Post Magazine – 14 July 2011

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The latest issue of Post Magazine is now available to subscribers as a digital and interactive e-book.

This week the Post team reports on the fears of some figures within the insurance industry that it will be called on to foot more policing after agreeing to invest £9m over three years in an insurer-funded police fraud unit.

This comes after the City of London Police confirmed the new unit is scheduled to be rolled out on 1 January 2012.

In other news, Davies group is expected to be sold for a bid of more than £60m after its majority shareholder embarked on an auction process; Zurich has vowed to maintain a presence in Cardiff despite plans to make sweeping redundancies as part of its return to the direct insurance market; The Law Commission has turned its attention back to reforming commercial insurance pre-contract law. Commissioner David Hertzell, confirmed new legislation governing both consumer and commercial pre-contract disclosure is due to be finalised by 2013; and Brighton-based loss adjuster Fitzgerald Consulting has set up its first international branch in Chile.

Faced with the daunting task of turning RBSI around ready for a floatation or sale, Tom Woolgrove and Steve Maddock spoke to Post editor Lynn Rouse about the positive results they are already seeing.

In a guest comment, Groupama managing director Laurent Matras argues that the banning of referral fees should just be the beginning of a wider overhaul of the civil litigation system; and sticking with the topic of referral fees, Post features editor Leigh Jackson explains why despite recent calls for a ban, the government must weigh up the wider considerations and consequences of its actions.

With the case of footballer Darren Bent claiming hire charges of £63 000 for 94 days' rental of an Aston Martin while his own car underwent £20 000 worth or repairs, sparking public interest in the issue of credit hire costs, Keoghs partner Melanie Mooney looks at suspect commercial arrangements between credit hire firms and repairing garages and considers what the industry can do to fight the practice.

This edition also features a 60-page supplement featuring the winning entries and highlights from the 2011 British Insurance Awards which took place at The Royal Albert Hall on 6 July.

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