Getting a nasty surprise when the bill arrives is a feeling many of us have experienced. Some insured losses are no different.
The 300-year-old Lloyd's market is changing, says Lee Elliston, claims director, Lloyd's Market Association. The Target Operating Model has seen Lloyd's focus on boosting efficiency and bringing business benefits to market participants. Now the LMA is…
Insurers will not be required to pass on savings from whiplash reform to customers, but they will have to report what those savings are.
The Financial Conduct Authority’s consultation into claims management companies has a gaping hole, warns Kurt Rowe, associate at Weightmans, explaining why it matters for insurers.
The government collected £6bn from businesses as a result of the increase in the insurance premium tax, an increase of 22% on the previous year.
Farming is the most lethal of all industries. The sector and its main insurer are trying to change rules and mentalities to make it safer
A government amendment to planned personal injury reforms could see insurers have to prove to the regulator that they are passing on savings to customers.
The Insurance Distribution Directive brings transparency but also unintended consequences for customers, writes Peter Thompson, group director of insurance distribution and outsourcing at BGL Group.
Insurers have welcomed the progression of hotly anticipated personal injury reforms through Parliament, however yesterday’s events in Westminster have whipped up fresh disapproval from the legal sector.
Markel is to buy the world’s largest manager of insurance-linked securities, Nephila Holdings.
Ecclesiastical claims director David Bonehill was awarded the Achievement Award at the eighth Post Claims Awards. As technology is transforming claims, he predicts tech giants will enter the market, probably in the motor or home arena.
Loyal customers are being penalised for staying with an insurance provider, leaving thousands paying excessive home insurance premiums, according to Which?
The Association of British Insurers has issued a warning after scammers from a claims management company posed as the body in cold calls to members of the public.
The insurance industry’s perpetually uneasy relationship with credit hire has often flared up into hostility. Judging by the tone of the exchanges at a recent roundtable, the current mood is much calmer, with a greater willingness to explore ways of…
For those of us back in the office while the holiday season continues it might seem like time is moving slowly but the Association of British Insurers revealed this week that for every minute we count down until silly season is over and the out of office…
Claimant lawyers have slammed the financial watchdog’s proposal to regulate claims management companies, arguing it unfairly penalises practicing firms and that insurers should be made to take a share of the burden too.
A regulatory deal is urgently needed to address Brexit contract issues for the insurance sector, the Association of British Insurers has said.
The Financial Services Compensation Scheme has declared nine firms, including three insurance businesses, in default, possibly opening the door for consumers to be compensated for any losses incurred.
The Central Bank of Ireland has fined two Dublin-based subsidiaries of Partner Re €1.54m (£1.35m) for breaches of the European Union regulation on solvency requirements.
The London and International Insurance Brokers’ Association has written to the Prime Minister raising concerns over the government’s planned equivalence regime for brokers post-Brexit.
The cost of regulating claims management companies could be £16.8m with the bill falling on the firms themselves, according to the Financial Conduct Authority.
Overall, top-line growth for the 30 largest European insurers has been steady, reflecting the underlying economic conditions throughout Europe, explain Tim Prince and Yvette Essen, director of analytics and director of research at AM Best
The government's whiplash reforms discriminate against legitimate claimants, whose rights need to be protected, argues Simon Stanfield, chair of the Motor Accident Solicitors Society.
Direct Line Group saw operating profit slide in the first half of 2018, as it was hit by weather-related claims.