European Union officials have entertained the idea of a two-year delay in the implementation of strict new capital rules for the bloc's insurers, an internal document shows.

European Union officials have entertained the idea of a two-year delay in the implementation of strict new capital rules for the bloc's insurers, an internal document shows.

A dramatic fall in pirate attacks off the Somali coast is forcing down the cost of piracy insurance for commercial ships, taking the shine off a fast-growing and lucrative market for London-based insurers.

Some of the world's largest insurers for corporate directors and officers could be on the hook for hundreds of millions of dollars in claims over the next few years to cover legal costs for people caught up in the Libor scandal.

Some of the world's largest insurers for corporate directors and officers could be on the hook for hundreds of millions of dollars in claims over the next few years to cover legal costs for people caught up in the Libor scandal.

Strict new capital rules for European Union insurers could be delayed after talks aimed at ironing out disagreements over the final shape of the so-called Solvency II regime ended fruitlessly, Britain's insurance industry lobby said.

British insurers face big claims for flooding after the heavy rainfalls across the country this month, making it harder for them to hit profit targets and potentially forcing them to raise premium rates for consumers, analysts said on Tuesday.

The decision by trade insurers this week to stop covering exporters shipping to Greece could have "alarming" consequences, exacerbating shortages and pushing up prices for consumers, the country's retail federation said on Friday.