Insurance News Now – 14 July - Insurers fear £9m fraud unit will prompt further cash calls
Post senior reporter Amy Ellis outlines this week's major general insurance stories which include fears from some industry figures that the insurance industry will be called on to foot the bill for more policing after agreeing to invest £9m over three years in an insurer-funded police fraud unit.
City of London Police commissioner Adrian Leppard confirmed the new 35-strong unit is scheduled to be rolled out on 1 January 2012.
In other news, Davies group is expected to be sold for a bid of more than £60m after its majority shareholder embarked on an auction process; Zurich has vowed to maintain a presence in Cardiff despite plans to make sweeping redundancies as part of its return to the direct insurance market; The Law Commission has turned its attention back to reforming commercial insurance pre-contract law. Commissioner David Hertzell, confirmed new legislation governing both consumer and commercial pre-contract disclosure is due to be finalised by 2013; and Brighton-based loss adjuster Fitzgerald Consulting has set up its first international branch in Chile.
Keep up to date with all the latest insurance news as it breaks at postonline.co.uk.
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