Association of British Insurers (ABI)
Tax payer will not be insurer of last resort in Floor Re, says Benyon
The government will not be the insurer of last resort under the proposed Flood Re scheme, environment undersecretary Richard Benyon said yesterday.
Blog: Is Europe Flood Re's Achilles' Heel?
David Worsfold, group editorial services director at Post's publisher, Incisive Media, explains why the ABI and government might have more to fear from Europe than they first thought.
Q&A: Andy Watson: Happy days
Andy Watson reflects on his short time in charge of Ageas UK and discusses market issues, including the referral fees ban, regulation, telematics and recent job cuts in the sector.
Employment: Port in a storm?
Does the insurance sector’s resilience in a difficult economic climate make it a safe haven for employees, or are industry staff in as much peril as the rest of the UK workforce?
Wheatley to declare FCA will be “a very different animal”
Financial Conduct Authority chief executive Martin Wheatley will today pledge to the Association of British Insurers that the new regulator is “a very different animal to the Financial Services Authority.”
L&G's Wilson: Insurers must invest in housing
Legal and General group chief executive Nigel Wilson has called on the insurance industry to help mitigate the UK’s housing problems by investing in the sector, while also helping to match long term assets.
In Series: Claims: Investigating the investigators
What will the FCA’s examination of insurers’ use of private investigators uncover – and will it affect industry efforts to combat fraud?
ABI calls for industry, government partnership
The Association of British Insurers is to ask the UK government for more regular and constructive partnerships, reflecting the growing role of insurers in society.
View from the Top: Regulators need our help
By working together we can sort out insurers’ tarnished image and cut the bureaucracy, says Robert Hiscox, honorary president, Hiscox
Automatic policy renewals come under FCA scrutiny
Increased premiums on automatic policy renewals are to come under the spotlight, the Financial Conduct Authority has said in a letter to lawmakers.
Government will step-in if Flood Re “runs out”
The insurance industry will not be responsible for recapitalising Flood Re in the event that it “runs out of money” following a one-in-200 year event, the Association of British Insurers has confirmed.
Efra report calls for further funding for flood defences
The government has been urged to further increase spending on flood defences by £20m per year for the next 25 years in order to keep pace with escalating risks caused by severe weather patterns.
Insurers welcome Flood Re but call for clarity over liability
Insurers’ agreement to the terms of the Statement of Principles for another two years will provide the Association of British Insurers and government enough time to resolve outstanding issues around the implementation of Flood Re, according to the trade…
Editor's comment: Flood Re: worth the wait?
When something is worth waiting for, the anticipation can make the reward even sweeter.
Insurers back “first step” Flood Re announcement
The UK’s largest general insurers have expressed delight at the announcement of a deal on flooding cover for UK homes.
Government to extend regulatory powers over insurers and seek EC approval for Flood Re
The government is seeking new legal powers enabling it to force insurers to cover "their share" of policyholders living in high flood risk areas.
Chancellor commits to new flood defence investment
The Chancellor of the Exchequer has vowed to invest in new flood defences, despite announcing that the Department for Environment, Food and Rural Affairs will see its budget cut by 10%.
Insurers urged to develop telematics as young driver green paper delayed
Insurers frustrated as Department for Transport announces hold-up.
Re-worked 'Flood Re' expected to be laid out in imminent Water Bill
Details of the Association of British Insurers’ long-awaited flood risk solution are expected to come into focus this week following a government spending review and the introduction of the Water Bill.
ABI hits back at Law Society over PI campaign
The Association of British Insurers has criticised the Law Society’s advertising campaign for personal injury, which features the strapline “Don’t get mugged by an insurer – use a solicitor.”
Flood deal appears close as Letwin headlines ABI conference
The Association of British Insurers has offered the biggest hint yet that an agreement on implementing its ‘Flood Re’ proposal is imminent, having confirmed that Oliver Letwin MP will deliver a keynote speech at its upcoming conference.
Payment Protection Insurance: Paying the price
With payment protection insurance complaints putting a seemingly never-ending financial strain on the industry, can the product ever bounce back?