Claims management companies (or CMCs)
Whiplash portal 'being built in a rules vacuum'
The Litigants in Person whiplash portal build may be progressing well, but fraud and a lack of clarity from the government could jeopardise its effectiveness, according to Sabre CEO Geoff Carter.
FCA flexes muscles over unauthorised claims firm
The Financial Conduct Authority has named a personal injury claims management company as operating without authorisation.
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.
Editor's comment: Game of Insurance
Whether it was an epic ending or a major disappointment, some of us currently have a Game of Thrones-shaped hole in our lives… and I was just imagining what it would be like if the show was remade in the world of insurance.
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.
Regulators form working group to tackle 'phoenix' companies
Financial services regulators have formed a working group to collaborate on tackling ‘phoenixing’ in the sector, whereby companies or individuals avoid liabilities or penalties by shutting down businesses only to re-emerge as new legal entities.
Premiums 'more likely' to edge up despite claims fraud crackdown: Fitch Ratings
Insurers are unlikely to get a profit boost from a reduction in fraudulent claims and are instead expected to use savings to keep premiums down amid surging average claim sizes, according to Fitch Ratings.
Editor's comment: Knowing what is good for you
My son is learning about healthy living at school and a recent exercise sent home was to spend a day eating according to the Eatwell Guide.
FCA takes over CMC regulation
The Financial Conduct Authority now oversees regulation for claims management companies in England, Scotland and Wales.
Analysis: Are the barriers too high for CMCs?
Claims management companies come under the regulation of the Financial Conduct Authority today, but do the high barriers for entry threaten to create unintended consequences?
New claimant sector trade body aims to 'detoxify the compensation culture'
Exclusive: A trade association has been launched to represent businesses that look after customers in the civil justice system, when they make a claim for insurance, injury, negligence and mis-selling.
Special Report: Motor Insurance Research 2019
What’s fueling motor insurance today? Michele Bacchus talks to the industry and gives the low-down on what’s heading down the highway towards insurers in both the fast and slow lanes
Analysis: Are the barriers too high for CMCs?
Claims management companies will see registration fees increase by 400% when they come under the regulation of the Financial Conduct Authority next month, prompting fears that smaller firms will move into unregulated areas.
FCA sets March deadline for CMC permissions
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.
Analysis: Are cavity wall insulation claims the new PPI?
Insurers are seeing a spike in people claiming improper installation of cavity wall insulation. Is this the new money spinner for CMCs?
Travel sickness CMC activity 'should be regulated by the FCA'
Claims management companies who deal with travel sickness should be included in upcoming Financial Conduct Authority regulation of the sector, warn experts.
Evolution appoints ex-Brightside CEO as NED
Former Brightside CEO, Mark Cliff has been appointed as non-executive director of Evolution Claims Management.
PPI complaints jump almost two thirds following £4.9m Arnie-fronted campaign
Consumers have netted a collective £3.7bn since the Financial Conduct Authority began running its Arnold Schwarzenegger-fronted payment protection insurance refund campaign.
Dual pricing: Interview: Jonathan Davidson, Financial Conduct Authority
Insurance has come under fire for the way it prices policies. Jonathan Davidson, director of retail at the Financial Conduct Authority, discusses the problem with Martin Croucher
Analysis: How regulation could clip the wings of CMCs
In six months’ time, claims management companies will fall under the umbrella of the Financial Conduct Authority.
Police called to Brolly offices after overnight break in
The offices of insurtech firm Brolly were broken into, and £15,000 of computers, tablets and phones were stolen.
This Week in Post: Surprises and savings
Getting a nasty surprise when the bill arrives is a feeling many of us have experienced. Some insured losses are no different.
Axa sees huge spike in cavity wall installation claims - updated
Cavity wall insulation claims exploded last year, with Axa Insurance alone reporting a dramatic increase in the space of seven months.
CMCs look elsewhere as industry calls time on travel claims 'epidemic'
The epidemic of holiday sickness claims might be over, but insurers have been warned claims management companies are already moving into new areas to make up for the shortfall in revenue.