Motor
Average motor policy saw £51 drop in 2014
The average cost of a new comprehensive UK motor insurance policy fell by £51 in 2014 to £594, despite late year price increases, according to the Towers Watson and Confused insurance price index.
China's changing motor market
China is introducing more flexibility to its motor insurance market, creating opportunities for foreign insurers to differentiate on price and product design, writes Nicky Burridge
Notable rate rises unlikely in 2015 despite hardening UK market
The soft UK insurance market has been tipped to harden in 2015, although there is still insufficient “pain” across the industry to spark material rate increases, according to sector commentators.
Guy Carpenter boss predicts further shrinkage in reinsurance buying pool
The reinsurance buying pool is likely to continue its ten year reduction, according to Guy Carpenter EMEA operations CEO Nick Frankland, who has called for perspective in relation to falling renewal rates.
CMA publishes draft order from motor market report
The Competition and Markets Authority is consulting on a draft order explaining how changes resulting from its investigation into the private motor insurance market will be introduced.
Welsh MGA and broker first to go live with My Licence
North Wales-based Staveley Head is the first managing general agent and broker to use the My Licence scheme.
MIB's West and Hughes Insurance founder awarded OBEs
Motor Insurers' Bureau CEO Ashton West has been made an Officer of the Order of the British Empire in the Queen's New Year's Honours List.
Prudential finance director James joins Admiral board
Admiral has appointed Prudential's finance director Penny James as a non-executive director.
A&A reports £4.5m loss for 2013
Personal lines broker A&A Group has posted a pre-tax loss of £4.5m in 2013, compared with a profit of £1.17m for the previous year.
Brockman hopes to be ‘last man standing’ after ITB manufacturer link-up
The partnership with Japanese insurer Aioi Nissay Dowa should prolong the life of Insure The Box as motor insurers become steadily obsolete, according to founder Mike Brockman.
Home and motor premiums continue to fall shows Biba price index
The cost of home and motor insurance has continued to reduce in the last year, figures from the British Insurance Brokers' Association and Acturis Insurance Price Index show.
Plowman appointed chair of Older Drivers Task Force, which will seek evidence in New Year
The Road Safety Foundation has confirmed that its trustee and former civil servant John Plowman will chair the Older Drivers Task Force.
Tesco fraudster sentenced to three years after Operation Catcher sting
A fraudster who staged accidents with Tesco delivery vans has been sentenced to three years in prison.
Russian Roundup: Q4 2014
Insurance companies Allianz and AIG closed their business arms in Russia while Rosgosstrakh closed its Belarusian subdivision and continued to receive fines for breaching the law for selling compulsory motor third party liability insurance certificates
Motor premium increases to be reflected in 2015 results
Insurers are unlikely to see any favourable impact from motor premium increases until their 2015 results, according to Towers Watson.
Average UK motor premiums rise 0.3% in November
The average price of a new comprehensive motor policy rose 0.3% to £590 in November; the third successive month of price increases, according to the Towers Watson and Confused insurance price index.
Catlin in 'advanced discussions' to sell Insure the Box
Catlin Group has confirmed it is in advanced negotiations regarding the sale of its interest in Box Innovation Group.
Ageas UK agrees new strategic partnership with Virgin Money
Ageas UK and Virgin Money have entered into an agreement that will see both businesses work together to create a range of home and motor insurance products for the UK market during 2015.
Editor's comment: What a difference a year makes
2014 is coming to a close and so much has happened but will insurers be sad to see it go? It was the year that started with Winter floods estimated to have generated a total bill of £500m and saw Labour Party Leader Ed Miliband demand insurers settle…
Covéa launches new fleet product to boost commercial growth
Covéa Insurance, the UK subsidiary of French mutual Covéa, will launch a new fleet product for commercial brokers this month.
One in 10 car deaths linked to alcohol, says WHO
Following a study, the World Health Organisation has said one in every 10 car deaths is linked to alcohol.
Household pressure to offset improved motor climate in 2015, says Fitch
A halt in motor premium declines and improved commercial performance is expected to see the UK non-life market stabilise in 2015 but this could be offset by increased pressure in the household space, according to Fitch Ratings.
Questgates to introduce minimum standard for motor investigators
Loss adjuster Questgates has unveiled plans to introduce a minimum professional standard for those operating within its motor investigation team by the first quarter of next year.
New vehicle damage repair standard published
A new British Standard for vehicle damage repair has been published by BSI to help repair centres differentiate themselves from their competitors.