Association of British Insurers (ABI)
Debate on driverless car challenges increases ahead of consultation
The government’s planned consultation on driverless car regulation in coming months should help “coalesce minds”, according to the ABI, while manufacturer Volvo continues to push for a coherent system ahead of its Drive Me London trials next year.
ABI warns drivers to stay focused as automatic car technology advances
Motorists shouldn't become complacent on the roads as autonomous vehicles are rolled out, particularly when the technology is new, according to the Association of British Insurers.
Trade Voice: The ABI's James Dalton on the public perception of insurance
Perception does not always reflect reality. If it did, then public perceptions of the insurance industry - and our reputation - would be better than they are.
Senior management: Parachuting in
With more senior management roles going to those from outside the general insurance industry, how will this affect the sector in the future?
CMCs could be hit as crackdown continues on nuisance calls
Direct marketing firms will have to display phone numbers from May under new regulation, with the aim to cut down unsolicited nuisance calls from groups including claims management companies.
Insurers ‘most at risk from credit shocks’
Insurers could lose up to 17% of their own funds if there was a credit shock, according to results of a wide-ranging stress test of the market.
ABI seeks better engagement with young insurers
The Association of British Insurers has acknowledged it needs to “do more” to engage young insurers, as Post research found that a majority hadn’t heard of the leading trade body.
Fraudsters targeting insurance staff in ‘pubs, cafes and on social media’
Insurance employees are the latest target of criminals looking for sensitive customer data with fraudsters following staff from their workplaces and approaching them online, according to officers from the Insurance Fraud Enforcement Department.
PRA appoints insurance director Sam Woods as CEO
The Prudential Regulation Authority's insurance executive director Sam Woods has been promoted to replace Andrew Bailey as PRA CEO.
Flood Re likely to be copied by other nations, ABI's Evans predicts
Flood Re is likely to be copied entirely or in part by other countries, according to Association of British Insurers director general Huw Evans.
Riot cover to continue as standard as Act gets Royal Assent
Property insurers will continue to include riot damage cover as standard after lobbying by the Association of British Insurers contributed to the government introducing a £1m per claim limit in the Riot Compensation Act 2016.
Keoghs to focus on PI changes as it joins ABI as associate member
Law firm Keoghs has become the third associate member of the Association of British Insurers and aims to work closely with the trade body on changes to the personal injury process.
Political Lobbying: Don't mention the ‘L' word
Smoke and mirrors perpetuates the lobbying mystique but there is no need to bring in outsiders if there is someone with know-how and who can put together a well presented case
Comment: ABI's Paul Evans and Biba's Lord Hunt says customers must be handled with care
The ABI and Biba have come together to provide a code of good practice for vulnerable customers
Editor's Comment: Pulling off the sticking plaster
I believe in getting bad news out of the way quickly and nasty things over and done with – then we can move on to the fun things, or the ‘adventure’ as I call it.
FCA regulation of credit hire firms touted as CMCs fall under its remit
Industry commentators have backed the future Financial Conduct Authority oversight of claims management companies, announced in the 16 March Budget, alongside suggestions a similar regulatory framework should be adopted for credit hire companies.
Budget 2016: Latest IPT rise could ‘interfere’ with Flood Re’s primary objectives
Commentators warn it is paramount that people are not dissuaded from taking out policies
ABI adds DAC Beachcroft as second associate member
The Association of British Insurers has added law firm DAC Beachcroft as an associate member, the second since the category was created by the ABI.
Budget 2016: Osborne increases IPT 0.5% with funds raised to be spent on flood defences
Insurance premium tax will rise again with Chancellor of the Exchequer George Osborne today (16 March) announcing in his Budget speech a 0.5% increase effective from 1 October.
Fraud: The fight goes on
The insurance fraud taskforce has reported, but now we are in limbo, so will there be work to ensure the report’s recommendations materialise or will it be a missed opportunity?
Editor's comment: Not an easy target
While insurers are busy trying to inform customers that the sector is not an easy target for fraud there are fears that it is becoming an easy target for the government to make money instead.
Industry bosses unite to warn government against further IPT hike
The industry is rallying against a further potential increase in insurance premium tax ahead of the 16 March Budget.
Concerns raised on effectiveness of FCA’s general insurance scorecards
Issues with the Financial Conduct Authority’s pilot of general insurance scorecards have been highlighted by industry players who remain unconvinced a focus on claims data and a ‘one size fits all’ approach is what is required.
RSA's Innes to chair ABI prudential regulation forum
The Association of British Insurers has launched an industry forum on prudential regulation with RSA group capital and financial risks director David Innes appointed as chair.