London News

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Livestock Mortality Insurance Market Detail: Chopra Insurance Brokerage Inc. offers an “all risks of mortality” …

Kyoto Climate Pact Risks Dying, as No New Agreement is in Sight

Efforts to extend the Kyoto climate pact framework risk collapse in a setback to years of diplomatic bargains, as chances fade that the United States will join other rich nations in capping emissions. December’s U.N. climate conference in Denmark failed …

UN Climate Chief to Quit in July

U.N. climate chief Yvo de Boer said on Thursday he will step down in July to join a consultancy group, two months after a Copenhagen summit failed to support a legally binding climate pact. His departure is unlikely to dent …

AJ Gallagher Buys Brazil Facultative Reinsurance Broker

Arthur J. Gallagher & Co. has acquired Securitas Re of Sao Paulo, Brazil from Estater Gestao de Investimentos Ltda. Terms of the transaction were not disclosed. It will trade internationally as Gallagher Brazil, as a licensed facultative reinsurance broker, and …

Lockton Expert Analyzes Product Contamination, Recall Insurance Market

The specialist market for insurance covering product recall and product contamination is resilient and stable, according to Ian Harrison, an expert in the field, in a new report – “Supply and Demand Growing for Product Recall Insurance – from Lockton. …

Large Brokers Freed to Go After Contingent Commissions But Will They?

The nation’s largest insurance brokers have received the go-ahead to begin accepting contingent commissions again — but two of them say they won’t do it. Officials in New York, Illinois and Connecticut have agreed to amend agreements under which the …

18 Die in Head-on Belgian Rail Crash; 150 Injured

Two commuter trains collided head-on near Brussels yesterday morning, killing 18 people, and injuring another 150, 55 seriously. The crash occurred during the morning rush hour with more than 300 people aboard the trains. Rescue efforts were hampered by freezing …

Catlin Opens Office in Melbourne

Catlin Group Limited has expanded its Australian operations with the opening of a second office in Melbourne in addition to the head office in Sydney. Catlin appointed Rory Morison to head the new operation He has relocated to Melbourne from …

Willis CEO Plumeri Reiterates Broker’s Contingent Commissions Rejection

Willis Group Holdings Chairman and CEO Joe Plumeri, speaking to a meeting of insurance executives at Willis’ London headquarters, reiterated the broker’s long standing position that it would not accept contingent commissions. Plumeri explained that disclosure of broker and agent …

Lloyd’s Analyzes Lurking Danger of Active Volcanoes

An article on the Lloyd’s web site (www.lloyds.com) points out that there are “around 1,500 active volcanoes in the world and, although deadly eruptions are rare, they can cause devastation to people and property over a wide area, leaving huge …