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Aon Consulting, the global human capital consulting organization of Aon Corporation, today announced that Andy Hiles has joined Aon Consulting as senior vice president and Large Market Growth and Innovation Leader for the U.S. Health & Benefits Practice.

Hiles brings more than 20 years of experience in market leadership and consulting with large organizations in the development of health care, benefit and total reward strategies. In his new role, he will drive the go-to-market strategy, sales, product development, service innovation and branding for large market clients.

Prior to joining Aon, Hiles was a principal and national strategy resource for Hewitt’s consulting division. Employed with Hewitt since 1993, Hiles also served as the Atlanta Market Manager and Southeast Market Group Leader. He led strategy and design projects at many Fortune 500 companies, not-for-profit organizations and governmental entities. Hiles is a frequent speaker at industry events and has published numerous articles on health care, benefits and reward program strategies.

John Zern, U.S. Health & Benefits Practice Director with Aon Consulting said:”Andy is a nationally recognized innovator, strategist and author in the areas of health care, overall benefits and total rewards,”. “His wealth of experience and leadership will continue to build our firm’s extensive intellectual capital and will strengthen and expand our capabilities in serving large market clients.”

Hiles is a Fellow of the Society of Actuaries and member of the American Academy of Actuaries. He earned a Bachelor of Arts in economics from the University of North Carolina at Greensboro.

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    Allianz Commercial has expanded its UK branch network with the opening of a new office in Bristol that will provide dedicated support to the 850,000 small business customers of Lloyds Banking Group.

    The new team based at the Bristol Insurance Centre has now started work on the renewal of the 17 Commercial and Engineering products available to Lloyds’ customers from November 1, 2009.

    The branch will be managed by Helen Bryant, a former member of the Allianz corporate management trainee programme, who will be responsible for leading the new team consisting of existing staff and new recruits.

    This development has also led to significant expansion of the Maidstone branch Small Business Team, now the central unit for open market SME business. So far, 116 jobs have been created within the division to ensure that Allianz Commercial continues to deliver operational excellence and technical expertise to the broker marketplace.

    Commenting on the new centre, Helen Bryant said: “The ability to implement the developments required to service Lloyds’ customers so quickly represents how Allianz Commercial is delivering its capabilities and is testament to the professionalism of our people. The quality of our products and service, along with the financial strength of Allianz, make us a trusted partner.”

    David Martin, head of SME affinity and broker markets at Allianz Commercial, added: “These developments represent important steps in our long-term small business strategy and allow us to maintain our market-leading proposition across all distribution platforms. Our customers are at the heart of our business and we will continue to be responsive to their requirements.”

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    Delta Lloyd is this week introducing the Capital Pension Plan collective. With this new collective pension solution Delta Lloyd is taking on board the increasing demand from employers for economy and security.

    The Capital Pension Plan is a component of Delta Lloyd’s pension portfolio. Through its portfolio Delta Lloyd offers a variety of pension solutions that take on board the need of employers and employees: financial provision, security, affordability and flexible budgeting.

    The Capital Pension Plan collective is a premium agreement with a guaranteed capital payment upon retirement. The capital that is accrued during the period of employment is paid out if the person entitled to the pension is still living on the date of retirement. The pension overheads are manageable for the employer because there is associated financing on the basis of an available premium system. What is more, there is no investment risk and the employee enjoys the security of a guaranteed capital pay-out. The capital is used on the date of retirement to purchase an old-age and partner’s pension. Through this collective pension insurance Delta Lloyd is offering a guaranteed pension to suit your budget.

    Saving without investment risks

    The Delta Lloyd Capital Pension Plan collective takes on board the increasing demand for economy and security. With available premiums a businessman knows exactly what his costs are. And the employee has the security of a guaranteed payout, without the complexity involved in making a whole lot of choices. Delta Lloyd guarantees the accrued capital. The accrued capital is directly purchased and guaranteed on the stakeholder’s behalf. This way the investment risk is also completely cancelled out. Partner cover in the event of death and premium release in the event of not being able to work are insured concurrently on a mandatory basis.

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    Aon Benfield, the world’s premier reinsurance intermediary and capital advisor, today announces three new appointments to its growing Benelux division.

    Hans Groot has joined the team as Chief Operating Officer. Hans is based in Amsterdam and will be responsible for the operations and processes of the Benelux business and will join the Benelux management team. He will also take the role of senior account executive for certain Dutch clients.

