Category Archives: Motor Insurance
UK insurers predicted to maintain market-leading dividends
By Ralph Savage The UK’s leading insurers can maintain their market-leading dividend payments to shareholders despite tough conditions, analysts at Markit said today. However, in a separate note, Investec maintained … Continue reading
Will motor insurance ever be profitable?
By Jamie Marchant Who’d be a private motor insurer? Following record price increases in 2011, the market still only returned a 106% combined ratio that year and although specialists and … Continue reading
Will 2013 be insurers’ year of austerity?
By Ralph Savage After a Channel 4 dressing down by Dispatches, the insurance industry’s relationship with UK motorists is likely to be a defining issue for 2013. The alleged role in … Continue reading
S&P predicts challenging 2013 for UK non-life market
The UK non-life insurance market is facing a range of significant challenges which will make 2012-2013 ‘difficult’ for companies, according to Standard & Poors ratings services. In its latest report … Continue reading
CII reacts to BBC’s ‘unfair underwriting’ taunt
Young Chartered Insurance Institute (CII) members are pushing for a thorough analysis of the effect of speed awareness courses on driver safety and how they should influence the premiums insurance … Continue reading
UK motor insurers’ underwriting results rebound 14%
A 10% rise in gross written premiums failed to put UK motor insurers in the black during 2011, according to Deloitte. The market experienced “greatly improved financial results in 2011 … Continue reading
Father of the Web warns insurers against data profligacy
Sir Tim Berners-Lee has urged insurers to avoid the temptation of using increasing amounts of publicly available data about consumers on the web to price their products.
The inventor of the World Wide Web made a plea to the industry at the British Insurance Brokers’s Association conference in Manchester yesterday, requesting that information we share about ourselves on line – particularly by young people through social networks – should not be gathered for the purposes of pricing risk.
#BIBA2012 Insurers enjoying clear path down corridors of power
When Andrew Marr told delegates at the British Insurance Brokers’ Association 2012 conference that insurers have historically been mistrusted around Westminster, I wondered if he might be about to quote former PM Harold Macmillan by adding; ‘but you’ve never had it so good’.
The BBC political commentator opened his speech to a packed Manchester Central Auditorium with the suggestion that general insurers might have been unfairly lumped in with the life insurance market in gaining this poor reputation amongst the political class.
Could the police outsource to insurers?
THE HEAD OF one of the UK’s largest police forces has invited insurers to help and invest in combating fraud and other criminal activity.
In a speech to the Insurance Institute of Manchester, Peter Fahy, chief constable of Greater Manchester Police indicated his support for the idea of law enforcement working more closely with the private sector and ‘outsourcing’ certain services.
“We’ve got to save £138m from our budget,” said Mr Fahy. “We are saving insurance industry money [through our investigations of crash for cash, fraud etc] is there no way we can’t work together more?”
