Insurance Post

Post magazine – 20 February 2014

Post magazine - 20 February 2014

The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS App Edition on the App Store or read the Post Digital Edition online.

In this week's edition Justice Secretary Chris Grayling is facing mounting political pressure to investigate loopholes in the referral fee ban, despite the argument from some claimant lawyers that acting against the spirit of the law does not contravene the ban.

Speaking in a panel discussion at Post's Motor Claims 2014 event last week, former Home Secretary Jack Straw called for regulators to scrutinise the legal interpretation to see whether certain models that circumvent the ban are fully compliant.

In other news, compliance experts have reported a dramatic rise in requests to examine brokers' internal systems, amid suggestions Homerserve's record-breaking mis-selling fine is merely the tip of the iceberg; industry peers have snubbed a proposal by Aviva UK & Ireland general insurance chief executive Maurice Tulloch for insurers to join government ministers and the Association of British Insurers in discussing industry-backed funding for flood defences; a proposal to create an independent motor regulator has been slammed by insurers who say another watchdog would be a costly and unnecessary addition to an already crowded regulatory landscape; and insurance companies preparing to capitalise on providing corrections and complications cover for cosmetic interventions, in the wake of new government insurance guidelines, have been warned against entering a potential "massive growth market" without the relevant medical knowledge.

Also in this issue, catch up with all the other news to come out of Post's 2014 Motor Claims event, which took place last week.

AIG managing director UK and Isreal, Nicolas Aubert is in the C-Suite this week explaining how a diverse workforce can benefit staff and have a positive influence on corporate culture; he is joined by Lockton Companies senior partner and chief executive officer Mike Hammond who, following the record rainfall seen in January, asks why he believes proactive risk management got lost in all the ‘noise'.

Post continues its countdown to the twentieth British Insurance Awards with industry stalwart Dennis Mahoney, who won the Achievement Award in 2006.

The insurance industry's approach to fraud has progressed enormously over the past 20 years but, as Post's Spotlight On fraud outlines, there is still more to be done; and Callcredit's Graham Odiam explains why when tackling new types of fraud in the digital age, insurers can learn a lot from other industries.

With the government pushing hydraulic fracturing in the UK, Post looks at how developments in this market will affect insurers and what risks it entails in this focus on fracking; and with the Jackson reforms and the ‘Plebgate' debacle presenting solicitors with a host of new challenges, Post asks what impact has this all had on the solicitor's professional indemnity market?

Enjoy the read!

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