    Hans has more than 20 years of insurance and reinsurance experience. He joins the team from loss adjuster Cunningham Lindsey, where he was CEO of its European operations. Prior to this, Hans spent most of his career with the Delta Lloyd Group, where he held a number of senior roles, including manager of Reinsurance and managing director of Delta Lloyd Non-Life, Ennia Caribe and Ohra.

    Two other key appointments have been made in the Benelux Analytics Team:

    Jürgen Wielandts will join the team on January 1. Jürgen has 15 years’ experience in the insurance industry, mainly at KBC but more recently with Fortis, developing the group’s non-life internal DFA model – using Aon Benfield’s own ReMetrica software. He holds a Masters in Mathematics and is a Fellow of the Belgian Association of Actuaries.

    Jürgen will be based in Brussels and will focus on advising Aon Benfield colleagues and clients across a variety of analytical topics, as well as further developing the Solvency II expertise within the EMEA Division Analytics team.

    Finallly, Milko Vinke has joined the team in the Amsterdam office. Milko has 20 years of insurance experience, having spent the first part of his career in life insurances with Delta Lloyd and as a non-life actuary with Winterthur Verzekeringen. Most recently he worked as a consultant at Towers Perrin Tillinghast. Milko is member of the Dutch Actuarial Association (Actuarieel Genootschap).

    Milko will be advising Aon Benfield colleagues and clients on a variety of analytical matters, including actuarial, catastrophe, rating, and capitalisation, as well as developing our Life, and Accident & Health expertise.

    Richard Dudley, CEO of Aon Benfield Benelux, said: “With Hans, Jürgen and Milko joining the Benelux team, we are further solidifying our position as the leading provider of reinsurance and analytics expertise in the region. As well as providing our clients with access to the risk transfer solutions that are most relevant to their individual requirements, we also assist them in optimising their business models through appropriate capital advice, from a ratings, regulatory and capitalisation perspective. The combination of these three experienced professionals will prove to be of great value to Aon Benfield. This is yet another very exciting development as we further strengthen and enhance our offering to clients in the Benelux region.”

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      The Met Office has issued a weather warning for Grampian, Northern Ireland and Central, Tayside & Fife

      Heavy rain is expected from 0543 Fri 23 Oct to 2359 Sat 24 Oct

      Local areas affected:

      Central, Tayside & Fife: Angus, Dundee – There is a moderate risk of further significant rainfall over parts of northeast Scotland on Saturday, with a potential for 30-60mm of rain during the afternoon. Falling on already saturated ground this could lead to flooding in places.

      Grampian: Aberdeen, Aberdeenshire – There is a moderate risk of further significant rainfall over parts of northeast Scotland on Saturday, with a potential for 30-60mm of rain during the afternoon. Falling on already saturated ground this could lead to flooding in places.

      The public are advised to take extra care and refer to the Highways Agency for further advice on traffic disruption on motorways and trunk roads.

      To take action to prevent or protect your home or business against potential flooding you can find all you need to know about flood and natural disaster insurance by clicking here

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      Swiss Re is very well positioned to enter this year’s renewal discussions in Baden-Baden. Swiss Re will use the week ahead to emphasise its strong offering to European clients, and to reinforce the company’s focus on a sustainable underwriting relationship with cedants.

      A strong appetite for high-quality business

      Swiss Re will have a strong presence at this year’s annual meeting of (re)insurers in Baden-Baden. Ahead of this Sunday’s official kick-off, Swiss Re will be holding a media teleconference this afternoon to share the company’s key renewal messages with journalists.

      Martin Albers, Executive Board Member and Swiss Re’s Head of Client Markets Europe will say: “We are looking for continuity, both in our relations with customers and in our disciplined approach to underwriting. In 2009 so far, conditions in the reinsurance market have continued to improve. We have a large appetite for risk and, if the price is right, we are fit and ready to provide our clients with the capacity they need. Our focus is on quality, not quantity.”

      Demand for reinsurance continues to climb in the difficult market environment. As a result of the financial crisis, non-life insurers have lost around 15% and 20% of their capital, and life companies between 30% and 40%. Interest rates remain low and the cost of capital remains high.

