Insurance industry predictions for 2011

In this week's issue of Insurance Times (out Thursday), we asked leading industry figures for their top three predictions for 2011.

See below for a preview of some of their predictions:

Cooper Gay Swett & Crawford chief executive Toby Esser:

• There will be no great push for price increases
• We’ll see increasing consolidation of business in broking and underwriting
• Solvency II won’t impact the market in 2011

Bluefin chief executive Stuart Reid:

• Heightened regulation is coming your way – be prepared
• No one really knows what is going to happen to rates. All we do know is that we don’t know
• Re-engineering your business for these testing times is an imperative. Stand still and you fail

AXA claims director David Williams

• Employers’ liability trigger case to be appealed
• More credit hire firms will fall by the wayside
• The government will consider a more balanced approach when reviewing the discount rate for personal injury damages

Biba chief executive Eric Galbraith:

• Insurers will campaign for fairer regulation
• There will be a review of the FSCS and greater recognition of the insurance sector
• We will see incoming reforms from Lord Jackson and the Law Commission

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