News in brief
Art collectors look east
Experts have been pointing to Russian art and antiques as one of the hottest markets for 2007. They may be on to something: a sale of Russian art at Christie’s in November saw Konstantin Somov’s 1922 Pastorale Russe (below) fetch ten times its guide price, selling for £2.7 million. One reason for this surge in popularity is that a growing number of wealthy Russian émigrés are looking to repatriate their country’s art.
Most SMEs unprepared for disaster
Recent research from the British Insurance Brokers’ Association found that nearly 75 per cent of SMEs had no strategy for dealing with a terrorist attack, and less than half were prepared for fire or flood. With government figures showing that nearly one in five businesses suffer a major disruption every year – 80 per cent of which are forced to close down within 18 months as a result – BIBA is strongly urging firms to look at their continuity plan.
Please welcome Lisa Matthews
Lisa Matthews recently joined Hiscox’s UK Retail Professional Services team to build the complementary medicine book. She has worked in the general liability market for more than 20 years, joining Hiscox from insurer Marketform. She says: “I’m looking forward to the challenges involved in bringing this new class of business to Hiscox and building the account.”
FSA chief on his way out
John Tiner, CEO of the Financial Services Authority, is to leave his post in July. After six years at the FSA, four of them in his current position, he plans to join the private sector.