Association of British Insurers (ABI)
Consumers bear the brunt of IPT hike amid fears of further increases
Policyholders look likely to foot the bill for a 56% increase in insurance premium tax, but fears have been raised that the government could look to squeeze the already competitive market further by bringing UK IPT into line with Europe.
ABI finds 350 instances of insurance fraud per day
Figures from the Association of British Insurers have shown that insurance fraudsters commit 350 acts a day, totalling £3.6m in value.
BIA 2015: David Hertzell wins Achievement Award
Former Law Commissioner David Hertzell was awarded the prestigious Achievement Award at tonight’s British Insurance Awards.
ABI defends use of age as motor rating factor
The Association of British Insurers has defended the higher price paid by old and young drivers for their car insurance with the publication of new data showing the link between accident frequency, claims costs and age.
FCA opens the door for product reviews in value data debate
The Financial Conduct Authority has not ruled out using consumer reviews to demonstrate the value of an insurance product, despite hinging an industry-wide value debate on utilising claims ratios as a metric.
Editor's comment: Learn your motoring history
The motor insurance market as a whole has reportedly failed to make an operating profit since 1994, despite some isolated pockets of success. Some analysts, such as EY, predicted an increase of around 2% in motor rates this year – which will end the 13%…
Industry defends data collection practices in light of CMA report
Insurers have defended their data collection processes following the publication of a critical Competition and Markets Authority report and calls from a consumer champion for greater transparency around how telematics data is used.
Insurers accused of shirking duty as MoJ faces calls for NIHL claims shake-up
Industry calls for the Ministry of Justice to introduce a fixed-fee regime and expand the existing Claims Portal to include industrial deafness claims have been met with staunch opposition by the claimant legal fraternity.
Video: ABI Huw Evans
Association of British Insurers director general Huw Evans tells Post senior reporter Katie Marriner what general insurance issue is top of his agenda.
Home insurance market to be close to underwriting loss by 2016
Insurers are in danger of presiding over an underwriting loss in the home insurance market for the first time since 2007 if underlying profitability continues to be hampered by falling premiums.
Planned changes to salvage code categorisation criticised by BVSF
The British Vehicle Salvage Federation has criticised proposals to rework the salvage code of practice, describing plans to create a three category rule for written-off cars as “one of the worst failings” in the revised code.
Industry committed to sharing economy despite Uber breach
The British Insurance Brokers' Association remains committed to the sharing economy, despite a breach in taxi company Uber's insurance document approval policy.
Public support for Medco provides fillip for industry backers
Defence of Medco by insurers and the defendant legal community appears to have been vindicated by the public's support of the independent medical panel.
Recycling: A smoking gun
The plumes of smoke staining the skyline are often signs that a scrap metal yard or warehouse full of recyclate has caught fire. While it’s a distraction for the bored commuter, this troublesome sector leaves underwriters scratching their heads.
ABI calls for NIHL claims to go through Claims Portal
The Association of British Insurers has warned that thousands of people are being led to believe they can get compensation for hearing problems.
Interview: Huw Evans: Climbing the ladder
Four months after his appointment as Association of British Insurers director general, Huw Evans tells Post his plans for the trade body and how he intends to make being a member worthwhile.
Compulsory salvage code proposed to prevent written-off cars returning to the road
Insurers have backed proposals to mandate the salvage code of practice with a view to ensuring the most severely damaged written-off vehicles do not return to UK roads, Post can reveal.
CILA rejects proposals for surveyors to oversee resilient rebuilding
The Chartered Institute of Loss Adjusters has questioned proposals to train property surveyors in resilient rebuilding methods, claiming its own members are much more suited to the role.
FCA reconsiders claims ratios for add-on products following industry backlash
The Financial Conduct Authority has backed down from its intention to require general insurers to publish claims ratio information for add-on products and plans to publish a discussion paper addressing alternative options in “the coming weeks”.
Motor Repair Research: Crash test monies
Thatcham provides an invaluable service for motor insurers. But who exactly is paying for it and, more to the point, who isn’t?
ABI reiterates support for young driver curfew as part of safety campaign
The Association of British Insurers has reiterated its call for a night-time curfew for young drivers to be implemented as part of a wider campaign for the introduction of graduated driving licences.
Working group touted to tackle Gibraltar VAT loophole frustration
Insurer frustration around the differing VAT rates incurred by UK and Gibraltar-based firms has led to calls for an industry working party to lobby government to level the playing field.
ABI reminds government to consider flood risks for new homes
The Association of British Insurers has urged the government to consider flood risks when delivering promised new housing.
ABI speaks out against FCA survey results
The Association of British Insurers has hit back against the findings of a report by the Financial Conduct Authority on the relationship between insurers and small and medium enterprises.