      Sound underwriting and client focus provides the basis for sustainable business relationships

      German Motor market

      Thomas Witting, Head of Client Markets for Germany and the Nordic and Baltic markets, will explain how Swiss Re is responding to the price war in the German Motor segment.

      “This misguided development has raged for many years in the German Motor market but the insurance industry has failed to counteract it.

      Swiss Re needs to take decisive action to ensure the price war does not have a long-term negative impact on the profitability of our proportional portfolio,” he will say.

      In response to this trend, Swiss Re will review Motor treaty conditions on a client-by-client basis and make amendments where necessary. “In these difficult times we are there for our clients and we will stand by those clients who offer profitable terms and conditions. We will become more selective in our underwriting, and are not prepared to participate in the erosion of Motor prices under our reinsurance treaties. We will find customized solutions together with each client – in the atmosphere of continuity and sustainability they have come to expect from Swiss Re,” he will state.

      Property Nat Cat In Europe

      Swiss Re will provide capacity for Nat Cat events (windstorms) in the European markets at appropriate prices.

      “Higher rates were already becoming apparent towards the end of the 2009 renewal season. These are long overdue and absolutely essential. We expect this trend to continue during the current renewals,” Thomas Witting will say.

      “Swiss Re will remain flexible in discussions with clients and we will try to find acceptable solutions that suit their needs. If extra capacity is needed for European windstorm cover, we will provide it at the right price,” he will add.

      Nat Cat pricing in Austria needs to be addressed; Central and Eastern Europe continues to offer good growth prospects

      Beat Strebel, Head of Client Markets for Austria, Central and Eastern Europe will reflect on the Nat Cat situation in Austria: “In Austria, Swiss Re needs to take action with respect to Nat Cat reinsurance treaties, which are calling out for change. Given the rising claims frequency and severity from major natural catastrophes over the last 10 years, the market needs to consider whether current (re)insurance structures and prices are adequate,” he will warn.

      For countries in Central and Eastern Europe, while the financial crisis has taken a particularly heavy toll, Swiss Re is upbeat about future prospects: “In these markets we anticipate seeing exceptionally promising business opportunities and growth potential in the long term,” he will add.

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      Willis Group Holdings, the global insurance broker, today announced that Pauline Margrett has been appointed Chief Operating Officer for its Global Captive Practice. Based in London, Margrett will report to Tom Coughlin, the Global Captive Practice leader.

      Over a 25-year career with Willis, Margrett has specialized in client advisory and operational roles in the captive and risk financing arena, most recently as Director of the International Captive Practice. Margrett’s appointment to the Willis Global Captive Practice underscores the broker’s intention to expand its captive risk management capabilities on a global scale.

      Commenting on Margrett’s appointment, Coughlin said, “Pauline has worked in the captive arena for many years and has a great understanding of the business. She has the knowledge and expertise to really drive improvements in operational efficiencies to support the strategic growth plan of the Global Captive Practice. We already have a deep talent pool in the business and it will be Pauline’s job to coordinate these resources and ensure they are channelled towards finding the best risk financing and captive solutions for our clients.”

      Willis’ Global Captive Practice provides consulting services to clients that help them decide on a risk financing strategy and determine whether a captive is a suitable vehicle to help manage their retained risk. The team also offers extensive global experience and capabilities to help clients set up and manage a captive, and achieve the optimal balance between risks they choose to transfer out of their business and those which they keep in-house.
      The Willis Global Captive Practice includes existing operations in Bermuda, Cayman, Ireland, Gibraltar, Guernsey, Hawaii, Isle of Man, Malta, New Zealand, Singapore and Vermont. The practice is currently the third-largest global captive manager in the industry.

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      Today Aviva Canada announced the launch of the Aviva Community Fund – a unique competition that will seek to lead, empower and support positive change in communities from St John’s, Newfoundland, to Victoria, British Columbia.

      Supported by a significant C$500,000 pledge from Aviva, the Aviva Community Fund provides a forum where individual Canadians can band together to really make a difference today.

      Running until 16 December 2009, the heart of the Aviva Community Fund is centred around an online portal – www.avivacommunityfund.org – where Canadians can submit ideas and vote for things that they would like to change at a local or national level; whether it be constructing a new playground in your neighbourhood, revitalizing a local community centre or providing much needed support to a national charity – the possibilities are endless. The most popular ideas, as chosen by Canadians, will be evaluated by a judging panel and upon culmination, C$500,000 (the fund) will be allocated to making the ideas come to life. The Aviva Community Fund winners will be announced on 25 January 2010.

