Politics
Editor's Comment: FCA finds itself in the crosshairs
It hasn’t taken long for the hunter to become the hunted and, with insurers smelling blood, the Financial Conduct Authority finds itself in the awkward position of being forced to account for its own actions.
High-net-worth firms get behind ABI’s band H stance
The Association of British Insurers' support for including band H properties in Flood Re has been welcomed by high-net-worth firms.
ABI joins calls for Flood Re U-turn on band H homes
The Association of British Insurers is writing to Environment Secretary Owen Paterson in a bid to facilitate the inclusion of council tax band H properties within Flood Re.
Mass concerned at court fee proposals
The Motor Accident Solicitors Society is concerned at the increasing cost of court fees following the release of a Ministry of Justice report today announcing a sliding fee scale for monetary claims.
Climate change outlook sparks calls for increased government flood spend
A report predicting a dramatic increase in European flood risk exposure due to climate change has prompted calls for the UK government to up its spending on flood defences.
Climate change report forecasts increased flooding by 2080
The UK is expected to be among the countries worst hit by flooding by the 2080s, according to the fifth report by the Intergovernmental Panel on Climate Change.
Masojada urges Lords to support Flood Re amendment
Hiscox chief executive officer Bronek Masojada has written to all members of the House of Lords urging them to support an amendment to the Flood Re scheme.
Budget 2014: pension shakeup to open the door for general insurance players
Insurers’ share prices plummet following Chancellor’s annuity vow.
Infrastructure: Building for success
Plans for insurers to invest in infrastructure projects are being hampered by Solvency II.
Trade Voice: Floods are a chance to prove ourselves
Joined-up thinking and a collaborative approach to assisting families and businesses affected by this winter’s floods has been a point of interest.
Regulators must prove value for money as costs hit £664m
The twin peaks regulatory system will need to demonstrate it is providing value for money after a National Audit Office report highlighted escalating running costs and concerns over staff capacity.
Insurance growth action plan boosted by Brokerbility Academy
Brokerbility has launched an academy scheme in a bid to attract people of all ages into the insurance profession as part of the independent broking group's contribution to the government’s insurance growth action plan commitment.
Fitch predicts pressure on Flood Re due to public funds uncertainty
Uncertainty around UK government spending on flood defences could lead to Flood Re facing higher-than-expected claims in the future, according to Fitch Ratings.
IRM criticises government's 'fingers crossed' approach to risk management
The recent flooding episode has highlighted shortcomings in the government’s approach to risk events according to chairman of the Institute of Risk Management, Richard Anderson.
International: Asia: Living with disasters
The insurance community is playing an increasingly important role in helping vulnerable communities in Asia adapt to climate change both before and after a disaster.
Untraced meso scheme payments up £8k
Mesothelioma sufferers unable to trace their employer at the time of exposure are now set to gain boosted settlements, according to the Department for Work and Pensions.
All change in Europe
The European guard is changing, and by the end of the year the UK insurance industry could find the European Parliament and Commission rather harder places to press its case than previously.
CII to ‘name and shame’ firms that fail to get behind apprenticeship scheme
Industry bodies launch initiative aiming to double apprenticeships by 2017.
Insurance industry apprenticeship scheme kick-started
The insurance industry’s bid to double the number of apprentices was officially launched by high-profile figures from the sector at an event hosted by the Chartered Insurance Institute this morning.
Indian opposition to consider increase in foreign investment cap
As Indian political elections loom, the opposition party has pledged to consider raising the foreign investment cap in insurance from 26% to 49%.
Editor's comment: Pressing the advantage home
Prime Minister David Cameron told the nation “money is no object” when he declared the recent floods a national emergency and staked his personal authority on rebuilding damaged UK regions to make them more resilient to extreme weather.
Insurers doubtful government will approve VAT waiver for flood repairs
Business secretary calls for VAT on flood renovation and repairs to be cut to 5%.
C-Suite – Insurer: Where will the tech journey lead?
Insurers should be looking to seize upon the opportunities presented by telematics and driverless cars.
North of the border: All change for personal injury
The Courts Reform (Scotland) Bill promises to streamline Scotland’s civil courts.