Legislation
FCA and PRA to be given secondary growth and competitiveness objective under proposed legislation
The UK’s financial regulators will be given a secondary objective to foster growth and competitiveness under legislation tabled on Wednesday.
Aviva’s Amanda Blanc calls on the government and regulator to resolve the issues around Solvency II to help UK ‘level up’
Aviva’s CEO Amanda Blanc has flagged a “discrepancy between the regulator and the industry” in the overhaul of Solvency II regulations and urged the government to support UK insurers levelling up so they can help both the climate and the economy.
Concerns raised over government putting ‘profits above the injured’ as Vnuk cut takes effect
A personal injury expert has raised concerns that the new motor insurance legislation cutting the Vnuk law, puts “profits above the injured”.
Apil calls for DfT to enforce speed restrictions on e-scooters and make helmets compulsory
The Association of Personal Injury Lawyers is calling on Department for Transport to enforce speed restrictions on e-scooters and make helmets compulsory for riders ahead of anticipated government consultation on legalising privately-owned e-scooters.
E-scooters come with significant risks and require regulation: Axa’s Distefano
Axa’s managing director for home and motor Marco Distefano has urged regulators and insurers to get to grips with the risks presented by e-scooters, though they remain illegal on UK roads.
Data Analysis: Awareness campaign needed for drivers before accelerating introduction of AVs
Exclusive: A survey commissioned by Post found there are significant gaps in knowledge when it comes to self-driving vehicles, prompting calls for more education of drivers on the distinction between driver assistance and self driving.
OIC portal figures don't show true picture of reforms as driver behaviour has changed with Covid
As driver behaviour changed following the Covid pandemic, it is difficult to draw firm conclusions on the impact the whiplash reforms have had on the number of claims coming through the new system, a conference has heard.
Transport secretary to ‘crack down’ on private e-scooter market
Transport Secretary Grant Shapps suggested the transport committee will announce the government’s plans for non-trial e-scooters in the Queen's Speech, as he pledged to “crack down” on sales of e-scooters that do no meet standards.
Vnuk cut gets Lords committee green light
The Motor Vehicles (compulsory insurance) Bill, which looks to amend the controversial Vnuk Law, has passed through the Lords committee.
Highway Code updated for self-driving vehicles as education concerns persist
The government has confirmed changes to the Highway Code to ensure the first self-driving vehicles are introduced safely on roads.
Fears OIC portal is not meeting objectives as unrepresented claimants make up less than 10% of users
Latest figures from the Ministry of Justice show that unrepresented claimants still make up less than 10% of those using the Official Injury Claim portal, as concerns grow that portal is not meeting objectives of being “consumer friendly”.
Intelligence: Our duty to protect must begin now
Protect Duty legislation has been touted as a way to reduce the potential for catastrophic events from terrorist attacks at publicly accessible locations, and it is likely to affect public and employers’ liability polices. But, as Edmund Tirbutt reports,…
Insurers to save £2bn as Vnuk law set to be axed by the end of June
The controversial Vnuk law, which could have created an extra £2bn a year of costs for the insurance sector, is expected to be axed by the end of June as Motor Vehicles Bill passes through House of Lords’ committee stage with no amendments.
Insurance sector faces 'serious consequences' as Northern Ireland sets its discount rate at minus 1.5%
Industry experts have warned the insurance market could face "serious consequences" after the Northern Irish Government Actuary changed the personal injury discount rate to minus 1.5% from minus 1.75%.
Ageas' Adam Clarke on inflation pushing up insurance prices
With inflation at front of mind for everyone, Adam Clarke, chief underwriting officer at Ageas Insurance, explains why its only a matter of time before insurance customers feel the pinch too.
Online Safety Bill expanded to include fraudulent pre-paid adverts
The government has amended the Online Safety Bill to expand its scope to include fraudulent paid-for advertising.
Concerns persist around public understanding of self-driving vehicles
With different levels of autonomous technology available, insurers have warned that an Automated Vehicles Act must be clear on what self-driving cars can and cannot do and this must be communicated effectively.
Self-driving vehicle data sharing rules must be right from day one, insurers urge
Insurers have warned that any duty to disclose data in an Automated Vehicles Act must be right from "day one" to avoid lengthy litigation.
Analysis: E-scooters – the view from Europe
As UK e-scooter trials are extended, Post looks at what lessons the UK could learn from its European neighbours
Industry 'cautiously optimistic' discount rate will be set before NI Assembly dissolves
The Northern Ireland government actuary department will have had less than two months to complete the review of the discount rate before the Assembly dissolves on 25 March, but industry watchers remain “cautiously optimistic” this is achievable.
MoJ publishes simplified claims portal user guide after previous guidance branded ‘off-putting’
The Ministry of Justice has published a five-step guide to using the Official Injury Claim portal after the previous 64-page long guidance was branded as “off-putting” and “complex” by critics.
Analysis: Online Safety Bill changes hailed but no room for complacency
Proposals to add paid for advertising and the offence categories of fraud and financial crime to the Online Safety Bill have been welcomed by the insurance industry but as yet there are no guarantees on the final product.
Tesco offers refunds after 'misleading information' motor insurance renewal breach
Tesco Bank will refund some motor insurance customers following a breach regarding "misleading information" about no claims bonus protection in renewal letters.
Self-driving car users should be off the hook for range of offences, commissions set out
The Law Commission for England and Wales and the Scottish Law Commission have proposed the creation of an Automated Vehicles Act that would shift the responsibility away from drivers of self-driving cars.