      Bob Fitzgerald, executive vice president and chief marketing & underwriting officer at Aviva Canada. said: “Over the past two years, Aviva Canada has been on a mission to change insurance by demystifying our business. The launch of the Aviva Community Fund reinforces our commitment to leading positive change in both the insurance industry and in the communities where our customers, employees, brokers and partners live.”

      Taking the company’s commitment to change a step further, the Aviva Community Fund enables Canadians to support a cause and become active philanthropists in their own communities. With the fund website now live, the process for submitting ideas and leading positive change is very easy – entrants simply write a brief overview of their cause and identity whether theirs is a small idea (under C$10,000), a medium idea (C$10,000-C$50,000) or a big idea (C$50,000-C$250,000). After registering on www.avivacommunityfund.org, entrants are also encouraged to upload photos, images and unique video content to help describe their idea and attract voters to support their cause. The most popular entries will qualify for funding and Aviva will make sure the best ideas receive the financial and practical help they need to get off the ground.

      The Aviva Community Fund officially launched today in Toronto with the immediate donation of C$10,000 to build and stock a greenhouse at the George Harvey Collegiate Institute in Toronto, Ontario. The greenhouse will be used to grow vegetables year-round for the school’s Jump Start Breakfast Program, which provides a free nutritious breakfast and a warm atmosphere to its less privileged students. Having served over 70,000 breakfasts since its inception 10 years ago, George Harvey CI’s Jump Start program feeds approximately 75-100 people per day and is led by the school’s loyal staff and a team of students who volunteer their time – five days a week.

      Community leaders across Canada are encouraged to visit Facebook, YouTube, Twitter and Vimeo for more information as well as www.avivacommunityfund.org to submit their ideas and cast their votes. Idea submissions will be accepted until 29 November 2009, and semi-finalist causes will be announced in mid-December.

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      Karamjit Singh CBE has today been appointed Social Fund Commissioner for Great Britain by Parliamentary Under Secretary for the Department for Work and Pensions Helen Goodman MP.

      Helen Goodman MP said: “I’m pleased to announce that Karamjit Singh has been appointed Social Fund Commissioner. This important role serves as an independent voice on the Social Fund and Karamjit’s previous work in the public and voluntary sectors will bring a wealth of experience to the role.”

      Karamjit Singh CBE said: “I look forward to taking up this role which aims to ensure timely, fair, and consistent decisions in the independent review of discretionary welfare benefits for those in most need.”

      Mr Singh will be taking up the three year post from 1 December 2009 and will be stepping down from his current roles as Chairman of an NHS Trust in the West Midlands and as a Commissioner with the Electoral Commission. He will continue with his role as the Northern Ireland Judicial Appointments Ombudsman.

      The Social Fund Commissioner is responsible for appointing Social Fund inspectors, monitoring the quality of the inspectors’ decisions, considering complaints from members of the public, taking a strategic overview of how the independent review scheme operates and producing an annual report for the Secretary of State for Work and Pensions.

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      “Crash for cash” scammers earn an average of £16,000 per “accident”, according to the body set up to combat this type of fraud.

      Richard Davies, deputy chairman of The Insurance Fraud Bureau (IFB), estimates that the fraudulent “crash for cash” claims submitted amount to £350 million a year.

      He said: “Crash for cash is an exceedingly common problem. Back in 2006 it was worth around £200 million a year.

      “You can make serious money from this. You can make an average of £16,000 per accident on this scam.”

      Mr Davies said that typically, the staged accident involved a low speed collision and the “victim” who has been shunted claims for personal injury, vehicle damage and replacement vehicle hire.

      He said: “The crash may have involved a car with just one person in but by the time the claim is put in the number of passengers jumps.”

      Claimants often use the services of an accident management company (AMC).

      Mr Davies said that some AMCs provide a complete service to the claimant, from arranging their car hire – the cost of which often exceeds the value of their own car – to coaching them in what to say to a doctor.

      He said: “We often find that the car hire company is related in some way to the accident management company. There’s a gap that needs to be examined.”

      Mr Davies said that insurance fraud costs consumers around £44 on their car insurance premiums every year. He said: “Crash for cash was first seen in the North West in 2001-02. It’s still the case that the North West of England is a hotspot. Since then it’s spread across the country.”

