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Close Brothers updates commission requirements for personal lines
After telling brokers to ask for permission from commercial customers in order for it to pay premium finance commission, Insurance Post can reveal Close Brothers is adopting a similar approach for personal lines.
Big Interview: Steve Hardy, Policy Expert
Steve Hardy, CEO of Policy Expert, talks to Tom Luckham about the firm’s plans for expansion, addresses claims concerns, and reveals what American musician Iggy Pop is really like.
Home insurance premium growth slows year-on-year
Home insurance premiums increased by 21% year-on-year between July and September this year, according to research from Compare the Market.
All Amanda Blanc wants for Christmas is Direct Line
News editor view: Now a deal between Aviva and Direct Line Group has reached "preliminary agreement", Scott McGee looks at what the deal could mean for the future of the businesses and the wider market.
Policy Expert reveals lessons learnt after customer complaints
Steve Hardy, CEO of Policy Expert, outlines the changes it made following issues with the claim of a dissatisfied customer who then went on to create an action group.
Policy Expert gets capacity for pet push
Policy Expert has announced Bridgehaven will provide capacity for the business alongside Accredited, allowing the personal lines insurer to finally launch pet cover.
Aviva attempts ‘opportunistic’ take-over of Direct Line
Direct Line’s board confirmed this evening (27 November) that they have rejected a £3.3bn takeover bid from Aviva - the second suitor they have turned down so far this year.
Checking the price is right for insurance
Emma Ann Hughes examines how to prove the price is right of cover for different segments of consumers and observes it requires a whole lot more than just knowing the cost of delivering insurance products and services.
Average cost of lithium battery fire claims hits £50k
The average cost of fire-related home insurance claims involving lithium batteries has hit £50,000, according to data from Allianz.
Property payouts hit £4bn; RSA's latest launch; Konsileo's £8m fundraise
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Home insurers that reject half of claims named and shamed
Consumer watchdog Which? has named and shamed home insurers with a claims acceptance rate of less than 55%.
Pace of general insurers’ race to net zero revealed
As the 2024 United Nations Climate Change Conference, known as Cop 29, begins in Baku, Azerbaijan, Insurance Post’s Emma Ann Hughes analyses the pace of providers racing to become net zero heroes.
Howden rolls out pilots to increase efficiency
Carl Shuker, UK & Ireland CEO for Howden Insurance Brokers, has outlined three examples of how the broker has increased efficiency within its operations.
FCA takes trio to court for arranging vacuum cover
The Financial Conduct Authority has started criminal proceedings against three individuals accused of arranging insurance cover for vacuum cleaners without the regulator’s permission.
Portion of buildings underinsured falls to six-year low
The percentage of UK buildings that are underinsured has fallen to its lowest level for at least six years, but remains “unacceptably high”, according to data from valuations provider Rebuild Cost Assessment.
Are higher home excesses killing smaller claims?
After Verisk saw a 17% increase in the average home insurance claims cost, due to a decline in the number of low-value claims submitted by policyholders, Scott McGee asks: what is causing customers to stop submitting small claims?
How the FCA could address premium finance failings
Marc Maxfield, risk and regulation expert at PA Consulting, explains what steps the regulator could take to reduce profiteering from premium finance plus how insurers should prepare for the watchdog's probe now.
Post-pandemic supply-chain issues beginning to ‘stabilise’
Aviva's technical claims manager Martin Smith has told Insurance Post that supply-chain issues caused by the pandemic and the war in Ukraine have ‘stabilised.’
How insurers can navigate the threat of biased AI
Dean Standing, chief customer officer of consultancy Sagacity, outlines why insurers should take more care when handling customer data to train artificial intelligence pricing models.
Ensuring essential insurance satisfies the consumer
After the Financial Ombudsman Service stated it expected to receive an uptick in complaints from consumers who opted for cheaper car premiums without realising the impact this would have on the level of cover, Tom Luckham examines how the differences…
ABI’s Gurga hits top speed on motor insurance pricing
Hannah Gurga, director general of the Association of British Insurers, shares the work the trade body has been doing to help the government’s motor insurance task force accelerate into action and warns UK chancellor Rachel Reeves any increase to…
Wheels in motion for changes that benefit insurance customers
Following her attendance at inaugural meeting of the government's motor insurance taskforce, Rocio Concha, director of policy and advocacy at Which, shares her hopes for robust action from the regulator to make the sector work better for customers.
Why the government should examine how all insurance prices are set
James Daley, managing director of consumer group Fairer Finance, argues the government task force to tackle motor insurance should consider the way the entire general insurance market works.
Depletion of smaller home claims pushing average cost up
Analysis carried out by Verisk has revealed a 17% increase in the average cost of home insurance claims in Q3 2024 compared to the same period last year.