Complaints about insurance-related nuisance calls and texts fell by 25% in 2020, though experts have warned that the trend could reverse as Covid disruption lifts.
Insurers are concerned that the implementation of whiplash reforms will result in an increase of personal injury claims management companies if fee caps are not introduced.
Insurers have argued that proposed fee caps for claims management companies may be too generous, while the claims sector has cautioned measures could reduce choice and service quality.
Covid-19-related lawsuits are set to drive a 40% increase in litigation over the coming year, with many claims management companies either already dealing with or anticipating a surge in claims.
The Financial Conduct Authority has published proposals to cap the fees claims management companies can charge their customers.
Claims firms and no-win-no-fee solicitors have ramped up attempts to get businesses to make Covid-related claims with them following the Supreme Court business interruption ruling – but insurance experts are concerned that fees could be as much as 40% of…
Former RAC employee Kim Doyle has been sentenced to eight months imprisonment, suspended for two years, in a prosecution brought by the Information Commissioner’s Office for selling unlawfully obtained personal data to a claims management company.
The Financial Conduct Authority imposed fines of £192,570,018 in 2020, the third lowest total on record since the watchdog was formed in 2013.
The confusion created by the High Court’s decision in the Financial Conduct Authority's business interruption test case, with both parties claiming victory, could act as an enabler for fraudsters, according to experts speaking at Post’s Claims and Fraud…
A Financial Conduct Authority letter to claims management company CEOs could foreshadow hefty enforcement action, industry sources told Post.
The predicted coronavirus-related economic hit is being compared to the 2008 recession, with financial pressure a driver of insurance fraud.
Motor specialist insurer Sabre was pleased overall with the half-year results as the coronavirus pandemic pushed premiums down 14% to £86.9m, CEO Geoff Carter told Post.
In the second of a new monthly series, Post looks into the future at how the insurance market might change, with each part focusing on a specific issue. Jonathan Swift fast forwards a decade to look at how a new era of collaboration and ethics changed…
In the 29th episode of Post and Insurance Age’s video series we gathered together an expert panel to discuss the prevention, detection and prosecution of insurance fraud at a time of pandemic.
It is the year 2030. As the demands for a green economy has intensified the government has announced the ban on selling new petrol, diesel or hybrid cars in the UK will be brought forward from 2035 to this year (2030). Concerns still exist over electric…
In the first of a new monthly series, Post looks into the future at how the insurance market might change, with each part focusing on a specific issue. For the first instalment, Jonathan Swift fast forwards a decade to report on the changing face of the…
Claims farmers looking to exploit the new type of claims arising from coronavirus will contribute to an increase in fraud, warn lawyers.
Lawyers have warned that insurers could face an influx of employers' liability claims after the government changed it stance and is actively encouraging those who can’t work from home to return to their workplace following an easing of coronavirus…
Blog: History is on Hiscox's side as claimants threaten Covid-19 BI legal action, but will its brand suffer?
This week Hiscox publicly defended itself against accusations it is refusing to pay valid claims linked to Covid-19 as a coalition of policyholders threatened legal action. Post content director Jonathan Swift reflects on the history of insurance action…
Proposed 7.1% increase to insurers' contribution to FCA budget will add to firms' 'financial burden' in difficult times
The Financial Conduct Authority is consulting on changes to its fees and levies which would see annual contributions by general insurers and general insurance brokers increase 7.1% and 3% respectively.
Aviva general insurance CEO Colm Holmes has said that claims inflation is far exceeding expectations, pinning the blame on poor driving.
The CEO of the British Insurance Brokers’ Association explains how the trade body picks the topics to lobby on and how the organisation seeks to get members’ views heard by decision makers to change the landscape.
The Financial Conduct Authority levelled £392.3m of fines last year including one in the general insurance sector and its first against a claims management company.
The Financial Conduct Authority issued 522 unauthorised firm warnings and an unconnected £227.3m in fines for the year up to March 2019, both signifying a jump.