Post magazine – 9 February 2012

This week the Post team reports on the reaction of brokers to the FSA's decision to create a ‘twin peaks'' operating model to mirror the upcoming regulator, which has been hailed as a "chance to get it right for the future."

In other news the competition to get the upper hand in the use of sophisticated data to underwrite flood-prone properties has already started, as it seems increasingly unlikely the Statement of Principles will be renewed beyond June 2013; and last week's Claims Club meeting saw debates about government apathy over sprinklers, worries over the ELIB and debates on how to combat metal theft. Post report Chinwe Akomah reports.

It has been three years since credit hire operator Accident Exchange launched its legal battle against rate surveyor Autofocus. In the first of new news analysis pieces, Chinwe Akomah looks at the latest developments; while Post reporter Callum Brodie looks at the burgeoning relationship between private equity houses and legal services firms following the news that Duke Street has taken a majority stake in the Parabis Group.

Also in this issue, While the motor sector has tended to grab the headlines, fraud is on the rise in other areas too. Post gathered together a number of industry experts to debate how the profile of this issue in the casualty sector can be raised.

The need for a fund of last resort for employers' liability claims still divides the insurance community. While plans to create an Employers' Liability Insurance Bureau have stalled, it still has supporters who are determined to see these proposals comes to fruition, says Jane Bernstein; sticking to the theme of liability, with the rise in cosmetic treatments, there is more scope for problems - as the recent PIP implants scandals has shown - whether it is clinical negligence or a product defect, insurers must be wary BLM partners Jim Sherwood and Greg McEwen warn.

And, the in series on data continues with the second instalment. In a competitive market, validation is key to making data leaner and more reliable. Edward Murray asks if it can level the playing field for brokers, as well as insurers; and Graham Odiam looks at why external data sources are an increasingly important resource for insurers and brokers, as aggregators gain market share.

Read the 9 February edition of Post