The cost of motor insurance fell to the lowest quarterly level since 2016, according to statistics from the Association of British Insurers.
Voluntary initiatives launched in 2018 to address dual pricing are “having a positive impact”, the Association of British Insurers has claimed amid suggestions that the industry needs to go further and do so quickly.
Effective remedies are still needed to address the scale of the dual pricing problem in insurance, according to the latest update from the Competition and Markets Authority.
June 2020 was to be the month insurers got their comeuppance on the saga that is dual pricing, but the Financial Conduct Authority has once again dropped the ball.
The number of adults identifying as vulnerable in the home and motor insurance markets has doubled in the last year and insurers have been urged to ensure they are being inclusive as the regulator reviews their actions.
Saga’s in-house underwriter saw profits slide in 2019/20 as its travel operations face continued coronavirus disruption.
The Financial Conduct Authority has postponed its final general insurance pricing practices market study report from this quarter to June 2020.
Hastings is hoping that investment in its anti-fraud capabilities and supplier partnerships secured in the tail-end of last year will mitigate the impact of claims inflation on its bottom line.
General insurance CEOs want to tackle dual pricing and support further regulatory intervention, a conference heard.
Aviva general insurance CEO Colm Holmes has said that claims inflation is far exceeding expectations, pinning the blame on poor driving.
Go Compare has called for a doubling of the cooling off period for auto-renewals from 14 to 28 days during which time insurers should take “all reasonable steps” to make customers aware their insurance has been auto-renewed.
With the holiday break over, this week has seen people across the UK – some somewhat sluggishly – get back to business.
Several “significant” key risks of harm have been highlighted by the Financial Conduct Authority in an update to insurer boards.
The Financial Conduct Authority has published a call for input on proposals for open finance, which it claims could be a long-term solution to dual pricing.
The biggest opportunity for insurers to improve their performance is in relation to customer loyalty, which ranked above price as a decision driver when it comes to picking a provider, according to research by the Chartered Insurance Institute.
The regulatory agenda is always something of a concern to the independent non-executive director in the insurance market and keeping a close eye on the 2019 and 2020 plans from both the Financial Conduct Authority and Prudential Regulatory Authority is…
In a week that was dominated by personal injury fracas, the revelation that Thomas Cook self-insured against all but the “very largest” PI claims may well take the cake for biggest botch up.
Blog: What does Admiral’s move to consolidate its aggregator businesses as Penguin Portals say about the state of price comparison in 2019?
A week after Go Compare's parent re-financed, Admiral has consolidated its global aggregation businesses as Penguin Portals 'to realise its global growth ambition'. Post content director Jonathan Swift ponders if this signals a first step toward…
A long-awaited judgment in the legal wrangle between Ardonagh and Gallagher came today, clearing Ardonagh of wrongdoing.
Disruption caused by any regulatory interventions on insurers’ pricing practices is more likely to affect insurers such as Direct Line Group, RSA and Saga than price comparison site-based underwriters such as Admiral and Hastings, Peel Hunt has predicted.
Personal lines customers are a promiscuous bunch, known for changing insurers for a few pounds.
An outright ban on dual pricing could be “catastrophic” for the industry, analysts warned, pushing smaller players out of the market, limiting competition and raising premiums across the board.
Studies are now estimating it takes a smoker on average 30 attempts to quit smoking.
The Financial Conduct Authority has outlined a raft of potential interventions as it revealed six million policyholders are hit with a loyalty penalty.