Motor
Carole Nash sees marginal profit increase as turnover drops
Carole Nash reported increased pre-tax profits of £3.94m for the 12 months ended 31 December 2014 (2013: £3.93) despite a £1.5m drop in turnover for the period.
My Licence attracts 18% of motor market in opening six months
Around a fifth of the motor insurance industry is using the My Licence scheme, six months after the joint initiative between the Motor Insurers' Bureau and the Driver and Vehicle Licensing Agency went live.
Swift MID policy cancellation advised as 'archaic' certificate rule is scrapped
Insurers have been advised to promptly update the Motor Insurance Database to avoid continuation of liability after the "archaic" rule requiring a motor insurance policyholder to return their certificate of insurance in the event of cancellation was…
Roundtable: Big Data: What can big data do for the insurance industry?
With big data playing a bigger role across all industries, the big question is what it can do for the insurance sector?
New uninsured drivers' agreement signed off
The Motor Insurers' Bureau is to implement an updated uninsured drivers' agreement that will come into force for accidents occurring on or after 1 August 2015.
AA sees spate of motor claims from ‘giant' hailstones
AA Insurance estimates hailstorms last week in the north east of England have damaged 1700 cars worth up to £1.5m.
Drivers warned of new crash for cash tactic
Motorists have been warned about an aggressive new strain of the ‘crash for cash' scam that is increasingly being used by opportunistic criminals.
ABI defends use of age as motor rating factor
The Association of British Insurers has defended the higher price paid by old and young drivers for their car insurance with the publication of new data showing the link between accident frequency, claims costs and age.
MIB database to become motor liability trigger following paper certificate changes
Insurers will no longer have to pay third party motor claims for policyholders whose insurance has been cancelled following the implementation of the Deregulation Act this week, according to the Motor Insurance Bureau’s Technical director, Paul Ryman…
Saga completes Bennetts acquisition
Over 50s insurance specialist Saga has completed the acquisition of motorcycle insurer Bennetts for £26.26m in cash.
AA buys 49% stake in Indian roadside assistance venture
The AA has launched a five-year joint venture with Indian roadside assistance provider TVS Automobile Solutions to provide operational expertise to develop its assistance business in the country.
Motor fraudsters growing in sophistication, Keoghs warns
Law firm Keoghs has warned of higher levels of sophistication by fraudsters, who are becoming more aware of the detection methods used to catch them out.
FCA gives Markerstudy's Chaucer purchase green light
Markerstudy's bid to acquire Chaucer's UK motor business has been approved by the Financial Conduct Authority.
Roundtable: Telematics: a move into the mainstream
Will the falling cost of telematics devices see the technology move away from exclusively targeting young drivers and into other sections of the motor market?
C-Suite - Insurer: Driverless cars gathering pace
The barriers preventing widescale adoption of autonomous vehicles are slowly being broken through, says Kenny Leitch.
Legal Update: Look both ways
Contributory actions of pedestrians should be considered when mounting a defence, says Richard West.
Widespread telematics adoption questioned despite growing young driver uptake
More than one in five (22%) of young male drivers have telematics insurance policies, yet mainstream adoption of the technology remains a long way off, according to research conducted by Consumer Intelligence.
Blog: mobility scooters and the law
It is estimated there are around 350,000 people in the UK who regularly use mobility scooters. Following the European Court of Justice decision in Vnuk v Zavarovalnica Triglav, the Department for Transport is considering the impact of the case on the…
Tough motor conditions cause Moody's to downgrade France outlook
Moody's has changed its outlook for the property and casualty market in France from stable to negative, reflecting strong deterioration in motor insurance profitability.
Motor insurers warned against drawing from reserves in face of falling profits
The motor insurance market is expected to fall back into the red this year despite it continuing to be propped up by hefty reserve releases and rising premiums.
Young drivers buck the trend for rising cost of cheapest premiums
The cheapest premiums for young drivers fell by 10.3% over the past 12 months, bucking a trend that saw the lowest rates for all other motorists rise by 0.3%.
Blog: Telematics - driving fleets forward
Ask a White Van Man if he'd like a ‘spy-in-the-cab' black box and you'll get a colourful answer. But what if that black box could save lives?
MIB reports 4.6% rise in hit-and-run accident claims
The number of claims relating to hit-and-run accidents increased 4.6% between 2013 and 2014, according to the Motor Insurers' Bureau.
Industry defends data collection practices in light of CMA report
Insurers have defended their data collection processes following the publication of a critical Competition and Markets Authority report and calls from a consumer champion for greater transparency around how telematics data is used.