Legal
Brokers urged to push law firms to flag up ABS intentions to insurers
Brokers must push clients to alert their insurers if they are planning to become an Alternative Business Structure (ABS) or risk being drawn into claims for non-disclosure, according to legal experts.
News review: November 2010
IAG UK-owned broker Barnett & Barnett almost doubled its size to £50m gross written premium, with a move for a controlling stake in Bromley-based commercial and personal lines specialist NBJ.
Power hour: Calling in the experts?
This month's debate, with live interaction from Twitter, ascertains what value MGAs bring to brokers' businesses and the wider market. Are they simply another mouth to feed or the specialists that insurers and brokers need to service a diverse client…
Referral fee income to stay
Legal experts have predicted that referral fees in personal injury cases will continue to exist in some form even if the Government decides to implement an outright ban on their use.
2010 review: A year of living cautiously
The economy grew, rival political parties unexpectedly started working together and personal lines rates even hardened, although plenty of surprises and setbacks meant that 2010 was far from plain sailing, writes Andrew Tjaardstra.
Broker regulation - Viewpoint: Securing the future
John Greenway on how, after 23 years as an MP, he is now turning his attention to helping brokers with the new regulatory regime.
Legal - IMD2: Mediation directive is up for grabs
The Insurance Mediation Directive is set to be superseded. James MacNish Porter says now is the time to give the EU your input.
FSA takes firms to court
The Financial Services Authority (FSA) has obtained a High Court ruling appointing provisional liquidators over three firms that the regulator believes were engaged in insurance activities without authorisation.
Arag warns of difficult times ahead for claimants
Arag has warned that radical reforms to the legal aid system and civil litigation could leave many claimants in a significantly worse position.
FOS compensation case gives industry much needed clarity over claims
Claimants who accept a Financial Ombudsman Service (FOS) final determination will be bound by it and will not be able to then bring a civil claim through the courts against their broker in respect of the same claim following a recent High Court decision.
Legal - Compensation Claims: Seeing sense on compensation culture
The law regarding risk perception, negligence, responsibility and compensation is about to undergo a massive overhaul, writes Andrew Parker.
Quinn case sheds light on periods of limitation
A recent High Court ruling in favour of Quinn Insurance has clarified the law regarding the timeframe for submitting claims where an insurer has denied liability, according to law firm Browne Jacobson.
Upping FOS compensation could ruin small brokers
The Financial Services Authority's (FSA) proposal to increase the maximum level of Financial Ombudsman Service (FOS) compensation to £150,000 may force small brokers out of business, legal experts have warned.
Viewpoint: Time to put things right
With poor motor results continuously dismissed as being due to external factors, David Vine asks why insurers choose to ignore the evidence that would enable accurate pricing and, in turn, profit.
Risk management/claims: Brokers warned: enforce EL or risk legal action
Brokers that fail to advise clients about environmental liability risks could face legal action following a government crackdown.
Product reviews: Flexible and competitive caravan cover
These products have been reviewd by brokers who have rated them from one to five, based on the policy's key benefits.
Select commission uplifts risk breaking new bribery laws
Insurers offering brokers increased commission rates for new business must ensure they have adequate procedures in place or they could risk breaching the Bribery Act 2010, according to legal experts.
Banks and FSA wrangle over new measures for PPI customers
The banking sector has locked legal horns with the Financial Services Authority (FSA) over the handling of payment protection insurance (PPI) claims.
Brit case could up timber premiums
Brit Insurance Holdings' £2.6m claim against Taylor Wimpey could be a catalyst for insurers increasing premiums and restrictions on timber frame cover.
Polly C - the hottest insurance gossip
Claim Experts' latest board appointment has made Polly chuckle.
Legal: Social media do’s and don’ts
Facebook, Twitter and LinkedIn are valid tools for public-facing communications, though their ubiquity and ease of use present some dangers, writes Emma Bate.
Spending Review 2010: Mixed regional picture for number of start-ups this year
Ahead of today's publication of the Government's Comprehensive Spending Review tomorrow, data provided by Simply Business shows that the UK's start-up sector has experienced a fragile recovery in 2010, with the first increase in the start-up rate for…
Nearly 50 firms to close under SRA's ARP strategy
The SRA has claimed its strategy to manage the Assigned Risks Pool (ARP) more effectively is showing results, with firms paying up over £3/4m of outstanding premiums and 47 firms either closed or in the process of closing.
Broker claims debate - roundtable: A case of too many cooks?
The friction between brokers, insurers and accident management companies is well documented, but what has come under less scrutiny is the underlying reason for this tension. Martin Friel reports on this special roundtable debate.