Motor
AA sees insurance service revenue fall amid flat group revenue
Revenue in insurance services at the AA fell to £131m (2015: £142m) with an increase in customer churn due to higher motor premiums the cause, according to the company’s results for the year ended 31 January 2016.
Commercial vehicle MGA launches with £30m capacity
A £30m-capacity managing general agency targeting van and commercial vehicle business will be launched in the UK market by the founder of a claims management company.
MIB recruits former West Midlands police head to liaise with the UK's forces
The Motor Insurers' Bureau has recruited a former West Midlands Police Inspector to liaise with the UK's 45 police forces.
Fraudsters are 'hijacking' genuine claims as crash-for-cash detection improves
Hijacking of genuine claims is a new tactic being employed by fraudsters as insurance fraud is increasingly being picked up by insurers
Motor prosecution insurer Road Halo to partner with Arc Legal
Road Halo’s motor prosecution defence cover will be offered as an add-on or stand alone product through a partnership with Arc Legal.
Bank of Scotland launches car insurance with BGL's Junction
Bank of Scotland, part of the Lloyd’s Banking Group, has partnered with BGL Group’s Junction to offer car insurance.
Legal: An opportunity to crack whiplash
The government is making a concerted effort to reduce the number of whiplash claims and consequently reduce the cost of motor insurance
RAC reveals drop in convicted uninsured drivers, but warns IPT rise might reverse trend
There has been a 9% fall in the total number of convictions for driving without insurance among men holding full driving licences, according to a Freedom of Information request made by the RAC to the DVLA.
Saga partners with New Re to 'reduce exposure' underwriting risk
Saga has signed a quota share agreement to cover 75% of the motor policies risks of its in-house underwriter AICL from 1 February.
Unicorn says ‘diversifying’ the next step after Berkshire backing
Unicorn Underwriting has confirmed it will not limit itself to UK commercial lines but aims to move into all classes and territories after partnering with Berkshire Hathaway.
Amwins Group member Unicorn Underwriting gets backing to write motor fleet
US-based insurance distributor Amwins Group will partner with Berkshire International Insurance to enter the motor fleet business, via Amwins’ London-based managing general agent Unicorn Underwriting.
C-Suite Insurer: Esure's Stuart Vann - Fraud and what more the industry can do
Although there has been significant progress, there is more for insurers to do in reducing levels of opportunistic fraud
Political Lobbying: Don't mention the ‘L' word
Smoke and mirrors perpetuates the lobbying mystique but there is no need to bring in outsiders if there is someone with know-how and who can put together a well presented case
Europe: Sogaz stands out in the Russian market
The Russian insurance market showed modest growth according to last year's results and the market leader Sogaz stands out in particular among other insurance companies
Lowest investment returns since 2001 'biggest reason' for Lloyd’s profit fall
Lloyd’s finance director John Parry said the market’s lowest investment returns in 14 years was the main factor behind its £900m profit plunge in 2015.
Budget 2016: Safe Harbour lanes mooted as UK shifts gears on autonomous vehicle investment
A £15m ‘connected corridor' from London to Dover, driverless car and truck platooning trials were all outlined as part of the 2016 Budget in a move to retain the UK's position in the market.
Europe - Vnuk: EU ruling is a black cloud over motorsport
The Vnuk ruling - making third-party insurance compulsory - could make motorsport participation too expensive and supporters are calling for an exemption to be made.
Budget 2016: UK to be driverless cars ‘centre for excellence’
A £15m "connected corridor" from Dover to London and further driverless car and truck trials were all announced in today's (16 March) Budget.
Forces Financial offers free telematics with car insurance
Forces Financial, the financial services firm for the UK military, is offering a free telematics device with all new car insurance policies from 21 March.
Hastings sees GWP rise 27% as it announces first dividend
Hastings has reported a 27% increase in gross written premiums to £614.9m (2014: £483.4m) for the 12 months ended 31 December 2015 and expects to pay shareholders a maiden dividend of 2.2p per share.
Over-50s worst hit from motor premium hike
Those over the age of 50 are being worst hit from the rise in motor insurance, according to insurance market researcher Consumer Intelligence.
Carrot suggests IPT exemption for young drivers
Telematics provider Carrot wants Chancellor of the Exchequer George Osborne to exempt young drivers from paying insurance premium tax if they buy an approved safe driving telematics programme within one year of passing their driving test.
IPT could rise to 12.5% at March budget, AA warns
The AA has warned that insurance premium tax could rise from 9.5% to 12.5% in next week's Budget announcement.
Hiscox-owned Direct Asia sells Hong Kong division to Well Link
Global insurer Hiscox has decided to sell the Hong Kong division of Direct Asia to Well Link for an undisclosed sum.