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Blog: What Cambridge Analytica means for AI in claims

Thu, 26 Apr 2018 06:00:00 +0100

Insurers and lawyers trying to automate claims through artificial intelligence must be careful not to violate ethical boundaries, explains Andrew Dunkley, head of analytics at BLM, pointing to the Cambridge Analytica scandal as a warning sign.

State of the Broker Nation 2018: Probing broking

Wed, 25 Apr 2018 06:00:00 +0100

Michèle Bacchus spoke to brokers to find out their thoughts on regulation, their trade body and their opinion of the UK insurance market

Post-Grenfell research lays bare fire safety test failures

Wed, 25 Apr 2018 00:01:00 +0100

Research conducted on behalf of the insurance industry in the wake of the Grenfell Tower fire has exposed the scale of fire safety testing failures.

Roundtable: Where next for personal injury reform?

Tue, 24 Apr 2018 06:00:00 +0100

Discount rate and whiplash reforms are going through parliament. Will the outcome be beneficial to all?

This week: Proceedings and premiums

Fri, 20 Apr 2018 10:41:22 +0100

This week the UK has been focused on court cases and Inquiries.

AIG moves European business to new UK and Luxembourg units

Thu, 19 Apr 2018 16:00:20 +0100

AIG has established new insurance companies in the UK and Luxembourg in order to ensure continuity of business after Brexit.

Brexit sends Anglo-American trade deal into disarray

Wed, 18 Apr 2018 12:58:38 +0100

The uncertainty surrounding Britain’s departure from the European Union has sent the prospect of a possible Anglo-American trade deal into question, the Lloyd’s market has heard.

Biba’s Steve White on why a transitional agreement is only the tip of the Brexit iceberg

Fri, 13 Apr 2018 06:00:00 +0100

News of a post-Brexit transitional agreement is a welcome one, writes Steve White, CEO of the British Insurance Brokers’ Association, however brokers must be wary that the hard work is still yet to come.

Blog: Not taking hands off the wheel just yet

Tue, 10 Apr 2018 06:00:00 +0100

UK laws, roads and infrastructure are getting ready for self-driving cars but motorists remain reluctant to adopt this technology, points out Simon Walker, group CEO of First Central.

GDPR quiz

Fri, 06 Apr 2018 11:53:04 +0100

The GDPR is almost here. Are you ready? Take our quiz and share your score!

Regional review: Jersey

Thu, 05 Apr 2018 08:32:56 +0100

The largest of the British Channel Islands, Jersey is located 100 miles from the south of England and 14 miles off the French coast. Covering 45 square miles, the island offers one of the world’s major international finance centres. For the island's insurance sector, business is booming.

Insurers still failing to meet FCA renewal rules

Tue, 03 Apr 2018 11:07:08 +0100

The Financial Conduct Authority has warned it will take action against general insurers who fail to implement rules introduced to encourage shopping around at renewal time.

Aviva's Rob Townend on making sure policyholders benefit from whiplash reform

Mon, 02 Apr 2018 06:00:00 +0100

The whiplash reform and discount rate change can be positive for customers, but Rob Townend, managing director at Aviva UK general insurance, warns the challenge for the industry will be to demonstrate these measures have indeed benefitted policyholders.

Blog: How to stop silicosis becoming the new asbestos

Fri, 30 Mar 2018 06:00:00 +0100

Silicosis could result in claims if employers don't manage risks correctly, explains Andy Miller, technical risk control manager at Allianz UK, wondering whether a tougher approach might be needed.

Blog: Rehab is the GDPR exposure insurers weren’t expecting

Thu, 29 Mar 2018 06:00:00 +0100

Insurers need to make sure their rehabilitation providers comply with the General Data Protection Regulation. Anthony Eeles, chief digital and information officer at HCML, shares his checklist to reduce risks of a £20m fine.

City watchdog to probe Aviva preference shares plan

Wed, 28 Mar 2018 11:35:28 +0100

The Financial Conduct Authority has launched a review into whether Aviva broke market abuse regulations following plans to cancel its high yielding preference shares.

CBL-owned broker struggling to get approval in France

Tue, 27 Mar 2018 10:30:12 +0100

SFS France, which is owned by CBL, is having difficulties getting approval from Orias, the French association registering and approving brokers.

Trump signs flood programme extension despite veto threat

Mon, 26 Mar 2018 12:00:37 +0100

The National Flood Insurance Programme would be extended to 31 July as part of a $1.3tn federal spending package signed by President Trump on Friday, despite threatening to veto the bill earlier the same day.