      The top 10 hotspots for crash for cash fraud include Bradford in first place and Luton in last place. Blackburn, Oldham and Bolton are all in the top 10.

      Mr Davies said: “It’s a pretty big problem, it’s the reason why the bureau was set up.”

      The IFB has a database containing 250 million records which help them to analyse claims and pinpoint fraudulent activity. It is currently involved in 28 suspected crash for cash scams across 13 police forces, according to Mr Davies.

      He said: “We want to ensure members of the public understand the impact of the crash for cash.”

      Steve Chelton, Insurer Development Manager, for Swinton, the UK’s leading high street retailer of car insurance, said      : “These staged car crashes are on the rise and not only do they cost the industry thousands of pounds and cause premiums to rise, more they also put innocent lives at risk.

      “We estimate that these cash for crash scams cost the insurance industry over £200 million a year, and it is British motorists who are feeling the consequences with skyrocketing motor insurance premiums.”

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      The Met Office has issued a weather warning for : Wales and Northern Ireland.

      Heavy rain is expected from 1030 Thu 22 Oct to 1500 Thu 22 Oct

      Local areas affected:

      Northern Ireland: Co Fermanagh: Outbreaks of heavy will continue through the morning and into the early afternoon. 3 hourly totals could reach 15mm. The public are advised to take extra care and refer to Traffic Watch (NI) for advice on road conditions and to the NI Rivers Agency for further advice on flooding. Office hours 0800 to 1700.

      Wales: Blaenau Gwent, Bridgend, Caerphilly, Cardiff, Merthyr Tydfil, Monmouthshire, Neath Port Talbot, Newport, Powys, Rhondda Cynon Taff, Torfaen, Vale of Glamorgan: Frequent heavy showers are likely to produce accumulations of 20mm within 3 hours at some locations giving rise to large amounts of surface water. The public are advised to take extra care and refer to Traffic Wales for further advice on road conditions.

      South West England: Bath + NE Somerset, Dorset, N Somerset, Somerset, Wiltshire: Frequent heavy showers are likely to produce accumulations of 15 to 20mm within 3 hours at some locations giving rise to large amounts of surface water.

      The public are advised to take extra care and refer to the Highways Agency for further advice on traffic disruption on motorways and trunk roads.

      To take action to prevent or protect your home or business against potential flooding you can find all you need to know about flood and natural disaster insurance by clicking here

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        Insurers have plans in place to ensure that customers remain insured and minimise delays and disruption, during the postal strike which starts tomorrow, 22 October, the ABI (Association of British Insurers) confirmed today. Anyone who is concerned about their insurance should contact their insurer for reassurance.

        Steps that insurers will be taking include:

        • Using email, telephone and fax wherever possible. This may include emailing renewal terms, and commencing cover for general insurance and life and pension policies online, by email or telephone. In the few instances when a written signature is required, this may be accepted by fax. Wherever possible, insurers will accept faxed copies of documents.
        • Encouraging customers to pay by credit or debit card, direct debit or online wherever possible, rather than sending cheques.
        • Using couriers or special deliveries where documents, such as motor insurance certificates and any claim payments, that cannot be made by bank transfer are required urgently.
        • Using bank transfer payments for paying claims, and any other payments, rather than posting cheques.
        • Bringing in extra staff, if needed, to deal with any increase in enquiries from customers.

        Customers should now:

        • Check the date when annually renewable policies, such as motor and household insurance, need to be renewed by. Insurers usually send out renewal terms around 21 days before the renewal date. If your policy is due for renewal shortly and these have not arrived, contact your insurer. It may be possible to send details electronically or by fax in good time for you to renew or arrange alternative cover.
        • Contact your insurer or insurance broker if you are urgently awaiting any documents or payments, to arrange delivery by alternative means.
        • Ensure that you do not drive uninsured. Postal disruption is no excuse for breaking the law by driving without motor insurance, and will not be accepted by the police.

        Road tax applications and renewals require proof that motor insurance is in place. The online service at www.taxdisc.direct.gov.uk automatically checks that you have motor insurance, without the need for customers to have the actual insurance certificate, so if possible people should use this method. Otherwise, check with the Post Office as to what they may accept as alternative proof of insurance. Insurers will usually be able to fax or email any alternative evidence that you may need.

