Opinion

Could the police outsource to insurers?

12 March 2012 // 0 Comments

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?" [...]

Insurer lobbying power should force Law Society rethink

15 February 2012 // 1 Comment

If the six-point plan designed to to tackle rising motor insurance premiums outlined by Prime Minister David Cameron yesterday proves anything, it's that lobbying this coalition just got tougher. Before the meeting Downing Street had already made its intentions abundantly clear, by cold shouldering any representatives of the claimant personal injury market and briefing the national, trade and broadcast media that it would be the insurance industry itself who would be trusted to decide what changes are necessary in order to pass on savings to consumers. [...]

My top five headaches for the UK insurance industry

4 January 2012 // 1 Comment

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. [...]