Politics
Virtual Trials: Court on camera
Could civil disputes really be settled online?
AM Best Commentary: Feeling the pinch
A number of market conditions are placing increasing pressure on the UK non-life sector. What will insurers need to do in order to ensure profits remain strong?
Government to tackle late claim payments in Enterprise Bill
The government is clamping down on late payment of insurance claims with its proposed Enterprise Bill by introducing a contractual requirement on insurers to pay claims to businesses within a reasonable time.
Flood Re regulations moved to next stage at Westminster
Parliamentary scrutiny of Flood Re has been welcomed after the secondary legislation to make the scheme fully operational in time for its launch next year was considered by a House of Commons Delegated Committee yesterday (15 September).
Labour leader Corbyn names Shadow Cabinet
Newly elected Labour leader Jeremy Corbyn has announced his Shadow Cabinet including Hayes and Harlington MP John McDonnell as Shadow Chancellor of the Exchequer and West Bromwich East MP Tom Watson as deputy Labour leader.
Editor's Comment: Don't mention the whiplash
The Oxford Dictionary shows the definition of collaboration as the action of working with someone to produce something and I’m sure that this is what the Association of Personal Injury Lawyers’ president was encouraging when he wrote an open letter to…
ABI urges MOJ to regulate MROs in Medco review
The Association of British Insurers is calling for the regulation of medical reporting agencies in its submission to the Ministry of Justice review of the operation of Medco.
Claims Club: Insurers must act to help shape the future of CMC regulation
Insurers have been given a “three to four month” window to shape the future of claims management company regulation, Claims Club members have been told.
Claims Club: Government missed trick in not mandating on salvage says Thatcham
The government’s recent decision to not mandate a compulsory code for salvage has been labelled a “missed opportunity” by one of those involved in the discussions.
SMEs rate insurers among the top three most transparent institutions
A survey of SME directors carried out by Axa found that the least transparent institution that they have regular dealings with is their local council. The most transparent in order were accountants, lawyers, and insurers.
C-Suite - Broker: Sending a message
Attacks on honest motorists need to stop – and a strong message needs to be sent to fraudsters.
Thompsons demands MP action for motorists after insurer results statements
Law firm Thompsons Solicitors is demanding cross-party action from MPs after it criticised claims portal costs as being "punitive", "unrealistic" and set for the benefit of insurers.
UK insurer CEOs lament IPT hike as H1 results are squeezed
Industry CEOs have criticised the government’s "regressive" decision to increase insurance premium tax, but have dismissed the tax hike represents a disconnect from government, amid widespread profit drops and combined operating ratio deterioration at…
Government to 'encourage' insurers to join nuclear market
The government plans to encourage more insurers to enter the nuclear insurance market, to ensure there is sufficient capacity for planned nuclear power stations in the UK, the parliamentary under-secretary for climate change said this week.
HMRC to allow estimation of new IPT levels to ease back-office stress
Insurers are to be given a temporary relaxation in how they file their insurance premium tax returns to HM Revenue and Customs after Chancellor of the Exchequer George Osborne increased IPT by 56% in the July Budget.
LV to publish prior year premiums on renewal documents
LV is to join Axa in publishing prior year motor premium prices on renewal documents.
News Editor's Comment: Out of the loop
Most business-minded people like to think of themselves as being ‘in the loop’ when it comes to decisions directly impacting their commercial affairs, which is why the recent disconnect between insurance firms and government is likely to feel like…
Pool Re boss raises prospect of separate cyber reinsurance scheme
Funds for a potential public-private reinsurance scheme for cyber catastrophes should not be mingled with Pool Re, however, the remit of the terrorism fund's management team could be extended to operate a separate cyber initiative.
Young driver IPT exemption unlikely despite positive government talks
Hopes of securing an exemption from the insurance premium tax hike for young drivers are dwindling, despite “constructive” talks between industry figures and the Department for Transport last week.
Travel sector on the FCO radar as lack of coverage concerns are raised
Greater regulation around travel insurance is not expected to be introduced, despite calls from the Foreign and Commonwealth Office for insurers to make sure British tourists have adequate coverage.
Leung to replace Choi as Hong Kong's insurance government head
John Leung is relocating from Taiwan to start as Hong Kong's commissioner of insurance on 19 August to replace Annie Choi.
Lloyd's to boost Malaysia presence as it applies for onshore licence
Lloyd's is to apply for an onshore reinsurance licence in Malaysia and open an office in Kuala Lumpur.
The Floow to promote telematics on PM's South East Asia tour
Aviva and telematics company the Floow are among 31 UK business leaders chosen to accompany Prime Minister David Cameron on a trip to South East Asia this week to promote the UK's financial technology sector.
Lloyd's chair Nelson to sit on PM's advisory panel
Lloyd's chairman John Nelson is one of 19 UK business leaders appointed to sit on the government's new business advisory group.