        Source : Association of British Insurers

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        Prudential is studying a possible public offering in Hong Kong or Shanghai, becoming the latest multinational interested in listing in the fast-growing region, media reported on Thursday.

        Plans being considered could see the insurance giant raise up to several billion U.S. dollars in such an offering, Hong Kong’s Economic Journal reported, citing an unnamed source.

        It said the company was currently deciding where to list.

        Prudential’s new Chief Executive Tidjane Thiam discussed an Asia listing during a trip to Hong Kong this month, and has made some preliminary evaluations of Shanghai and Hong Kong, according to the report.

        Last month, the Financial Times, citing Thiam, reported that Prudential would look to Asia as a source of capital and could even seek to raise equity there.

        Following the success of a $750 million (451 million pound) hybrid capital raising in the region this year, Thiam told the FT he was positive over the prospect of further capital raising in Asia.

        Prudential’s reported interest follows U.S. gaming giant Wynn Resorts making a $1.6 billion Hong Kong IPO for its Asia assets, Wynn Macau (1128.HK), earlier this month. Rival Las Vegas Sands is in the midst of a similar offering.

        Banking giant HSBC, which traces its roots back to Hong Kong, has also expressed interest in listing Shanghai when China creates new rules to allow such listings, expected sometime next year.

        With Reuters

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        Max Capital Group today announced the appointment of Adam Mullan as Chief Executive Officer of Max at Lloyd’s Ltd., the Lloyd’s managing agent for Syndicates 1400, 2525 and 2526.

        W. Marston (Marty) Becker, Chairman and Chief Executive Officer of Max Capital Group Ltd., commented: “We are pleased that Adam has accepted the CEO role at Max at Lloyd’s. Adam has been a driving force at Max throughout most of the company’s ten-year history, and has built a reputation for both effective management and impressive business production. As we move to significantly build out our Lloyd’s operation, the importance of strong leadership cannot be overstated, and we believe that Adam has the expertise, experience and vitality to effectively develop this business for us.”

        Adam Mullan has been with Max since 2000, most recently serving as Managing Director of Max Re Europe and Executive Vice President and Group Chief Underwriting Officer for Property and Specialty Reinsurance. From 1997 to 2000, Adam was Director/Underwriting Manager of ACE European Markets Insurance Limited and ACE European Reinsurance Limited. Between 1992 and 1997, he served as Vice President of Marsh & McLennan Inc., and from 1987 to 1992 he was an Associate Director at Carpenter Bowring (London). Adam received his Bachelor in Business Studies (Hons.) from Trinity College, The University of Dublin.

        Rounding out the senior management team at Max at Lloyd’s will be Matthew Petzold, continuing as Underwriting Director, and Lance Gibbins, continuing as Finance Director. Iain Bremner, formerly Managing Director of Max at Lloyd’s, will be leaving Max to pursue other career opportunities.

        Adam Mullan’s appointment as CEO is subject to the approval of the UK Financial Services Authority.

        Operating from offices in Bermuda, Ireland, the USA and at Lloyd’s, Max Capital Group Ltd. is a global enterprise dedicated to providing diversified specialty insurance and reinsurance products to corporations, public entities, property and casualty insurers, and life and health insurers.

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        Ironshore announced today that it has gained approval to write direct and facultative property business on behalf of its Pembroke Lloyd’s Syndicate effective October 1, 2009.

        The team will underwrite a broad spectrum of property risks with a focus on international business.

        Rod Todd will be the Head of the Lloyd’s Property Operation and has extensive experience in the Lloyd’s Property marketplace. Before joining Ironshore Bermuda in 2007 as Senior Vice President and Property Underwriter, Rod worked at Talbot Underwriting Syndicate as a Joint Team Manager for Property Direct and Facultative. Prior to Talbot, he was a Managing Director and Underwriter at Faraday Syndicate, a wholly owned subsidiary of Gen Re (formerly DP Mann).

        Mark Wheeler, Pembroke’s Underwriting Director noted, “Expansion into the UK Property market provides Ironshore the ability to further our international reach and product offerings.”

        In addition, Ironshore is pleased to announce the promotion of Peter Coleman to Head of Bermuda Property. In this role Peter will provide strategic direction and oversight in the development of Ironshore’s Bermuda Property Operation. Peter joined Ironshore as a Senior Vice President and Property Underwriter at the inception of the Company in January 2007. Prior to Ironshore, he was a Principal of Integro London where he was responsible for marketing, design and structure of complex property programs in the London and European markets.

