The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS App Edition on the App Store or read the Post Digital Edition online.
In this issue, the second part of our Insurance Census considers how the age profile of the sector has changed since our first census was published two years ago and how the efforts made to encourage diversity have developed.
Deloitte partner Margaret Doyle comments: “The focus on apprenticeships and training programmes can only help the insurance industry. Part of the problem seems to stem from a lack of understanding both of insurance as a service and also of jobs in insurance. Specifically tackling that perception is a very good idea.”
In the news, insurers are concerned that Association of Personal Injury Lawyers proposals to broaden the scope of who is able to lodge a claim for psychiatric harm could “open the floodgates” to spurious claims; insurers have backed Aviva's proposals to reduce the volume and cost of whiplash claims against a backdrop of criticism around the effectiveness of the government's civil justice reforms and aggressive tactics by third parties; and a review into the way companies handle product recall could trigger premium inflation and compound administrative burden, say legal experts.
Hiscox’s Matt Webb is in the C-Suite, talking about how businesses, insurers and government must work together to provide resilience to cyber attacks. Meanwhile, Simpson & Marwick’s Debbie Connor is North of the Border, reporting on how two recent appeal cases have highlighted the inconsistencies between fatal claims awards.
Rachael Adams meets Andy Fairchild. The Broker Network CEO outlines his vision for the year ahead and the three areas he aims to focus on in 2015.
Our Spotlight falls on big data. We look at the opportunities presented to insurers who use big data correctly, before Callcredit’s Graham Odiam comments on why insurers must embrace the wider use of data in order to interact with customers or risk being left behind.
The first of our features focuses on earthquakes. New Zealand insurers were exposed to intense pressure following the devastating earthquakes in Canterbury in 2010 and 2011. Katie Marriner investigates the lessons learned from these events for insurers in both New Zealand and the UK.
Finally, we look at arson. While fire risk has dropped considerably over the past decade, almost half the £1bn paid out in fire claims each year is as a result of deliberate acts. So what can be done to reduce the losses caused by arson?
Enjoy the read!
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- Video: Insurers and claimant lawyers react to whiplash reform
- Sabre delivers COR of 68.5% following IPO
- Lloyd’s struck by £2bn loss from nat cats
- Gosden retires as Higos chairman two months into role
- Zurich appoints former RSA boss Robinson as chief underwriting officer
- Insurance leaders pledge to pass on personal injury reform savings
- Underlying performance needs to improve, says Lloyd’s CFO