotiations

IUA welcomes EU-US Reinsurance negotiations
Dave Matcham The International Underwriting Association has welcomed a move to open talks between the EU and US on reinsurance. A mandate has been issued by the Council of the EU authorising the negotiation of an agreement to improve trading conditions and streamline supervision procedures. Dave Matcham,...
April 23rd, 2015 | Insurance and Reinsurance, IUA | Read More

Scottish Asbestos Proposal likely to prove unlawful warns IUA

Scottish Asbestos Proposal likely to prove unlawful warns IUA
Chris Jones A proposal for the Scottish government to recover medical costs for treating asbestos diseases is unequitable, could prove unlawful and would drive up the cost of liability insurance. The plan to retroactively extend the terms of insurance policies would breach the rights of insurance companies,...
April 14th, 2015 | Associations, Corporate Social Responsibility, Environment, Health and Safety, HR, IUA, Marine Insurance, Medical, Safety and Security | Read More

Bad Faith round-up…

Bad Faith round-up…
Michael Thompson, Ann Waite and Joseph Grasso. Bad Faith round-up: law firm Wiggin and Dana offers advice to insurers seeking to avoid bad news from US courts By James Brewer London underwriters have been warned that coverage dispute lawsuits in the United States could bring heavy financial consequences...
April 7th, 2015 | Associations, Bribery and Corruption, Claims, Corruption, Disputes, Insight, Insurance and Reinsurance, IUA, Legal, Marine Insurance, Maritime Fraud, News, Seizures | Read More

You’re hired! New IUA apprentice recruited

You’re hired! New IUA apprentice recruited
Tom Hughes The International Underwriting Association has appointed its first apprentice. Tom Hughes will become a full-time employee from next month, strengthening its work supporting London market companies. He will spend his first year at the association rotating between different departments in order...
March 25th, 2015 | Associations, Communication, Company Profiles, Corporate Social Responsibility, HR, IUA, Jobs, People and Places, Person Profiles | Read More

IUA comment on the Budget

IUA comment on the Budget
Dave Matcham Dave Matcham, Chief Executive of the International Underwriting Association, said: “The IUA welcomes the Chancellor’s comments on global reinsurance in the Budget and looks forward to learning in more detail about his plans to help make the London market as competitive as possible. “We...
March 18th, 2015 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, Politics and Government | Read More

IUA to work with risk managers…

IUA to work with risk managers…
Dave Matcham IUA TO WORK WITH RISK MANAGERS ON DEVELOPMENT OF NEW INSURANCE PRODUCTS Efforts to boost the development of innovative insurance products in the London Market have received the support of UK risk managers. The Board of the International Underwriting Association discussed the challenges of...
March 2nd, 2015 | Associations, Insurance and Reinsurance, IUA, Marine Insurance | Read More

IUA seeks clarification on new regulatory regime for insurance managers

IUA seeks clarification on new regulatory regime for insurance managers
Chris Jones The International Underwriting Association has urged UK insurance regulators to state clearly the prime authority of company boards over individual responsibilities for complying with industry rules. Responding to a consultation exercise on a new Senior Insurance Managers Regime, the association...
February 3rd, 2015 | Associations, HR, Insurance and Reinsurance, IUA, Regulatory | Read More

IUA launches new Insurance Premium Tax

IUA launches new Insurance Premium Tax
Nick Lowe IUA LAUNCHES NEW INSURANCE PREMIUM TAX INFORMATION SERVICE AS RATES CONTINUE TO RAISE  A new insurance premium tax information service is to be launched by the International Underwriting Association as governments in Europe continue to use such levies to boost public finances. The IUA’s...
January 12th, 2015 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, Taxation | Read More

TRIA renewal: IUA press comment‏

TRIA renewal: IUA press comment‏
Dave Matcham Viewers can read herebelow a press comment from IUA chief executive Dave Matcham on the renewal of the Terrorism Risk Insurance Act (TRIA). Dave Matcham, Chief Executive of the International Underwriting Association, said: “The IUA is pleased to see the US House of Representatives has...
January 7th, 2015 | Associations, Insurance and Reinsurance, IUA, Piracy and Terrorism | Read More

IUA identifies three key priorities for the London Market in 2015

IUA identifies three key priorities for the London Market in 2015
Dave Matcham Three key priorities have been identified by the International Underwriting Association to boost the London company market in 2015. A new business plan drawn up by the association focuses on several initiatives designed to enhance London’s ability to attract international insurance business....
January 5th, 2015 | Associations, Insurance and Reinsurance, IUA, Marine Insurance | Read More

IUA appoints new director for London Market modernisation projects

IUA appoints new director for London Market modernisation projects
Louise Day The International Underwriting Association has appointed a new Programme Director to lead company involvement in the London Market’s modernisation programme. Louise Day will be the IUA’s primary representative across a range of modernisation initiatives including electronic placement,...
December 9th, 2014 | Associations, Company Profiles, HR, Insurance and Reinsurance, IUA, News, Person Profiles | Read More

