Legislation
General Insurance Fraud Committee hopeful on spam advert legislation
The General Insurance Fraud Committee is hopeful that online advertising will be included in the Online Safety Bill, Clare Lunn, director of financial crime at LV GI and chair of the GIFC told Post.
DfT denies smart motorways debuted prematurely as rollout paused
The decision to pause the introduction of new all lane running smart motorway schemes, which saw 39 deaths between 2015 and 2019, until five years’ worth of data is available has been welcomed by insurers.
NI to change discount rate in New Year
Northern Ireland’s Justice Minister Naomi Long has welcomed the passing of a Bill that will change how the country’s personal injury discount rate is set.
Flood Re CEO warns that flood resilience is not being prioritised
Andy Bord, CEO of Flood Re, has called for increased focus on adaptation measures to cope with climate change that “is already in the system”.
Analysis: Mind the gender health insurance gap
Post investigates allegations of gender discrimination in health insurance and asks how concerns could be addressed
Protect Duty legislation impact to cascade through liability insurance value chain, warns Pool Re
Proposed legislation that will require the owners and operators of publicly accessible locations to mitigate the threat of terrorist attacks will have major implications for the entire liability insurance value chain, Pool Re chief underwriting officer…
Analysis: Saga's ICO fine provides cautionary tale on third-party marketer pitfalls
Saga was fined £225,000 by the Information Commissioner’s Office in September after it was found that its marketing partners had sent millions of nuisance emails, highlighting the pitfalls companies face chasing leads.
MOJ to 'reflect' on visibility of OIC portal
A Ministry of Justice representative has said it will 'reflect' on communication around the Official Injury Claim portal.
OIC portal data raises 'questions' on exceptional circumstances and access to justice
Official Injury Claim data has raised questions among insurers and claimant representatives, with one expert warning trends "strongly" imply teething problems warnings hold true.
Less than 10% of whiplash portal claimants unrepresented
Ministry of Justice data shows that nine in ten claimants using the Official Injury Claim whiplash portal have done so using a lawyer or other representation.
Intelligence: Insuring automated warehouses
With warehouses increasingly deploying robots to help with the demand for next day delivery, Post investigates what challenges automation in warehouses poses for insurers.
Analysis: The claims sector in a post-reform world
The launch of the whiplash portal has made it more difficult for firms to make money handling small claims, leading to firms reassessing their models. Post investigates what the sector will look like in a post reform world.
Listed insurtech market cap surpasses $22bn; motor start-up Adiona plans to take on 'outdated' incumbents; Dale Partners gets Lloyd's green light; and Zurich unveils £750m MGA capacity deal
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Government names John Edwards as preferred pick to lead ICO
The government has named John Edwards, currently New Zealand’s privacy commissioner, as its choice to succeed Elizabeth Denham as the next information commissioner and revealed plans to consult on reforms to the UK’s data regime.
Flood Re confident on lowering levy to £135m for next financial year
Flood Re is confident that its build back better proposals and reduced insurer levy will soon get government approval, CEO Andy Bord has confirmed, as he detailed plans for the organisation to buy lower limits in its own reinsurance programme.
Insurers urge government to revise height-based remit of proposed building safety regulator
Insurers have repeated their calls for the scope of the proposed building safety regulator to be broadened after the government pushed ahead with proposals that met with criticism last year.
Government watching Bill to remove effects of Vnuk ruling 'with interest'
A Bill that aims to remove the effects of the European Court of Justice’s controversial Vnuk ruling from British law has been introduced to parliament.
QOCS comes into force in Scotland prompting claims uptick concerns
Insurers are expecting claims volumes to rise in Scotland as Qualified One Way Costs Shifting goes live.
Analysis: The CMCs out of scope
When the Financial Conduct Authority took over claims management company regulation in 2019, it fired warning shots at the sector. Should the regulator’s remit be widened to cover those firms that don’t come under its surveillance?
Treasury Select Committee calls for fraudulent ads to be tackled in Online Safety Bill
The Treasury Select Committee has criticised the government for a “missed opportunity” to tackle fraudulent online adverts and prevent customers being scammed by fake financial products.
BGL’s Peter Thompson on why the insurance industry must batten down its hatches
Peter Thompson, CEO of insurance, distribution and outsourcing at BGL Group, addresses the crucial importance of operational resilience in a fast changing landscape for the industry.
Cross-sector working group seeks clarity on mixed injury whiplash portal claims
A cross-sector working group has been set up with mixed injury whiplash test cases set to make their way through the courts.
'No doubt' whiplash portal will need tweaking after launch: ABI’s James Dalton
Association of British Insurers director of general insurance policy James Dalton told Post there is “no doubt” the whiplash portal will need fine-tuning, but he is optimistic about the launch.
Aviva faces leaseholder ire over mounting fire safety concerns
Aviva has drawn anger from leaseholders in residential properties owned by an investment fund over the management of fire safety issues.