London

Article Abstract:

The major development in the insurance industry in London, England, is the failure of Trinity Insurance. The firm's general manager attributes the failure to poor underwriting results, lack of investment and high expense ratios. Most industry experts are not surprised that the company failed, but many brokers still included the firm on their approved lists of securities. Commercial Union reports pre-tax loses of 68.6 million pounds sterling for 1991, partly as a result of an increase in theft claims.

London, England

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Managing legal costs

Article Abstract:

Property and casualty insurance companies are instituting several strategies to control legal expenses, which cost nearly $13 billion in 1991. Some insurers, for instance, emphasize customer service and risk management to prevent liability suits. Claim departments can also control legal costs by employing people with experience in litigation management and claims handling cases. Insurers can also institute quality control measures designed to eliminate and control litigation.

Management, Costs (Law), Legal fees

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London

Article Abstract:

Many British insurance companies laid off workers in 1991, due to poor financial results. Reinsurance firms were particularly troubled, with almost all major London-based companies reducing staff. Prominent among the newly-unemployed was Michael Butt, former CEO of Eagle Star Insurance Company Ltd, who resigned after Eagle Star announced plans to lay off 1,000 workers and close 48 branches. Other various news about the British insurance industry is presented.

United Kingdom, Officials and employees, Human resource management, Insurance industry, Appointments, resignations and dismissals, Layoffs, Great Britain, Butt, Michael, Eagle Star Insurance Company Ltd.

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