Post magazine – 18 December 2014

In our last issue of 2014, we report on the changing face of terrorism, with the future sustainability of Pool Re to be achieved by modernisation in 2015.

The modernisation initiative was given the green light by HM Treasury as part of an agreement that will result in an increase from 10% to 50% of Pool Re's total premium income that it charges to act as an insurer of last resort. It has been suggested the deal, which was ratified by members, could impact the scheme's ability to fund from its own reserves in the event of a major terrorism loss.

Also in the news, market observers claim the Financial Conduct Authority has been left "diminished" by a damning report into its handling of publicity around a life insurance thematic review; and UK insurers are undeterred on sharing society progress despite international Uber concerns.

XL Group’s Nigel Bamber and Jelf’s Phil Barton are in the C-Suite. Bamber argues that action is key to provide good value and communication for customers, while Barton says the challenge facing insurers and brokers is to work out how to adapt in order to thrive in today’s and tomorrow’s paradigm.

Airmic CEO John Hurrell is this week’s Trade Voice, arguing that these days, the contract is everything when purchasing insurance. Meanwhile, Morag Baird reports from North of the Border, looking at the ramifications of the the cross-party Smith Commission.

Katie Marriner meets Peter Staddon. Having completed his first 12 months leading the Managing General Agents’ Association, he tells Post about his future ambitions for the trade body.

Can the way data is used and analysed in the insurance industry pave the way to customer loyalty? In conjunction with Callcredit, Post brought together nine of the sector’s brightest minds in marketing, analytics and e-commerce to ask if data can provide the solution to one of the personal lines world’s biggest problems – customer retention.

Which major players made an impact in 2014 and who will shape the industry next year? We put our thinking caps on - with a bottle or two of wine for inspiration - and decided who should be on the Post Power List 2015.

We wrap up our review of the year with Callum Brodie looking back at general insurance, while Francesca Nyman focuses on the year in broking.

BLM’s Chris Gambs looks at a recent case ruling on future loss of earnings claims for partially disabled claimants. And finally, we look at charities. They require business interruption cover like any other business – but how can they make sure they aren’t paying too much?

Enjoy the read, and we hope you have a lovely Christmas and New Year. See you in 2015!