Insolvency
FSCS makes first compensation payments to clients of Lamp
Payments made to clients who had outstanding property damage claims at the time of the insurer’s collapse.
Lamp declared in default following insolvency
The FSCS is still in the process of identifying how many UK policyholders are affected by the failure of Lamp as Now4Cover seeks replacement provider.
Lamp enters liquidation following Supreme Court decision
The Official Receiver has appointed Grant Thornton's Gibraltar office to manage the liquidation.
Lamp’s proposed liquidation sparks debate on insurer stability and ratings
Members of the legal expenses market believe that brokers should look at more than just a firm’s rating when trying to find insurance, referencing location, stability and capital adequacy ratio.
Gibraltar insurer, Lamp, goes into liquidation amid insolvency
Liquidation application will be looked at in Court on 31 May as insolvent provider says it is still pursuing sale options.
RFIB unveils insolvency product for brokers
Product deals with capital reserves and managing run-off in event of insolvency.
Law firms scrambling for PI cover amid rate hikes
Scores of law firms are reportedly facing a battle to secure professional indemnity (PI) insurance cover in time for the 1 October renewal deadline, with rates up by some 40% compared to last year.
Marsh warns of "worrying trend" for unrated PI insurers
Marsh has cautioned that the presence of unrated insurers in the small and medium-sized professional indemnity (PI) space is a "worrying trend".
Insurance failures fall by more than a third
Insurance insolvencies fell by more than a third during June 2013 compared to the previous month, a report has found.
Liquidation-threatened Balva third biggest UK PI provider
Liquidation-threatened Balva was the UK's third biggest professional indemnity (PI) insurer during 2012/13 with a 9% market share, the Law Insurer's Guide has revealed.
Insurance insolvencies doubled in May
Insurance failures doubled during May 2013, compared to the same month a year ago, a report has found.
Unrated Latvian insurer Balva faces liquidation
Unrated Latvian insurer Balva, which is believed to provide professional indemnity (PI) insurance to 1,300 UK firms, has had its operating licenses withdrawn in a bid to protect customers.
Insurance insolvencies continue to fall
Insurance insolvencies continued to drop as the number of failures fell by 63% during March 2013, compared to the same month in 2012, a study has found.
Former comparison site director slapped with eight-year ban
A director of motorbike insurance comparison website Bike Insurer Services Ltd has been disqualified for eight years.
Insurance failures fall 63% during February
The number of insurance failures fell by 63% for February 2013 compared to the same month in 2012, a study by Experian has found.
Insurance insolvencies remain in single figures
Research from Experian has revealed there were nine company insolvencies in the insurance sector in January 2013.
Morgans Insurance Broking collapses into administration
A London insurance broker has collapsed into administration, Insurance Age can reveal.
Reasons to be cheerful
January is over! That’s the number one reason to be cheerful today, and I’ve actually managed to find some more – and they’re insurance-related. Will wonders never cease?
More than 100 insurance failures during 2012
More than 100 insurance businesses went bust during 2012, a study has revealed.
Insurance insolvencies tumble
The latest BusinessIQ Insolvency Index has revealed a dramatic drop in insurance related insolvencies, with eight businesses failing in October 2012, a 68% fall on the same month in 2011.
Insurance insolvencies up in September
Insolvencies in the insurance sector rose 15.4% in September compared with the same month in 2011, according to research by Experian.
Insurance sector sees rise in insolvencies
Research from Experian has revealed that there were 17 insurance-related insolvencies in August 2012, an increase of 30.8% on August 2011.
Insurance insolvencies drop by 85%
The number of insurance companies going bust plummeted by 86.1% last month, compared to July 2011, according to statistics published today by Experian.
Time for some divination
Open your hands and lift your palms up to the light...