Association of British Insurers (ABI)
Climate stress tests not a 'capital generation exercise': BoE's Claus
The Bank of England’s forthcoming climate stress tests of the UK financial services sector have been designed to provide a view of “the size of the adjustment that is needed”, regulators told an industry summit on Thursday.
Penny Black's Social World: May 2021
Sailing into carbon-neutral future, food donations and mental health support
Chubb and Marsh unveil Covid-19 vaccination solution; insurtech investment hits quarterly high; motor/home premiums fall; and Aviva offers cover to new customers affected by cladding crisis
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Government will hold insurers' 'feet to the fire' on whiplash savings: MoJ's Chalk
Whiplash rules have edged closer to their 31 May commencement, as Parliamentary Under-Secretary of State for Justice Alex Chalk said the government and regulator will hold insurers' "feet to the fire" on consumer savings if necessary.
Trade Voice: ABI’s James Dalton on insurers adapting to the new normal
James Dalton, director of general insurance policy at the Association of British Insurers, explains the steps the industry has taken to embed pandemic pledges beyond the end of lockdown.
Government warned on ALKS classification as the tech gets the go ahead for this year
The government has announced “self-driving” vehicles could be used on the UK roads this year, as insurers and vehicle experts warned that misclassification of automated lane keeping systems could lead to "misuse" of the technology with potentially tragic…
ABI aims to kickstart 'revolution' with flexible working charter
The Association of British Insurers has launched a charter that will commit its 27 initial signatories to advertising a majority of roles as part-time or open to flexible working or job sharing within a year.
Risks taken on by government 'must be in the public interest': HMT's Miriam Sachak
Against a backdrop of calls for the government to underwrite more pandemic-related risks, HM Treasury head of domestic and retail insurance policy Miriam Sachak has said risks taken on by the government "must be in the public interest" and complement…
Insurance Post TV: Is there an end in sight for the insurance cladding ‘crisis’? Plus interviews with Abacai and Zego
Today Insurance Post launches its new ‘magazine-style’ television show, which aims to get under the skin of some of the best read stories and articles that have appeared in print or online recently.
FCA proposes insurer fee to recoup £7.5m of BI test case legal costs
The Financial Conduct Authority is looking to recover £7.5m of external legal costs through a business interruption insurance special fee levied on insurers.
Blog: Loss adjusters and loss assessors face enhanced professional indemnity risk after BI test case verdict
Professional indemnity claims against loss adjusters are rare, and against loss assessors they are even rarer, but there is a cauldron brewing following the business interruption test case, Trafalgar Risk Management head of marketing Bill Lumley cautions.
Analysis: The Scottish redress Bill's waiver conundrum
Scotland's redress Bill was passed by the Scottish parliament in March and sets out a fresh way for residential care abuse survivors to access compensation. But attempts to involve insurers and encourage organisations to contribute have left it with a…
Motor insurance: Falling claims volumes reignite pricing debate
Claims volumes fell significantly in 2020 as premiums crept down slightly, insurer figures show, leading to intensified campaigner calls for current and future savings to be passed on to motorists.
Analysis: Tapping into the returners talent pool
Post investigates whether the insurance industry is welcoming of returners who have had a career gap, assessing the programmes in place to support them and the range of skills, experience, motivation and fresh perspective that they can bring to an…
Braun, Fisher and Woolard among sector leaders named on government socio-economic taskforce
Yvonne Braun, Sian Fisher, Tracy Garrad, Georgina Philippou and Chris Woolard have been appointed to a government taskforce designed to boost socio-economic diversity at senior levels across the UK.
Insurers granted extra time for some pricing practices rule changes
The Financial Conduct Authority is set to grant firms until the end of 2021 to implement some of its pricing practices reforms.
PRA chief pours cold water on ABI Solvency II review hopes
Prudential Regulation Authority CEO Sam Woods has sought to temper expectations that the ongoing review of Solvency II will free up significant amounts of capital held by the UK insurance sector.
Lockdown reins in 'Beast from the East Two' claims hit
At the beginning of February, national headlines warned of a ‘Beast from the East Two’ as snowy blizzards, heavy rain and gale-force winds were forecast to batter large parts of the country. But a repeat of the hefty claims dent left by its 2018 namesake…
IWD Blog: Progress requires not half but the whole
On International Women's Day, Alexandra Foster, director of insurance at BT, explains why we should choose to challenge men.
IPT unscathed in Budget with corporation tax set to rise in 2023
Insurance premium tax went unmentioned in the Spring Budget announcement, with developments including additional apprenticeships funding, a furlough extension and a corporation tax hike from 2023.
PI Analysis: Construction sector locked out by high rising premiums
Many companies in the construction sector are struggling to obtain professional indemnity insurance cover, with the Grenfell Tower fire and the building safety crisis key drivers of premium hardening and exclusions.
Interview: Chris Croft, London & International Insurance Brokers’ Association
After a year dominated by the Covid-19 crisis and Brexit, Liiba leader Chris Croft discusses the future of the trade association and London Market with Emmanuel Kenning, his passion for the Americas and how he got into insurance after working on rail…
Briefing: IPT – good news in the data but reasons for concern remain
The only doubt around the bill to pay for fighting the Covid-19 pandemic is just how big it is, considers Post senior reporter Emmanuel Kenning.
MoJ publishes long awaited pre-action protocol as it confirms May debut for whiplash reforms
The Ministry of Justice has published vital rules for the whiplash portal, including the pre-action protocol and practice direction.