Motor
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.
Expected discount rate cut shaves £10m profit from ERS
The expected discount rate reduction has shaved off £10m of profit from motor insurer ERS.
Government to raise small claims track limit for whiplash to £5000
The Ministry of Justice has confirmed there are to be fixed tariffs capping whiplash compensation payouts.
Allianz open to making acquisitions following strong results
Allianz has said that it is open to mergers and acquisitions within the UK market following a return to profit in its full year results.
James Hallam acquires Motor Race Consultants
James Hallam has completed the acquisition of Motor Race Consultants Insurance Services.
Discount rate change could cost motor insurers £4.9bn
Motor insurers and reinsurers could face reserve charges of £4.9bn as a result of changes to the Ogden discount rate.
The Polish insurance market and its prospects
Price wars in the motor sector have contributed to poor results for Polish insurers, but the market could be shaken up by upcoming distribution rules and potentially growing demand for property, liability and cyber policies.
Six insurtech start-ups to watch in 2017
To celebrate the return of the Post Digital Insurance Collective, I thought I would take another of my periodic looks at some of the newer start-ups in the insurtech space with some connection to the UK.
Just Miles plans to help low mileage drivers get fairer polices
Just Miles is planning to launch an on-demand insurance service for low mileage drivers in a bid to make insurance fairer.
Legal Update: Motor's waiting game
The motor claims market is currently sitting in that state of indecision that business - and pilots - like to call ‘a holding pattern' as it awaits three major government consultations. These, to push the aviation analogy to its fullest, are hovering…
Sun Life ventures into general insurance with Junction partnership
Junction, part of BGL Group, has signed a five-year contract to provide home and motor insurance products to life insurer Sun Life.
Legal expenses insurers to face hit from whiplash reforms
Firms offering legal expenses insurance could face heavy losses from "draconian" whiplash reforms.
Week in Post: Darts, brokers and wooden spoons
The first rule is that you shouldn’t talk about it, but nevertheless I had the pleasure of hearing all about Post’s team visit to trendy Shoreditch darts venue Flight Club this week.
Government sets out insurance framework for driverless cars
The government will set out a framework this week for insurance for driverless cars, a move that has been welcomed by insurers.
AA prosecutes ghost brokers with Iovation's fraud force community
AA Insurance has successfully prosecuted a ghost broking fraud ring through the use of Iovation’s peer-driven fraud force community.
Uninsured drivers: clamping down
Large numbers of uninsured cars have been seized but many vehicles continue to drive around uncovered