Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 25th of April 2018
October 30, 2012

Six arrested in Gwent “crash for cash” investigation

by Gill Montia

Story link: Six arrested in Gwent “crash for cash” investigation

Gwent Police have arrested six people as part of its on-going investigation into a suspected “crash for cash” fraud ring. Operation Dino has been following up on suspicious claims referred by insurers and the Insurance Fraud Bureau (IFB) and so far 40 people have been arrested, all of whom remain on Police bail. The investigation […]



October 29, 2012

RSA and LV= sign motor claims agreement

by Gill Montia

Story link: RSA and LV= sign motor claims agreement

RSA and LV= have signed a bilateral agreement aimed at speeding up and streamlining motor claims processes and cutting unnecessary costs. Commenting on the deal, LV= technical claims director Martin Milliner says: “This is a great step forward to ensure fairness all round.” RSA says it remains open to talks with other insurers on the […]



October 18, 2012

Car insurance premiums hit two year low

by Richard Kilner

Story link: Car insurance premiums hit two year low

Car insurance comparison website Tiger.co.uk has revealed in its Tiger Watch survey for October that the cost of car insurance has declined by 3% compared to last month. Car insurance premiums have also fallen by 2.7% year-on-year, taking the cost to a two year low. The last six months have seen a significant drop in […]



West Midlands drivers are least respectful

by Richard Kilner

Story link: West Midlands drivers are least respectful

Research commissioned by AXA car insurance has found that drivers in the West Midlands are the least respectful in Britain. The survey involved 2,000 drivers and found that those in Coventry, Birmingham and Wolverhampton were least respectful and most likely to break rules whilst driving. Sheffield and Newcastle also featured in the bottom five cities […]



October 17, 2012

Aviva warns of rising theft on Bonfire Night

by Richard Kilner

Story link: Aviva warns of rising theft on Bonfire Night

Aviva has warned that Bonfire Night is the worst day of the year for burglaries, with 25% more burglaries occurring than on a standard day. Gold and jewellery are particularly sought after, with a 33% rise in claims for them compared to the September/October average. Car thefts also spike during Guy Fawkes Night, during which […]



October 16, 2012

Tax disc insurance check to be ditched

by Gill Montia

Story link: Tax disc insurance check to be ditched

DVLA is proposing to remove the insurance check when a vehicle is taxed. Under plans unveiled this week by Roads Minister, Stephen Hammond, motorists will no longer have to provide a motor insurance certificate when buying a tax disc, with the change allowing around 600,000 additional motorists a year to tax their cars online. Justifying […]



Ageas backs calls for minimum road safety standards

by Richard Kilner

Story link: Ageas backs calls for minimum road safety standards

Ageas has announced it is supporting the Road Safety Foundation’s call for the Government to have minimum road safety standards at the heart of any reform following the finance and ownership review of the major road network. The Road Safety Foundation’s annual GB EuroRAP report found that there would be significant economic rewards from low-cost […]



October 15, 2012

“Marked discrepancy” between road injury figures and claims

by Gill Montia

Story link: “Marked discrepancy” between road injury figures and claims

Latest data from the Institute and Faculty of Actuaries show a “marked discrepancy” between official road accident injury figures since 2006 and the number of injury claims made to insurers. During the period road accidents involving injuries fell 20%, according to Police records, while the Institute’s figures show a 40% rise in third party injury […]



October 14, 2012

Driverless cars – a new insurance dilemma

by Gill Montia

Story link: Driverless cars – a new insurance dilemma

Lloyds is questioning whether driverless cars will shift the need for insurance away from consumers and towards manufacturers. Autonomous, or driverless, cars navigate using sophisticated technologies and as most road accidents are caused by human error, the technology could change the way insurance is bought and sold for consumers and manufacturers. In the US, where […]



October 11, 2012

ABI welcomes outcome of civil litigation damages appeal

by Gill Montia

Story link: ABI welcomes outcome of civil litigation damages appeal

A decision by the Court of Appeal to revise its original decision in the case of Simmons v Castle has been welcomed by the Association of British Insurers (ABI). The ABI applied to re-open the judgment on the grounds that it would upset the package of Government reforms to the civil litigation system by introducing […]



