OFT report - ABI calls for action on legal costs
The Association of British Insurers has welcomed the Office of Fair Trading's recognition of the insurance industry's efforts in its reveiw into the competitiveness of the liability insurance market but called for moves to reduce the level of legal and other transactional costs. It also welcomed the call to address ATE issues.
Nick Starling, ABI director of general insurance said in a statement: "We are pleased that the OFT has recognised steps the industry is taking to help stabilise the liability markets."However, toOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Aviva and Butlin's clash over definition of storm in lawsuit
Holiday resort operator Butlin’s is suing a group of insurers led by Aviva after it was told that it would be indemnified for less than half of the sum it claimed following damage at one of its resorts last year.
Toilet fraudster’s claim hits the fan
A claimant, who attempted to claim for £200,000 after slipping in a restaurant toilet, is now facing the prospect of having to repay at least £40,000 in legal fees after being found to be fundamentally dishonest.
60 Seconds With... Optalitix’s Dani Katz
Dani Katz, founding director of Optalitix, would like to be the Caped Crusader, keeps on running, and recalls launching Vitality.
Is the home insurance market set for a reckoning?
Editor’s View: Emma Ann Hughes warns home insurers to brace themselves to be the next target of policyholders’ wrath as moaning motorists are replaced by angry-looking property owners on national newspapers’ personal finance pages.
Axa reveals how AI is transforming the business
Axa UK & Ireland has 12 “between proof of concept and proof of value” artificial intelligence initiatives currently ongoing across the business, according to CEO Tara Foley.
Could the FCA follow the Australian regulator’s claims lead?
After Australia’s financial regulator sent a letter to the country’s general insurance firms asking for improvement in claim handling practices, Vitesse’s CEO Philip McGriskin asks could the Financial Conduct Authority take a similar approach.
How insurance supports the growth of Glasgow
Analysis: Frances Stebbing investigates how insurance supports the growth of Glasgow and how the city is gaining ground against London for attracting and retaining fresh talent.
Claims service is improving after some dark days
Data analysis: Claims service improved in the first quarter of 2024, although inconsistencies remain within the UK market, research conducted by Gracechurch has revealed.