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Accident Exchange scores spot rate court win

December 1st, 2011

Case centres on allegations of fraudulent spot rate setting

Accident Exchange has won the latest stage in its long-running legal battle with defunct rate-setting company Autofocus over allegations that it manipulated credit hire spot rate data.

Lord Justice Aiken ruled in the Court of Appeal yesterday that the accident management company could appeal on four cases, in which it alleges that Autofocus provided evidence on credit hire spot rates that was incorrect and potentially fraudulent.

Autofocus supplied a number of motor insurers with reports on credit hire rates until it went into administration last year.

The cases in question are William Craig Thomson v S Landsdowne; Sharon Seatroy v D Oliver; Glen Sharples v Peter Brown and Puru Shothaman v Isran Malik.

In all four cases, which were heard yesterday, Aiken ruled that there was sufficient merit for Accident Exchange to appeal.

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Tags: Accident Exchange, Rate, Spot Rate

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Choosing Health Insurance

November 23rd, 2011

With so many dissimilar kinds of health insurance plans and restrictions on the market, it may be troublesome locating the perfect insurance for you. Nonetheless, this process isnt despairing to be successful with a tiny research. There are a small proportion parts to facade for after deciding on health that prepares, and by account for them all youll be able to generate a very good decision for yourself and your loved ones come seal health insurance.

The bulk noteworthy thing to facade for is coverage. Extra repeatedly than not, insurance coverage will bind physician visits and fees. Your insurance coverage ought also bind hospital bills reminiscent of room and board in masking you might be saved overnight or longer for commentary or treatment.

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Tags: Health Insurance, Insurance

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Govt to relax equity dilution norms for insurance firms

November 18th, 2011

The government is likely to soon relax the norms for dilution of stake by Indian promoters of insurance companies, a move that will pave the way for Reliance Life to sell a 26 per cent stake to Nippon of Japan.

“We will soon issue a circular which will enable insurance firms to dilute promoters’ stake though permissible means before 10 years of operations,” official sources said.

The proposed order will help remove the ambiguity of Section 6AA of the Insurance Act.

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Tags: Insurance, Insurance Firms

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Barclays signs major agreements with Aviva and Legal & General

November 9th, 2011

Barclays has today signed arrangements with Aviva and Legal & General to provide innovative industry-leading life and general insurance products for its UK Retail customers. These new arrangements will deliver improved choice and accessibility, as well aspetitively priced products to new and existing customers.

Aviva will provide life assurance and personal accident products on a non-advised basis. Barclays customers will be able to choose life assurance, over 50s life assurance and personal accident insurance through the banks branch network, online or over the telephone.

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Tags: General

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Insurance industry to G20 leaders: Traditional insurance business does not pose a systemic risk

November 1st, 2011

Starting yesterday and continuing on today, G-20 leaders are meeting at an economic summit in Cannes, France to discuss, plan and monitor international economic cooperation. Twenty-four hours of talks with the G20 leaders are meant to find a way to stabilize the global economy and avoid another world recession.

The International Network of Insurance Associations (INIA), representing nearly 80 percent of the world’s insurance business and including the Insurance Bureau of Canada (IBC), has issued an open letter to French President Nicolas Sarkozy in regards to the regulatory changes being considered for the insurance industry. T

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Tags: Leaders, Leaders Traditional

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