Personal
Poverty premium adds £224 to motor insurance costs
The “tax on being poor” identified by the Financial Conduct Authority’s former head of insurance Matt Brewis remains firmly in place, according to new research from Fair By Design and the University of Bristol’s Personal Finance Research Centre.
Campaigner calls for action to tackle the poverty premium
From postcode pricing to premium finance, Rebecca Deegan, director of Fair By Design, insists the insurance market must take further action to improve affordability and access for financially vulnerable consumers.
Diary of an Insurer: Hood’s Ryan Fuller
Ryan Fuller, associate director of travel at Hood Group, explores artificial intelligence-driven operational initiatives for travel insurance and reserves Thursday mornings for a relaxed breakfast with his wife.
Penny Black’s Social Diary: Aviva’s gala; sweet Peach treat
Penny Black has been out and about again, notebook in one hand and canapé in the other, keeping a keen eye on the insurance industry’s more whimsical moments.
CFC’s Poole recalls challenge of Direct Line takeover
Jane Poole, former chief financial officer of Direct Line Group, has reflected on the challenge of leading through months of uncertainty during Aviva’s takeover of the insurer.
Ageas CEO outlines MGA ambitions
Ageas has set up an arm of the company to enter the MGA market, group CEO Hans De Cuyper has said.
Throwback Thursday: Motor insurer lambasts shopping around
Insurance Post’s Throwback Thursday steps back in time to June 1971 to remind you what was going on this week in insurance history when a motor insurer’s chairman was moaning about consumers shopping around for cover.
Alternative accommodation enters the Consumer Duty era
AirBnBs, hotels, care homes and holidays are among the tailored accomodation options being offered to customers whose homes have been damaged. Marcel Le Gouais explores a shift in claims that puts people before process.
Travel insurance prices stable despite Middle East tensions
Travel insurance premiums remained broadly stable following the escalation of tensions in the Middle East, according to analysis by Defaqto.
Uninsured driving creates a vicious cycle for insurers
From compensation payments to lengthy legal disputes, the Forum of Insurance Lawyers' Emma Fuller and Sarah Cartlidge unpick how uninsured motorists are creating costs that ripple across the market.
Property-level data reveals hidden flood risk for insurers
Insurers could be “significantly underestimating” their exposure to flood and subsidence risk by relying on regional averages rather than property-level analysis, according to a study by PriceHubble and MIAC Analytics.
Peers told FCA is not up to standard
The Financial Conduct Authority is falling short of the standard needed to effectively enforce Consumer Duty, consumer advocates told peers yesterday (17 June).
Ageas motor head unconvinced telematics improves behaviour
Senior motor underwriting bosses disagreed about the amount of impact telematics has on driver behaviour at Insurance Post’s Underwriting Club.
Markerstudy motor boss warns on ‘essentials’ product over-saturation
The essentials market on price comparison websites has become over-saturated, creating a need for greater guidance as to what should or should not be included in these stripped down policies.
Travel insurers chart a course through Hormuz disruption
As the US and Israel's war with Iran plus the closure of the Strait of Hormuz enters its fourth month, Scott McGee looks at what impact it has had, if any, on the UK travel insurance market to-date.
Insurance challenge of travelling for treatment
The growing trend of medical and cosmetic tourism, and the challenge it presents for travel insurers, is the focus of the latest Insurance Post Podcast.
Markerstudy and Policy Expert criticised for premium finance APRs
Which? has criticised motor insurers, including Policy Expert and Markerstudy-owned brands, for continuing to charge close to 30% annual premium rate to customers who pay for their car insurance monthly.
Pets at Home insurance product to go live on 2 July
After Insurance Post reported last year that retail giant Pets at Home was working on an insurance product, the business confirmed it will launch on 2 July.
Intact’s Scaife unpicks software liability in motor claims
Motor insurers are not yet ready to tackle the complex liability and recovery challenges posed by connected and autonomous vehicles, according to Jess Scaife, director of technical motor and injury claims at Intact Insurance.
Thatcham’s Townsend issues warning on Chinese insurers
Motor insurers must adapt to rapidly changing risks or face potentially significant market disruption from Chinese insurers entering the UK market, according to Ben Townsend, head of automotive at Thatcham Research.
How vet reforms will redraw pet insurance competition
Greater transparency in veterinary pricing could transform how pet insurers price risk, design products and compete for increasingly informed customers, according to Scott Williams, head of pet at Hood Group.
Supporting domestic abuse victims in insurance
What brokers and insurance providers can do to support customers who are experiencing domestic abuse is the focus of the latest Insurance Post Podcast.
Fair value rules still fail brokers and consumers alike
Four-and-a-half years after the Financial Conduct Authority’s fair value rules arrived, Branko Bjelobaba, principal of compliance consultancy Branko Ltd, argues inconsistent data and vague metrics still make it difficult for brokers and consumers to…
Big Interview: Jon Walker, Axa Insurance UK
Following the merger of Axa’s retail and commercial businesses under one brand, Axa Insurance UK’s CEO Jon Walker runs through the thinking behind the move plus what to expect next from the provider.