Articles by Scott McGee
Arron Banks claims Barclays closed his account in 2018
In the midst of the saga surrounding Nigel Farage’s Coutts bank account, Arron Banks has also claimed to have had his accounts shut down.
Former Tif Group doctor suspended for misconduct
Tif Group’s former medical director, Dr Miguel Nadal, has been suspended from practicing medicine for 12 months after a Medical Practitioners' tribunal found his ability to practice to be impaired as a result of misconduct.
Insurance broking sector’s vulnerability to cybercrime uncovered
More than 38,600 pieces of data have been leaked from the top 75 UK insurance broker domains since 2016, according to a scan of the dark web conducted on behalf of Insurance Post.
FCA extends latest product governance survey deadline
Having originally given brokers only a few weeks to send back a “demanding” survey into product governance and distribution practices, Post can reveal the FCA has extended its deadline from 11 August to 1 September.
Big Interview: Sicsic Advisory’s Michael Sicsic
With the Consumer Duty deadline looming, Michael Sicsic, former head of supervision for the UK general insurance retail sector at the Financial Conduct Authority, considers whether the industry is ready for the new regulation.
How insurance boardrooms are changing
Data analysis: An EY survey has reviewed the movements of board members, with insurance showing a higher turnover rate than last year, which might be representative of new focuses within the boardroom.
Business fraud market to increase nearly 20% by 2025
Allianz Trade claims the current business fraud market GWP in the UK is around €280m (£244m), and it is expected to increase to €330m by 2025.
Zero GI insolvencies brings FSCS compensation down for 2022/23
The Financial Services Compensation Scheme has reported that for the year ending 31 March 2023, it paid £163m in compensation for general insurance providers, £23m less than the year before.
Q&A: Alex Martin, Clearspeed
Alex Martin, CEO and co-founder of AI-enabled voice analytics provider, and British Insurance Award winner Clearspeed, explains to Scott McGee how the business has gone from helping the armed forces spot attackers to helping insurers catch fraudulent…
MoJ ‘finally’ opens consultation for RTA medical reporting
The Ministry of Justice has today opened a 12-week consultation, seeking feedback on issues relating to medical reporting in support of road traffic accident-related PI claims valued up to £5,000.
RSA moves to double professional indemnity business by 2026
RSA Insurance has launched an excess of loss product – the first in a phase of launches as it aims to double the size of its professional indemnity business by 2026.
Arag agrees deal to buy Das UK
The Arag Group is set to buy Das UK, Ergo’s legal protection insurance business.
Time to stop throwing punches with the OIC portal
Editor’s View: Scott McGee says the Official Injury Claim service needs to be improved to achieve the aim of making the personal injury claim process so simple anyone could request compensation without legal help.
Government grills FCA on broker commission
Sheldon Mills, executive director for consumers and competition at the Financial Conduct Authority, conceded the regulator needs to “be tougher on brokers” after Dame Angela Eagle slammed them for “ripping off leaseholders”.
Big Interview: ABI’s Mervyn Skeet
In his first big interview since being appointed director of general insurance policy at the Association of British Insurers, Mervyn Skeet speaks to Scott McGee about the reinsurance scheme for high-risk buildings and closing expectation and protection…
Subsidence costs to increase 800% if climate change continues at current rate
PWC has predicted that, if climate change continues to increase the severity of weather in the UK, insurers will be facing costs of around £1.9bn per year just in subsidence claims.
Motor premiums will ‘need to go up further’ to manage claims costs, says ABI’s Skeet
The Association of British Insurers’ director of general insurance policy, Mervyn Skeet, has told Insurance Post that motor premiums will “probably need to go up further” because claims costs are still increasing.
Trudgill takes CEO role at Biba
Graeme Trudgill, executive director at the British Insurance Brokers’ Association, has been appointed CEO, replacing Steve White.
Profile: Rodney Bonnard, EY
Rodney Bonnard, head of insurance for EY, chats to Scott McGee about his 30 years in insurance, the “profitability crisis” within personal lines, and how insurers need to be redefined for the future of insurance.
Ecclesiastical expands reach to modern leisure venues
Ecclesiastical is expanding its leisure product to include modern properties, Insurance Post can reveal.
Chancellor to sign EU financial services co-operation agreement
Jeremy Hunt, Chancellor of the Exchequer, will sign an agreement on financial services co-operation with Mairead McGuinness, European commissioner for financial stability, financial services and the capital markets union.
Winn Group targets high-profile partnerships after more than doubling turnover
After Winn Group increased turnover by 139% in 2022, founder and executive chairman Jeff Winn has targeted some big-ticket partnerships to take it past £300m by the end of 2023.
Big Interview: Aon and Biba’s Jane Kielty
Jane Kielty, head of commercial risk at Aon and deputy chair of the British Insurance Brokers’ Association, catches up with Scott McGee about her view on the future of commercial insurance, and how being ejected from her previous career got her thinking…
CMA reverses Copart merger decision after industry support
Having originally raised competition concerns, the Competition and Markets Authority appears to have completed a u-turn on its findings around Copart’s acquisition of Green Parts Specialist Holdings Ltd (formerly Hills Motors).