Politics
$3bn Thai flood losses set to escalate as city centre inundation begins
Loss adjusters have told Post there is a “whiff of Katrina” about the Thailand floods, following predictions the disaster could cost more than the estimated $3.3bn (£2.1bn) insured losses.
Interview - David McMillan: Bullish about the business
Chief executive of Aviva UKGI, David McMillan is convinced the insurer has turned a corner and is on the path to greater profitability and growth
UK and Norway forge new energy agreement
The UK and Norway have signed an agreement affirming their commitment to cooperation on energy and climate issues.
Global insurers restricted in Ireland after downgrade
Allianz, Aviva and RSA Insurance have been restricted from providing cover for Irish state companies because Ireland has been demoted by credit rating agencies.
Editor's comment: Yet another call for action
How often do we hear that rallying cry for the insurance industry to up its lobbying credentials and persuade government to deliver change that will safeguard both citizens and businesses alike? All too often.
Claims event: ABI urges ‘shared responsibility’ for flood cover
Homeowners living in high flood risk areas could potentially see their insurance part-covered by government subsidies after the Statement of Principles agreement expires.
Claims event: Straw blasts 'made-up' whiplash injuries
Former Justice Secretary Jack Straw, pictured, has backed Ken Clarke’s proposals to make the payment of referral fees a criminal offence, while also branding whiplash a “made-up injury”.
Cyber liability: Getting hacked off
Back in 1983, when Hollywood produced a film about a young boy inadvertently hacking into military systems, the possibility of such an occurrence seemed the stuff of fantasy and doom-mongers.
Risk modelling - Riots: Out of control
The recent riots across England emphasised the destruction such uprisings can inflict. But why do riots start and can their triggers be predicted and planned for?
Climate change: A changing environment
With insurers rushing to provide environmental cover, how are they performing themselves in the climate change stakes?
Djanogly stripped of powers to regulate CMCs
Ken Clarke is set to take charge after Justice Minister Jonathan Djanogly failed to declare family interest in claims management companies, according to The Guardian.
Arab Spring: A little bit of politics
The recent uprisings in the Middle East and North Africa have underlined the narrowness of terrorism policies — but have insureds woken up to the more comprehensive benefits of political violence cover?
CMCs verging on “criminal”
Giving evidence to the Transport committee in its probe into the cost of motor insurance, Jack Straw, former home secretary and justice secretary, said that claims management firms and credit hire companies are “parasites in the system”.
Referral fee ban will not go beyond PI
Jonathan Djanogly MP, parliamentary under-secretary of state for justice, confirmed that the legislation for the banning of referral fees will be confined to personal injury.
Law Society claims consumers are unlikely to benefit from reform
Consumers are unlikely to witness a reduction in their premiums despite reforms on no-win, no-fee arrangements, according to the Law Society.
CS2 Lawyers re-brands in honour of company director
A leading campaigner behind the recent government ban on referral fees has seen the personal injury law firm where he is director named after him.
Solvency II forces actuaries back on the government’s skills shortage list
A shortage of actuaries to deal with Solvency II projects has forced the UK government to relax its visa rules, according to Re Think Recruitment.
Direct Line boss backs tough stance on dangerous drivers
Direct Line’s director of motor underwriting has praised a tough new government stance on dangerous drivers which could see offenders who “devastate lives” jailed for up to five years.
Legal profession fears “Tesco law”
The new rules that allow non-lawyers to invest in and own legal businesses for the first time have come into force today – but have not been welcomed by everyone.
“Landmark day” for legal industry
New rules that allow non-lawyers to be able to invest in and own legal businesses for the first time have come into force today.
Penny Black’s insurance week
Penny was not at the Conservative Party conference this week but couldn’t help but notice her chums at Lloyd’s broker Windsor, which does a bit of business with the Tories, had pulled a blinder on the publicity front.
Editor's comment: Quotas quickly quashed
Having responded to Business Secretary Vince Cable’s call to take the lead in addressing the gender imbalance on company boards, the insurance industry has resoundingly rejected the notion of quotas as a mechanism to tackle this persistent problem.
New Zealand faces mass withdrawal as earthquake claims stack up
Insurers and reinsurers could stop providing earthquake cover in New Zealand altogether, forcing its government to handle claims.
Straw to meet broker groups to discuss referral fees issue
Brokerbility has secured a meeting with Labour MP for Blackburn Jack Straw, pictured, next month in a bid to give him an industry perspective on referral fees.