        Mitch Blaser, Ironshore’s Chief Operating Officer and Bermuda CEO said: “Peter has been a leader in growing the Bermuda operations to its current position,”. “In this expanded role, he will be responsible for strategically enhancing and differentiating the Bermuda Property Operations.”

        Ironshore Inc. announced today that it has gained approval to write direct and facultative property business on behalf of its
        Pembroke Lloyd’s Syndicate effective October 1, 2009. The team will underwrite a broad spectrum of property risks with a focus on international business.

        Rod Todd will be the Head of the Lloyd’s Property Operation and has extensive experience in the Lloyd’s Property marketplace. Before joining Ironshore Bermuda in 2007 as Senior Vice President and Property Underwriter, Rod worked at Talbot Underwriting Syndicate as a Joint Team Manager for Property Direct and Facultative.

        Prior to Talbot, he was a Managing Director and Underwriter at Faraday Syndicate, a wholly owned subsidiary of Gen Re (formerly DP Mann). Mark Wheeler, Pembroke’s Underwriting Director noted, “Expansion into the UK Property market provides Ironshore the ability to further our international reach and product offerings.”

        In addition, Ironshore is pleased to announce the promotion of Peter Coleman to Head of Bermuda Property. In this role Peter will provide strategic direction and oversight in the development of Ironshore’s Bermuda Property Operation. Peter joined Ironshore as a Senior Vice President and Property Underwriter at the inception of the Company in January 2007. Prior to Ironshore, he was a Principal of Integro London where he was responsible for marketing, design and structure of complex property programs in the London and European markets.

        “Peter has been a leader in growing the Bermuda operations to its current position,” said Mitch Blaser, Ironshore’s Chief Operating Officer and Bermuda CEO. “In this expanded role, he will be responsible for strategically enhancing and differentiating the Bermuda Property Operations.”

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        Tata AIG Life Insurance Company, on Wednesday announced the appointment of Mr Saravana Kumar Ananthan as Chief Investment Officer (CIO) of the company.

        Prior to joining Tata AIG Life, Ananthan was with ICICI Bank where he was Co-Head of Trading Book (Portfolio Management) for India-linked investments. He was also the head of the international banking groups Global Credit Trading department.

        As Chief Investment Officer, Ananthan will be responsible for managing the overall investment assets of Tata AIG Life, including balance-sheet assets and assets under the unit linked business, a press release issued here stated.

        Mr Ananthan brings with him over 17-years of experience and prior to working at ICICI Bank, he had stints with SBI Asset Management Company, Unit Trust of India and Bharat Electronics. – PTI

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          A British man who staged car crashes for money, helping fraudsters claim 1.6 million pounds (2.7 million dollars, 1.8 million euros) from insurance firms, was jailed Wednesday for four and a half years.

          Mohammed Patel, 24, charged people 500 pounds a time to set up crashes enabling them to claim an average of 17,000 pounds each, a court heard.

          He staged at least 93 accidents with clients’ cars by slamming on his brakes so drivers behind him would plough into his vehicle, the court heard.

          He would then take details enabling his clients to claim on their insurance.

          “The wickedness of these staged accidents is that you gave no thought to the victim,” judge Bernard Lever told the court in Manchester, northwest England.

          “The victim may have been an elderly person, a person with a heart condition, a person of a nervous disposition.”

          Patel, who earned 46,000 pounds from the scam between May 2005 and August 2008, was also banned from driving for three and a half years.

          He was caught after workers saw him stage two crashes on the roundabout outside their office.

          Richard Davies, deputy chairman of the Insurance Fraud Bureau (IFB), welcomed the sentence as a deterrent, saying his office was investigating 28 similar suspected operations around Britain.

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          The National Health Insurance Company, Daman, the leading health insurance company in the United Arab Emirates, and Munich Re, one of the leading reinsurers worldwide, have extended their strategic alliance and partnership.

          The initial five-year agreement between both firms was signed in 2005 when Daman was set up. Due to the successful and profitable business development, both companies have agreed to extend the agreement to 2019. Daman, which is jointly owned by the government of Abu Dhabi (80%) and Munich Re (20%), started operations in 2006. Since then, Daman has captured an 80% share in Abu Dhabi’s health insurance market.

