Motor
Europe: How did the Western Sanctions affect the Russian insurance market?
At the end of January the Council of the European Union agreed to extend existing sanctions against Russia. This move comes a year on from the introduction of the first set of sanctions, and now we can estimate its impact on the Russian insurance market.
Law firm complains that claimants 'made to feel like criminals'
A claimant law firm has complained that people injured in road traffic accidents are being made to feel like "criminals" by insurers.
Seasonal competition triggers marginal drop in Q1 motor rates
Motor insurance rates are expected to continue upwards despite a slight reduction caused by seasonal competition during the opening quarter of the year.
Markerstudy GWP to move north of £900m following Chaucer deal
Markerstudy has reached an agreement to acquire Chaucer’s UK motor business in a deal that will extend the insurer’s grow written premium to in excess of £900m and increase its headcount by 430.
MIB to take action as decline in uninsured drivers slows
Insurers have conceded they are largely powerless to prevent an uptick in uninsured drivers after the Motor Insurers' Bureau reported the number of motorists without insurance had “plateaued out” after a decade of steep decline.
Insurance fraudster given suspended sentence
A Liverpool man who manipulated an insurer's website to get £10,000 worth of car insurance for £10 has been sentenced.
Quiz of the week - 2 April
Test your knowledge of this week's industry news stories with our just for fun quiz.
10 found guilty in £1m fraud scam
Ten people involved in a £1m crash-for-cash scam have today been found guilty of conspiracy to defraud at the Manchester Crown Court.
Motor market constraints not Gibraltar-specific, GIA says
Market constraints that contributed to Gibraltar-based underwriter the Service Insurance Company ceasing to write business are likely to felt by motor insurers Europe-wide and not just in the UK overseas territory, the Gibraltar Insurance Association…
Volkswagen and Ageas team up for new motor proposition
Ageas UK and Volkswagen Financial Services have entered into an agreement that will see customers buying an Audi vehicle receive a new, fully branded motor proposition from the insurer.
Europe: Major Events in the Russian Insurance Market in Q1 2015
Paul Koshik looks back at the first quarter of this year in the Russian insurance market
Further insurer run-off expected in Gibraltar as others plot arrival on The Rock
Several Gibraltar-based firms in danger of entering run-off are under intense regulatory scrutiny, according to market insiders, while the British overseas territory's financial watchdog says it has a number of interested parties on the hook to establish…
Principal's Dublin launch expected to stir up Irish market 'complacency'
Manchester-headquartered Principal Insurance is fully trading in Ireland after completing a pilot phase that has seen the broker offering quotes to Irish bikers for the past few weeks.
Bank of Scotland to offer own-brand car insurance through Junction deal
BGL Group's affinity arm Junction has added two motor insurance propositions to the Lloyds Banking Group insurance offering including a Bank of Scotland-branded motor insurance product.
Indemnity Guarantee Assurance enters administration
PWC has been appointed the administrator to Indemnity Guarantee Assurance which was placed into administration on 23 March after directors deemed it to be insolvent.
Lloyd's supportive of syndicates that expect to turn motor profit
Lloyd’s motor book produced a calendar year combined ratio of 106.4% (2013: 108.6%) in a market described as competitive by Lloyd’s director of finance, John Parry.
Gumtree ghost broker jailed for two years
A car rental firm owner who made £65,000 selling invalid motor insurance was jailed today for two years at the Old Bailey (26 March).
AA posts 1% increase in revenue as it unveils refinancing plan
The AA posted a 1% increase in revenue to £983.5m for the year ended 31 January 2015, preliminary figures published today revealed.
ERS puts 380 staff on notice as it targets 90% COR
Specialist motor insurer ERS today put 380 staff on notice of redundancy ahead of the closure of its Brentwood office.
Closing Gibraltarian underwriter warns of SII pressures
The chairman of Gibraltarian underwriter Service Insurance Company said UK motor market pressures and the looming Solvency II deadline in 2016 led to the firm deciding it was not "economically sensible" to continue operating.
DfT and industry players discuss scope of Vnuk legislation
Industry leaders are working with the Department for Transport to determine if certain vehicle classes should be taken out of European Union legislation that expands the requirement for motor insurance, amid fears of a future claims influx.
AA calls for government to back Ifed expansion amid increased CMC activity
Nearly two thirds of UK motorists have been cold-called by claims management companies in the past year, with 36% contacted more than 10 times, according to research conducted by AA Insurance.
Penny Black's insurance week - 24 March
There was much talk about the imminent arrival of driverless cars at Post's Motor Claims 2015 event, but those dedicated visitors who stayed until the penultimate session of the day - such as Penny, a keen motorist who is often found pootling around town…
Thailand's TQM expects to grow 11% in 2015
Thai motor broker TQM is confident of sustained growth this year despite economic difficulties in the country.