Post magazine – 18 June
The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS or Android App Edition on the App Store or Google Play respectively or read the Post Digital Edition online.
In this issue, Post reveals that insurers have backed proposals to mandate the salvage code of practice with a view to ensuring the most severely damaged written-off vehicles do not return to UK roads.
High-level discussions are taking place between the Association of British Insurers, the Department for Transport and research facility Thatcham with a view to revising the code, which is currently applied on a voluntary basis.
In other news, capital raising-ability and difficulties in obtaining a credit rating have been cited as barriers to other insurance companies emulating the business model employed by Richard Brindle's new $1.5bn (£964m) start-up Fidelis; defence of Medco by insurers and the defendant legal community appears to have been vindicated by the public's support of the independent medical panel; and the boards of insurers that use delegated authority arrangements must take a more active role in their oversight, following the "warning shot" from the Financial Conduct Authority over such arrangements, compliance experts have cautioned.
Ageas CEO Francois Xavier Boisseau believes the industry already provides excellent service, but he is in the C-Suite this week to explain how joined-up thinking will lead to mutual respect; and in the second C-Suite instalment, Bluefin CEO Robert Organ explains why talent alone isn't enough to succeed in business - you also need to be surrounded by a good team.
This week's interview sees Association of British Insurers director Huw Evans talk to Post's Katie Marriner about his plans for the trade body and how he intends to keep membership worthwhile.
According to businesses, six of the top 10 risks facing them are deemed uninsurable. Are insurers being innovative enough to address the problem? Rachel Gordon investigates in the first of this week's features; while James Verrinder looks at what it is about the troublesome waste management and recycling industry that often leaves underwriters scratching their heads.
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