October 7, 2012

Allianz mulls appeal over “cost of repair” ruling

by Gill Montia

Story link: Allianz mulls appeal over “cost of repair” ruling

Allianz says its legal team is considering a judgement made by Mr Justice Cooke last week regarding the practice of producing invoices to prove claims for cost of repair. According to the insurer, if the judgement stands, insurers tempted to seek recovery based upon diminution of value, rather than the traditional repair cost, will have […]



October 4, 2012

ABI tackles young driver crash excess

by Gill Montia

Story link: ABI tackles young driver crash excess

The Association of British Insurers (ABI) is calling for an overhaul of the way in which young people learn to drive. In a new report, radical measures such as a minimum one-year learning period, restrictions on night-time driving and a lower blood alcohol limit are proposed, with the aim of reducing the risks young drivers […]



September 30, 2012

Decline in car know-how leaves maintenance undone

by Gill Montia

Story link: Decline in car know-how leaves maintenance undone

Only a minority of drivers are able to perform the most basic tasks needed to maintain their cars, according to research by Britannia Rescue, and it would also seem that motorists no longer own the basic tools needed to rectify a simple break down. Nearly two-thirds of drivers questioned didn’t own a car battery charger […]



September 17, 2012

Aviva archives reveal archaic insurance claims

by Richard Kilner

Story link: Aviva archives reveal archaic insurance claims

Car insurer Aviva’s archives, dating back to 1911 when there were just 89,000 cars on the road, have revealed historic and unusual reasons for insurance claims in decades past. Despite the lower number of cars accidents were more common in the past, with one accident per 14 vehicles in 1930, compared to one accident per […]



One in 14 car insurance claims are fraudulent

by Richard Kilner

Story link: One in 14 car insurance claims are fraudulent

The record rise in motor insurance fraud is due to phantom passengers and fake injuries, according to the Association of British Insurers (ABI). Each week 865 dishonest motor insurance claims worth £10.4m are being found by insurers. The figures have been released a week after the ABI launched a new national database to help combat […]



September 14, 2012

Car insurance premiums fall in September

by Richard Kilner

Story link: Car insurance premiums fall in September

Insurance comparison website Tiger.co.uk’s car insurance price monitor Tiger Watch has revealed that premiums in September declined by an average of 4% compared to the corresponding period last year. Car insurance premiums are now the same as they were two years ago, with drivers between 35 and 55 seeing the largest falls, with quotes down […]



September 3, 2012

Ageas ups anti fraud measures

by Gill Montia

Story link: Ageas ups anti fraud measures

Ageas has signed up to the Syndicated Intelligence for Risk Avoidance (SIRA) anti-fraud database from Synectics Solutions. With application fraud on the rise – adding approximately £50 to customer premiums, according to Ageas – the insurer is deploying SIRA at the underwriting stage, checking information from new business proposal against known fraud data held by […]



August 31, 2012

LV=’s Britannia Rescue named top provider

by Gill Montia

Story link: LV=’s Britannia Rescue named top provider

LV=’s Britannia Rescue arm has been named the top recommended provider for breakdown cover by Which? The consumer group rated providers on a number of factors including waiting times, quality of roadside repairs and customer satisfaction. In all, 5,772 people who had called out a breakdown provider in the last year were surveyed and two […]



August 29, 2012

Motorists beware 1st September

by Gill Montia

Story link: Motorists beware 1st September

AXA is warning that the 1st September has been the worst day of the summer season for motor accidents for three years in a row. Last year saw the biggest spike, with a massive 40% more claims being made than on the average day in the rest of the summer holiday period. This year, 1st […]



August 22, 2012

One millionth uninsured car is seized

by Richard Kilner

Story link: One millionth uninsured car is seized

The one millionth uninsured car on Britain’s roads has been seized by West Midlands police, Bluefin has reported. The West Midlands force has been utilising automatic number plate recognition (ANPR) technology to help it crack down on the uninsured, and has reported an average seizure rate of one vehicle per hour. Since 2005, when the […]