GDPR: A great catalyst for enhancing customer experience

Mon, 26 Mar 2018 11:00:22 +0100

The General Data Protection Regulation is a tough regulation and with the sheer amount of change it entails, most of the impacted companies are prioritising areas that will be compliant on day one of post-GDPR era. Prakhar Agrawal, assistant vice-president and GDPR practice lead, consulting, at EXL, looks at the avenues available.

Regulation Q&A: From GDPR to IDD, Brexit to the future of the PRA, what do insurers really think?

Mon, 26 Mar 2018 10:58:11 +0100

The regulatory landscape is constantly evolving, With this in mind, Post asked a number of senior insurance figures about some of the most pertinent changes that are afoot from GDPR to the IDD, and how they would like the situation to develop in a post-Brexit Europe.

Marsh's White replaces Agnew as LIIBA chair

Fri, 23 Mar 2018 10:59:54 +0000

Roy White, chairman of UK specialties at Marsh, has been named as chair of the London and International Insurance Brokers’ Association.

This week in Post: Why insurers should head to a Maths Jam

Fri, 23 Mar 2018 10:49:27 +0000

This week I attended my first Maths Jam, a gathering of self-confessed maths enthusiasts who get together in a pub and share stuff they like.

Lloyd’s positive on ILS cover for Central Fund

Thu, 22 Mar 2018 11:42:01 +0000

Capital from Insurance Linked Securities could be used to back the Lloyd’s Central Fund as early as next year, the market’s chief financial officer has said.

Video: Insurers and claimant lawyers react to whiplash reform

Wed, 21 Mar 2018 15:10:08 +0000

Insurers welcome the whiplash compensation reform introduced in the Civil Liability Bill, while personal injury lawyers warn against its unintended consequences.

Aston Lark’s Peter Blanc on the M&A courtship

Wed, 21 Mar 2018 06:00:00 +0000

For a merger or acquisition to work, both sides need to get to know each other and have a post-deal plan, explains Peter Blanc, CEO of Aston Lark.

Tributes paid to former APPG insurance deputy chair Baroness Turner

Tue, 20 Mar 2018 10:32:21 +0000

A former chair of the All Party Parliamentary Group for Insurance and Financial Services has paid tribute to one of its longest serving members who sadly passed away last month.

XL Catlin adds Brexit continuity clause to policies

Mon, 19 Mar 2018 10:57:29 +0000

Policies issued by XL Catlin’s London operations will include contract continuity clause to offset any fallout from the UK’s exit from the European Union.

City Minister on why the government is supporting insurance as the engine of the economy

Mon, 19 Mar 2018 06:00:00 +0000

As the Economic Secretary to the Treasury, John Glen is responsible for championing and preserving the UK insurance market's world-leading position. He explains the legislation creating a new UK regime for insurance linked securities is just the first step along that road.

Zurich’s Thomas Liebi on the spectre of inflation

Thu, 15 Mar 2018 06:00:00 +0000

After the stock exchange jolts last month, Thomas Liebi, head of US and UK market strategy at Zurich, analyses whether inflation fears are justified.

Foil's Stephen Hines on why it's time to refocus the agenda on clinical negligence reform

Fri, 09 Mar 2018 06:00:00 +0000

With the NHS facing spiralling costs, reform to clinical negligence claims should not be seen as controversial, says Stephen Hines, president of the Forum of Insurance Lawyers.

Blog: Letting agents, beware of an energy shake-up

Thu, 08 Mar 2018 06:00:00 +0000

No stone is being left unturned by the government in its aim to make renting fair and reasonable. Marc Brewer, underwriting manager for professional risks, Tokio Marine HCC, says it could prove a tough year for the letting industry.

Wrisk CEO warns politicians of barriers for insurtechs accessing government scheme

Wed, 07 Mar 2018 12:31:56 +0000

Exclusive: Politicians need to look at the Enterprise Investment Scheme to make it easier for insurtech start-ups to access it.

Interview: Andy Homer, former Towergate CEO

Wed, 07 Mar 2018 06:00:00 +0000

Industry veteran Andy Homer talks to Ryan Hewlett about life after Towergate, the insurtech world and why Brexit represents an open door for the canny Angel investor.

