Motor
ERS targets sub-90% COR
CEO Ian Parker says broker-only strategy to remain in place.
ERS COR falls below 100%
Insurer achieves 99.8% COR in 2015 but profits slip to £6m.
Ageas extends partnership with Keychoice
Deal covers Ageas' car, home,van, bike and commercial SME product lines.
Origin UW to launch motor fleet
Motor trade was also recently added to its portfolio of products.
AA launches insurance company
Company targets 250,000 policies beginning with motor while home is to be added in due course.
In-depth: Keeping it personal
The highly competitive personal lines space is no stranger to change. With further developments in technology and regulation, we examine the issues brokers and insurers are facing and what the opportunities are
Review: Five-star fleet
RSA Mini Fleet. This product has been reviewed by brokers and rated from one to five stars, based on the policy’s key benefits. * = Poor ** = Average *** = Good **** = Very good ***** = Excellent
The Stats: February 2016
The private car insurance market has been on a mild roller-coaster ride over the last 12 months, according to the Average Premium Index from SSP.
ABI publishes insurance claims success rates for the first time
Trade body reveals that 99% of motor claims in 2013 and 2014 were successful.
Covéa launches HNW motor product
Policy extends Sterling Executive product line.
Motor premiums leap £59 due to IPT
AA Index reveals 10% leap over fourth quarter of 2015 and fraud also costs £50 per policy.
Car insurance premiums see biggest annual rise since 2011
Research cites higher repair costs and IPT rise.
RCIB buys three motor breakdown brands from ERS
Deal includes transfer of 150,000 customers.
PwC predicts “mixed” household premiums after floods
Competition in household will see premiums drop in 2016 with commercial premiums falling as motor rises following impact of flooding and petrol price reductions.
ABI and Biba launch Code of Good Practice
Code to help brokers and insurers recognise vulnerable customers.
Principal buys second motorcycle book in days
The broker has acquired the motorcycle book of Simply Insurance.
Principal buys BikeTeam from iGO4 Partners
Deal transfers book of 5,000 motorcycle policies to the broker.
RDG continually evaluating acquisition opportunities
Insurer has just bought MGA Midas Underwriting.
Ryan Direct Group buys Midas
Former RSA chief Paul Donaldson to chair the acquired business.
Drivers willing to use smartphone apps to make claims
Research by Etouch Solutions shows more than a quarter of motorists would definitely use apps.
Car insurance rates accelerating as IPT rise kicks in
Average best buy premiums increase 10.9% in the year to 30 November, according to market researchers.
Direct Commercial buys Liberty motor account
Move follows Liberty’s exit from the UK motor market earlier this year.
Covéa poised to launch direct arm
Direct motor insurance is set to go live in 2016 but insurer highlights commitment to intermediated market.
Covéa revamps private car policy
Insurer has used behavioural economics to redesign policy documents in order to aid customer understanding.