FOR THOSE RUNNING brokers and insurance companies in the UK non-life market, 2012 promises to be a challenging year with reputation topping my list of worries for the industry.
Issues ranging from closure of a £500m tax loophole to how major property exposures can be managed once a decades-old pact to insure buildings at risk of flooding comes to an end; these and more will all vie for directors’ attention alongside the day to day running of businesses typically located at the grudge purchase end of the high street.
With concerns both legislative and market-driven requiring considerable thought, here’s my top five insurance industry headscratchers. […]
Around 2.30pm yesterday, my Legal Tweets twitter list gurgled into life with claims that the Legal Aid, Sentencing and Punishment of Offenders Bill, had been delayed. I also had a stream following the #LASPO hashtag and […]
Understandably the insurance industry reacted negatively to the news, but in the end cold, hard cash did the talking some days later. on 31st May, stock market analyst Collins Stewart was bullish about the prospects of FTSE 100 darling Admiral Insurance precisely because of the LSB’s protectionist stance. Referral fees are to continue and Admiral will carry on earning a tidy sum from them; a fact that won’t have gone unnoticed by the many pension funds with holdings in the motor insurer. […]
“It’s great, and so are we” say the insurers. “The system’s being abused and they’re taking advantage of it,” say the lawyers. Well which is it? Two very different angles about the the MOJ portal appear in today’s Post Mag and Law Soc Gazette.
Neil Rose’s latest column in the Guardian illustrates the difficulty facing policymakers in curtailing the negative consequences of a system that is unpopular with the public while simultaneously being one of the only ways to fulfill our basic right of access to justice. […]
This is the kind of processing nightmare that corporates have charged their in-house teams to deal with and as the Gazette article suggests, there are firms now that claim to have the infrastructure and wherewithall to manage it profitably at a fraction of the price. […]