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In this week's edition members of the Association of British Insurers have committed to a code of conduct to ensure they are not accused of having their "own mouths in the trough of personal injury" and of driving wrong behaviours.
Signatories to the Customers with Road Traffic Injuries: the ABI Code have agreed to standards including: that policyholders wishing to make a claim are made aware of their options when considering appointing a legal services provider, including any links the insurer may have with a recommended provider; agreeing not to apply pressure on customers to claim; and aiming to resolve claims wherever possible through the claims portal.
The code has launched at Post's Motor Claims 2014 conference today in response to the introduction of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 in April last year and the provision of alternative business structures under the Legal Services Act 2007.
In other news claimant solicitors are calling on politicians to take action after accusing insurers of attempting to obscure how much profit they are making from motor insurance; former RBS boss Stephen Hester's limited insurance industry experience and "transactional" approach to business could prove advantageous for the newly appointed RSA group chief executive, market insiders have claimed; and industry commentators have responded with caution to suggestions from the Environment, Food and Rural Affairs Select Committee chair that insurers committed to investing £25bn into UK infrastructure should direct the funding into flood defences.
In the C-Suite Ageas chief executive Andy Watson explains why all parties have a role to play in order to achieve improved regulation of the motor insurance market; with graduates and other able young people showing unprecedented interest in the insurance industry, Bluefin chief executive Mike Bruce talks about the importance of taking this opportunity to recruit talent and implement substantive career development programmes; and they are joined by UK General group chief executive Peter Hubbard who asks is big data really the answer to stopping the rot that has taken hold in personal lines insurance?
Post's countdown to the twentieth anniversary of the British Insurance Awards in July continues with interviews with two past winners of the Young Achiever accolade. Keeley Goding won the award in 2010 for her work in Hiscox's technical claims business, while David Britton scooped the prize in 2012 for his part in implementing a new risk assessment tool among other achievements.
While Davies chief executive Dan Saulter explains to Post in his first interview sincegetting the job why he is the right man, despite the surprise of many in the market at his appointment, and why the recent swathe of storms held no fears for him.
The features section kicks off with a look at 3D printing, and with the prospect of it totally transforming manufacturing, we look at what it means for the insurance industry; while Francesca Nyman reports back from Gibraltar in the first in a series of regional reviews to run over the course of the year.
Enjoy the read!
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- Amanda Blanc makes first appearance as ABI chair
- Customers in line for compensation as UK broker fails
- Zurich CUO takes on RSA UK role
- Lloyd’s sees diminished results even as it shrugs off 2017 losses
- RSA's Carolyn Mackenzie on the delicate balance struck by whiplash reforms
- Blog: Loss adjusters are developing new skills to tackle escape of water claims