Here’s your regular monday morning essential briefing, covering what’s happening in the insurance industry.
The Sunday Times reports that plumbers, hairdressers and air crew are performing beauty treatments, often leaving patients scarred, or requiring hospital treatment. Latest stats by specialist insurer Hamilton Fraser, show an increase in cases of disfigurement in Scotland by around 33 percent.
The business of providing `no surgery’ facelifts, botox, tooth-whitening and more is largely unregulated, meaning almost anyone can open a salon, with all that implies in terms of public liability or business insurance claims.
Dr Cormac Convery told The Times that poorly trained staff are using dangerous techniques on clients. Industry experts will hold a seminar later this month in Glasgow, with a view to setting standards and regulation across the beauty industry.
Hiscox are expected to issue an update via the London stock market on Tuesday, giving more guidance on the costs incurred during the busy hurricane season.
HELVETIA INVESTIGATION
Reuters reports that the Swiss insurance regulator has opened an investigation into Pierin Vincenz, Chairman of Helvetia. The probe will look at a possible conflict of interest, records Reuters.
VISIONTRACK CAMERA LINKED TO TELEMATICS
VisionTrack has launched a new video recording camer this month, aimed at providing real-time data to insurers. Traditional telematics boxes have the capacity to send data after an incident of course, but the VisionTrack camera will allow insurers to view everyday driving to see if it infringes the T&Cs of an individual policy.
The system can be supplied in a white-label format for brokers too.
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