Motor
Application fraud: Revving up rates
In an effort to bring down premiums, many drivers are telling 'white lies' on their application forms, compelling brokers to beef up their own fraud detection alongside insurers.
Polish high court upholds Link4 judgment
Poland's highest court has upheld an earlier ruling that an advert for Polish motor insurer Link4 had caused offence to some parties but dismissed claims that it had misled customers.
AA policyholders keep no claims discount in uninsured driver crashes
The AA's panel of insurers has agreed that the broker's policyholders will not lose their no-claim discount or excess following a crash involving an uninsured driver.
Tesco launches van insurance with Axa
Tesco Bank has launched its own van insurance policy.
Admiral investors advised to “sell” as analysts question future growth
Admiral stock has been branded too expensive despite the motor insurer being highly profitable in an “inherently unprofitable” industry.
QBE wins Gallagher deal
QBE Europe has been appointed to underwrite public sector business for AJ Gallagher subsidiary RMP from 1 July.
Axa Gulf launches roadside assistance with money back guarentee
Axa Gulf has launched a one-hour guaranteed roadside assistance service, in case of an emergency or breakdown, for all subscribers.
Quindell buy boosts telematics credentials
Quindell Portfolio has said its acquisition of software solution provider IT-Freedom will provide much-needed extra capacity for July, when it will emerge from the first mover advantage restrictions granted to its insurance technology charter client…
Motor insurers urged to aim for profit
Motor insurers need to do more to improve profitability and return their collective underwriting loss back to the black.
Suspected bogus broker arrested
City of London Police have arrested a suspected bogus insurance broker in a raid on a Bradford home.
IAG mulls Equity Red Star sale as experts debate motor future at Lloyd's
With Insurance Australia Group toying with the idea of selling the largest Lloyd's motor underwriter Equity Red Star, and aggregators controlling more power in this area, the days of motor in the Lloyd's market could well be numbered.
Social Media: The social media circle
With a culture of risk aversion, insurance is not a major social media player. But will the emergence of innovative German player Friendsurance change things?
Editor's comment: Slow demise or new dawn?
Six years ago, the Lloyd's Motor Underwriters Association was subsumed into the overall Lloyd's Market Association – a clear signal that a once powerful force in the car insurance arena had accepted its heyday was long behind it.
Post magazine - 24 May 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Money Supermarket dominates Google search rankings a second time
Money Supermarket came top of the natural search rankings on Google searches for car, home and travel insurance for the second quarter running, online marketing solutions provider Gravytrain has revealed.
Ombudsman blames rise in motor insurance policy complaints on recession
The 26% increase in motor insurance complaints from consumers in the past financial year is "likely to reflect the tougher economic times", according to the Financial Ombudsman Service.
Ombudsman reports 51% increase in PPI complaints
Complaints to the Financial Ombudsman Service about payment protection insurance increased year on year by 51%, and accounted for 60% of all new cases in 2011/2012.
Young driver car insurance amounts to a fifth of salary
Young drivers can pay nearly 20 per cent of their annual salary in car insurance, according to Confused.com.
Commercial lines hurt Allianz's Q1 COR
Allianz has reported UK Q1 gross written premiums up 6.8% over same period in 2011 and a marginally worse combined operating ratio of 97.1% giving the firm its 37th consecutive quarter with a sub-100% COR.
Amlin CEO says three quarters of business has seen rate rises in Q1 2012
Amlin reported this morning that the group's gross written premium for the four months ended 30 April 2012 was up 10.5% at £1.4bn (30 April 2011: £1.3bn). At constant rates of exchange, written premium increased by 11.6% (30 April 2011: £1.29bn).
Expert Opinion: Whiplash - Care not cash is answer to fraud
Independent expert doctor diagnosis of whiplash will only add cost, friction and bureaucracy, says Andrew Pemberton.
Comment: Insurers must partner with car makers to capitalise on telematics
A wait-and-see approach could cost motor brokers and insurers dear, says Ofir Eyal.
Benign weather and rate rises result in record reported profits for insurers
Insurers have reaped the rewards of benign weather and rate rises in catastrophe hit regions, but analysts warn the worst could be yet to come.
Williams denies Accident Exchange settlement claims
Axa boss David Williams has rubbished Accident Exchange's claim that the insurer is reluctant to reach a settlement over the use of Autofocus evidence.