MoJ to split referral ban enforcement role - Insurance News Now
Author: Tracey Jones
Source:
Post |
14 Sep 2011 | 
Categories: Insurer | Broker | Commercial | Personal | Claims | Reinsurance | Lloyd's/London | Regulation
Tags: Insurance news now | Post watch | Moj | Loss adjusting | Zurich | Fraud | Mga | Towergate
Post senior reporter Amy Ellis outlines this week's major general insurance stories including confirmation from the Ministry of Justice that the government’s proposed ban on referral fees is unlikely to be centrally administered, and instead enforced by a collection of disparate regulatory authorities.
The MoJ would not commit to a timescale for when the ban would come into effect, but a spokeswoman confirmed it is considering the most appropriate way for the ban to be implemented.
In other news, a loss adjuster has been sentenced to a year in prison for theft and deception owing insurer Zurich up to £18 500; insurers have vowed to pay claims to customers whose properties are invaded by squatters, as long as they inform them if their home will be empty for long periods of time; and MGAs will have to provide insurers with more detailed data in order to drive down the costs of implementing Solvency II, according to Michael Muzio, underwriting and claims director at Towergate.
Keep up to date with all the latest news as it breaks at www.postonline.co.uk.
Tags: Insurance news now | Post watch | Moj | Loss adjusting | Zurich | Fraud | Mga | Towergate
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