U.K. News
MasterCard Hit by U.K. Class Action Suit Over Processing Fees
Consumers in the U.K. are preparing a 19 billion-pound ($24.7 billion) class action lawsuit against MasterCard Inc., almost two years after a European Union court ruled the processing fees the ...
RSA Warns British Exit From EU Could Harm Its Business, Investment Returns
RSA chief Stephen Hester said a British exit from the European Union could have a negative impact on the insurer's business and investment returns, underscoring a warning from top executives about ...
Hiscox Unveils Cloud-Based E-Trading System in U.K.
After a successful pilot, Hiscox has launched Hiscox Trader, a new cloud-based e-trading system for U.K. commercial insurance brokers. The new technology, developed with insurance technology ...
U.K. Storm Claim Tally Could Hit $2.2B: KPMG Estimate
U.K. insurers may face claims totaling as much as 1.5 billion pounds ($2.2 billion) from businesses and homeowners for damage caused by two storms this month, according to consultant KPMG LLP. Heavy ...
Zurich to Slash 440 Jobs at U.K. General Insurance Unit
Zurich Insurance Group AG plans to cut 440 jobs at its U.K. general-insurance unit as part of a cost- cutting program. Zurich is also seeking to simplify its organizational structure, the company ...
Insurance Execs May Also Face U.K. ‘Duty of Responsibility’ Bank Rules
Executives at UK insurers, mortgage brokers and payday-loan companies will be covered by the same "duty of responsibility" as those in banks under legislation introduced in Parliament Thursday. The ...
ACE Rolls Out Streamlined Coverage For Companies in the U.K. and Ireland
ACE Group is now selling a comprehensive single property and liability package insurance policy for companies doing business in the U.K. and Ireland. The insurer also promises the product will be ...
U.K. Auto Insurer Hastings Eyes Potential IPO After Triumphant 2014
Hastings Insurance Group increased its customer base by 20 percent in 2014, boosting profitability and setting the U.K. car insurer on track for a potential initial public offering this year. ...