-
ABI outlines effects of IPT increases
- 26/10/2015
- Posted by: Simon Wait
- Category: News
With less than a week to go until Insurance Premium Tax (IPT) increases on the 1 November 2015, the Association of British Insurers (ABI) is setting out the key facts about who will be affected by the change. The standard rate of Insurance Premium Tax - the tax paid each time an insurance policy is purchased in the [...] -
AXA merges UK and Ireland
- 26/10/2015
- Posted by: Simon Wait
- Category: News
AXA UK will bring all of its insurance business under one leader with the news that AXA Ireland has been added to the remit of Amanda Blanc, CEO of AXA Insurance, UK & Ireland as of 1 January 2016. The decision to bring all the insurance businesses together for the first time brings AXA UK’s operations in [...] -
Toyota recalls 6.5 million cars
- 21/10/2015
- Posted by: Simon Wait
- Category: News
Japanese carmaker Toyota has said it will recall 6.5 million vehicles worldwide over a faulty window switch. The power switch could potentially short-circuit, causing parts to overheat and could lead to a fire. Toyota has already recalled some 10 million cars globally that were fitted with faulty air [...] -
European car sales continue to rise
- 20/10/2015
- Posted by: Simon Wait
- Category: News
European new-car sales continued to increase in September, completing 25 consecutive months of growth. The result is in line with the 2015 monthly average while YTD figures reveal a healthy 9.0% increase over 2014 at 10.77 million units. Looking at the markets, the UK ranked first as a result of the usual September [...] -
New insurance solutions for digitalisation
- 19/10/2015
- Posted by: Simon Wait
- Category: News
Dynamic market change may bring countless opportunities, but it invariably also brings new risks. In a survey conducted by Munich Re, some three quarters of insurance companies said they believe that digitalisation will have a dramatic impact on the industry. In order to respond appropriately to these [...] -
Ageas early adopters of Insurance Act
- 19/10/2015
- Posted by: Simon Wait
- Category: News
Ageas has become one of the UK’s first insurers to adopt the principles of the Insurance Act 2015, 10 months ahead of the 12 August 2016 live date. As part of this process, Ageas has confirmed to brokers that there will be no change to its TOBAs as a consequence of the Insurance Act 2015. Any new claims from [...] -
Speed fines contested via Telematics
- 19/10/2015
- Posted by: Simon Wait
- Category: News
More than a third (35%) of businesses in the UK have used telematics tracking technology to contest either a speeding fine or a false insurance claim, new research from RAC Business reveals. According to the research among 500 UK businesses, 18% of companies have used telematics data to prove that a driver [...] -
Zurich group to cut 500 jobs
- 16/10/2015
- Posted by: Simon Wait
- Category: News
Zurich Insurance Group plans to cut up to 10%, or 500 jobs, from its 5,500-member workforce in Germany over the next two years as it consolidates operations, according to Reuters. A company spokesman in Germany said the programme was limited to Germany and sought to cut costs at a time the company was investing [...] -
RAC launches Black Box Insurance
- 15/10/2015
- Posted by: Simon Wait
- Category: News
The RAC is rewarding motorists who prove they are safe drivers from this week with the launch of a Black Box Insurance scheme. Drivers can show how safe they are by installing telematics technology, which records their behaviour behind the wheel. As many as 500,000 UK drivers already have insurance telematics [...] -
£570k fine issued against claims firm
- 15/10/2015
- Posted by: Simon Wait
- Category: News
Rock Law Ltd, based in Swansea, has been fined almost £570,000 for coercing clients into signing contracts, without giving them enough time to understand the terms and conditions before taking unauthorised payments. The record fine is the second to be issued in as many months by the regulator, based at the [...]