Concerns raised on effectiveness of FCA’s general insurance scorecards
Issues with the Financial Conduct Authority’s pilot of general insurance scorecards have been highlighted by industry players who remain unconvinced a focus on claims data and a ‘one size fits all’ approach is what is required.
In a statement released on 1 March, the FCA said the move will aim to help "boost greater competition between firms, encouraging them to focus on improving the value and performance of their products"
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Spotlight: Buildings underinsurance – a hybrid solution?
The issue of underinsurance has created a dynamic landscape of both opportunity and challenge in the field of buildings insurance valuations. Johnny Thomson explains how the current period calls for innovative solutions that align with technological capabilities, while recognising the limitations of emerging technologies
Transformative power of sport for those with life-changing injuries
The Paralympics serves as a reminder there is a real person at the end of every claim, with Kate Duffy, partner at Clyde & Co, pointing out insurers have a duty to support initiatives which aid the rehabilitation process.
Spotlight: Buildings underinsurance – what can be done?
While tackling underinsurance can lead to greater levels of trust between an insurer and the policyholder, failure to take action can have significant downsides including reputational damage and even legal action, writes Tim Evershed
Spotlight: Why buildings underinsurance is bad for business
Based on current statistics, the insurance industry has some way to go in tackling buildings underinsurance. But for brokers that make a concerted effort to address this issue, client loyalty is a potential reward that cannot be ignored, as Tim Evershed discovers
Policy Expert reveals lessons learnt after customer complaints
Steve Hardy, CEO of Policy Expert, outlines the changes it made following issues with the claim of a dissatisfied customer who then went on to create an action group.
Lying motor claims lawyer lands in legal labyrinth
HF and Admiral have secured a finding of fundamental dishonesty against a lawyer who lied about injuries following several road traffic accidents.
McLarens warns cash-strapped councils against self-insuring social housing
As the crisis in social housing continues, Gordon Winstanley, public sector lead at McLarens, observes local authorities are looking to reduce their insurance spend but he warns this is not without risks.
Lord Chancellor announces UK-consistent Ogden rate
Lord Chancellor Shabana Mahmood has announced her intention to increase the personal injury discount rate to 0.5% from -0.25%, in line with Scotland and Northern Ireland.