16 September 2015
Insurance premium tax will rise this November from 6 per cent to 9.5 per cent - what does it mean for you?
First, the Insurance Premium Tax (IPT) is an industry wide issue. It will affect all insurers in the same manner. This new rise will come into force from 1st November 2015, following the UK Government’s announcement in the recent Budget. While the UK is still amongst the lowest IPT rates in the EU the rate can reach 22 per cent in some European Union countries and we want you to be prepared for this change.Read more...
14 September 2015
An intrepid driving team from Arthur J. Gallagher's joint venture partner Capsicum Re has successfully arrived in Monte Carlo - after a 1000-mile dash in a retro Citroen 2CV, undertaken to raise £250,000 for Great Ormond Street Hospital.Read more...
10 September 2015
IMI Pro enables mitigation action to be taken immediately with no sub-limit on associated cost coverRead more...
9 September 2015
Welcome to the September 2015 edition of the Arthur J. Gallagher Financial Institutions Risk Bulletin.
Hackers at the gate: protection against computer crime
The risk to financial institutions posed by computer crime has increased exponentially in the last decade and there have been numerous instances of high value computer crimes of staggering ingenuity and scale.
In this edition we discuss cyber fraud and the implications to computer crime insurance coverage.Read more...
2 September 2015
A recent article in the Financial Times (26th August - Funds scramble to assess computer glitch) has documented the problems experienced by one of the largest custodian banks as the result of a computer glitch.Read more...
In short, it appears that the computer systems used by the bank to calculate the Net Asset Values (NAVs) of its fund clients has suffered problems following a failed software upgrade by one of its suppliers. This may have led to investors buying or selling funds at inaccurate prices and the funds in question being unable to disseminate accurate price information.