News
MoJ’s Grayling outlines 1 April start for whiplash portal MedCo
The new regime to accredit and distribute work to medico legal firms will go live on 1 April 2015 it was announced today.
CMCs face new regulation after MoJ sets up Hertzell-led fraud task force
The Law Commissioner David Hertzell, pictured, is to chair a new government fraud task force that could lead the way for greater regulation of claims management companies.
No amendments added to 'fundamental dishonesty' Bill in Commons reading
The Criminal Justice and Courts Bill received no further amendments during its latest reading in the House of Commons yesterday, despite criticism from the shadow justice minister relating to clause 56 on fundamental dishonesty.
MP moots option of second CMA review into motor insurance
A Conservative MP has raised the prospect of a second Competitions and Market Authority review into the motor insurance sector after the next election.
Claims Club News: Connected-home devices could cut claims costs
Insurers can proactively reduce their claims costs by encouraging the uptake of connected-home devices, according to Ninety Consulting’s Geoff Knott.
Claims Club News: Insurance implications of automated cars depend on level of human interaction
The extent of human interaction is one of the biggest challenges companies face in the race to develop driverless cars.
Claims Club News: Periodic payment orders tipped to make up a third of insurers’ liabilities
Periodic payment orders could account for a third of insurers’ future liabilities amid increasing frequency in bodily injury claims, according to KPMG non-life actuarial partner David Brown.
Open GI and Powerplace complete MBO worth upwards of £300m
Open GI and sister company Powerplace have completed a management buyout valued in excess of £300m after tying up a deal with Montagu Private Equity following approval form the Financial Conduct Authority.
Richfords founder to takeover as chairman of BDMA
Steven Richford, founder and managing director of Richfords Fire and Flood, will takeover as chairman of the British Damage Management Association from 1 December.
Axa inks £20m Paymentshield partnership
Axa Commercial Lines and Personal Intermediary has agreed to join Paymentshield household panel, in a move expected to deliver £20m of premiums over five years.
ABI's Evans urges insurers to take reputational issues into own hands
Insurers must do a better job of defending rating factors to avoid them being seen as a "sinister" use of data collection against consumers, Association of British Insurers deputy director general Huw Evans says.
ABI lukewarm on £470m flood defence plans
The Association of British Insurers has provided a measured response to Treasury plans to spend £470m on flood defences as part of a previously announced commitment of more than £2.3bn of public spending.
Aviva finalises £5.6bn Friends Life takeover
Aviva has completed a deal to acquire Friends Life for £5.6bn, with shareholders of the new purchase taking on 26% of Aviva.
Soft market failing to whet premium appetite among risk managers
Airmic members are not buying more insurance despite declining rates and instead continue to show faith in their captive solutions, according to a survey conducted by the risk management association.
Brisbane storm claims rise to over 57,000
The number of insurance claims from last week's huge hailstorm in Brisbane have climbed to 57,970 as of Tuesday morning.
Sterling deal to boost Covéa's diversity and customer service goals
Sterling managing director John Blundell says the business' buyer Covéa is a "good fit" for the insurer and is supportive of its existing growth plans.
Insurers warned about naivety around new entrants
Insurers should not be naive about the ability of companies from other sectors to enter the market and steal market share, according Guidewire senior vice president at Guidewire Brian Desmond.
Covéa closes Sterling deal
Covéa has completed a deal to acquire high-net worth insurer Sterling from founder Nicholas Cooper.
Crawford buys GAB Robins in £45.8m deal
Loss adjusting giant Crawford & Company has completed a deal to acquire GAB Robins in a deal worth £45.8m.
Biba moots several changes to Insurance Bill
The British Insurance Brokers' Association has recommended a number of amendments in its written evidence to the Insurance Bill including around the disclosure of confidential information.
CFS boss Campbell to lead BLM's Irish business following merger
Campbell Fitzpatrick Solicitors managing partner Peter Campbell is to lead BLM’s Irish business following the completion of the merger between the two law firms.
Century Underwriting becomes 101st MGAA member
The Managing General Agents’ Association has recruited its 101st member in the shape of commercial lines specialist Century Underwriting.
Uinsure hires Berkeley Alexander director Hutchings
Manchester-based general insurance provider Uinsure has followed up on the recruitment of five former Paymentshield employees by appointing Mark Hutchings from Berkeley Alexander as national account manager.
Russian market facing 'significant challenges' despite premium growth
A predicted 10% rise in non-life Russian premiums in 2014 would be largely a result of inflation and masks the inherent problems faced by the profession in the country, according to Axco Insurance Information Services.