Motor
ERS launches enhanced offering for classic car collections
Facility will provide cover of up to £50m.
Hastings to keep focus on motor and telematics
CFO Hoskins says Brexit and possible IPT hike would not impact the firm.
Chubb launches cover for repairing damage to older cars
Diminution in Value will also compensate clients for vehicles' loss of value following repairs.
AA warns of IPT hike in Osborne's Budget
Broker believes Insurance Premium Tax could go up again in less than six months in “double-whammy con on drivers”.
Sompo Canopius ponders UK motor business sale
Insurer bought KGM in 2010.
Admiral operating profit hits £379m
Profits up and motor COR improves to 81% but Confused.com sees profit fall.
Revenue and profits up at Moneysupermarket
Insurance revenues rose by 2% in 2015.
Direct Line’s commercial COR reaches 104.5%
Home and motor CORs come in below 100%.
Zurich launches private motor schemes on Transactor
Household schemes to follow shortly.
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.