Legal
Judicial reviews will rise after FOS award change, warns law firm
The announcement by the Financial Services Authority (FSA) that the Financial Ombudsman Service's (FOS) maximum binding award is to be increased to £150,000 will lead to an increase in judicial reviews according to lawyers at Browne Jacobson.
Personal injury costs to approach £10bn, report says
Costs faced by the personal injury insurance industry are likely to rise from £8.4bn in 2010 to £9.7bn by 2014 driven by the growth in the number of motor personal injury claims according to a report by Datamonitor.
Quinn family to take Anglo Irish Bank to court
Sean Quinn’s family has lodged an Irish High Court action seeking damages against Anglo Irish Bank over alleged negligence, breach of duty and intentional and/or negligent infliction of economic damage.
FSCS pledges to target insurers in the wake of High Court PPI ruling
The Financial Services Compensation Scheme’s (FSCS) confirmation that it will pursue recoveries from insurers involved in the mis-selling of payment protection insurance (PPI) has triggered debate over where the responsibility for the whole debacle…
FSA fines set to treble, brokers warned
Two new regulators formed from splitting the FSA could compete to set the highest fines
Power hour: legally speaking
Our experts debate the issues facing legal expenses insurance, from the implications of the Jackson Review to referral fees and broker understanding of the market. Liz McMahon reports
Government under fire over before the event myth
Legal expenses insurers (LEI) have slammed the government for creating the myth that before the event (BTE) legal protection can fill the gap left by the changes which will result from Lord Justice Jackson’s recommendations.
ABI demand to ban referral fees may prove to be futile
The Association of British Insurers may have wasted energy in its attempts to ban referral fees as new legislation on the horizon could see these fees “self regulate” without the need for any kind of mandate.
FOS rules that volcano claim comes under 'poor weather conditions'
The Financial Ombudsman Service (FOS) has refused to refer a travel insurance dispute on whether last year's volcanic ash cloud was the result of "poor weather conditions" to the court as a test case.
PPI judgement welcomed by FSA but disappoints banks
The Financial Services Authority (FSA) has welcomed the High Court’s dismissal of the British Bankers’ Association’s (BBA) legal challenge to its payment protection insurance (PPI) measures.
Banks lose PPI legal challenge
The High Court has ruled in favour of the approach taken by the Financial Ombudsman Service (FOS) and Financial Services Authority (FSA) in the handling of payment protection insurance complaints.
Zurich disappointed by SRA changes
Zurich has raised concerns that the changes unveiled by the Solicitors Regulation Authority (SRA) will not address challenges in the market particularly for small firms renewing professional indemnity (PI) insurance.
Five year fraud investigation results in 33 guilty pleas
A five year investigation by Bedfordshire Police into a major insurance fraud by an organised criminal enterprise based in Luton has concluded with three of the last four defendants being found guilty at Luton Crown Court.
SRA confirms ARP changes
The Solicitors Regulation Authority (SRA) has confirmed sweeping changes to the Assigned Risks Pool (ARP) ahead of a full policy statement to be issued on 18 April.
FSA trebles fines to £97m
The Financial Services Authority (FSA) trebled the value of fines it collected from financial services businesses in just one year, from £33.1m to £96.7m, according to Reynolds Porter Chamberlain (RPC).
Your opinions - letter to the editor - re: article “Abiding by the Rules”
Have your say via email, LinkedIn, the Broker Forum, Twitter and letters.. Send your views to Martin Friel, editor, Insurance Age, VNU House, 32 – 34 Broadwick Street, London, W1A 2HG or email him.
Claims firm shut down and stung with fine following organised fraud
An accident management company director has been hit with “huge” legal bill after his involvement in a string of fraudulent claims topping £200,000.
Review: Cover your legal expenses
This product has been reviewed by brokers and rated from one to five stars, based on the policy’s key benefits.
Review: Protection for the digital age
This product has been reviewed by brokers and rated from one to five stars, based on the policy’s key benefits.
Your opinions - from the Forums: ULR/Legal expense insurance
Have your say via email, LinkedIn, the BrokerForum, Twitter and letters. Send your views to Martin Friel, editor, Insurance Age, VNU House, 32 - 34 Broadwick Street, London, W1A 2HG, or email martin.friel@incisivemedia.com.
Cuts to HSE inspection regime offer an opportunity for brokers
A paper from the Department for Work and Pensions (DWP) has confirmed that the Health and Safety Executive (HSE) will be reducing its proactive inspections by one third, a cut of approximately 11,000 inspections per year.
Concern over risk indicators in wake of ECJ gender ruling
The European Court of Justice’s (ECJ) decision to ban insurers from discriminating against gender has raised fears that other risk indicators, such as age, will also be taken into consideration.
Bribery Act looms as guidance is published
The director of Public Prosecutions (DPP) Keir Starmer QC, and the director of the Serious Fraud Office (SFO), Richard Alderman, have issued joint guidance for prosecutors on the Bribery Act 2010.
Jackson proposals to be implemented in full
The Lord Chancellor, Kenneth Clarke, today announced in the House of Commons proposals for implementing major changes to the way in which civil litigation is funded in England and Wales.