Politics
MoJ working group to have medical panels solution in place by July
The Ministry of Justice will launch a cross-industry working group next month charged with ironing out a solution for the implementation of independent medical panels targeting bogus whiplash claims.
Biba manifesto sparks hope the burden of regulatory cost will be addressed
FCA urged to find areas for savings and be more transparent.
Mesothelioma Bill’s 75% compensation cap outcome is ‘extremely fair’
Bill edges closer to royal assent as claimant bodies vow to continue to fight limit.
Signposting agreement proves worth with more than 100 000 referrals
More than 100 000 older motorists and holiday makers have accessed the signposting agreement forged by the insurance industry and the government since it came into force in April 2012.
Cost of regulation among key issues on 2014 Biba maniesto
The British Insurance Brokers’ Association has delivered its “calling card” to the government in the form of its 2014 manifesto in which the cost of regulation and the challenges faced by SMEs feature prominently.
Chartered status: Raising standards
Amid an industry-wide drive for improved standards, how will the CII’s consultation on changes to its corporate chartered status criteria affect firms seeking to stand out from the crowd?
US politicians demand investigation into Target data breach
US House Democrats have requested a probe into the data breach which resulted in at least 110 million customers of US retailer Target having personal information stolen.
Progress made in delay over new-build flood feature maintenance
A long-running deadlock on rules designed to protect new housing developments against flooding could be broken amid reports that a deal has been reached over who pays to maintain anti-flood features.
Outer Space Act indemnity cap is welcomed by industry experts
The decision by the government to action a proposal to cap the unlimited indemnity in the Outer Space Act to €60m (£49.4m) has been heralded as a sign space innovation in the UK is “ready for investment”.
FOS unveils 20% budget cut
The Financial Ombudsman has said it will need to recover 20% less from financial businesses to support its budget in the 2014/2015 year, compared with the previous twelve months.
Cost of home insurance expected to fall despite flood claim increases
Growth in price competition could see rate reductions of up to 10%.
Telematics providers push for young driver curfew plans to be scrapped
Green paper on young driver safety postponed indefinitely ahead of debate.
My Licence: Seal of approval
While the My Licence driver data-sharing initiative may have some obstacles to overcome, the industry consensus is that it should benefit all parties involved in motor insurance.
ABI has 'no plans to bring Flood Re forward'
The ABI has rejected calls to bring the implementation of Flood Re forward in the wake of severe flooding over the Christmas period.
L&G invests £159m in infrastructure
Legal & General has invested £159m in acquiring 13 care homes and the building of the new Royal Liverpool University Hospital.
Young driver green paper publication unlikely before 2014
The Department for Transport has said it will not be releasing its green paper on young driver safety until it has reconciled improving safety without restricting young people’s freedom.
Govt and ABI yet to finalise details on leaders programme, Javid says
Financial secretary to the Treasury Sajid Javid said the government is yet to sort out the details around working with the Association of British Insurers on its future leaders programme as part of the UK insurance growth action plan.
Aviva sets aside £500m for investment as insurance growth plan is launched
Aviva has pinpointed £500m for investment in UK infrastructure following a pledge with five other life insurers to pump £25bn into major projects as part of the government’s national infrastructure plan.
Four groups granted super-complainant status to FCA
Four consumer representative bodies have been granted “super-complainant” status by the government for the financial services sector.
Legal Update: Mesothelioma Claims: Ministry of Justice’s mesothelioma reforms only complete half the job
Nick Pargeter says the government is failing both claimants and insurers by abandoning fixed costs.
Blog: Could the UK follow New Zealand's lead and embrace driving curfews?
As the festive season gets into full swing, several insurers are already issuing warnings to policyholders about the dangers of “riskmas”.
Bid to cut red tape set to enhance UK insurance market’s competitive position
Insurance Growth Action Plan aims to remove barriers for UK insurers overseas.
Geneva Association head to step down
The Geneva Association’s Secretary General, John Fitzpatrick, has informed the board that he will not stand for reelection at its general assembly in May 2014.
TSC to unveil report to government’s whiplash response
The Transport Select Committee has agreed to publish its Eleventh Special Report of Session 2013-14 on 12 December.