Legislation
European insurers win ground in Solvency II debate
European Union insurers could be spared the full impact of solvency rules owing to a last-minute agreement on Thursday between senior lawmakers.
Comment: Uncertainty is the only certainty
2012 could see a raft of changes to the insurance industry
Ethics: Entering the moral maze
The insurance industry has a poor public perception, many believing that firms put short-term profit above long-term customer satisfaction.
Study in Jordan may liberalise compulsory TPL insurance
The Jordanian government is considering liberalising prices of compulsory third-party liability insurance services this year, according to media reports.
US targets global insurers with growing Iran sanctions
US lawmakers plan to introduce legislation that would extend the remit of sanctions on trading with Iran to global insurers, according to Reuters.
Asian insurers warned to watch policy admin or repeat Europe's mistakes
Capgemini has warned insurers based in Asia Pacific that they should not rest on their laurels when it comes to policy administration or they will suffer the same issues European insurers are facing now.
Japan's P&I club cuts cover for ships in Iran
Japan's P&I Club has confirmed it will only be able to provide a fraction of insurance coverage to tankers that transport Iranian oil under the new European Union sanctions.
The temporal scope of Rome II
Rome II was intended to bring about uniform choice of law rules but had left some uncertainty over when the regulation applied in cross border accidents. Tarek Uddin explains how the recent case of Homawoo has helped bring clarity.
Video is next step for telematics
Technological advances in the world of telematics are expected to continue apace, following the claim that miniature in-car cameras could soon be installed to identify the number of potential claimants.
Government rules out legal curfew for young drivers
The government has dashed insurer hopes of legal intervention to curtail and curfew young drivers.
Employers’ liability: A fund of last resort
The need for a fund of last resort for employers’ liability claims still divides the insurance community. While plans to create an Employers’ Liability Insurance Bureau have stalled, it still has supporters who are determined to see these proposals come…
Government deregulation puts sprinkler legislation on back burner
Insurers have been told to prepare for government apathy over mandatory sprinklers legislation and, at best, expect piecemeal change.
Broker focus - Personal lines: Survival tactics
Embattled personal lines brokers are facing a tough climate with falling incomes and business volumes, but those willing to adapt to the new environment can survive and prosper.
ABI director general hails finance bill as 'important milestone'
Association of British Insurers director general Otto Thoresen has described today’s publication of the Financial Services Bill as “an important milestone” in the bid to achieve twin peaks regulation.
Your say: Compensation needs to change
The allegation that the Association of British Insurers is maintaining an “attack on injury victims” would be laughable if it wasn’t so offensive.
Government must pass whiplash legislation quickly claim insurers
Insurers have backed calls for legislation, if something is to be done quickly about spiralling whiplash claims in the UK.
Minister backs telematics in fight for lower premiums
It is hoped that a combination of telematics technology and changes instigated by the Driving Standards Agency to make the theory test harder to pass will lead to lower premiums for new drivers.
Biba welcomes Treasury report calling for fresh regulation outlook
The British Insurance Brokers’ Association has been among the first trade bodies to welcome today’s publication of a Treasury Committee report into the Financial Conduct Authority.
Russian liability law pushes up insurance costs
Stringent new legislation on the management and insurance of plants dealing in hazardous materials in Russia could have far-reaching consequences for companies operating in the region, according to Marsh.
Fitch Ratings gives referral fee ban its seal of approval
Fitch Ratings has approved measures to ban UK motor insurers from receiving any type of referral fees, saying represents a more meaningful step towards combating the rise in fraudulent claims.
Medical and legal professions bite back at report response
Medical and legal experts have hit back at industry criticism following the Transport Select Committee’s cost of motor insurance report, claiming that comments made in the aftermath of the report question the “integrity” of doctors.
Reliance on third parties for data Solvency II challenge
Reliance on third parties for data, sophisticated risk modelling requirements and obtaining sufficiently detailed fund data were top of a list of challenges identified by European insurers in order for them to meet Solvency II requirements.
View from the top: Time for radical action on motor
Moving to a first-party system would fix many inherent problems and directly tackle inflated costs, says Andrew Torrance, Allianz Insurance.
Roundtable - Analytics: the true value of quality data
As investment in analytics increases, Post gathered a group of experts to debate the rise in the use of data in all areas of the insurance industry.