Association of British Insurers (ABI)
Treasury delays transposition of IDD into national law
The Treasury has paused the implementation of the Insurance Distribution Directive, earning praise from insurers.
Driverless car data access a 'big priority' for ABI
Insurers need to have access to the accident data produced by connected cars, a conference heard.
Brokers informed: The perils of escape of water claims for HNW clients
Escape of water claims are reaching an all-time high and the risk can be even more prevalent in the high-net-worth sector. From bespoke wet rooms to expensive technology, with homeowners away for extended periods, the damage can prove complex and…
This week: Technology, treasury and trade credit
I'm not sure who was more excited about technology in our house this week, my son discovered that virtual pets in the form of Tamagotchi are making a comeback in the UK this year while I learnt a bar has opened where robots make you cocktails.
Carillion collapse to cost industry £31m
Trade credit insurers expect to pay £31m to help businesses recover following the collapse of construction giant Carillion, according to figures from the Association of British Insurers.
Blog: Grenfell shows construction details need to be fully disclosed to insurers
Building regulations are being reviewed in the wake of the deadly Grenfell fire and Neil Clutterbuck, chief underwriting officer at Allianz, points out construction details need to be fully disclosed to insurers.
Industry braced for losses in wake of Carillion collapse
The trade credit sector is braced for heavy losses following the collapse of construction giant Carillion.
Industry welcomes incoming Justice Secretary David Gauke
Both insurers and personal injury lawyers have welcomed the appointment of David Gauke as Justice Secretary.
Liverpool car park blaze to result in motor claims of £20m
The Liverpool car park fire which destroyed 1400 cars on New Year’s Eve will likely result in motor claims worth £20m, insurers warned.
Post Power List 2018: Huw Evans
Director general, Association of British Insurers
EU insurers to be granted UK access after Brexit
European insurers operating in the UK will be able to continue to do so even after Brexit, according to plans outlined by the Prudential Regulation Authority.
Grenfell report: Building regulations ‘not fit for purpose’
Insurers have welcomed an official report in the wake of Grenfell Tower claiming that existing building regulations are “not fit for purpose”.
Blog: A new year resolution for the government: implement discount rate reforms without delay?
While the government is still considering reforms to the Odgen discount rate James Dalton, director for general insurance policy at the Association of British Insurers, believes insurers must keep the pressure on.
Cost lawyers call on government to curb recoverable costs recommendations
The Association of Costs Lawyers has urged the government not to follow recommendations to expand the use of fixed recoverable costs.
This month in Post: Takeovers, tech, trials and tinsel
This week saw one of the biggest takeover deals of 2017 while our December issue highlights a year of tech.
Sector welcomes PM’s first Brexit deal
The insurance sector has welcomed news that the UK and EU plan to move onto the next phase of Brexit talks but stresses the need for certainty on the UK’s future trading relationship with the bloc.
ABI highlights £35bn industry contribution to UK economy
Insurers and long term savings firms paid out £160m to customers last year, the equivalent to the cost of around 700 houses.
Analysis: The impact of FSCS funding proposals on brokers
In 2016 the Financial Conduct Authority released a raft of proposals that examined potential changes to the way the Financial Services Compensation Scheme was funded.
Insurers call for tougher rules as government launches home building plan
Insurers have called for tough new building regulations as the government plans to create thousands of new homes a year.
Week in Post: All hail Captain Side Parting
This year’s Budget was rewarding for many reasons: a freeze on insurance premium tax, an increase in research funding for driverless cars, and a dig at Jeremy Clarkson.
Sector must tackle rising escape of water claims, warns ABI
Tackling the rising costs of escape of water claims must be the “number one priority” for the domestic property insurance market, the Association of British Insurers has said.
Insurers welcome IPT freeze in this year’s Budget
The government will not raise insurance premium tax in this year’s Budget, a move which has been welcomed by insurers.
MP launches petition to freeze IPT rise
An MP has launched a petition urging the government not to raise the Insurance Premium Tax in next week’s budget.
ABI releases video urging no further IPT rises
The Association of British Insurers has launched a video urging the Chancellor not to increase Insurance Premium Tax in the November budget.