Civil Liabilities Act
Analysis: Industry faces financial blow from discount rate revision
Insurers that have been pricing and reserving using a discount rate of between 0 to 1% may face a short term financial hit, analysts have warned.
‘Bad outcome’ for industry as discount rate revised to -0.25%
The government has set a new discount rate of minus 0.25% - a much lower number than the expected 0%.
Blog: The MIB's litigant in person portal is only fit for sunny days
The Motor Insurer's Bureau might have outlined how it expects the proposed litigant in person portal to work. But Marcus Taylor, director of claims at Minster Law, argues that while this might be fine for 'sunny day' scenarios, there was much detail…
This month: Reputation, climate change and technology
This month’s issue looked at reputational issues the sector is facing and what needs to be done to improve the industry's reputation going forward.
Trade body raises concerns over whiplash portal
Credit hire firms have raised concerns over the latest developments of the forthcoming whiplash portal.
Fee caps for CMCs could lead to 'clear consumer detriment'
The Association of Consumer Support Organisations has urged the Financial Conduct Authority to consider how the market adapts to regulatory change before considering fee caps on claims management companies.
Lawyers slam government for 'cutting corners' on whiplash portal
The Motor Accident Solicitors Society has raised concerns over the development process of the new Litigant in Person Portal.
Motor claims rise calls into doubt impact of whiplash reform
The number of motor claims has risen by 10,000, which lawyers say is a sign there has been little impact from whiplash reforms.
Law firms fear closures and redundancies from Civil Liability Act
More than a third of law firms have already shed staff in the run up to the implementation of the Civil Liability Act, and the majority believe the reforms could decimate the personal injury sector.
Industry body calls for clarity over 'secret' plans for small claims portal
The Association of Consumer Support Organisations has urged the Justice Committee to investigate the establishment of the small claims portal.
Discount rate: Are insurers being too optimistic?
In anticipation of the new discount rate announcement, expected by 5 August 2019, many insurers have already started to price and reserve at 0%
This week: The Godfathers of insurance return
Just when they think they’re out, insurance pulls them back in. This week, two big names from the recent past, Stephen Catlin and Steve McGill, returned to the fold.
ABI tracker shows fall in motor premiums in advance of whiplash reforms
The average cost of motor insurance fell to its lowest level in two years, according to a survey from the Association of British Insurers.
Trade Voice: Foil's James Heath on the Civil Liability Act
The Civil Liability Act was passed in December, changing the way whiplash claims are calculated. As part of the bill, the government also agreed to reform the discount rate, which is currently under review. James Heath, President at Forum of Insurance…
Brexit and fair pricing lead FCA general insurance agenda for 2019/20
The Financial Conduct Authority has set out its priorities for the year ahead in its 2019/20 business plan, identifying Brexit as its “immediate priority”.
Motor premium upturn 'on the horizon' after modest Q4 price cuts: Confused and WTW
The price of car insurance fell 1.6% in the first quarter of 2019 after creeping upwards during the second half of 2018, according to the Confused car insurance price index, produced in association with Willis Towers Watson.
Whiplash reforms drive £100 fall in car insurance premiums over last quarter
Car insurance premiums fell by £100 between December and February due to whiplash reforms and a six-month reduction in the number of car registrations, according to analysis by Comparethemarket.
Industry welcomes launch of discount rate review: updated
The government has launched a widely-anticipated review into the Ogden discount rate.
Blog: Discount rate - the light at the end of the tunnel
The road to reform on the personal injury discount rate has been long and winding but Deborah Newberry, head of corporate and public affairs at global law firm Kennedys, suggests with the strict timetable in the law there is a light at the end of this…
National Accident Helpline group to launch law firm
National Accident Helpline Group’s first wholly-owned law firm will start trading in April.
ABI tracker shows fall in motor premium
The cost of motor insurance fell last year for the first time since 2014, according to statistics from the Association of British Insurers.
Car and home premiums increase over last quarter
Both car and home insurance premiums rose over the final quarter of 2018 according to the AA.
Research: What is shaping the motor market?
In Post's first research project of 2019 we'll be looking at all the factors that are shaping the motor insurance market.
This week: What does the fox say?
Brightside’s new managing general agent Kitsune takes its name from the Japanese word for fox. The animal is much admired in Japanese folklore for its intelligence and supernatural abilities – characteristics all the insurance companies that announced…