Blog: The race to the GDPR finish line is on – but don’t lose sight of the customer

Tue, 06 Mar 2018 06:00:00 +0000

2018 presents some big challenges for the motor insurance sector, not least of which is the General Data Protection Regulation. James Roberts, business development director for insurance at Europcar UK Group, believes partners can help insurers here.

This Month In Post: Truth or dare on cyber

Fri, 02 Mar 2018 12:33:41 +0000

At the Association of British Insurers’ annual dinner on Monday, as guests at my table tried to predict future insurance trends, I was struck by a suggestion that was both wild and wise. People will want to protect their most precious belongings and, in 10 years’ time, that will be their personal data, a KPMG partner said.

PRA to look at Solvency II impact on insurers

Tue, 27 Feb 2018 11:23:45 +0000

The Prudential Regulation Authority will be working closely with the insurance industry to make sure that Solvency II requirements do not damage competition in the sector, the Association of British Insurers Annual Conference heard today.

Roundtable: The pre-action protocol at 20

Tue, 27 Feb 2018 06:00:00 +0000

Over two decades ago, a quintet sat down to formulate the pre-action protocols for personal injury claims. Post gathered four [Nigel Tomkins, then of Thompsons could not make it] back together to reflect on their influence, lessons learned and the present legal landscape

Analysis: Does the One Call fine signal wider issues with client money?

Mon, 26 Feb 2018 06:00:00 +0000

John Radford, the 53-year-old businessman and saviour of Mansfield Town Football Club, was fined £468,600 for a “lack of competence” in his handling of client money.

CBL Insurance goes into interim liquidation

Fri, 23 Feb 2018 14:38:24 +0000

The High Court of New Zealand has ordered CBL Insurance, the main subsidiary of CBL Corporation, be placed into interim liquidation.

The risks and regulations driving the Turkish insurance market's growth

Thu, 22 Feb 2018 06:00:00 +0000

Emerging risks as well as new and upcoming regulations are driving the growth of the Turkish insurance market, explain Pelin Paysal and Ilgaz Önder, partner and associate at Gün and Partners.

FCA calls for industry input on regtech

Tue, 20 Feb 2018 10:29:19 +0000

The Financial Conduct Authority has called for input on the use of technology to ease regulatory reporting.

Irish regulator forces CBL Insurance Europe to close shop

Tue, 20 Feb 2018 10:13:28 +0000

The Central Bank of Ireland has ordered CBL Insurance Europe to cease writing business with immediate effect, until further notice.

Spotlight on ADAS: Is everyone ready for ADAS?

Mon, 19 Feb 2018 06:00:00 +0000

As assistance systems are making cars safer, but also more costly to repair, insurers would love a database listing which features are fitted on which vehicles - but motor manufacturers aren’t sharing that information yet

Spotlight on ADAS: Why ADAS is not a fit and forget system

Mon, 19 Feb 2018 06:00:00 +0000

With more Advanced Driver Assistance Systems being installed on cars, Alistair Carlton, technical manager at National Windscreens, says insurers shouldn't underestimate the demand for ADAS calibration.

Axa's Evan Waks on getting post-Brexit certainty

Thu, 15 Feb 2018 06:00:00 +0000

As UK insurers wonder how to continue trading in European Union countries after Brexit, Evan Waks, chief risk officer at Axa UK, argues a transition period would offer much needed certainty. 

European Commission backs IDD delay

Wed, 14 Feb 2018 15:16:50 +0000

The European Commission has ratified proposals put forward by the Financial Conduct Authority to postpone the application date of the Insurance Distribution Directive.

FCA names Bailey incoming FSCS chair

Tue, 13 Feb 2018 10:48:33 +0000

The Financial Conduct Authority and the Prudential Regulation Authority have named Marshall Bailey as chair of the Financial Services Compensation Scheme with effect from 1 April 2018.

Central Bank of Ireland orders CBL Insurance to boost reserves

Tue, 13 Feb 2018 09:17:45 +0000

CBL Insurance Europe has been ordered by The Central Bank of Ireland to bolster its capital and reserves.

Lloyd’s to cut regulatory red tape, says Hancock

Thu, 08 Feb 2018 12:33:38 +0000

Lloyd’s plans to reduce the regulatory burden on market participants as the corporation focuses on a “risk-based” approach to oversight, performance director Jon Hancock said.

Government urged to publish Brexit financial services paper

Thu, 08 Feb 2018 09:36:43 +0000

The government must publish its Brexit position paper on financial services in order to assuage the “chronic state of uncertainty” at present, the chair of the Treasury Committee has warned.