Association of British Insurers (ABI)
Insurance Post TV: Is there an end in sight for the insurance cladding ‘crisis’? Plus interviews with Abacai and Zego
Today Insurance Post launches its new ‘magazine-style’ television show, which aims to get under the skin of some of the best read stories and articles that have appeared in print or online recently.
FCA proposes insurer fee to recoup £7.5m of BI test case legal costs
The Financial Conduct Authority is looking to recover £7.5m of external legal costs through a business interruption insurance special fee levied on insurers.
Blog: Loss adjusters and loss assessors face enhanced professional indemnity risk after BI test case verdict
Professional indemnity claims against loss adjusters are rare, and against loss assessors they are even rarer, but there is a cauldron brewing following the business interruption test case, Trafalgar Risk Management head of marketing Bill Lumley cautions.
Analysis: The Scottish redress Bill's waiver conundrum
Scotland's redress Bill was passed by the Scottish parliament in March and sets out a fresh way for residential care abuse survivors to access compensation. But attempts to involve insurers and encourage organisations to contribute have left it with a…
Motor insurance: Falling claims volumes reignite pricing debate
Claims volumes fell significantly in 2020 as premiums crept down slightly, insurer figures show, leading to intensified campaigner calls for current and future savings to be passed on to motorists.
Analysis: Tapping into the returners talent pool
Post investigates whether the insurance industry is welcoming of returners who have had a career gap, assessing the programmes in place to support them and the range of skills, experience, motivation and fresh perspective that they can bring to an…
Braun, Fisher and Woolard among sector leaders named on government socio-economic taskforce
Yvonne Braun, Sian Fisher, Tracy Garrad, Georgina Philippou and Chris Woolard have been appointed to a government taskforce designed to boost socio-economic diversity at senior levels across the UK.
Insurers granted extra time for some pricing practices rule changes
The Financial Conduct Authority is set to grant firms until the end of 2021 to implement some of its pricing practices reforms.
PRA chief pours cold water on ABI Solvency II review hopes
Prudential Regulation Authority CEO Sam Woods has sought to temper expectations that the ongoing review of Solvency II will free up significant amounts of capital held by the UK insurance sector.
Lockdown reins in 'Beast from the East Two' claims hit
At the beginning of February, national headlines warned of a ‘Beast from the East Two’ as snowy blizzards, heavy rain and gale-force winds were forecast to batter large parts of the country. But a repeat of the hefty claims dent left by its 2018 namesake…
IWD Blog: Progress requires not half but the whole
On International Women's Day, Alexandra Foster, director of insurance at BT, explains why we should choose to challenge men.
IPT unscathed in Budget with corporation tax set to rise in 2023
Insurance premium tax went unmentioned in the Spring Budget announcement, with developments including additional apprenticeships funding, a furlough extension and a corporation tax hike from 2023.
PI Analysis: Construction sector locked out by high rising premiums
Many companies in the construction sector are struggling to obtain professional indemnity insurance cover, with the Grenfell Tower fire and the building safety crisis key drivers of premium hardening and exclusions.
Interview: Chris Croft, London & International Insurance Brokers’ Association
After a year dominated by the Covid-19 crisis and Brexit, Liiba leader Chris Croft discusses the future of the trade association and London Market with Emmanuel Kenning, his passion for the Americas and how he got into insurance after working on rail…
Briefing: IPT – good news in the data but reasons for concern remain
The only doubt around the bill to pay for fighting the Covid-19 pandemic is just how big it is, considers Post senior reporter Emmanuel Kenning.
MoJ publishes long awaited pre-action protocol as it confirms May debut for whiplash reforms
The Ministry of Justice has published vital rules for the whiplash portal, including the pre-action protocol and practice direction.
Insurers warned achieving net zero not enough to combat climate change
Environment Agency CEO Sir James Bevan has reminded insurers that while net zero commitments are important there is further work to do to tackle climate change.
Industry urges rapid action on reforms as Solvency II and future of regulation reviews close
Following "data not dates" means there is no need to delay regulatory reforms where there is common ground, experts told the audience at the Association of British Insurers’ annual conference yesterday alongside calls for the watchdogs to have a…
FCA calls for even more progress from insurers as number of vulnerable customers reaches 27.7 million
The Financial Conduct Authority has revealed there was a 15% increase in the number of customers with vulnerable characteristics between March and October last year.
Widespread pandemic and disease exclusions tantamount to 'market failure', conference hears
Pool Re boss flags 'market failure' concerns as exclusions mount with no 'Pandemic Re' or 'Resilience Re' solution on the table yet.
Helping leaseholders caught up in the cladding crisis in insurance sector's 'reputational interests', says Shadow Economic Secretary
The insurance industry should work to help leaseholders affected by the cladding crisis in order to service not only the national interest but its reputational interests, attendees at the Association of British Insurers’ annual conference have heard.
Exclusions will widen the expectation gap, FOS chief warns insurers
Financial Ombudsman Service CEO Caroline Wayman has cautioned insurers that adding exclusions to policies which have generated claims during the pandemic would widen the gap between policyholder expectations and the reality of their cover.
John Glen MP says more 'clarity' around insurance contracts needed following BI crisis
The insurance industry will play a significant role in supporting economic recovery as the United Kingdom emerges from lockdown, Economic Secretary to the Treasury John Glen MP has said, as he urged for more "clarity" around what insurance covers going…
Vital that valid BI claims are settled quickly after test case, ABI chair Jon Dye tells insurers
The dispute over business interruption cover has undoubtedly been difficult and most people will have only seen one set of headlines about the insurance industry during the pandemic, Allianz UK CEO and Association of British Insurers chair Jon Dye told…