Regulation – Page 55
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NewsWhether or not an insured intends to rebuild fire damaged property should have no impact on reinstatement payouts – Fenchurch Law
A Court of Appeal case last year leveraged previous case law to decide that an insured’s intentions surrounding a property damaged by fire has no bearing on a claim payout based on reinstatement
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NewsFCA ‘still worried about’ poor behaviour by claims management companies
Industry experts notice a more aggressive approach from CMCs, including cold calling, but the FCA confirms it is looking to stamp out bad habits in this section of the insurance market
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NewsMore should be done to 'incentivise' safer driving, says young people insurer Carrot
The telematics provider aims to take ‘a leading position’ as the ‘champion for young drivers’ by speaking up as part of a government inquiry exploring why young drivers are at a higher risk of being involved in road traffic collisions
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IT InterviewContingent BI fallout presents opportunities for new products – Swiss Re
Property and casualty market head says this could be ‘a very valuable product’ moving forward
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NewsABI urges government to continue pressing EU for action around Green Card free zone decision
The trade association believes the ‘best outcome for customers, road hauliers and insurers continues to be for the UK to be part of the Green Card free circulation zone’
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News AnalysisCulture change towards vulnerable customers is here to stay
Insurance Times explores the FCA’s most recent guidance for how insurance firms should treat customers in light of the Covid-19 pandemic and how this can impact vulnerable customers specifically
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NewsConstruction consultancy warns ‘shameful removal’ of PI cover leaves building owners uninsured
The firm is calling on the government to take urgent action and underwrite policies
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NewsThe Big Question December 2020: What challenges and opportunities do you expect for 2021?
At the end of a challenging year that included the FCA test case, the switch to remote working and ongoing problems in classes such as professional indemnity, all against the backdrop of the Covid-19 pandemic, Insurance Times asks the industry what obstacles and opportunities they foresee for the year ahead
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NewsQ&A: Pearson Ham’s Stephen Kennedy debates the pros and cons of the FCA pricing practices study
Pearson Ham’s director Stephen Kennedy debates the advantages and disadvantages of the FCA’s General Insurance Pricing Practices Market study, who will benefit and how can the industry better prepare?
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NewsMotor Insurers’ Bureau could face rising claims as surge in e-scooter crimes seen in capital
Injuries from crimes committed by uninsured e-scooter riders could be problematic for the insurance industry
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NewsUK motorists’ risk being held liable due to further green card delay post-Brexit
As the end of 2020 draws closer and Brexit is upon us, the issue of whether green cards are required for UK motorists driving in the EU after the transition period is still up in the air
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NewsReputation is ‘hidden’ claims cost insurers must mitigate
A customer’s bad claims experience and the overall reputation of the insurer can have a correlating impact on claims costs, agreed expert panel
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NewsInsurers must be proactive around interventional rehab ahead of whiplash reforms – Connexus Group
Expert panel suggests that it is imperative to engage with third parties early in order to grasp a fuller understanding of claims costs
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NewsEthos Broking is ‘planning and preparing vigorously’ for Brexit, says MD
Ethos’ plans include the creation of ‘a Maltese PCC for one of our existing partners’
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News AnalysisInsurers and brokers braced for fallout as another latent defects insurer collapses
In the aftermath of the Grenfell Tower fire, cladding has been a hot topic, with more and more latent defects insurers falling into administration after struggling to pay claims, Insurance Times investigates the wider impact on insurers and brokers
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NewsFSCS to crank up supplementary levy to accommodate for firm failures
The general insurance distribution class retail pool will need to stump up an extra £29m, for example
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NewsLloyd’s Brexit transfer gets final High Court approval
This transfer will be effective just after midnight on 30 December 2020
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Online onlyBriefing: ComparetheMarket shows how weak insurers are versus intermediaries
ComparetheMarket’s abuse of power is remarkable. Distribution’s grip on insurers continues to grow. Can it be stopped?
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NewsToo many brokers looking for ‘easy short-term answers’ to solve profitability
An Insurance Times expert webinar panel discussed how brokers can future proof their businesses post-pandemic
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NewsGoCo taken over by media group
Aggregator GoCompare has accepted an offer from media giant Future Plc, which values the business at more than half a billion pounds
