News
FCA posts alert about unauthorised insurer
The Financial Conduct Authority has issued a warning about an unauthorised insurance company, AJ Cox Insurance.
Reserving certainty a fillip for insurers in Enterprise Bill amendment
A proposed amendment to the Enterprise Bill under consideration by the House of Lords is being championed as giving insurers more certainty around reserving for damages relating to late claim payments.
Career development: Microfinance drives surge in financial inclusion
Research has found both microfinance providers and mobile carriers are driving a surge in financial inclusion for the unbanked populace in developing nations, through the provision of sophisticated mobile finance services.
Career file: Ian Muress: Expanded role for Muress as Crawford restructures
Crawford Europe, Middle East, Africa and Asia Pacific CEO Ian Muress is to take on additional responsibility for Canada and Latin America after being named international operations CEO as part of a group-wide restructure.
Market Moves - 3 December 2015
All the movers and shakers in the market
Uptick in CMC activity predicted as insurers eye long-term motor rate reductions
Insurers have widely committed to pass on savings set to flow from the government’s heightened whiplash reforms, despite a predicted surge of activity among claims management companies in the interim period.
Industry disputes claimant solicitor criticism of move to 'care, not cash' claims model
Criticism of the government’s acceleration of personal injury reforms in the motor market by the claimant legal fraternity has been dismissed by the wider insurance industry, which has welcomed a shift in claims from cash to care.
Cyber and economy increasing concerns in financial system risk
Economic downturn, cyber attack and geopolitical risk pose the most concern for the UK’s financial system, according to the Bank of England’s biannual systemic risk survey.
Axa increases stake in Indian joint ventures to 49%
Taking advantage of new regulations Axa has increased its stake from 26% to 49% in Bharti Axa General Insurance and Bharti Axa Life Insurance.
Career File: Senn steps down as Zurich's global CEO
Martin Senn, Zurich's global CEO, has reached an agreement with Zurich's board to leave the company.
Zurich commits to general insurance in Singapore after life exit
From today Zurich will not accept any more life insurance policy applications in Singapore.
Product disclosure statements are too long and complex, says ICA
An Insurance Council of Australia taskforce has made 16 key recommendations to improve Australia's insurers' product explanations to customers.
Stream halts trading in Australia as part of bid to raise capital
Stream Claims Services UK’s Australian-based parent the Stream Group requested a pause in trading on Friday (27 November) in a bid to conduct a capital-raising drive.
Peer-to-peer insurers tipped as attractive M&A targets
Acquiring peer-to-peer insurance companies has been tipped as a way for traditional insurers to protect market share as the demand for insurance products changes, a Deloitte report claims.
Claims Club: Mediators told to emphasise service to claims professionals
Mediation practitioners must shoulder some of the blame as to why insurance claims managers have not made greater use of their services, according to Expedite Resolution director and mediator Phil Hesketh.
Claims Club: Mobile phone payments key to improving satisfaction scores
Insurers need to wake up to the growing trend of customers using their mobile phones as a “unique” ID, which could help speed up claims payments and improve satisfaction scores.
Claims Club: Ex-Lloyd's CEO Ward urges wider tech focus
Insurers are too interested in “hygiene” factors at the expense of how technology might impact their business.
Fundamentally dishonest claimant to pay £4500 for Eldon PI con
A fundamentally dishonest personal injury claimant has been ordered to pay almost £4500 in defendant costs after it was found in court there was a deliberate attempt to deceive.
New contract with key broker for Xchanging
Technology services provider Xchanging has won a contract with Aon, announced this morning (30 November).
Zurich exits general insurance in Middle East
From today Zurich will no longer write business in the Middle East for non-life insurance.
"Horrific" South Australia bushfires cost insurers over A$75m
According to the Insurance Council of Australia bushfires north of Adelaide have costs insurers A$75m (£36m) so far.
Bryant to swap Lloyd's for Swiss Re Corporate Solutions in Hong Kong
Dylan Bryant, Lloyd's Hong Kong general representative, is to leave early in the new year for a role at Swiss Re Corporate Solutions.
Insurers to discuss unscrupulous solicitors with SRA next month
Talks between the Solicitors Regulation Authority and a handful of insurers to discuss the legal watchdog’s regulation of solicitors suspected to be facilitating fraud have been set for 9 December, Post understands.
Insurance Debate: Insurers will only truly meet customers’ needs when they become innovative says Airmic
According to Airmic there are reasons to be optimistic as there has been a significant improvement over the past ten years in customer care, driven by commercial and regulatory pressures, and these can only continue to have a beneficial effect.