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.
The government has set a new discount rate of minus 0.25% - a much lower number than the expected 0%.
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’s issue looked at reputational issues the sector is facing and what needs to be done to improve the industry's reputation going forward.
Credit hire firms have raised concerns over the latest developments of the forthcoming whiplash portal.
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.
The Motor Accident Solicitors Society has raised concerns over the development process of the new Litigant in Person Portal.
The number of motor claims has risen by 10,000, which lawyers say is a sign there has been little impact from whiplash reforms.
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.
The Association of Consumer Support Organisations has urged the Justice Committee to investigate the establishment of the small claims portal.
In anticipation of the new discount rate announcement, expected by 5 August 2019, many insurers have already started to price and reserve at 0%
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.
The average cost of motor insurance fell to its lowest level in two years, according to a survey from the Association of British Insurers.
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…
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”.
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.
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.
The government has launched a widely-anticipated review into the Ogden discount rate.
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’s first wholly-owned law firm will start trading in April.
The cost of motor insurance fell last year for the first time since 2014, according to statistics from the Association of British Insurers.
Both car and home insurance premiums rose over the final quarter of 2018 according to the AA.
In Post's first research project of 2019 we'll be looking at all the factors that are shaping the motor insurance market.
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…