Politics
Quiz of the week - 18 March
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Budget 2016: FCA to regulate claims management companies
The government has transferred responsibility for regulating claims management companies to the Financial Conduct Authority after accepting the recommendations of the independent review into the regulation of CMCs.
Budget 2016: Osborne increases IPT 0.5% with funds raised to be spent on flood defences
Insurance premium tax will rise again with Chancellor of the Exchequer George Osborne today (16 March) announcing in his Budget speech a 0.5% increase effective from 1 October.
CII's Fisher proposes insurance apprentice 'buddy scheme' to government
Sian Fisher, CEO of the Chartered Insurance Institute, has written to the government to propose an insurance buddy scheme for apprenticeships, which would take advantage of the ability to use levy contributions outside of firms.
CII apprenticeships up by 50% since 2013
Technical insurance apprenticeships at the Chartered Insurance Institute have increased by 50% since 2013.
Carrot suggests IPT exemption for young drivers
Telematics provider Carrot wants Chancellor of the Exchequer George Osborne to exempt young drivers from paying insurance premium tax if they buy an approved safe driving telematics programme within one year of passing their driving test.
Industry bosses unite to warn government against further IPT hike
The industry is rallying against a further potential increase in insurance premium tax ahead of the 16 March Budget.
Europe: Telematics and the gender directive
The Gender Directive put a brake on insurers' underwriting purely on the basis of gender. So has it encouraged the development of telematics which helps them price in way that does not differentiate rates between males and females?
Esure responds to Lords on whiplash debate
Esure has responded to a House of Lords debate in which one of its cases was used as an example of why the UK is known as the "whiplash capital of the world".
GI CEO's urge against IPT increase in letter to Osborne
Twenty-three general insurance executives have written to Chancellor of the Exchequer George Osborne ahead of the 16 March Budget announcement, urging against a further increase in insurance premium tax.
US sanctions strong disincentive for Iranian cover despite lifting of EU restrictions
Banks' reluctance to process payments is a major barrier for insurers wanting to conduct Iran-related business following European Union sanctions relief last month, while legal research has found remaining US primary sanctions are quelling the appetite…
Theresa May visits Ifed officers as new fraud taskforce is launched
Home Secretary Theresa May MP visited officers and staff from the Insurance Fraud Enforcement Department last week as she launched a new fraud taskforce geared towards achieving a more joined-up approach to tackling fraud.
CII boss Fisher urges industry to seize opportunity on balancing gender pay
One of the most high profile women within the UK general insurance community has urged the industry to become a “model example” of how to balance gender pay in the financial services sector.
Spotlight back on GI equality as government gender pay gap plans are unveiled
General insurers are pushing ahead with plans to strengthen workplace diversity and equality in the industry amid government proposals to force large companies to reveal their gender pay gap.
ABI warns against further IPT hike in March budget as home premiums rise 3.1% in three months
The Association of British Insurers has warned the government against rolling out a further rise in insurance premium tax in the Chancellor’s upcoming budget, as independent research reveals a 3.1% rise in home premiums in three months.
Industry will have time to deal with business implications of Brexit
Market commentators are divided over whether it is too early to start contingency planning ahead of the planned referendum on the UK's membership of the European Union, despite a senior Lloyd's official warning the sector to be prepared for all possible…
MoJ proposes capping CMCs' PPI fees
The Ministry of Justice has proposed capping fees charged by claims management companies handling mis-sold payment protection insurance claims, in a consultation launching today (15 February).
The Post Power List 2016
In a year where regulation, natural disasters, consolidation and cyber/digital again look set to make waves, and when the country could learn if it’s in or out of the European Union, Post had a mind mapping session – with a bottle of wine – to see who…
IPT to blame for increase in building and contents premiums
The cost of buildings-only and contents-only insurance rose 3.5% in the most recent quarter, which can be largely attributed to the Insurance Premium Tax hike, according to the Association of British Insurers.
Political Violence: Trail of ruination
It is not just people who are at risk from terrorists; economies are also the targets – so what can insurance offer as protection?
UK authorities right to flag Solvency II concerns prior to 2018 review
Wide-ranging criticism of the nascent Solvency II regime by the UK has received initial support, despite the fact that the regulatory system is little over a month old.
Competition concerns spark UK government's call for Solvency II changes
Certain elements of Solvency II could be changed if concerns expressed by the UK government and regulators about the EU regime sparking anticompetitiveness are heeded.
Industry urged to flag implications of stricter health and safety rules
Allianz Commercial has highlighted the role of insurers and brokers in ensuring clients are fully aware of their health and safety responsibilities in light of the introduction of stricter sentencing guidelines.
Bailey challenged to prove his independence in FCA role
Incoming Financial Conduct Authority CEO Andrew Bailey has been challenged by an MP to prove his independence from the government after accusations he was "hand-picked" by Chancellor of the Exchequer George Osborne to take on the role.