UK motor insurers made lockdown savings of £1.28bn as drivers stayed home between 23 March and 31 May 2020, research by price comparison website Hello-Safe has suggested.
It is the year 2030. After a number of false starts the government finally introduced its Whiplash reforms in April 2022 following delays due to the extended impact of Brexit and Covid 19.
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…
The Northern Irish Department of Justice has launched a consultation into possible changes to the legal framework for setting the personal injury discount rate.
As investment returns drop due to coronavirus claimant and insurance lawyers have urged parties not to take a short-term view on the discount rate and a possible early review of a dual discount rate saying its a time for "stability and not disruption”.
We have seen a great deal in the press about the immediate impact of Covid-19 on the insurance claims landscape, including motor and credit hire. BLM’s head of catastrophic injury, Andrew Hibbert, believes there are a number of things the insurance…
LV General Insurance Group has posted a 13% fall in operating profit to £93m for the year ended 31 December 2019 as Ogden took another bite out of the insurer’s performance.
If the discount rate in Northern Ireland is made minus 1.75% this will lead to price hikes and potentially vast jumps in the cost of individual claims, insurers and lawyers have warned.
Admiral saw profits rise in 2019 as its UK insurance results were buoyed by positive development in prior year claims costs, reserve releases and commission.
Direct Line’s profits slumped by 12.2% in 2019 as the group incurred the first of a multi-year package of restructuring costs and strengthened reserves in response to the revised Ogden rate.
The Northern Irish Department of Justice plans to change the Northern Irish personal injury discount rate to minus 1.75%, pending a statutory consultation.
ERS has recorded profit of £13.9m for 2019, its best performance since being bought by Aquiline in 2013.
There was “a very large number of factors” behind the significant drop in operating profit at Allianz UK in 2019, according to CEO Jon Dye.
Allianz UK has reported profit of £138.1m for 2019 supported by investment gains as operating profit fell.
December 2019 was the first anniversary of Royal Assent to the Civil Liability Act 2018 and mid-January 2020 marked six months on from one of David Gauke’s last decisions as Lord Chancellor to set a new personal injury discount rate of -0.25% for England…
The average cost of motor insurance rose to its highest level in the final quarter of 2019, according to research by the Association of British Insurers.
Comprehensive car insurance premiums in the UK increased by 4% in the final quarter of 2019, taking the annual uplift to 5%, according to the latest Confused Car Insurance Price Index in association with Willis Towers Watson.
Rising claims costs in quarter four are expected to put a slight dent in Hastings’ 2019 dividend payout.
UK motor liability reinsurance rates for some accounts rose by up to 35% in the annual January renewal season, according to Willis Re.
The Association of British Insurers will not be proceeding with a legal challenge to the “misguided and incorrect” decision to set the Ogden personal injury discount rate at -0.25%, the organisation has confirmed.
Her appointment as a NED of Aviva triggered one former colleague to boast 'It’s coming home, it’s coming home, insurance is coming home'. Jonathan Swift reflects on what lies ahead for Amanda Blanc here, at ERS and where she might pop up next.
As 2019 draws to an end, everyone is thinking about what the new year may hold for them, whether it's an exciting new job or simply committing to some small lifestyle changes. One person who has set some plans in motion for 2020 is former Zurich and Axa…
With the Ogden discount rate in Scotland set to remain at minus 0.75%, could insurers in the country start to feel squeezed, and begin to be squeezed out?
It feels as if 2019 was an uncomfortable year for the general insurance market as it never quite seemed to grasp control of its own destiny. Wherever you look, carefully laid plans were derailed by the unexpected – and often unwanted – intervention of…