Regulation
Analysis: Bad data - A risky business for insurers?
Data is everywhere: good data, partial data, valuable data, bad data. Insurers need data to measure and price risks but do they take enough care in assessing the quality and provenance of the data they are using and are their processes sufficiently…
Analysis: How might a no-deal Brexit affect claims inflation?
With the outcome of Brexit still unclear and a possible European Union exit on 29 March looming, some insurer bosses have cautioned that we could see rising claims inflation this year.
Enterprise sees claims costs rocket from Ogden impact
Enterprise could pay out £101.4m more in UK claims than its administrators had predicted, largely owing to the Ogden rate hit on its motor book.
This month: Seeking the right fit
I’m a fan of making sure stuff is the right fit - I make a point of trying on new outfits in my own home with accessories and shoes to make sure it all works for me. I also test drove my new car a few times to check it was what I wanted. Aon, however,…
Insurers to pay up to double compensation for FOS complaints
Insurers will have to pay more than double compensation to consumers and businesses who complain under the Financial Ombudsman Service.
Blog: Opioid epidemic - The pain persists
Britain is in danger of replicating the painkiller epidemic that has ravaged the US. Dorothy Flower, partner, and Emma Kislingbury, associate at RPC, explore how this might impact pharmaceutical companies, medical practitioners, healthcare providers, and…
Insurers count cost of EHIC no-deal Brexit loss
The loss of European Health Insurance Cards in the event of a no deal Brexit could increase insurer costs and put UK travellers off European mini-breaks.
MIB to set up green card booths at ports
Motorists who have failed to obtain a green card prior to driving in Europe will be able to collect one from a port.
Blog: What could CEO Penny James bring to Direct Line?
Jonathan Swift reflects on whether Direct Line's new "understated" and "inquisitive" CEO Penny James might be the right person at the right time, given the on-going pricing review.
Gable CEO Dewsall withheld 'critical' information in administration of Hogarth Underwriting
Exclusive: Gable CEO William Dewsall ignored “numerous requests” from administrators of his underwriting vehicle Hogarth Underwriting.
Insurers warned not to use Brexit to ‘offload customers’
The regulator has issued a warning to insurance companies not to use Brexit as “an excuse to offload customers”.
Q&A: Richard Coleman, Collinson
With increased regulation and Brexit travel insurance is facing an interesting time, Post caught up with Richard Coleman, European director at Collinson, who talked to us about his thoughts on market developments in 2019.
Analysis: What happens to motor after March 29?
In the event of a no-deal Brexit, motorists will have to carry green cards in the EU. But that’s just the tip of the iceberg
Amanda Blanc issues caution on insurer big data use
Zurich EMEA CEO, Amanda Blanc cautioned insurers on how they use big data in her keynote speech at the Association of British Insurers annual conference.
Insurers must ‘take responsibility’ for dual pricing: Minister
Finance minister Robert Jenrick today warned insurers they must take responsibility for dual pricing.
LV's Mike Crane on dealing with changing customer expectations
Customers’ expectations are changing and they are demanding to be more informed. Mike Crane says insurers risk alienating customers if they don’t explain how and why they price risks
No deal Brexit an ‘unforgivable act of economic self-harm’
Huw Evans, director general of the Association of British Insurers, will tonight warn that if there is no alternative other than no deal then the UK must delay Brexit.
German lawmakers give regulator power to extend passporting for 21 months
Germany has adopted preliminary provisions, which could see the passporting rights of UK financial institutions, including insurers, temporarily extended in the event of a no-deal Brexit.
Blog: Cyber future will come down to communication
With the nature of cyber attacks constantly changing Madeleine Shanks, associate partner at Clyde & Co, explains that dialogue between customers and their insurers has never been more important to ensure that cover is proportionate.
Drivers in autonomous vehicles 'shouldn't be held liable'
Drivers of fully automated vehicles should not be held liable for accidents involving their cars while technology is in charge, says the Association of British Insurers and Thatcham Research.
FCA gives wholesale broking market a clean bill of health
The Financial Conduct Authority has closed its market study of wholesale insurance brokers, saying it had “not found evidence of significant levels of harm that merit the introduction of intrusive remedies”.
FCA issues warning over clone broker
The Financial Conduct Authority has issued a warning over an unauthorised firm pretending to be Protect Your Bubble.
Insurance staff ‘stressed’ over weight of EU regulation
Insurers have issued a warning over the increasing toll that European Union regulation is having on employees.
Webinar: Removing the shackles of heritage technology to become fit-for-purpose
The burden of legacy or heritage technologies is not a new issue for the insurance industry.