Jim Davis in buoyant mood at IMIF’s 39th annual dinner in London

Jim Davis in buoyant mood at IMIF’s 39th annual dinner in London
Clay Maitland, Fred Hardy, Lesley Batchelor, Jim Davis, Charlotte Hall, and Anny Zade Jim Davis in buoyant mood at International Maritime Industries Forum 39th annual dinner in London Cautious optimism that shipowners and shipbuilders have learned the lesson of the “overcapacity years” was expressed...
November 11th, 2014 | Anniversaries, Associations, BIMCO, Events, Flags, HR, IACS, IMarEST, IMIF, Intercargo, Intermanager, International Chamber of Shipping, International Shipping Federation, Intertanko, ITF, IUA, RINA (Royal Institution of Naval Architects, The Nautical Institute | Read More

London company market income from overseas rises 10%

London company market income from overseas rises 10%
New IUA research underlines international nature of business models The overall intellectual and economic premium total for the London company market in 2013 was £24.276bn, a new report by the International Underwriting Association has revealed. The figure is up by 0.2% on the 2012 amount of £24.225bn...
October 28th, 2014 | Associations, Insurance and Reinsurance, IUA, Reports | Read More

IUA research highlights London Market concerns

IUA research highlights London Market concerns
Dave Matcham The London Market must remain vigilant in representing its interests to government and regulators, new research by the International Underwriting Association has found. There is a common belief amongst companies and brokers that the market needs to be fully engaged with officials to influence...
October 28th, 2014 | Associations, Insurance and Reinsurance, IUA | Read More

Argentina is keen to create bigger reinsurance market, but regulations are a challenge…

Argentina is keen to create bigger reinsurance market, but regulations are a challenge…
Martín Argañaraz Luque Argentina is keen to create bigger reinsurance market, but regulations are a challenge, top lawyer warns IUA meeting,  By James Brewer Much of Latin America including one of its largest markets, Argentina, offers substantial opportunities for the insurance industry, a briefing...
October 23rd, 2014 | Associations, Insurance and Reinsurance, IUA, Legal, Marine Insurance, News | Read More

Company Market shows strong interest in new IUA cyber group

Company Market shows strong interest in new IUA cyber group
Chris Jones More than 40 people participated in the first meeting of a new cyber risk group run by the International Underwriting Association for the London company market.  A strong interest in the subject across several different traditional classes of business prompted the association to launch the...
October 21st, 2014 | Associations, Insurance and Reinsurance, IUA, Markets | Read More

IUA highlights compliance burdens at Marine Insurance Conference

IUA highlights compliance burdens at Marine Insurance Conference
Dave Matcham Marine insurers face myriad local compliance regulations when providing cover for international cargo operations, Dave Matcham, chief executive of the International Underwriting Association has warned Speaking at the International Union of Marine Insurance (IUMI) annual conference in Hong...
September 25th, 2014 | Associations, Insurance and Reinsurance, IUA, Marine Insurance, Organisations | Read More

Compliance with sanctions…

Compliance with sanctions…
Richard Tauwhare Compliance with sanctions: IUA hears of the challenge for insurers,  By James Brewer It is costly for businesses and insurers to get things wrong when faced with the growing raft of political and economic sanctions imposed on nations and individuals. “It is also costly to get it right,...
September 15th, 2014 | Associations, Breaking News, European Union, IUA, Military, Organisations, Politics and Government, Sanctions, Trade and Commerce | Read More

London International Shipping Week unveils its 2015 theme

London International Shipping Week unveils its 2015 theme
Jeremy Penn Addressing an official LISW2015 launch event in London, Jeremy Penn, CEO of The Baltic Exchange and Chairman of the LISW Steering Group, underlined the importance of Government and industry working together as shipping looks to shape itself to meet the demands of the next decade. He said:...
September 10th, 2014 | Accountancy, Associations, Classification Societies, Conferences, Seminars, Forums, Corporate Social Responsibility, Energy, Environment, Events, Exhibitions, Flags, HR, IACS, IMarEST, IMIF, Insurance and Reinsurance, Intercargo, Intermanager, International Chamber of Shipping, International Shipping Federation, Intertanko, IT and Communications, ITF, IUA, Jobs, Legal, Manning - Seafarers and Offshore, Marine Equipment Products and Services, Marine Insurance, Maritime Education and Training, Maritime History and Museums, Politics and Government, Ports & Terminals, Shipbuilding and Shipyards, Shipfinance, Shipmanagement, Taxation, Technical, Technology, The Nautical Institute, Tourism, WISTA - Women in Shipping | Read More

Insurance Golfing Society of London celebrates 100th Anniversary

Insurance Golfing Society of London celebrates 100th Anniversary
A picture of the society at recent golf day with Charles Thomson fourth from the left Links to The Open Championship of first meeting on 21 July 1914  The Insurance Golfing Society of London is celebrating its centenary. Founded in 1914 the society was established to provide fixtures and competitions...
July 16th, 2014 | Associations, Events, IUA, People and Places, Sports | Read More

IUA survey reveals importance of regulatory issues in London Company Market

IUA survey reveals importance of regulatory issues in London Company Market
Dave Matcham The three most important regulatory issues for the London company market are supervision by the Financial Conduct Authority and Prudential Regulation Authority, reform of UK insurance contract law and international trade sanctions. That ranking was revealed in the results of a survey conducted...
July 7th, 2014 | Insurance and Reinsurance, IUA, Reports | Read More