Motor
Insurers braced for Isle of Sheppey crash claims
Insurers are expecting a steady influx of claims following the Isle of Sheppey crash last week, which involved more than 130 vehicles.
MIB 'live-tweeting' police motor seizures
The seizures of uninsured cars by the Metropolitan Police will be broadcast live over Twitter today.
SME: On board the enterprise
The SME space is a key battleground for the future of the industry. But if SMEs can do business direct online, where does that leave brokers? By Mark Sands
140 000 uninsured cars seized annually
The Motor Insurers’ Bureau has revealed approximately 140 000 uninsured cars are seized by police each year.
Admiral’s ABSs will not contribute 'materially' to group’s profits
Admiral’s joint legal ventures with Lyons Davidson and Cordner Lewis will not “make a material contribution in the foreseeable future”, according to the insurer’s chief financial officer Kevin Chidwick.
Ten partners with Alps
Independent commercial broker network Ten Insurance Services, has appointed Auto Legal Protection Services as its preferred partner to provide a range of legal protection products and services to its members.
Admiral's shrinking UK motor share behind 7% fall in H1 turnover
Motor insurer Admiral saw turnover fall 7% to £1.089m in the first half of 2013, down from £1.169m in the first six months of 2012.
Industry hits back in fraud jail debate as insurers win crash-for-cash cases
Insurers have hailed a recent string of crash-for-cash fraud court victories – where a judge warned the public they risk prison if they participate in insurance fraud – as a victory against criticism of jail sentences for fraudsters.
Bennetts reports rise in customer engagement and sales
Bike insurance specialist Bennetts has revealed strong year-on-year growth, recording 10% uplifts in both total new customer sales and renewals.
Major insurers to contribute to No Claims Discount database
Lexis Nexis Risk Solution has secured contribution commitments with major brokers and insurers that account for approximately 45% of the motor insurance market.
Non-standard risks: Playing it safe
With increasingly cautious insurers regularly redefining what should be classed as non‑standard risks, is expertise available to deal with the challenges they present?
Motor rates up 2% in Q2 as niche market outpaces standard classes
The non-life insurance market was flat overall last month as rising rates in property, motor and US casualty lines offset rate reductions in reinsurance, according to a Hampden report.
LV launches wider motorcycle cover
LV has launched a motorcycle product offering increased cover including replacement cover for bikes under six months old.
General Legal Protection MD speaks out on claims culture
The ease with which the current insurance claims system can be abused contributes to the compensation culture in the UK, General Legal Protection managing director André Scruton says.
Carole Nash turnover improves despite shrinking market
Turnover at motorcycle broker Carole Nash improved by nearly 5% in 2012 while the company’s profit dropped by £400 000.
NAB calls for investigation into written-off vehicles
The National Association of Bodyshops is urging the Competition Commission to undertake further investigations into vehicles that have been written-off following claims that their number has increased.
Motor profitable for just one-third of insurers in 2013 says E&Y
Only one-third of UK motor insurers will make a profit in 2013 according to EY.
Opportunities reducing for China motor tie-ups, says KPMG
Foreign insurers are looking to capitalise on the opening of the motor market and rising M&A activity in China. This follows the removal of restrictions to write compulsory third party liability insurance, according to a new industry survey by KPMG.
MIB welcomes uninsured drivers' fine increase
The Motor Insurers’ Bureau has welcomed the £100 increase to the fixed penalty fine for uninsured drivers. The fine is now £300.
APU warns against 'flash-for-crash' scam
The Asset Protection Unit is warning against a new motor insurance scam coined “flash-for-crash” where fraudsters flash their lights to give other drivers the right of way and then crash into them on purpose.
Motor offence reforms 'not tough enough' claim AA members
The vast majority of drivers surveyed by the AA believe motor offence reforms that bring the fixed penalty for driving without insurance up from £200 to £300 are not stringent enough.
New senior fleet underwriter for Xbroker
Moorhouse subsidiary Xbroker has appointed David Grimsey as senior fleet underwriter.
Motor sector cites rates and reforms as COR soars
Motor insurers have bemoaned the impact of rock-bottom rates on their first-half figures, prompting some industry leaders to rule out further rate reductions in the second half of the year.
Penny Black's Insurance Week - 15/22 August 2013
Despite reports of a fall in car insurance premiums, it seems some firms still charge rates well above what consumers would consider good value.