Association of British Insurers (ABI)
Roundtable: Dual pricing and loyalty
Loyal customers have long felt penalised by dual pricing. As the regulator and the government are promising to stop the practice, insurers discussed how to move the focus away from premiums to build stronger loyalty, at a roundtable organised by Post, in…
Brexit stockpilers face 'huge risk of underinsurance'
Exclusive: Businesses that stockpile goods in preparation for potential Brexit-related disruptions are leaving themselves at risk of being underinsured, brokers have warned.
Analysis: Review of 2018
The spectre of Brexit loomed large over the insurance sector this year, and although the picture is still no clearer in terms of how the UK market will continue to trade with Europe after 29 March 2019, significant merger & acquisition activity was among…
This Week: We'll be watching you
At long last, the Civil Liability Bill cleared its final parliamentary hurdle this week, opening the way for a much-awaited review of the personal injury discount rate.
Insurers cast doubt on impact of ‘cycling awareness’ scheme on premiums
Insurers have cast doubt over the viability of government proposals to reduce insurance premiums for motorists who have signed up to a cyclist awareness course.
Whiplash bill clears final hurdle before receiving Royal Assent
The Civil Liability Bill has been sent for Royal Assent after final amendments were approved by the House of Lords yesterday.
Insurers warned a 'robust' system will be in place to monitor discount rate savings
Parliament expects the insurance industry to deliver on pledges to pass on discount rate reform savings and will be monitoring its progress, Lord Keen of Elie told a conference.
Motor insurers paying out record £23m in claims every day
Motor insurers have paid £23m to motorists every day of the year so far, Association of British Insurers’ research has found.
Passporting ‘unlikely’ under terms of Brexit deal
Insurers are calling for greater clarity over a Brexit deal on financial services that could see a loss of passporting.
Analysis: Business interruption after Salisbury: Poisoned policies?
The fallout of the suspected attempted chemical murder in Salisbury has exposed the intricacies of business interruption policies
IASB votes to push back IFRS 17 roll out
A consultation on pushing back IFRS 17 is expected, after the International Accounting Standards Board voted to postpone the implementation of the global accounting standards to 2022.
Legal consultation launched into driverless cars
A wide-ranging consultation has been launched into the legal reforms surrounding driverless cars.
Analysis: Renovation fires - Learning from history
When extensive renovations are carried out on properties fire poses a risk. Rachel Gordon investigates what insurers are doing to mitigate this happening.
Week in Post: Spotlight falls on Banks
The spotlight has been on Arron Banks this week but we've also seen some major business acquisitions.
The ABI's James Dalton on the FCA market study into pricing practices
The Citizens' Advice super complaint has highlighted that insurers needs to do more to serve existing customers, but James Dalton, director of general insurance policy at the Association of British Insurers believes its important to stress that the…
Competition watchdog urged to take further action on MFN clauses
Insurers, brokers and price comparison sites have welcomed a Competition and Markets Authority investigation into Compare the Market’s use of a controversial clause that prevents home insurers from offering cheaper prices elsewhere, but brokers argue…
This month: Cavities and complaints
As whiplash legislation speeds through parliament, claims management companies have increasingly been looking into other avenues to keep the coffers full and cavity wall insulation claims have spiked. CMCs may be the industry’s own bugbear, but this…
Government’s ban on combustible cladding insufficient, warn insurers
The government’s ban on combustible materials limited to high rise buildings over 18m is not sufficient and should be considered for a wider range of buildings, insurers have warned.
Insurers may be guilty of price discrimination, finds FCA
Insurers may not have sufficient oversight of pricing practices, which could mean some customers are paying significantly higher premiums than those who have similar risk profiles, according to an official review.
Editor's comment: Only yourselves to blame
Over the past two-and-a-half years, I have written in this column no less than three articles urging insurers to act on the problem of dual pricing.
Industry welcomes IPT freeze in the Autumn Budget
The industry has welcomed a freeze on insurance premium tax in the Autumn Budget 2018
Analysis: The dual pricing super complaint
Citizens Advice has launched a super complaint targeting dual pricing to the Competition and Markets Authority. The complaint is the consumer champion’s first in seven years and shines a spotlight on five key areas: home insurance, mobile, broadband,…
Government raises £1.35bn from IPT 'stealth tax'
The government raised £1.35bn from the Insurance Premium Tax in August, the highest amount ever.
Whiplash Bill passes unamended in final reading
A last minute opposition attempt to amend the proposed whiplash legislation on its third reading in the Commons, was voted down yesterday.