Articles by Tom Luckham
MPs call for OIC case backlog investigation
In a report published today, the Justice Committee has urged the Ministry of Justice to investigate the case backlog within the Official Injury Claim portal.
Home insurance payouts outpace premiums in Q2 2023
The latest figures from the Association of British Insurers reveal that £782m was paid out in home insurance claims in the second quarter of 2023.
Motor and building insurance complaints hit five-year high
Quarterly data from the Financial Ombudsman Service shows that complaints relating to motor and buildings insurance have reached their highest level in five years
Travel insurance predicted to lead growth in personal lines
Data from Smart Money People has revealed that travel insurance is set to grow by 15% over the next year, the highest growth projection of the top ten insurance policies.
PI discount rate consultation closes ahead of 2024 review
The Ministry of Justice’s consultation into establishing a dual/multiple PI discount rate closed yesterday, with the final decision to be made in July 2024.
Direct Line woes continue into 2023 with £78m H1 loss
Direct Line Group has reported an operating loss of £78.1m for the first six months of 2023, compared with a profit of £197m for the same period in 2022.
Motor insurance payouts rose faster than premiums in Q2
The Association of British Insurers has revealed that motor insurance payouts rose by 29% in Q2, up to £2.5bn, outpacing premiums.
Fundamentally dishonest fraudsters ordered to pay Zurich £30k
Two fraudsters have been found to be fundamentally dishonest and ordered to pay £30k in legal fees following an attempt to fraudulently seek damages against Zurich.
Three-year time limit for new vehicle MOTs set to stay
The result of the Department for Transport’s consultation on the mandatory time limit for MOTs is likely to result in the rules remaining unchanged, Insurance Post can exclusively reveal.
Direct Line to refund £30m to overcharged home and motor customers
Direct Line has agreed to a past business review after the FCA found it had breached dual pricing rules, having charged some customers at renewal more than if they were a new customer.
Apil issues proceedings challenging imminent PI reforms
The Association of Personal Injury Lawyers has issued judicial review proceedings against the Ministry of Justice regarding imminent personal injury claim reforms.
Updated – Insurer results directory H1 2023
Insurance Post tracks insurers' half-year 2023 results, including gross written premium and combined operating ratio.
Caravan thefts lead to 34% increase in premiums
An increase in caravan thefts has led to the average insurance premium for a caravan increasing by 34% since 2021, according to Go Compare.
Insurance M&A activity continues to slow down
Lack of demand for insurtech businesses plus concerns about a target company’s data security resulted in less merger and acquisition activity in the UK in the first half of 2023, according to Clyde & Co.
Motor insurance premiums hit record high
The average price of motor insurance has been pushed higher by the rising cost of vehicle repairs, according to ABI analysis.
Food delivery fraudster faces jail
A food delivery driver who fraudulently claimed nearly £80,000 from Aviva in motorbike hire costs has been jailed for seven months.
Bank to gain power to intercede as insurers collapse
The UK government has announced plans to establish a dedicated regime to deal with the failure of insurance companies.
Apil alleges ‘clear justice gap’ within personal injury claims
Analysis of the latest Official Injury Claim data by the Association of Personal Injury Lawyers alleges that a “clear justice gap” is present when it comes to road injury claims.
Axa pulls two home products in run-up to Consumer Duty
Following an internal review, Axa has announced it plans to pull Axa First and Axa Residential Let policies in the UK.
UK tourists to be offered extreme heat insurance
After tourists across Europe suffered delayed, diverted or cancelled flights as temperatures hit highs of 47C, US-based insurance start-up Sensible Weather has announced plans to offer UK travellers ‘extreme heat’ insurance.
Regulators unveil ‘clearer’ complaints procedure
The Financial Conduct Authority, Prudential Regulation Authority and the Bank of England have finalised a revised scheme for complaints about regulators.
Claims management companies face personal injury exile
Financial Conduct Authority figures reveal the number of claims management companies that cover personal injury has dramatically dropped to just 30.
Which? warns insurers are falling short of Consumer Duty standards
As the deadline for the Consumer Duty edges closer, a Which? survey has highlighted shortcomings in how insurers explain rejected claims.
DWF confirms Inflexion approach to buy
Law firm DWF has confirmed it has been approached to be acquired by Inflexion in a deal worth £342m