Association of British Insurers (ABI)
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…
Blog: Counterfeiting - how can insurers help in managing the risks?
Counterfeit goods is a global problem, with the death of more than 200 people in the UK linked to fake Xanax drugs a chilling reminder of the dangers. But Richard Houseago, director of property risks and coverage, Keoghs says that's only the tip of the…
Analysis: Joining forces on Adas: How motor manufacturers are looking to work with insurers on driver safety
As insurers complain of double-digit increases in repair costs as a result of advanced driver assistance systems, Edward Murray spoke to motor manufacturers about why the underwriting focus needs to move from the driver to the vehicle.
Trade credit claims mount as UK tops global insolvency forecasts
Trade credit insurer Atradius has forecast that global insolvencies are set to rise for the first time in 10 years, with the UK facing the highest increase of all advanced markets.
This week in Post: Funds, loyalty and crime
Gift cards may not be very personal, but they are perfect when you are not sure what to get someone. However, if you are anything like me you put them away in a “safe” place and forget to use them in time.
Salvage loopholes need closing to stop car theft
The Association of British Insurers director of general insurance policy James Dalton has urged the salvage trade body to tighten the security of the salvage chain.
Premiums 'more likely' to edge up despite claims fraud crackdown: Fitch Ratings
Insurers are unlikely to get a profit boost from a reduction in fraudulent claims and are instead expected to use savings to keep premiums down amid surging average claim sizes, according to Fitch Ratings.
FCA pledges crackdown on firms displaying disregard for customer outcomes: updated
The Financial Conduct Authority has warned general insurance firms that it "will not hesitate to intervene" if firms fail to meet their obligations to customers.