Motor
Telematics broker becomes member of the IFB
Telematics broker, Carrot Insurance has become a member of the Insurance Fraud Bureau in a move that will see both parties sharing data with one another.
Admiral to raise motor premiums by 10% following Ogden
Admiral will increase premiums by a further 10% in coming months following a double whammy of the Ogden rate cut and the hike in the Insurance Premium Tax.
Charles Manchester on brokers using unrated insurers
Brokers are regulated by the Financial Conduct Authority, so they don't really come into contact with the Prudential Regulation Authority, which is primarily concerned with the soundness of insurers, ensuring protection for policyholders.
Interview: Ross Barrington, Markerstudy
Ross Barrington was recently appointed managing director of retail at Markerstudy. Will Kirkman sat down with him to discuss what lies ahead for him and the group.
New South Wales signs legislation to replace insurance emergency levy
The state of New South Wales has signed legislation this week to end the insurance tax to fund emergency services.
Direct Line to insure Tesla drivers
Direct Line will now insure Tesla drivers as part of a developed partnership between the two companies.
Axis to take £41m Ogden rate hit
Specialty insurer and reinsurer Axis Capital will take a £41m hit from the reduction in the Ogden discount rate.
March 2017 Post: Census and CII CEO
My one-year-old just started toddling. She was so proud after pushing her walker to the other side of the room that she applauded herself. As a result, she lost her balance and landed on her bum.
Gibraltar insurer withdraws £20m UK motor capacity in wake of discount rate cut
A Gibraltar insurer has become the first to withdraw capacity to a UK managing general agent in the wake of the discount rate cut.
Hastings posts profit and expansion plans despite £20m discount rate hit
Hastings has made a 5% growth in profit despite taking a £20m hit from changes to the Ogden discount rate.
Principal acquires motorcycle book
Principal Insurance has acquired the motorcycle book from Rampdale, adding 7000 policies to its portfolio.
Biba commits to reducing premiums for young drivers
The British Insurance Brokers’ Association is set to urge the government to support its plan to reduce driving premiums for young drivers.
Fatal crash for cash scammers given prison sentences
Three crash for cash fraudsters have been sentenced after their scam killed an 88-year-old woman.
Taking a driverless car for a spin
UK projects are revealing the insurance implications of autonomous vehicles
Insurers' share prices tumble as profits hit by discount rate changes
More insurers have posted swingeing losses as a result of the discount rate cut.
Insurers to face £3bn bill from discount rate cut
Insurers could face a £3bn bill from the discount rate cut, with individual motor premiums rising by an average of £100.
Industry reacts to discount rate cut
Live reactions from the market to the decision to slash the discount rate (please bear with us as this page can take 30 seconds to load).
ABI hits out at ‘crazy’ discount rate decision, claiming it could affect 36 million motorists
The Association of British Insurers has warned that cutting the discount rate so severely was a “crazy decision” that will affect millions of motorists.
Direct Line hit by £230m profit blow from discount rate cut
Direct Line will see a blow to profits of up to £230m from the discount rate cut, the company said.
Admiral sees profit hit of up to £100m from discount rate cut
The discount rate cut will add between £140m to £175m to Admiral’s claims settlement bill, the insurer said.
Allianz calls for clarity over subrogation in driverless cars bill
Allianz said it is looking forward to “more clarity” over whether insurers have access to collision data should a driverless car be involved in an accident.
Blog: Insuring automated vehicles will require data sharing
Private and commercial vehicles with advanced automated functions are going to gradually enter the UK market over the next few years. In addition to changes to the regulations governing vehicle type-approval, a number of amendments need to be made to the…
Blog: Usage-based insurance, an untapped opportunity
The growing usage-based insurance market is an opportunity for insurers, but there are some barriers yet to overcome.
Telematics data helps to disprove fraudulent car hire claim
Information gathered from blackbox telematics has been used successfully to reveal a dishonest customer claim involving a hire vehicle.