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Insurance & Reinsurance

Insurer lobbying power should force Law Society rethink

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. […]

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Insurance & Reinsurance

Referral fees – cash in while you can

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. […]