October 2020

On 22 September 2020, the FCA published its General Insurance pricing practices market study report. The two-year project explored thousands of policies and consulted with industry stakeholders in order to get to grips with the practice of price walking – where new customers pay cheaper premiums than renewing policyholders. In light of its findings, the FCA has proposed a series of measures to mitigate price walking. This includes insurers providing data to demonstrate they are pricing policies fairly and increasing the transparency and methods...

Tucked away out of sight of the Covid-19 Pandemic trauma is another simmering insurance trauma of potentially gargantuan proportions affecting everyone involved in the ‘built environment’.  A Commissioned Report    Flaxmans  were recently commissioned by Wren the Architects Mutual to examine the status of professional indemnity insurance for architects in the wake of the Grenfell fire and subsequent inquiries. The report recently published is now being widely circulated as it identifies what could become one of the most significant uninsurable risks in the...