The British Airways data breach is the first major case since the General Data Protection Regulation became law. With the firm facing group legal action and the Information Commissioner’s Office testing its teeth for the first time, what might this mean…
We may not have flying cars, humanoid robots and exaggerated shoulder pads, but there is every reason to believe that the 2019 predicted by 80s film Blade Runner, looks very slightly dystopian.
The hype over new technologies might have the industry excited. But there remains a question of whether these firms’ back offices are fit for purpose to enable them to maximise these customer facing investments. Against this backdrop, Post, in…
The Financial Conduct Authority has invited claims management to register for temporary permission to continue operating once the sector enters the financial regulator’s remit later this year.
Legislation introduced in the wake of 2011 riots aims to simplify claims handling
With Brexit, increased scrutiny over reserves, climate change and emerging risks on the ‘watch’ list for 2019 The Prudential Regulation Authority certainly has a lot on its plate. Its executive director for insurance, David Rule spoke to Stephanie Denton…
On the back of recent research by Post and Banking Circle – the financial utility – into the banking/payments infrastructure insurance companies use for reconciliation and settlement, Edward Murray sought to discover the most pressing pain points and how…
Governments around the world are looking to regulate artificial intelligence and as Lee Gluyas, partner, and Stefanie Day, associate with law firm CMS, explain those that get there first will be the ones to benefit.
Gibraltar-based Horizon Insurance has been declared in default by the Financial Services Compensation Scheme.
The Civil Liability Bill, which aims to transform Britain’s motor compensation culture to create a fairer system for insurance customers and claimants alike, has received Royal Assent today and is now part of UK law.
The government has outlined plans that will see it commit to reforms over the coming years, following the tragic Grenfell Tower fire.
The Association of British Insurers has criticised the European Commission for failing to make contingency plans that would allow UK insurers to fulfil contracts with EU policyholders in the case of a no-deal Brexit.
The Competition and Markets Authority has ‘uncovered a range of problems’ around the loyalty penalty and made several recommendations for change in its damning response to a super complaint on pricing practices, but some feel that insurers are catching…
CBL Corporation shareholder Oceanic Securities PTE has filed an opposition to the application to put the company in liquidation, leading to delays for the liquidation hearing.
Insurers will inevitably retain insurance as their core offering. But must act more like venture capitalists and develop innovation cultures to succeed according to Geoff Knott, director, Ninety Consulting
At a time of year when good cheer to all men is encouraged and Scrooge is forgiven all his wicked ways and most of the world has been out enjoying their Christmas parties (I know we have), it appears the insurance world is still seen as the Grinch.
Given consumers less that flattering view of business, Marcus Taylor, director of claims, Minster Law, warns the insurance sector needs to make sure it listens to the public before enforcing the new online claims journey post April 2020.
Insurers have welcomed a deal that will preserve cross border insurance and reinsurance contracts between the UK and US.
Three years ago, the government established an Insurance Fraud Taskforce with much fanfare. However, in the last 18 months, the project has gone quiet. A report from the latter half of 2017 has yet to be published. Post looks at what the holdup is.
GRP’s chief people officer Craig Pocock explains why it’s important for brokers to plan for the new Senior Managers and Certification Regime.
The New Zealand High Court has granted a further application by CBL Corporation administrator Kordamentha to push back a watershed administration meeting to February 2019, though it is expected the corporation will be placed into liquidation.
The Competition and Markets Authority last month provisionally found Compare the Market in breach of the competition law due to clauses included in its contracts with home insurers, which limit the price insurance providers can charge for their products…
“Extraordinary animals, each in a heroic struggle against rivals and against the forces of nature, fighting for their own survival and for the future of their ‘Dynasties’."
The insurance sector must remain vigilant to challengers, be they data giants like Google and Amazon, or nimble insurtechs. Especially given that some already hold such rich data. So how can incumbents take on potential usurpers? Is now the time to take…