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  • Insurance Act – The Glorious Twelfth

    August 12, 2016
    Technical
    In case anyone missed it, the Insurance Act 2015 comes into effect today – the traditional start to the grouse shooting season. Coincidence? Time will tell. On paper, insurers are required to take a more proportionate stance when it comes to disclosure of material facts. Instead of avoiding the claim completely it will be a ...
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    The Insurance Manager News

    Standards – anything but

    December 31, 2015
    News/Comment
    The few sad devotees of our annual survey of insurance industry standards may have suffered some minor withdrawal symptoms this year, the rest of you probably didn’t even notice. We collected all the data as usual but the results merely mirrored the findings of the previous 8 years and, quite frankly, were becoming boring. Speed ...
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    The Insurance Manager News

    Insurance Premium Tax – Told you so!

    July 13, 2015
    News/Comment
    Nobody likes a smart a*** but, very occasionally, you get it right! The Chancellor’s announcement in the Summer budget that Insurance Premium Tax (IPT) would rise from a standard 6% to 9.5% was described by insurance industry experts as a “shock”, “unexpected” and “unforeseen”. Maybe if they had taken the time to look at the appropriate item ...
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    The Insurance Manager News

    Cyber risks – what’s all the fuss about?

    May 5, 2015
    Technical
    A good number of us struggle to get our computers to do what we want them to do let alone worry about someone else, maybe with more sinister intent, attempting to do the same. Welcome to the world of cyber risks. When another hacking horror story hits the press we heave a sigh of relief ...
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    The Insurance Manager News

    Insurance Act 2015

    April 27, 2015
    Technical
    This doesn’t come into play until 12th August 2016 but the fundamental changes in the principles of material fact and disclosure contained in the Act are already having an effect on insurers’ attitudes and policy wordings. Up until now, the Marine Insurance Act 1906 ruled but there have been many court actions since then which ...
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    “Add ons” – the FCA mean business

    April 24, 2015
    News/Comment
    It’s almost a year since we commented on the Financial Conduct Authority’s (FCA) thematic review of conflict of interests and remuneration amongst insurance brokers. A key element of this review was the subject of “add ons”....
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    The Insurance Manager News