Politics
Chartered status: Raising standards
Amid an industry-wide drive for improved standards, how will the CII’s consultation on changes to its corporate chartered status criteria affect firms seeking to stand out from the crowd?
US politicians demand investigation into Target data breach
US House Democrats have requested a probe into the data breach which resulted in at least 110 million customers of US retailer Target having personal information stolen.
Progress made in delay over new-build flood feature maintenance
A long-running deadlock on rules designed to protect new housing developments against flooding could be broken amid reports that a deal has been reached over who pays to maintain anti-flood features.
Outer Space Act indemnity cap is welcomed by industry experts
The decision by the government to action a proposal to cap the unlimited indemnity in the Outer Space Act to €60m (£49.4m) has been heralded as a sign space innovation in the UK is “ready for investment”.
FOS unveils 20% budget cut
The Financial Ombudsman has said it will need to recover 20% less from financial businesses to support its budget in the 2014/2015 year, compared with the previous twelve months.
Cost of home insurance expected to fall despite flood claim increases
Growth in price competition could see rate reductions of up to 10%.
Telematics providers push for young driver curfew plans to be scrapped
Green paper on young driver safety postponed indefinitely ahead of debate.
My Licence: Seal of approval
While the My Licence driver data-sharing initiative may have some obstacles to overcome, the industry consensus is that it should benefit all parties involved in motor insurance.
ABI has 'no plans to bring Flood Re forward'
The ABI has rejected calls to bring the implementation of Flood Re forward in the wake of severe flooding over the Christmas period.
L&G invests £159m in infrastructure
Legal & General has invested £159m in acquiring 13 care homes and the building of the new Royal Liverpool University Hospital.
Young driver green paper publication unlikely before 2014
The Department for Transport has said it will not be releasing its green paper on young driver safety until it has reconciled improving safety without restricting young people’s freedom.
Govt and ABI yet to finalise details on leaders programme, Javid says
Financial secretary to the Treasury Sajid Javid said the government is yet to sort out the details around working with the Association of British Insurers on its future leaders programme as part of the UK insurance growth action plan.
Aviva sets aside £500m for investment as insurance growth plan is launched
Aviva has pinpointed £500m for investment in UK infrastructure following a pledge with five other life insurers to pump £25bn into major projects as part of the government’s national infrastructure plan.
Four groups granted super-complainant status to FCA
Four consumer representative bodies have been granted “super-complainant” status by the government for the financial services sector.
Legal Update: Mesothelioma Claims: Ministry of Justice’s mesothelioma reforms only complete half the job
Nick Pargeter says the government is failing both claimants and insurers by abandoning fixed costs.
Blog: Could the UK follow New Zealand's lead and embrace driving curfews?
As the festive season gets into full swing, several insurers are already issuing warnings to policyholders about the dangers of “riskmas”.
Bid to cut red tape set to enhance UK insurance market’s competitive position
Insurance Growth Action Plan aims to remove barriers for UK insurers overseas.
Geneva Association head to step down
The Geneva Association’s Secretary General, John Fitzpatrick, has informed the board that he will not stand for reelection at its general assembly in May 2014.
TSC to unveil report to government’s whiplash response
The Transport Select Committee has agreed to publish its Eleventh Special Report of Session 2013-14 on 12 December.
Career development: CII welcomes government apprenticeships announcement
The Chartered Insurance Institute has welcomed the Treasury's announcement of its gateway project to help people find apprenticeships and graduate training places within insurance.
C-Suite: The spotlight keeps shining
The industry must keep doing the right thing for consumers under the glare of government, says Paul Geddes, chief executive, Direct line Group.
Kennedys concerned about lack of costs control for asbestos claims
Insurance law firm Kennedys has expressed concerns that the government has showed no intention to consider the issue of recoverable fees for asbestos claims.
Government's growth plan tipped to boost takaful market
The government's insurance growth action plan could provide a much needed boost to the UK's commercial Islamic insurance market, according to PwC's Mohammad Khan.
Biba urges change on SME Flood Re exclusion
The British Insurance Brokers’ Association has urged the Water Bill Scrutiny Committee to consider helping the people the bill currently excludes – particularly small businesses.