Motor
How the FCA could address premium finance failings
Marc Maxfield, risk and regulation expert at PA Consulting, explains what steps the regulator could take to reduce profiteering from premium finance plus how insurers should prepare for the watchdog's probe now.
Seven takeaways for the insurance industry from Labour’s Budget
Chancellor of the Exchequer Rachel Reeves delivered the hotly anticipated first Budget of the new Labour government on Wednesday afternoon. Insurance Post picks out the most eye-catching points for the insurance industry.
Post-pandemic supply-chain issues beginning to ‘stabilise’
Aviva's technical claims manager Martin Smith has told Insurance Post that supply-chain issues caused by the pandemic and the war in Ukraine have ‘stabilised.’
How insurers can navigate the threat of biased AI
Dean Standing, chief customer officer of consultancy Sagacity, outlines why insurers should take more care when handling customer data to train artificial intelligence pricing models.
Ensuring essential insurance satisfies the consumer
After the Financial Ombudsman Service stated it expected to receive an uptick in complaints from consumers who opted for cheaper car premiums without realising the impact this would have on the level of cover, Tom Luckham examines how the differences…
ABI’s Gurga hits top speed on motor insurance pricing
Hannah Gurga, director general of the Association of British Insurers, shares the work the trade body has been doing to help the government’s motor insurance task force accelerate into action and warns UK chancellor Rachel Reeves any increase to…
Wheels in motion for changes that benefit insurance customers
Following her attendance at inaugural meeting of the government's motor insurance taskforce, Rocio Concha, director of policy and advocacy at Which, shares her hopes for robust action from the regulator to make the sector work better for customers.
Big Interview: Kevin Spencer, Markerstudy Group
In his first interview since the completion of the £1.2bn merger between Markerstudy and Ardonagh’s Atlanta Group, Kevin Spencer sits down with Scott McGee to talk through the process of completing the deal, and how it allows his business to overtake…
General insurers share how the FCA fails to satisfy them
Three out of 10 general insurers question how effective the Financial Conduct Authority has been in regulating the financial services industry over the past year, according to a poll commissioned by the FCA Practitioner Panel.
Impact of 20mph speed limit on motor insurance premiums revealed
Iwan Doherty, senior researcher at Fairer Finance, reveals some providers – but not all – are beginning to let the new car accident data about 20mph speed limits influence their motor insurance prices.
Home Office launches insurance fraud charter
Following the formation of a motor insurance taskforce to crack down on premiums, the government has launched a fresh charter focused on tackling insurance fraud.
Why the government should examine how all insurance prices are set
James Daley, managing director of consumer group Fairer Finance, argues the government task force to tackle motor insurance should consider the way the entire general insurance market works.
Most complained about general insurers revealed
Admiral, Direct Line Group, Aviva, Esure and Axa were the most complained about general insurers in the first half of 2024, according to the latest Financial Ombudsman Service data.
Big Interview: Georges de Macedo, Covéa
Georges de Macedo, CEO of Covéa Insurance, reveals how he is pushing the UK arm of French mutual insurance giant back to profitability and why the provider won’t work with MGAs again.
Covéa CEO rules out working with MGAs again
Georges de Macedo, CEO of Covéa Insurance, has revealed the provider won’t work with MGAs again as he feels “control from an underwriting perspective” is key to returning to profit.
Autonomous vehicle revolution shaking-up insurance
The potholes plus dirty road signs pushing the brakes on mass rollout of autonomous vehicles on UK roads are examined in the latest Insurance Post Podcast.
Personalise insurance or fall foul of disruptors
The potential of personalisation and embedded insurance continue to excite the insurance market. David Worsfold explores what progress is being made and whether the innovation is being driven by mainstream players, disruptors or a combination of the two.
Markerstudy backer agrees deal to buy Collingwood
Markerstudy backer Pollen Street Capital has agreed a deal to acquire Collingwood Insurance Services Ltd, Insurance Post can reveal.
Big interview: David Martin, Aviva
Aviva’s managing director of commercial and chief distribution officer, David Martin sits down with Scott McGee to run through the work done since he joined the insurer, increasing productivity with brokers, and what apprentices need to focus on nowadays…
Home insurance premiums predicted to climb 19% in 2024
Analysis by EY has revealed that home insurers once again made a loss in 2023, with further losses forecast for 2024.
Premium finance outlook ‘improving’ as FCA begins review
Following increased regulatory scrutiny from the Financial Conduct Authority, Pearson Ham research has found that average premium finance costs for motor and home insurance decreased over the last year.
Rachel Lam expands remit at ombudsman
It has been confirmed to Insurance Post that Rachel Lam has been given a wider remit at the Financial Ombudsman Service.
Pen’s cyber revamp; Chubb’s construction practice; Unum CEO joins ABI board
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Why premium finance is like a teenager’s stinky socks
Editor’s View: Emma Ann Hughes reflects on the ramifications of the Financial Conduct Authority shifting from issuing warnings to kicking off a review of premium finance for home and motor insurance on Wednesday (16 October).