Politics
Flood defence funding at 'bare minimum'
Funding for maintaining flood defences is at a "bare minimum" and is the first area to be cut when "budgets are tight", according to the Environment, Food and Rural Affairs Committee.
Biba research spurs Defra Flood Re roundtable
Research from the British Insurance Brokers' Association has highlighted concerns that buying and placing flood cover will become increasingly difficult once Flood Re comes into force.
MPs briefed on benefits of upgrading 'broken' fire alarm system
Pressure is growing on politicians on the issue of introducing a low cost upgrade to automated fire alarms in a bid to improve reliability from 5% to 80%.
Marsh boss Weil calls for U-turn on 'perverse' risk pooling for schools
Global broker Marsh is urging the government to rethink the introduction of a risk pooling arrangement for academies and free schools amid claims the scheme will result in a substantial loss for the taxpayer.
Industry welcomes government fraud action
Insurers have welcomed government measures to tackle insurance fraud announced today by Justice Secretary Chris Grayling.
Biba concerned by riot damages cap
The British Insurance Brokers' Association has expressed concern over the suggested cap on claiming compensation proposed by government in its overhaul of the Riot (Damages) Act.
The UK Insurance Growth Action Plan - where we are
Martin Shaw, CEO of the Association of Financial Mutuals, sits on a steering group for the UK Insurance Growth Action Plan. The plan identifies actions that Government, industry, and others can take forward in five key areas over the next 12 to 18 months…
IUA backs government cyber risk project
The International Underwriting Association has backed a new government project to promote better management of cyber risk.
Impact on premiums of ‘heroism' Bill questioned
The Social Action, Responsibilities and Heroism Bill, announced in the Queen's Speech, will have little impact on insurance premiums, according to insurance law firm Browne Jacobson.
Riot damages cap proposed in Queen's Speech
The government has signaled its intention to limit the compensation insurers can receive following riots with a series of amendments proposed in the Queen’s Speech this morning.
ABI strikes back at claims of government deal over Mesothelioma Act
The Association of British Insurers has hit back at claims it entered into a deal with government over changes to the Mesothelioma Act saying the debate is dominated by the vested interests of claimant solicitors.
Flood Re CEO Woolgrove to address Post's Disaster: Risk & Response event
The acting Flood Re CEO Tom Woolgrove has been added to the impressive speaker roster for the upcoming Post event, Disaster: Risk and Response.
Regulators to face enforcement decision-making review
The government has launched a review of the fairness, transparency, speed and efficiency of the institutional arrangements and processes the Financial Conduct Authority and the Prudential Regulation Authority use to make enforcement decisions.
MP tables early day motion praising Esure and Thatcham for AEB efforts
Esure and Thatcham Research were praised for efforts towards raising publicity around autonomous emergency braking systems in an early day motion tabled at Westminster yesterday.
ABI close to naming Flood Re CEO as search for CFO begins
The Association of British Insurers expects to unveil a full time chief executive of Flood Re in June and has begun its search for a chief financial officer.
Calls for tougher sentences for heritage crime backed by Ecclesiastical
Ecclesiastical has described government proposals for tougher sentences for criminals damaging heritage and faith buildings as “a positive step in the fight against heritage crime”.
Editor's comment: A tough act to follow
As clichés about getting on in the world go, ‘it’s not what you know, it’s who you know’ is about as well-worn as it gets.
Claims Club News - 9 April 2014
All the news from Post’s Claims Club event on 9 April.
Biba boss extends industry welcome to incoming financial secretary
British Insurance Brokers’ Association chief executive Steve White is confident the sector will enjoy an equally “good relationship” with incoming financial secretary to the Treasury Nicky Morgan as it maintained with her predecessor.
Nicky Morgan replaces Sajid Javid as 'insurance minister'
Economic secretary Nicky Morgan is stepping up to replace financial secretary to the Treasury Sajid Javid following his appointment as culture secretary in the wake of the resignation of Maria Miller.
Scottish Independence: Decision time
As the referendum on Scottish independence edges closer, what would a ‘yes’ vote mean for the insurance industry?
Firms deny dodging referral fee ban as select committee prepares ABS report
MP concerned insurers are using alternative business structures to circumvent ban.
ABI won’t fight for further Flood Re inclusions despite band H U-turn
Sources say association’s public backing is result of pressure from Westminster.
Editor's Comment: FCA finds itself in the crosshairs
It hasn’t taken long for the hunter to become the hunted and, with insurers smelling blood, the Financial Conduct Authority finds itself in the awkward position of being forced to account for its own actions.