UK personal lines insurers will need to adjust their pricing models in response to the Financial Conduct Authority’s proposed remedies surrounding the pricing of policies for renewing customers, according to a new AM Best commentary.

The Best’s Commentary, “Strong Brands the Likely Winners of UK Insurance Pricing Review,” states that as insurers will need to increase the prices applied to new business to offset the impact of lower renewal premium on earnings, other aspects of their business profile will likely play an increasing role in the decision-making process of potential and established customers.

This suggests that brands currently enjoying high levels of recognition and customer satisfaction will be best positioned to take advantage as policyholders begin to take more notice of a company’s customer service levels, the experiences of other policyholders (expressed via online channels), and metrics such as claims approval ratios.

To access a complimentary copy of this commentary, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=302026.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201014005665/en/

Contacts

William Keen-Tomlinson
Senior Financial Analyst
+44 20 7397 4395
[email protected]

Catherine Thomas
Senior Director, Analytics
+44 20 7397 0281
[email protected]

Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322
[email protected]

Edem Kuenyehia
Director, Market Development & Communications
+44 20 7397 0280
[email protected]

Source Article

ICYMI: Rhode Island was up to 25,076 confirmed coronavirus cases on Friday, after adding 133 new cases. The test-positive rate was 1.4 percent. The state announced one new death, bringing the total to 1,118. There were 96 people in the hospital, seven in intensive care, and seven were on ventilators.

* * *

Will President Trump win Johnston? Can Barbara Ann Fenton-Fung unseat House Speaker Nicholas Mattiello? Who’s going to be the next mayor of Cranston?

With the general election just four weeks away, we’re giving you the chance to pick the winners of 61 races and one statewide ballot question, including the race for president, every mayoral matchup, and all of the contested seats in the General Assembly.

You can fill out an entry by clicking here.

We ended up with nearly 800 submissions for the primary contest, so our goal is top 1,000 entries this time around. The top 10 finishers will get a Rhode Map tote bag, and to up the ante a little bit, first place gets a $100 gift card to Frog & Toad, second place gets a $50 gift card, and third place gets a $25 gift card.

Feel free to vote early and often. And make sure you encourage your friends to fill out the form as well.

THE GLOBE IN RHODE ISLAND

⚓ Speaker Mattiello isn’t the one on trial this week, but Ed Fitzpatrick writes that his political future might be at stake depending on how political operative Jeff Britt’s case shakes out.

Amanda Milkovits reports that a new study shows health care costs increase up to 20-fold in the first six months after a gunshot injury versus the six months before.

⚓ This week’s Ocean State Innovators Q&A is with Rebecca L. Twitchell, president and

NEW YORK (Reuters) – Investors on Wall Street can add another layer of uncertainty to a market already unnerved by last month’s sell-off, stalled fiscal stimulus and President Donald Trump’s COVID-19 diagnosis, which weighed on stocks on Friday.

FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo

A higher capital gains tax that could accompany a win by Democratic presidential nominee Joe Biden is also emerging as a potential counterweight to this year’s powerful rally in stocks.

Biden has proposed here taxing capital gains and dividends as ordinary income, which would increase the tax rate from 20% to 39.6% for individuals and couples earning over $1 million, the highest tax bracket.

That policy – which would likely be easier to enact if Democrats also win the Senate and retain control of the House – may push some investors to lock in gains ahead of December if Biden emerges the winner in the Nov. 3 vote, fund managers said.

Tax-motivated selling would likely be most pronounced in technology and other momentum stocks and could push the broad S&P 500 index lower between November and the end of the year, said Eddie Perkin, chief equity investment officer at Eaton Vance.

“If you have enough people looking to harvest gains, that has an impact on the stocks that have led the market, and the big tech stocks could be where people choose to sell at the end of the year,” he said.

On Friday, President Trump’s COVID-19 diagnosis triggered a sell-off in stocks and oil as investors moved away from risk assets. But many tech and momentum stocks are sporting healthy gains for the year despite a sell-off that pushed

By David Randall

NEW YORK, Oct 2 (Reuters)Investors on Wall Street can add another layer of uncertainty to a market already unnerved by last month’s sell-off, stalled fiscal stimulus, and by President Donald Trump’s COVID-19 diagnosis, which weighed on stocks on Friday.

A higher capital gains tax that could accompany a win by Democratic presidential nominee Joe Biden is also emerging as a potential counterweight to this year’s powerful rally in stocks.

Biden has proposed taxing capital gains and dividends as ordinary income, which would increase the tax rate from 20% to 39.6% for individuals and couples earning over $1 million, the highest tax bracket.

That policy – which would likely be easier to enact if Democrats also win the Senate and retain control of the House – may push some investors to lock in gains ahead of December if Biden emerges the winner in the Nov. 3 vote, fund managers said.

Tax-motivated selling would likely be most pronounced in technology and other momentum stocks and could push the broad S&P 500 index lower between November and the end of the year, said Eddie Perkin, chief equity investment officer at Eaton Vance.

“If you have enough people looking to harvest gains, that has an impact on the stocks that have led the market, and the big tech stocks could be where people choose to sell at the end of the year,” he said.

On Friday, President Trump’s COVID-19 diagnosis triggered a sell-off in stocks and oil as investors moved away from risk assets. But many tech and momentum stocks are sporting healthy gains for the year despite a sell-off that pushed the S&P 500 down 3.9% in September, its first monthly loss since March.

Tesla Inc TSLA.O, for instance, is up 423% for the year through