Motor
Motor rate reductions to end in 2015 say analysts
Motor insurance rates will steadily increase next year after nine successive quarters of reductions according to analysts from Oriel Securities.
Audatex and HPI to provide joint claims solutions for insurers
Claims service provider Audatex and its sister company HPI, the vehicle provenance specialist, are to join forces to develop solutions for the insurance sector.
Motor price rises 'inevitable' as EY forecasts a return to loss-making in 2014
Motor insurance underwriting in 2014 will return to being a loss-making product after just one year in the black, according to EY’s annual UK motor insurance results seminar.
Underinsurance an issue for classic car owners as values soar
Owners of classic cars are being urged to review the value of their vintage vehicles amid claims that unprecedented appreciation has led to inadequate insurance coverage.
CMA proposals 'modestly credit negative' for motor insurers
Proposals for reform within the UK private motor insurance market set out by the Competition and Markets Authority are likely to be credit negative for insurers, according to ratings firm Moody’s.
Insurers voice concerns over prospect of mandatory telematics policies
Analysts predict opt-out system for telematics within next decade
CMA report provides boost but industry bemoans missed credit hire opportunity
Industry concerned inaction on subrogated repair costs prevents level playing field
Editor's comment: Used to disappointment
It is impossible to please all of the people all of the time, but it seems the Competition and Markets Authority has failed to please almost every motor insurer this week.
Add-ons: Under the microscope
The sale of additional products is under immense scrutiny by the Financial Conduct Authority. With the insurance industry pushing resources into self-policing since the motor legal expenses inquiry, has it done enough?
BIA Countdown: Achievement winner reflects: Q&A with Ashton West
Since their inception, the British Insurance Awards have become the unrivalled badge of excellence for the insurance sector, raising standards across the industry through their showcasing of best of breed performance and innovation.
Motor premiums predicted to rise in line with inflation
Motor insurance premiums are likely to start rising over the next 12 months after two years of falling prices, according to Deloitte insurance partner James Rakow.
German motor market to turn a profit in 2014
Premium increases in the German motor market are expected to trigger a sub-100% net combined operating ratio for the first time in seven years, according to a report by Fitch Ratings.
UK General and Lifesure team up for caravan scheme
Leeds-based managing general agent UK General has partnered with Lifesure Group on a scheme for high-end caravan owners expected to generate a minimum of £250 000 gross written premiums in its first year.
Met seizes 100 000th uninsured car in London
The Metropolitan Police Service has seized its 100 000th uninsured vehicle in London.
When is the driver of a car not driving the car?
When is a driver at the wheel of a moving car not actually ‘driving'? The answer in one fatal accident case is an important reminder not to take facts at face value but always to dig deeper.
Biba welcomes ‘encouraging’ competition proposals
The British Insurance Brokers’ Association has issued its support to proposals from the Competition and Markets Authority to improve the UK’s dysfunctional motor market.
Mass critical of CMA stance on repair networks
The Motor Accident Solicitors Society has condemned the findings from the Competition and Markets Authority, which said the watchdog would not investigate repair networks further.
CMA probe provides ‘little respite’ for insurers, says analyst
Proposals from the Competition and Markets Authority issued today will provide little support to the relief for insurers hoping to boost performance, according to Shore Capital analyst Eamonn Flanagan.
Competition watchdog calls for credit hire cap and 'wide' MFN ban
The Competition and Markets Authority has today revealed proposed changes for the UK’s private motor insurance market in a bid to increase competition and reduce costs for drivers.
CHO urges CMA to adopt existing framework for credit hire claims
The Credit Hire Organisation is urging the Competition and Markets Authority to use the existing credit hire claims settlement framework when it issues its final report on competition in the private motor insurance market.
Motor insurers record first profit in 20 years, claims EY
The motor insurance market has recorded its first underwriting profit since 1994, according to figures released by EY this morning.
PPO injury research to help insurers with future risk
The Institute and Faculty of Actuaries has developed a new categorisation for serious spinal and brain injuries aimed at helping insurers better estimate future liabilities.
MIB hails continuous motor cover rules for Northern Ireland
The Motor Insurers’ Bureau has welcomed plans to consult on the introduction of a continuous insurance enforcement scheme in Northern Ireland, bringing the country in line with England, Scotland and Wales.
Bogus whiplash claims driving up motor premiums in East London
East London motorists are paying more than three times more for car insurance than their West London counterparts due to high numbers of bogus whiplash claims, according to research from accident camera company Smart Witness.