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In this week's issue, the Association of British Insurers remains unwavering in its support for the introduction of nighttime curfews for young drivers, despite open opposition among its members, with one telematics provider branding the proposal a ‘draconian, backwards step'.
Under the proposals, new drivers would complete a 12-month learner stage, beginning at the age of 17, which includes at least 100 hours of daytime and 20 hours of nighttime supervised practice. After that, drivers would undertake theory and practical tests before receiving a probationary licence from the age of 18. Under the 12-month probationary period, licence-holders must display a green ‘P' plate and would not be allowed to drive between the hours of 10pm and 5am unless accompanied by a licence holder older than 30.
In other news, loss adjusters and risk managers have called on insurers to extend policy wordings and coverage for non-physical damage in business interruption insurance, amid escalating supply chain issues; while the introduction of
business licenses for private security firms could present opportunities for insurers, brokers have warned rates may not be proportionate to potential claims activity; insurers are placing greater scrutiny on surveillance outsourcing, with a significant drop in business being referred, in the wake of an ongoing investigation by the Information Commissioner's Office; and Giles sources have slammed rumours of an action group being formed by disgruntled parent Expectrum's shareholders who have been told they will not see any return from the sale of the business to Gallagher.
AIG's Nicolas Aubert takes to the C-Suite to explain how a recent fire at an AIG building illustrated the importance of a strong crisis management plan, while Bluefin's Stuart Reid uses the opportunity to look at the challenges the long-awaited news that recovery is starting to take hold in the insurance market will bring.
In the first of two features, Mark Sands looks at what is behind the desire to consolidate law firms, and what it means for the insurance industry; while in the second, Sam Barrett asks what is holding back telematics in the UK market?
And BLM's Rachel Coombs explains many motor insurers are in limbo because of uncertainty over the interpretation of a crucial section of the Road Traffic Act but that a forthcoming Supreme Court judgment could provide much needed clarity.
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- CII warns 'long way to go' even as gender pay gap numbers fall
- Amanda Blanc makes first appearance as ABI chair
- Customers in line for compensation as UK broker fails
- Zurich CUO takes on RSA UK role
- Marsh's JLT deal 'could drive further M&A'