Politics
Insurers ask for two more years to implement IFRS 17
Insurance associations from around the world are asking for a two-year delay in the implementation of the International Financial Reporting Standard 17 for insurance contracts.
Theresa May pledges to take action against dual pricing
Prime Minister Theresa May has vowed to take action against companies that impose a “loyalty penalty” on customers.
Top 100 UK insurers 2018
In 2017, the combined underwriting results of the largest 100 UK non-life insurers improved but remained in the red. How well did insurers perform under pressure from strong competition and unfavourable claims trends?
Over 20 start-ups pledge support for proposed insurtech trade body
Over twenty insurtech start-ups have today pledged their support for a new alliance which aims to ultimately evolve into a fully fledged specialist association.
RSA's Carolyn Mackenzie on the delicate balance struck by whiplash reforms
Carolyn Mackenzie, director of complex claims at RSA, argues that whiplash reforms are striking a delicate balance well.
Docu-Video: The future of drone regulation
Kennedys experts from around the globe discuss the future of drone regulation
Blog: Technology - right or wrong for claims (or both)?
Insurers building the new claims portal must be careful not to force clients down a path they don’t wish to go argues Minster Law director of claims Marcus Taylor, who points to public concerns over technology as a major obstacle to overcome
Insurers will not be forced to pass on whiplash savings
Insurers will not be required to pass on savings from whiplash reform to customers, but they will have to report what those savings are.
Blog: The gaping hole in the FCA regulation of CMCs
The Financial Conduct Authority’s consultation into claims management companies has a gaping hole, warns Kurt Rowe, associate at Weightmans, explaining why it matters for insurers.
Insurers to be held to account over whiplash savings
A government amendment to planned personal injury reforms could see insurers have to prove to the regulator that they are passing on savings to customers.
Government goes ‘full steam ahead’ on whiplash reforms
Insurers have welcomed the progression of hotly anticipated personal injury reforms through Parliament, however yesterday’s events in Westminster have whipped up fresh disapproval from the legal sector.
Commercial insurance fraud: Improving detection
There might be disagreement as to how large the gap is between the resources committed to combatting commercial fraud when compared to personal lines – underlined by the recent Post/Crif research. But, there is at least some consensus around a lack of…
Analysis: Whiplash bill faces bumpy ride through parliament
Vocal opposition to the Civil Liability Bill is ramping up as MPs prepare to debate it in its second reading.
CMC regulatory burden should fall on insurers too, argues legal sector
Claimant lawyers have slammed the financial watchdog’s proposal to regulate claims management companies, arguing it unfairly penalises practicing firms and that insurers should be made to take a share of the burden too.
ABI calls for regulatory certainty as no-deal Brexit advice published by government
A regulatory deal is urgently needed to address Brexit contract issues for the insurance sector, the Association of British Insurers has said.
Construction industry to assess insurance access post-Grenfell
The Construction Industry Council has launched a survey to assess the impact of the Grenfell fire on insurance cover for the construction sector.
Analysis: Pricing climate risks
As climate change becomes tangible, insurers are feeling the heat. Their understanding of the risks could inform not just their underwriting but also their investment strategies.
Updated: Partner Re firms fined €1.5m for Solvency II breach
The Central Bank of Ireland has fined two Dublin-based subsidiaries of Partner Re €1.54m (£1.35m) for breaches of the European Union regulation on solvency requirements.
Liiba urges Prime Minister to rethink post-Brexit equivalence regime for brokers
The London and International Insurance Brokers’ Association has written to the Prime Minister raising concerns over the government’s planned equivalence regime for brokers post-Brexit.
Mass’s Simon Stanfield on how whiplash reform sacrifices legitimate claims
The government's whiplash reforms discriminate against legitimate claimants, whose rights need to be protected, argues Simon Stanfield, chair of the Motor Accident Solicitors Society.
Blog: How will Paul Geddes' decade at Direct Line Group be remembered?
When Paul Geddes took over the role of CEO of Royal Bank of Scotland’s insurance business in July 2009, moving from the retail arm of the bank, and replacing Chris Sullivan, I cannot remember many getting too excited.
Motor market ‘rational’ amid uncertain pricing and whiplash reform: Geddes
The motor insurance market has kept a ‘rational’ head amidst uncertain pricing and changing whiplash reform, Direct Line Group’s CEO Paul Geddes said.
Blog: Whiplash reforms will present operational challenges for insurers, warns a claimant lawyer
Alan Hayes, chief legal officer of Carpenters Group, argues the delayed whiplash reforms will likely bring unintended consequences.
Roundtable: Future-proofing claims for the digital age
Claims has not received as much attention as many front-end processes when it comes to investment, even though it is the moment of truth on which long-term policyholder loyalty can be built