          The official signing took place in the presence of H.E. Dr. Ahmed Mubarak Al Mazrouei, Chairman of the Health Authority – Abu Dhabi and Dr. Nikolaus von Bomhard, CEO of Munich Re.

          H.E. Khaled Abdulla Al Qubaisi, Chairman of Daman, commented: “This strong collaboration has helped Daman to fulfil its role within Abu Dhabi’s healthcare system in line with the expectations of the government of Abu Dhabi.”

          Dr. Wolfgang Strassl, CEO of Munich Health, the third business field of Munich Re: “Our cooperation with Daman is an outstanding example of the success of our strategy in international health business. Together with Daman, we will be looking at new opportunities to build on the success of this cooperation.”

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          Partnership, trust and relationships remain top of the list of core values for Travelers Insurance Company’s Top Brass brokers as the exclusive club is relaunched with new benefits, as part of Travelers’ commitment to continually review and improve its value proposition to its brokers.

          The annual Top Brass executive forum saw the announcement of several significant new additions for the elite club, including the appointment of a dedicated claims manager. With overall responsibility for all claims from the brokers in the group, the dedicated claims manager will make regular visits to each broker to proactively review all existing and recently settled cases.

          In addition, brokers will now be able to enjoy access to a consultancy fund to help with business growth, a buying group facility and improved service standards. A new logo for Top Brass was also unveiled.

          Andy Clements, Assistant General Manager, key broker distribution for Travelers Insurance Company said: “It is great to see independent brokers succeeding even in this tough economic climate, and our Top Brass approach conveys our continued commitment to this channel. The new benefits introduced this year are based on direct feedback from Top Brass members, and the focus is very much about providing tangible benefits that will help us grow their business and ours.

          Our Top Brass partners have a real sense of ownership of the programme, and the value it delivers is unique in that it has been designed for them by them.”

          Mr Clements added, “The addition of a dedicated claims resource was very warmly welcomed, along with the other new elements, but, despite all the enhancements, we are thrilled to hear it is the extraordinary level of mutual trust and partnership we share that is most valued. It is this which enables members to have significant influence over our approach and generates a mutually profitable venture.”

          The Top Brass concept was introduced by Travelers Insurance Company in 1993 to provide outstanding benefits to a select number of brokers.  Membership is based on the quality of the working relationship between the broker and Travelers rather than just premium income levels.

          Top Brass members elect their own broker chairperson and have quarterly review meetings with Travelers’ management. It is based on a shared understanding that closer co-operation is good for the broker, their client and the insurer.

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          Munich Re, industrial insurance broker Marsh and photovoltaic producer Signet Solar have jointly launched a new insurance solution to cover the possible risk of performance deterioration in photovoltaic modules.

          Most manufacturers of solar modules guarantee the minimum performance of their modules for 20 to 25 years. Under accounting law, they are obliged to set up reserves for the expected volume of claims under the performance warranties. The result is that the capital tied up in the reserves is no longer available for investment.

          However, Munich Re’s experience and calculations show that reserves mostly cover only some of the liabilities that arise in the event of a loss – serial losses often affect several production years. A single serial loss could therefore be sufficient to threaten a module manufacturer’s existence and market position.

          The Munich Re Group is therefore taking a new approach: a so far unique insurance solution coordinated by experts in the Special Enterprise Risks Department covers the performance warranty of Signet Solar modules for 25 years. The warranty guarantees that the modules will perform to at least 90% capacity in the first ten years and to at least 80% in the remaining 15 years.

          Thomas Blunck, member of Munich Re’s Board of Management: “Measures to counter climate change – and in particular the specific expansion of new energy production technologies – also open up major business opportunities for insurers. Munich Re has devised special risk-transfer products especially for complex risks connected with renewable energies, including the performance guarantee cover, for which we were able to win Signet Solar as our first client.”

          The insurance solution provides the module manufacturer with fast liquidity in the event of any loss and stabilises its sales and yield planning. Other suppliers of solar modules should follow as policyholders, but before any cover is granted, they will – like Signet Solar – have to submit to several months of careful checking of their quality standards and production processes.

          Particularly in these turbulent times, the new insurance solution offers solar power plant operators greater flexibility and facilitates the financing of photovoltaic installations: a decisive competitive advantage in a dynamically growing market.

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