Motor – Page 30
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NewsClose Brothers Premium Finance appoints top boss for UK and Ireland
The firm has also hired a new managing director to succeed Kemple, who has ‘market savviness and deep understanding of the broking environment’, says chief executive
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NewsTicker launches driving convictions insurance product
Drivers with convictions often have problems securing cover and this product aims to plug the gap
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NewsGreen shoots of insurance growth will take time to bloom – EY
“Insurance demand is among the first to be impacted” by rising cost of living, says UK insurance lead
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NewsMotor premiums up by 8% in Q4 2022 – ABI
Around 40% of all work is now being impacted by delays in car parts
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NewsCompany market outlook for 2023 becoming progressively worse – Fitch Ratings
The firm highlighted that one path to gaining capital is turning to higher investment returns
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NewsVulnerable customers less likely to shop around for home and motor cover – Consumer Intelligence
Almost half (42%) of home insurance customers were revealed to be potentially vulnerable
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NewsProprietary insurance data has influenced changes to Tesla vehicle design – Elon Musk
The US-based billionaire told investors that insurance data had provided a useful feedback loop for manufacturing process alterations
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NewsMotor injury claim numbers fall to lowest since 2018 – ACSO
Court waiting times in the event of a claim, however, are at ‘record highs’ – ‘adding more misery for hard-pressed consumers’, says executive director
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NewsUK car insurance premiums soar by 19% in 2022
Insurers should be doing more to help consumers during difficult times, says chief executive
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IT InterviewAdam Winslow: Retail business and HNW will form ‘the key axis of growth’ for Aviva’s personal lines arm in 2023
UKGI chief executive outlines where Aviva is aiming to expand this year across both personal and commercial lines – although eTrading ‘remains a big area of focus’
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NewsManifesto 2023: Biba calls for compulsory public liability insurance for e-scooters
The broker body has also taken aim at regulation surrounding automated vehicles
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News AnalysisHow is the industry faring ahead of the FCA’s Consumer Duty implementation?
Insurance DataLab provides exclusive analysis of the Financial Ombudsman Service’s most recent complaints data to see how prepared the industry is for the FCA’s Consumer Duty this July
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NewsCost of living crisis causes 43% of insurance customers to cancel policies when seeking to cut cover costs
Head of consumer strategy queries whether the industry is doing enough ‘to be the safety net that newly financially vulnerable customers really need’
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NewsStephen Kennedy: Firms ‘won’t be bored in 2023’ with general insurance pricing
Pearson Ham’s director of insurance pricing states that a ‘fine balance needs to be struck between inflation, competition, demand and growth’
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News AnalysisIFED is working to eliminate ‘blight’ of ghost brokers
Detective chief inspector Tom Hill, head of the City of London Police’s Insurance Fraud Enforcement Department, discusses how the unit has sought to tackle ghost broking
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NewsDirect Line navigating further motor claims inflation
The insurer noted that claims inflation remains a feature of the market
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NewsMotor insurance premiums rise 17.4% over past year – Consumer Intelligence
The average price for a motor insurance policy reached £877
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IT InterviewPeter Thompson: ‘Challenge anything’ mindset behind BGLI’s 30th anniversary success
Broker chief executive says that being acquired by Markerstudy Group has created a ‘formidable’ player in the personal lines market that does not have ‘any bounds in terms of ambitions’
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NewsAviva launches new young driver insurance product
Quotemehappy Connect will allow young drivers to earn cheaper premiums via safer driving while providing personalised advice to less safe motorists
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News AnalysisBriefing: Legislation sorely needed to help mitigate ‘six-figure’ e-scooter claims
However, with the onset of legislation, the potential for first and third party fraud could rise
