Legislation
Insurers Review of the Year 2024
Insurers share their highlights of 2024 and hopes for more economic stability, less regulatory tinkering and fewer storms in 2025.
UN forum finds ‘major gap’ in industry underwriting transition plans
The United Nations Forum for Insurance Transition to Net Zero has identified a “major gap” in the transition plans for insurance underwriting portfolios.
How insurers can navigate the threat of biased AI
Dean Standing, chief customer officer of consultancy Sagacity, outlines why insurers should take more care when handling customer data to train artificial intelligence pricing models.
Sir Trevor Phillips warns insurers face a ‘reckoning’
Sir Trevor Phillips, former head of the Commission for Racial Equality, has revealed that “more than any other industry,” the insurance sector needs to tackle the disparate way it treats customers.
Are insurers racing to be online-only excluding disabled customers?
As the insurance sector increasingly digitises, Damisola Sulaiman examines the barriers disabled customers face in accessing online insurance services, as well as the measures that have been implemented by insurers to address these issues.
Insurers that paused EDI work told to redouble efforts
The insurance industry may need to renew ethnicity and disability data collection efforts due to Labour’s diversity pay reporting proposals.
E-bike battery legislation ‘warmly’ welcomed
The UK government has announced its intention to legislate to reduce the fire risks associated with electric power-assisted bicycles and lithium-ion batteries.
Big Interview: Andy Bord, Flood Re
On his last day as Flood Re CEO, Andy Bord catches up with Emma Ann Hughes on how the scheme will end in 2039, his pride around Build Back Better, plus why Labour’s promise to build more homes must be accompanied by a robust planning framework.
Martyn’s Law included in King’s Speech
Legislation to boost public venues’ resilience to terrorist attacks, known as Martyn’s Law, has been confirmed as part of the government’s agenda for the current parliamentary session in the King’s Speech.
CII’s Connell on reforming the law on saying sorry
Trade Voice: Dr Matthew Connell, director of policy and public affairs at the Chartered Insurance Institute, looks at an issue that will almost certainly command the attention of the new government.
Insurers should stop looking at AI as a cost-saver
Eddie Longworth, the founder of JEL Consulting who launched the Artificial Intelligence Code of Conduct earlier this year, says the insurance industry hasn’t realised the “conundrum” about using AI and the need for talent to operate it.
Harnessing responsible AI in the insurance industry
Trade Voice: Ann Dingemans, lawyer at Kennedys and Fleur Rochester, Kennedys partner and president of the London Forum of Insurance Lawyers, look at how insurers can take advantage of artificial intelligence in the right way.
‘A lot of gaps’ to fill in Automated Vehicles Bill
There are still gaps left to fill regarding the use of automated vehicles, according to the Association of British Insurers’ manager for general insurance policy, Jonathan Fong.
Vehicle damage claims drop following Welsh speed limit law
Wales has seen a 20% drop in vehicle damage claims since the implementation of a nationwide 20mph speed limit, according to Esure.
Redefining risk with Martyn’s Law
Paul Tarne, partner at law firm Weightmans, explains how landmark counterterrorism legislation Martyn’s Law will affect insurers.
Hannah Gurga, Association of British Insurers
Hannah Gurga, director general of the Association of British Insurers, maintains her 18th position on the Insurance Post’s Power List thanks to her efforts to prove the industry’s worth to whoever will occupy 10 Downing Street later this year.
MOJ asked for clarity on insurers saying ‘sorry’
Insurers and legal experts have welcomed a Ministry of Justice consultation on amending the law of apologies, but have called for more reassurance that saying sorry to policyholders won't be deemed an admission of liability.
Automated Vehicles Bill finally passes through Parliament
Insurers have stated the passing of the Automated Vehicle Bill today represents a "significant step forward" but warned they need "access to relevant data in order to support the adoption of this technology.
Businesses unprepared for incoming anti-terrorism law
Over three quarters of businesses aren’t confident that they will be able to comply with new anti-terrorism requirements, according to research by Gallagher.
Big Interview: Matt Brewis, FCA
Matt Brewis, the Financial Conduct Authority’s head of insurance, explains to Scott McGee why premium finance is a “poor product,” denies the watchdog is Miss Trunchbull-like, plus shares the regulator's plans for 2024.
No immediate insurance changes expected from Automated Vehicles bill
The recently announced Automated Vehicles bill, outlining a regulatory framework for self-driving cars, is anticipated to bring minimal changes for motor insurers, according to Axa.