Regulation
Insurers throw support behind calls to ban use of hands free devices while driving
Insurers have welcomed a Parliamentary report calling for tougher restrictions on using hands free mobile devices while driving.
Industry body calls on government to protect vulnerable road users
The Association of Consumer Support Organisations has called on the government to match the Financial Conduct Authority in its approach to all types of vulnerable road user.
The NED Blog: The importance of the audit committee
Challenging the executive management team in terms of the decisions they make is a key responsibility of being a non-executive director. Michael Gaughan explains that one of the aspects of the role is to sit on various Board Committees to look at…
This month in Post: Insurtechs, results and discount rate
London seems strangely quiet in the summer, most people are away on holiday, and out of office replies are basically a given.
Interview: Sara Mitchell, Chubb
Sara Mitchell has recently taken on the role of divisional president for the UK and Ireland retail business at Chubb. She talked to Stephanie Denton about her faith in the UK market, the importance of understanding the risks insurers are writing and not…
ABI mulls legal action against government over discount rate
Exclusive: The Association of British Insurers is considering legal action against the government, after the Ogden discount rate was set at -0.25%.
Analysis: Discount rate decision casts a shadow over personal injury settlements
The personal injury discount rate will be set at minus 0.25% from 5 August providing certainty for insurers and claimants alike, but uncertainty created by the Ministry of Justice review behind the new rate could have left claimants – as well as insurers…
FCA sounds alarm over Instagram brokers
The Financial Conduct Authority has issued a warning over two brokers operating without a license via Instagram.
This week: No hiding place
As we start the month of August, many of us are planning to jet off abroad for a well-deserved break. And for those who do, very few would dream of placing a false sickness claim in order to receive a pay-out that would inevitably land them in jail.
Trade voice: Paul Nicholls, Mass chair
With the motor claims landscape set to change following the Civil Liability Act, Motor Accident Solicitors Society chair Paul Nicholls airs his concerns over anticipated delays in the progress of the Litigants in Person portal and how a premature launch…
Blog: Government moves on cladding replacement expose insurers’ inaction
Since the Grenfell Tower tragedy just over two years ago, building owners have been removing and replacing unsafe aluminium composite material cladding from their high-rise housing stock across the UK. Joanna Grant, partner at Fenchurch Law, asks why…
IPT becoming government's 'golden goose' as income hits record high
Government income from insurance premium tax hit a record high of £6.3bn in 2018/19, up 7% from £5.8bn collected the previous year, according to an accountancy firm.
Half of insurance firms have not accessed FCA Brexit guidance
Half of general insurance firms have not accessed official guidance on Brexit preparations, a survey found.
Whiplash portal 'being built in a rules vacuum'
The Litigants in Person whiplash portal build may be progressing well, but fraud and a lack of clarity from the government could jeopardise its effectiveness, according to Sabre CEO Geoff Carter.
Lamp policies transferred to another unrated insurer
More than 8000 former home insurance customers of failed insurer Lamp have had their cover moved to another unrated Gibraltarian insurer, Red Sands.
This week: Rolling in it
Thursday seemed an appropriate day for insurtech Hippo to announce the outcome of its latest funding round – with temperatures reaching 38°C in places, the urge to emulate the mud-wallowing tendencies of its namesake animal became more and more tempting.
Gibraltar regulator on hunt for CEO successor
Samantha Barrass will step down when her second term as CEO of the Gibraltar Financial Services Commission ends in August 2020,
Criminal who stole Audatex data ordered to pay £25,500
Mustafa Kasim, who was sentenced to six months in prison in November for stealing data from Audatex, has now been ordered to pay a confiscation order of £25,500.
FCA flexes muscles over unauthorised claims firm
The Financial Conduct Authority has named a personal injury claims management company as operating without authorisation.
FCA announces crackdown over treatment of vulnerable customers
The regulator has vowed to “take action” against insurers that do not treat vulnerable customers fairly.
This week: Gaukward moment for insurers following Ogden change
It was around Spring when office chat turned to the trend of insurers bolstering full year accounts through claims reserve releases.
Young driver curfew plans 'could have deadly consequences'
Introducing graduated licensing for young drivers could have unintended adverse effects, warns Mike Brockman, CEO and founder of ThingCo.
Money Supermarket clone site shut down
The Financial Conduct Authority has issued a warning about fraudsters operating a clone of price comparison website Money Supermarket.
Blog: Fires and cars - spontaneous combustion is 'use'
The legal definition of when a car is in use and how it affects an insurance claim has long been contentious. Alistair Kinley, director of policy and government affairs at BLM, takes a look at the latest ruling and its likely impact on the insurance…