Post - 2011-03-17

Biba stands firm on call for FSCS funding changes

The British Insurance Brokers' Association has reiterated its call for a change to the Financial Services Compensation Scheme funding rules before April 2012, after an MP warned the final figure for payment protection insurance mis-selling compensation…

Editor's comment: Out of step with reality?

Just before the devastating events began to unfold in Japan last week, the UK insurance market found itself vexed by the Transport Select Committee's report into the rising cost of motor insurance.

Court dismisses Towergate application

A high court judge has dismissed an application from Towergate Underwriting for a pre-action disclosure against Lorica Insurance Brokers and ordered it to pay costs amounting to £17 000.

Co-op targets young drivers with telematics

Co-operative Insurance has launched a telematics-based motor policy aimed at reducing young driver premiums in the wake of the European Court of Justice ruling, which outlawed gender as a rating factor.

Axa prepares to scrutinise customer claim behaviour

Axa is looking into using the Claims and Underwriting Exchange to check prospective household customers' claims experience before it quotes for business, as part of its plan to manage claims costs within this portfolio.

Penny Black's insurance week

Allianz almost shot itself in the foot last week when it encouraged management trainee Stephanie Ogden to take part in a TV debate in which she passionately defended the university degree system.

Postbox: Time to revisit underwriting essentials

I have worked in underwriting for more than 20 years and, while technology has massively increased the array of tools we have available to underwrite risk, it's frightening to realise how few improvements have been made to the professionalism of our…

Councils face prospect of speculative asbestos claims

A local authority has failed in its bid to secure clarity over what constitutes a 'material increase' in risk where a mesothelioma claimant's exposure to asbestos is relatively low, arguably leaving councils vulnerable to higher numbers of speculative…

Risk report attacks industry failures

The insurance industry's failure to make significant changes to the "deficient" commercial lines sector has been "wholly unacceptable", according to research firm Mactavish.