With the new regulator fast approaching it seems that every week more and more news stories seem to be focusing on what will change for the insurance industry.
Since the Conservative-led Coalition came to power the focus has been on reducing the deficit. It is the prism through which every political decision has been refracted.
Good things come to those that wait.
You will all have seen the new Professionalism website Insurance Age launched this week.
Last Friday Ageas announced that it was in exclusive talks with Groupama about the UK business. The latter had been formally on the market since the start of this year and linked with pretty much every provider going, private equity and MBOs.
I'm afraid there's something I have to get off my chest.
So here we are again, in the midst of silly season.
There is nothing nice about brokers being hit for payment protection insurance mis-selling refunds.
During a week in which the Insurance Age newsdesk was largely consumed by the usual swathe of half-year financial results, one piece of broker bashing still struck a chord.
Olympic fever has the UK in its grip, and it’s becoming increasingly difficult to find a news story in the national press that isn’t somehow related to the games.
Time to assume the position brokers. That’s right the one where you hold a pen over the cheque book and write out a big number for the Financial Services Compensation Scheme.
Open your hands and lift your palms up to the light...
Everybody loves to talk about the weather, really, don’t they? They like to have a good moan, and compare horror stories. And recently, there have been some great reasons to do so.
At first glance losing one CEO might be thought to be unfortunate, losing two clearly carelessness. Aviva have lost loads.
As the dust settles on a hectic first few weeks at Insurance Age it is clear to see that a common issue afflicts many brokers across the board.
Social media insurance is the new market the industry will apparently soon be embracing, according to research from the Chartered Insurance Institute (CII).
Well, in a flash of ATEs, D&Os and IMDs my first week as an insurance reporter is almost at an end.
Roughly a year ago we conducted a network spotlight series where we interviewed the heads of all the main general insurance broking networks and each and every one predicted consolidation in the sector within a year.
Insurers are losing out on customers because of their shoddy websites, according to research carried out by Global Reviews.
Let me share with you the major reason why I think brokers need to get ready for commission disclosure.
Without doubt my favourite story of the last week was that of the Limerick man who went on hunger strike in protest at Axa’s refusal to pay out on a €24,000 motor claim. Hunger strike is a particularly extreme reaction and particularly emotive in that…
This was a bad week for the insurance industry in terms of press – consumer group magazine Which? in particular had a field day, accusing insurers of charging customers exorbitant ‘hidden fees’ to make run of the mill changes to policies.
If the past week has shown anything it is the need for confidence.
So Hector Sants is off. The man who ran the FSA during its most turbulent period is heading off into the regulatory sunset.