Regulation – Page 40
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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
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NewsOIC portal has had ‘troubled start’ – Sabre Insurance
Chief executive believes part one of the whiplash reforms have so far been ‘clunky’, ‘complicated’ and ‘much more difficult’
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NewsLoyal customers to benefit from FCA’s price walking ban
Uncertainty in the market around what will happen following the FCA’s price walking ban remains, but car insurance premiums are now the cheapest they have been since 2016
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NewsUK government reveals billion-pound plan to reduce flooding and coastal erosion risk
The proposed measures aim to better protect and ‘provide reassurance to communities and businesses’
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NewsFCA launches diversity disclosure consultation for listed companies
The regulator believes ’there is a current lack of standardised and mandatory transparency about diversity’
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NewsRegulatory bodies hit financial services D&Os with fines in the millions – BLM
A lack of cover for regulatory fines creates ‘a double-edged sword’ for company directors and officers
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FeaturesOIC portal ‘does not work as well’ as previous MoJ process for whiplash claims
Insurance Times speaks to industry commentators on the early trends that are arising following the Official Injury Claim portal’s launch at the end of May
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NewsAon aborts $30bn WTW mega-merger
The broker said it had reached an ’impasse’ with the United States Department of Justice, despite progress last week regarding a potential settlement agreement
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NewsAviva to pay out Covid BI claims to physios after broker and trade bodies apply pressure
The insurer initially declined Chartered Society of Physiotherapy members’ claims under its surgery policy, but has now revised its stance
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News AnalysisFCA’s latest business plan presents ‘quite a warning for the industry’
New chief exec Nikhil Rathi has this month published his first business plan for the regulator – Insurance Times finds out what it really means for the industry
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FeaturesTaskforce intent on ‘ripping up’ regulation ‘rule book’ – what is the impact on UK GI?
For example, the proposed expansion of open finance suggested by the TIGRR could have a ‘big impact on the broker market’ as it paves the way for ‘a new type of tech-savvy intermediary’
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News AnalysisBreakingbury v Croad judgment could spark negligence claims increase
CFC’s Chris Comerford tells Insurance Times why he believes this judgment might open the doors to vicarious liability claims becoming commonplace as the CQC cracks down on insurance checks
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NewsAllianz Insurance seeks ‘judicial determination’ over restaurant chain BI claim
The insurer allegedly owes £16.4m to cover the restaurant chain’s pandemic-related losses
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NewsSlug and Lettuce owner sues three insurers for £846m over covid business interruption losses
The pub group was forced to close all 760 of its pubs, bars and restaurants
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NewsPool Re warns of ‘potential terrorist threat’ to retail and hospitality sectors as lockdown lifts
The government is considering new legislation called a ‘protect duty’ that puts greater responsibility on business owners and operators
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NewsLockdown lifting set to spark crash for cash induced collisions – Ageas
The insurer’s claims director says that as lockdown has made it harder for these scams to occur, there could be a spike when restrictions lift
