Association of British Insurers (ABI)
Insurers and lawyers ‘open’ to ABI-backed review on limitation law for child sexual abuse claims
Exclusive: Insurers and insurance lawyers have reacted positively to the Association of British Insurers’ calls for a review into limitation law in child sexual abuse claims cases.
ABI accuses consumer panel of 'overlooking practicalities' in dual pricing automatic upgrade recommendation
The Association of British Insurers has criticised a proposal from the Financial Services Consumer Panel for an automatic upgrade rule to tackle dual pricing, saying it “overlooks the practicalities of underwriting and product choice.”
ABI backs review on child sexual abuse claims limitation law
Exclusive: The Association of British Insurers believes that there is a need to review limitation law surrounding cases of child sexual abuse and has pledged to engage with the Independent Inquiry into Child Sexual Abuse, survivors and lawyers.
Tributes paid to former ABI man
The industry has paid tribute to Peter Montagnon, who passed away suddenly yesterday.
Analysis: The future of pricing - Tightening the noose
The dual pricing noose is slowly tightening around the insurance industry’s neck. Its laudable attempts to escape from the regulatory hangman seem increasingly futile as the pressure is mounting on the Financial Conduct Authority to take action.
Lloyd's assembles industry leaders to guide modernising efforts
Lloyd’s of London has established two advisory committees featuring prominent industry figures to support its ongoing modernising strategy.
Insurers must work with the repairer sector to keep it from 'dying on its feet'
Motor insurers, manufacturers and repairers must tackle their “dysfunctional relationship” and work together if the sector is to remain relevant with increased technology being added to vehicles.
Flood defences save UK £1.1bn a year
Inland flood defences reduce river flood losses by 63%, saving the UK £1.1bn annually on average, according to a recent study.
Analysis: Diversity and Inclusion: A marked shift in commitment
Diversity and inclusion have moved from buzzwords to being embraced by the insurance industry for all the right reasons but is it doing enough?
Two out of five brokers have never sold a cyber policy
Two out of five brokers have never sold a cyber policy, owing to both a lack of confidence and customer reluctance, research found.
Insurers call for compulsory sprinklers in schools
Automatic fire sprinklers should be compulsory in all new build schools, insurers have warned.
Travel premiums down despite claims rising to £400m
Travel insurance premiums are down despite claims costs rising to £400m in 2018, according to research by the Association of British Insurers.
Government launches review into 'fairness' of IPT
HM Revenue & Customs has published a call for evidence on the operation of Insurance Premium Tax to ensure it continues to operate “fairly and efficiently”.
Motor claims rise calls into doubt impact of whiplash reform
The number of motor claims has risen by 10,000, which lawyers say is a sign there has been little impact from whiplash reforms.
Cyber Research 2019: The findings
One year after Post’s first nationwide cyber insurance survey, Michèle Bacchus revisits the policies, claims and statistics to give you the low-down on what to expect now and in the future of this fast-moving sector
Insurers issue warning as keyless motor theft soars
The number of motor theft claims paid out by insurers in Q1 of this year was the highest since 2012, leading insurers to call for action from motor manufacturers.
Eldon appoints chairman and NED
Arron Banks’ broker Eldon has appointed Link chair Mark Boleat as its chairman, while Martyn Holman joins the broker as a non-executive director.
Blog: How digital can help the pet insurance sector reach its full potential
The average cost of a pet claim is on the rise with payouts often exceeding premiums. However, insurers need not cut margins to remain profitable, with Mark Colonnese of Aquarium Software, pointing to the smart deployment of digital technology as key to…
Insurance companies urged to develop more dementia-friendly policies
Insurance policies come with technical jargon and are "inaccessible" to dementia sufferers, says the Alzheimer’s Society Charity.
Environmental Agency works with insurers to review flood strategy
The Environmental Agency has launched an eight week consultation on a new long-term strategy to tackle flooding and coastal change.
Government pledges £200m to fund replacement of Grenfell-style cladding
The government has allocated £200m to remove and replace aluminium composite material cladding from around 170 privately owned high-rise buildings.
Discount rate: Are insurers being too optimistic?
In anticipation of the new discount rate announcement, expected by 5 August 2019, many insurers have already started to price and reserve at 0%
ABI tracker shows fall in motor premiums in advance of whiplash reforms
The average cost of motor insurance fell to its lowest level in two years, according to a survey from the Association of British Insurers.
Trade Voice: Foil's James Heath on the Civil Liability Act
The Civil Liability Act was passed in December, changing the way whiplash claims are calculated. As part of the bill, the government also agreed to reform the discount rate, which is currently under review. James Heath, President at Forum of Insurance…