The publication of the hotly-anticipated interim report on the Financial Conduct Authority’s market study of general insurance pricing practices that was expected this summer has been delayed until October.
The industry faces heavy scrutiny from regulators and the government over pricing practices and personal injury reform, all while reeling from the prospect of a looming Brexit. Huw Evans, Association of British Insurers director general, spoke to Jen…
UK motorists lose an estimated £982m a year by not shopping around on renewal.
We talk a lot about reputation. Earlier this year, Post held its inaugural reputation event, which was attended by key industry stakeholders.
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.
As many of you know I’m a motorhome owner and as a family we enjoy camping.
Our neighbours in France may have hit their highest ever recorded temperature this week as the heatwave that struck Europe saw schools closed, but Post revealed motorists holidaying there will not be able to claim compensation if they are struck by an…
ABI accuses consumer panel of 'overlooking practicalities' in dual pricing automatic upgrade recommendation
The Association of British Insurers has criticised a proposal from the Financial Services Consumer Panel for an automatic upgrade rule to tackle dual pricing, saying it “overlooks the practicalities of underwriting and product choice.”
Insurance suffers from a bad reputation. Ian Hughes, CEO of Consumer Intelligence, asks what changes firms could make to improve this in the future
A proposal by the Competition and Markets Authority to place targeted price caps could change pricing and marketing models and put pressure on profitability in the insurance sector, Fitch Ratings has warned.
The dual pricing noose is slowly tightening around the insurance industry’s neck. Its laudable attempts to escape from the regulatory hangman seem increasingly futile as the pressure is mounting on the Financial Conduct Authority to take action.
Arnold Schwarzenegger’s decapitated head kicked off its last outing on our television screens this week as the FCA counts down to the PPI deadline on 29 August. However, as one battle comes to an end, another may be just beginning.
The Competition and Markets Authority could be given the power to impose fines on companies in breach of consumer law without going to court, under government proposals announced today.
For a while now the insurance industry has been under the spotlight for the sheer volume of sexual harassment allegations its faced. And after Post reported this week the suspension of a senior boss at Marsh sister company Guy Carpenter, following…
Only 15% of customers will claim on their motor policies this year so how can insurers increase trust in the sector and improve its reputation with such a small touch point with customers asks Andy James, chief commercial officer at First Central…
Home insurance premiums could rise 22% for new customers if the regulator moves to axe dual pricing, analysts have warned.
This week, along with the rest of the team, I attended the British Insurance Brokers’ Association conference. I knew it would be an action-packed week - but nothing could prepare me for what was ahead.
Exclusive: Saga has revealed that the three-year fixed-price promise has attracted more than half of its customers.
Personal lines is a competitive space but Mike Smart, business development director at BAE Systems Applied Intelligence, believes that the first movers to tackle dual pricing and look at business structure will be the winners in the long run.
Providers with books that are skewed to heavily discounted year one are facing a quandary about whether to change their strategy before the dual pricing review outcomes or wait until after. Either way Brendan McCafferty, CEO Brightside Group, believe…
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”.
Gift cards may not be very personal, but they are perfect when you are not sure what to get someone. However, if you are anything like me you put them away in a “safe” place and forget to use them in time.
Citizens Advice is calling for the FCA to identify concrete solutions to the loyalty penalty as part of its insurance market study, after its research found that 100% of home insurance profits come from loyal customers.
Post held its reputation event this week, which felt somewhat prescient as parts of the industry were shamed on diversity and inclusion.