United Kingdom News

Hiscox Strengthens UK Motor Offering with Purchase of RH Specialist Insurance

Bermuda-based specialist insurer Hiscox announced it has reached an agreement with Willis to acquire its specialist UK classic car business, RH Specialist Insurance. This acquisition complements Hiscox’s existing expertise in the motor market, having offered specialist and classic car insurance …

UK SMEs Fail to Outsource Non-Core Business Activities: Broker Survey

A significant number of leaders of small and medium-sized enterprises (SMEs) in the United Kingdom perform a lot of tasks outside their job descriptions, instead of outsourcing these to insurance brokers, recruiters or IT specialists, according to research carried out …

Many UK Businesses Do Not Take Risk Culture Seriously: QBE Europe Survey

The vast majority of UK businesses (70 percent) are failing to address the importance of embedding a positive risk culture*, according to survey conducted by UK business insurance specialist QBE European Operations, which is part of Australia’s QBE Insurance Group. QBE …

Insurance Industry Charitable Foundation Launches London Division

The Insurance Industry Charitable Foundation (IICF), a U.S.-based nonprofit organization funded by the insurance industry, has expanded its operations to the United Kingdom with the launch of its first international division. IICF’s newly formed London Division will join the collective …

Marsh to Acquire UK-Based Broker, SME Insurance Services

Marsh announced it has reached a definitive agreement to acquire SME Insurance Services (SMEi), a UK independent broker which provides specialist commercial insurance to small and medium-sized enterprises. Terms of the transaction, which is expected to close in the third …

UK’s Regulator Criticizes Insurers for Failures in Handling Claims for SMEs

The UK’s Financial Conduct Authority criticized the insurance industry for “poor practices” and “significant” failures in handling claims for small and medium-sized enterprises (SMEs). The regulator said a review of the experiences of business customers showed more dissatisfaction with insurers than a …

Reid to Become CEO of UK Retail at Arthur J. Gallagher

Arthur J. Gallagher announced that Stuart Reid will join Arthur J. Gallagher’s international brokerage operation as CEO for UK Retail. Reid will take up the position at Arthur J. Gallagher later this year, subject to regulatory approval, and will use …

Court Dismisses U.S. Suit Against BP Executives, Directs Investors to File in UK

Current and former BP executives and directors won dismissal last week of one of several U.S.-shareholder lawsuits filed over last year’s Gulf of Mexico oil spill. A federal court in Houston on Sept. 15 said it was more appropriate that …

Shell Faces First Nigerian Oil Spill Claims in UK

Royal Dutch Shell has agreed that a Nigerian community impacted by its oil spills can seek compensation in a British court, lawyers in the case have said, potentially opening itself up to bigger future financial and reputational damages. Shell said …

UK: Don’t Let Insurance Rules Spoil Royal Wedding Parties

British Prime Minister David Cameron has urged local authorities not to use bureaucratic rules to prevent street parties celebrating the April 29 royal wedding. Cameron said civic councils should not block plans for parties by imposing rules requiring licenses, insurance …