A new range of insurance has been introduced by Direct Line catering for the needs of small hotel owners having 12 rooms or less.
The Direct Line insurance cover offers both public and product liability up to GBP2 million as well as loss of income protection up to GBP500,000. Policies can also be tailored to incorporate add ons specific to individual needs, typical examples being loss of licence or personal accident.
A spokesperson from Direct Line commented that this new insurance cover would be perfect for smaller operations, enabling them to enjoy all the benefits offered by an insurance company the size of Direct Line with the tailored fit provided by the policy itself.
Zurich Insurance has named Theo Bouts the new Chief Operating Officer of Global Life, an arm of the Zurich group.
Mr Bouts is currently the CEO of the Zurich Insurance unit dealing with direct European business and partnerships, a role he will give up on 1 August to take up his new position. Having been with Zurich for only three years Mr Bouts has already taken a couple of key roles within the organisation, being seen as a key player in senior management.
His existing role is seen as critical to maintaining and developing a strong multi channel distribution policy, something Zurich Insurance do not want to lose. For this reason Mr Bouts will take a little time to fully hand over the reins of his existing role until a suitable successor is found.
The Prudential has named its new chairman as Harvey McGrath, previously the chairman at leading hedge fund company Man Group. Mr McGrath retired from that position late last year but has clearly felt the need to return back into the financial services sector with this new appointment.
The role will be a non-executive one for which he will receive a fee of GBP500,000 annually. Mr McGrath felt that the Prudential combined a very strong history with an exciting future and as such seemed the perfect choice for him. He also meets the requirements of investors who wanted to see a chairman who was based in the UK but also brought experience of the international arena.
Mr McGrath has plenty of experience to draw upon and is looking forward to the challenge, with lots of background and hands on knowledge of many things the Prudential are currently dealing with.
