Regulation – Page 34
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FeaturesInsurance industry witnesses ‘large drop in appetite for terrorism cover’
While some companies are ‘burying their heads in the sand’, there is an opportunity for brokers to ‘play a critical role in educating their clients’, adds Burns and Wilcox head of terrorism
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NewsFCA updates GI pricing rules following stakeholder feedback
Changes include reporting requirements around commission-rebating and the definition of renewal business
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NewsWillis Tower Watson sues broker rival over ‘poaching’ for its public entity team
Alliant has appointed a number of senior vice-president positions over the summer months
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FeaturesBriefing: Highway Code changes could create claims cost uptick from ‘presumed liability’
Pedestrian and cyclist rule changes could also impact claims volumes – motor insurers will have a lot to juggle if they don’t prioritise customer education now
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NewsAviva is ‘very confident’ ahead of FCA pricing reform implementation
The insurer is ‘committed to being ready’ for the upcoming regulatory deadlines, despite the amount of work that needs to be done by the end of the year, says UKGI boss
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NewsInsurers have paid £968m in interim and final BI claims payments so far
The FCA calculates that 26,238 policyholders out of 41,666 who have had BI claims linked to the test case action accepted have received at least an interim payment so far
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NewsWoodgate and Clark reveals mammoth surge in BI claims
The huge increase in cases has proven to be a ‘game changer’ for loss adjusting
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FeaturesBriefing: Commercial brokers ‘severely’ affected by FCA pricing reform, yet they are ‘not engaging’
Commercial lines brokers cannot afford to have their heads in the sand thinking the incoming FCA general insurance pricing reform will only impact personal lines brokers
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NewsFCA to allow rolling applications for regulatory sandbox
Insurtech UK says the rolling sandbox has always been a ’historic policy objective’ for the trade body
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NewsFCA pricing reform will encourage ‘evolution rather than a revolution’ – Admiral Group
The group will be investing in ‘planting new seeds for product diversification’ to improve customers’ claims journeys, adds chief exec
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FeaturesBriefing: Pandemic predators - private equity dominance sparks concerns
Private equity is seen by some as predators of the pandemic, buying UK firms cheaply. Is it time for reform?
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News AnalysisSpoof ads rife for insurers and brokers despite Google crack down
The FCA seeks to resolve ’the root cause’ of fraudulent adverts. But the government’s Online Safety Bill needs to be broadened if it is to play an important role here
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NewsIrish insurer expects Covid BI claim payments to hit €183m
The High Court in Ireland ruled against FBD in February
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NewsLV=GI boss has ‘never seen anything' as 'substantial' as FCA pricing reform
Preparing for the incoming regulation changes comes alongside “teething problems” with the Official Injury Claim portal, chief exec adds
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NewsInsurance industry backs government’s live event reinsurance scheme in partnership with Lloyd’s
Several syndicates in the Lloyd’s market, including Arch, Beazley, Dale Underwriting, Hiscox and Munich Re, are supporting the initiative
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IT InterviewBronek Masojada: ‘Getting the basics right’ is how industry will boost reputation post-BI test case
Paying outstanding BI claims remains one of the chief exec’s ‘personal priorities’ this year, however chairman adds that ‘appropriate pandemic exclusion terms’ are now in place for Hiscox’s BI book
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NewsBank of England confirms stress test to examine insurers’ cyber and climate risk resilience
The latest insurance stress test will be launching mid May 2022
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FeaturesBriefing: Will anyone admit to price walking?
Transparency around remedying price walking practices could provide a reputational boost, but will any businesses ‘fess up and make their strategy changes public?
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IT InterviewGeoff Carter: Sabre Insurance seeks to tackle ‘niche areas of motor’ with broker partners
The insurer’s chief executive says the firm is ‘all ears for any opportunities brokers might have’
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FeaturesBriefing: Can offering a good customer experience lead to higher profits?
There’s always been talk of how good customer service can work wonders for your bottom line, so I’ve done the maths to find out the real impact of customer experience on underwriting profits
