Politics
ABI warns of financial hardship from Riot Act reforms
The Association of British Insurers has estimated for every £10 paid out in compensation after the London 2011 riots only £1 would be paid out under the reformed Riot (Damages) Act.
Flood Re managing agent contract worth £6m per year
The tender for a managing agent for the Flood Re scheme has been published with an estimated annual contract value of £6m.
Justice Committee condemns Government meso claims review
The Justice Select Committee has called on the UK Government to undertake a fresh consultation into the way mesothelioma claims are handled under the Legal Aid, Sentencing and Punishment of Offenders Act 2012.
Industry defends removal of delayed settlement clauses from Insurance Bill
Plans to allow business claimants to seek redress after delays may yet be restored
Trade Voice: What’s changed since 1886?
As we approach the third anniversary of the London riots, the British Insurance Brokers’ Association is submitting its response to the consultation Reform of the Riot Damages Act 1886.
Moody's warns of negative credit impact from Flood Re funding proposals
Moody's has deemed the £100m cap on government contributions to Flood Re credit negative for UK property and casualty insurers.
Independent midwives agree commercial PI solution
Independent midwives have agreed a commercial professional indemnity insurance arrangement allowing them to continue practising under new EU legislation.
MGAA membership hits 93 as original steering group is honoured
Managing General Agent Association chairman Reg Brown has heralded the association’s work in raising regulatory awareness of the booming sector after revealing the MGAA now represents more than £3.3bn of gross written premium.
Insurers adopt watch-and-wait approach to India ahead of proposed FDI changes
The proposed increase in the foreign direct investment cap in Indian insurers from 26% to 49% may not have the desired effect if the conditions for investment are too stringent, according to market commentators.
ABI critical of draft Flood Re finance rules
The Association of British Insurers has deemed the draft rules on the financial management of Flood Re "unworkable" following the launch of a consultation on the scheme's regulations.
Treasury to unveil guide to investing in UK infrastructure
Insurance companies will be among financial services firms targeted by chief secretary to the Treasury Danny Alexander’s guide to investing in UK infrastructure.
Biba heralds 'transparent' Insurance Bill
The British Insurance Brokers’ Association has welcomed the introduction of the Insurance Bill as a means of increasing “certainty over the rules” on contracts between insurers and businesses.
McCafferty ‘outstanding candidate' for Flood Re role, claims Woolgrove
Interim Flood Re chief executive Tom Woolgrove says newly appointed permanent CEO Brendan McCafferty has a unique set of skills to get the scheme across the line.
MPs and insurers warned new licencing act may hinder fraud investigations
Insurers have been warned that the new licencing arrangements for investigators could prove a hindrance, not a help, to their fraud teams.
Treasury minister Morgan handed education remit
Nicky Morgan has been handed a new role as secretary of state for education just over three months after being named as replacing Sajid Javid.
Environment secretary Owen Paterson ‘sacked’
Incumbent environment secretary Owen Paterson will depart the cabinet as part of a reshuffle being announced today, according to reports.
Insurers and government consider risk cover for growing asset-sharing sector
Concerns raised over claims management companies approaching the industry
Biba to formulate guidance on sharing economy
The British Insurance Brokers' Association is to put together guidance on insuring risks for asset-sharing companies following a meeting between industry and government yesterday.
Permanent Flood Re CEO to be named this week
Flood Re Limited will this week unveil a permanent chief executive ahead of the release of a consultation addressing the final scope of the scheme.
Fundamental dishonesty change will have 'unintended consequences' warns MASS
Lawyers from the claimant fraternity have raised concerns over the Transport Select Committee’s latest motor report, with the proposal to strike out claims for fundamental dishonesty and changes in the small claims track singled out for criticism.
In-Focus: Public Sector - Q&A Bill Sulman
Post spoke to Bill Sulman, director for public sector at Aon Risk Solutions, about the common business continuity threats for the public sector and how insurers, brokers and risk managers can work together for mutual benefit.
Insurers seek clarity over tangible returns from infrastructure investment
ABI looks to secure 20-year investment partnership with government
Hong Kong legal changes win captive audience
Recent legislative changes in Hong Kong have set out the government's "determination" to promote the city state as a hub for captive insurance, according to law firm Howse Williams Bowers.