Politics
Cyber liability: Combatting cyber crime
From the £21bn bill for businesses to the inevitable reputation damage, cyber crime can have a devastating impact on UK organisations. So why do so few understand or act on the risks?
Cost of summer floods proves high as industry reports poor six-month results
This year's first-half results revealed a reverse in fortunes for Lloyd's and London market firms, while general insurers took a hit from the summer floods.
Consultation into claims management regulation set to receive muted response
The consultation into how claims management companies are regulated is expected to be met with apathy from legal bosses, amid concerns that their views will be ignored, according to the Motor Accident Solicitors Society.
Labour ministers slam Solvency II anti-competitiveness
The Labour Party has criticised the Solvency II directive for potentially damaging competition in the UK insurance market.
Italian motor and property markets offer opportunities, according to new report
Italy stands at the crossroads of economic and social change, and therefore offers interesting opportunities for the insurance industry.
Claims management companies come in for regulatory consultation
Verbal contract agreements between claims management companies and consumers could become a thing of the past, following the launch of a consultation process by the Claims Management Regulator.
Online exclusive: Will no-fault compensation soon become a reality in Scotland?
The Scottish government has today (20 August 2012) launched a consultation on no-fault compensation north of the border for injuries resulting from clinical treatment.
Philippines finance secretary calls for support for Asian nat cat risk pool
The Philippine government is proposing a local Asian risk pool based on the Caribbean Catastrophe Risk Insurance Facility.
Editor's comment: Pessimism or practicality?
Call me a cynic, but I've long been half expecting those headlines to appear - the ones suggesting that the Statement of Principles might merely be extended, or renewed yet again - despite consistent insurer cries that this 12 year-old sticking plaster…
Statement of Principles extension mooted as flood solution sticking plaster
Extending the Statement of Principles may have to be explored as a stopgap if discussions between industry and the government over a long-term flood risk solution rumble on, despite insurers insisting that they will not back down in this way.
FOS receives more than 1000 PPI claims a day
The Financial Ombudsman Service has revealed that it now receives 1500 payment protection insurance complaints every day, taking the overall total beyond 400 000.
Foreign Office launches travel campaign
The Foreign Office and Abta have unveiled a campaign urging holidaymakers to take out travel insurance, highlighting the dangers of balcony jumping.
Thai officials confident of securing reinsurance for £1bn flood fund to meet demand
The Thai Office of the Insurance Commission is to seek extra reinsurance from international players to meet demand for the state-owned natural catastrophe fund.
Thai insurers back new E-claim service for RTAs
Victims of car accidents in Thailand will be treated by hospitals whether they have insurance or not under a new scheme launched by local insurers and the Office of the Insurance Commission.
Indian insurers set to agree $50m of cover for Iranian oil ships
Indian insurance companies look likely to agree to $50m cover per voyage with Iranian crude oil on risk for collision and spills.
Cash settlements: Morally wrong?
The morality of cash payments to tradesmen came to the fore again last month, but what does it mean for the insurance industry? MA Assist's Paul Hayman talks to Post.
FSA enforcement appointment wins backing of legal expert
CMS Cameron McKenna boss Simon Morris has praised the appointment of Tracey McDermott as FSA director of enforcement, describing her as "clear, tough and determined".
Latest AIG share sale to net US Treasury $750m
The US government expects to receive $750m (£481m) from the latest sale of stock held in American International Group.
CILA adds voice to calls for Riot Act reform
The Chartered Institute of Loss Adjusters has thrown its support behind calls by the government and the Association of British Insurers to reform the 1886 Riot Damages Act by pledging on-going technical assistance to its members.
Discount rate consultation: How should it be set?
On Wednesday, the Ministry of Justice published a long-anticipated consultation into the methodology used by the Lord Chancellor in setting the discount rate for personal injury damages. But what exactly is being consulted on, what options are being…
India's government U-turns on tanker exemption
The Indian government has said that permission for Indian tankers carrying Iranian crude will be given on a case-by-case basis, a shift in position from the general exemption declared previously.
Two-year wait ends as PI discount rate consultation launched
The Ministry of Justice has called on stakeholders to respond to the long-awaited discount rate consultation, which it finally launched yesterday.
Your say: Empty words on historic claims
Malcolm Tarling's comment in the 19 July edition of Post that the Association of British Insurers’ opposition to an Employers' Liability Insurance Bureau is based on the belief that the Employers' Liability Tracing Office "should help significantly in…