Association of British Insurers (ABI)
Tax take from insurers hits record high
The Association of British Insurers’ latest Total Tax Contribution survey, produced by PWC, showed the trade association’s members contributed a record £18.5bn to the UK’s public purse in the 12 months up to 31 March 2024.
Women working in insurance earn 20% less than men
Gender pay disparities in the insurance industry continues to stubbornly persist, with virtually no companies reporting on whether an ethnicity pay gap exists.
ABI starts allyship training after Sexism in the City
The Association of British Insurers has rolled out allyship training to its member firms in response to the Treasury Select Committee’s Sexism in the City findings.
Norgrove aims to ‘dial up the voice of the SME’ in ABI role
RSA UK CEO Ken Norgrove has said he wants to use his new role at the Association of British Insurers to help small and medium-sized businesses “get their voices heard”.
RSA’s Norgrove named ABI deputy president
Ken Norgrove, CEO of UK & International at RSA Insurance, is the new deputy president of the Association of British Insurers.
Cost of insuring ground floor flats surges by 42%
The cost of insuring ground floor flats increased most significantly of any property type between April and June this year with premiums climbing by 42% from £178 to £252, according to Compare the Market.
Property insurance payouts hit record quarterly high
Insurers paid £1.4bn in claims for property damage during the second quarter of the year, according to the latest data from the Association of British Insurers (ABI).
ABI outlines plan to help Labour achieve green energy goals
The Association of British Insurers has published a 10-point action plan for green investment, matching Labour's green energy plans.
Travel insurance complaints hit highest levels since pandemic
The number of travel insurance complaints brought to the Financial Ombudsman Service has increased by 19% in the last year.
Insurers should stop looking at AI as a cost-saver
Eddie Longworth, the founder of JEL Consulting who launched the Artificial Intelligence Code of Conduct earlier this year, says the insurance industry hasn’t realised the “conundrum” about using AI and the need for talent to operate it.
ABI’s Braun receives OBE in King’s Honours List
Yvonne Braun, director of policy for long-term savings, health and protection at the Association of British Insurers, has been awarded an OBE in His Majesty the King’s Birthday Honours List.
Labour outlines plan to make car insurance prices plummet
Labour has pledged to hand cash to councils to repair up to a million potholes a year in England and announced it will make the regulator crack down on the causes of soaring motor insurance prices.
Insurance experts propose using IPT to combat premium discrimination
Insurance industry professionals have proposed that the government use insurance premium tax to address the “poverty premium” and “ethnicity penalty” in motor insurance.
Groundhog day after 39 years at the ABI
After retiring from the trade body, Malcolm Tarling, former chief media relations officer at the Association of British Insurers, urges providers to avoid trying to make their products sexy and says clear communications are essential in the fight to…
Exploring the ethnicity penalty in insurance
As the insurance industry is once again accused of discriminating against individuals living in ethnically diverse areas, Aamina Zafar considers whether providers should do a better job of demonstrating racism isn’t a factor in pricing policies.
Ransomware victims urged to consider alternatives to paying hackers
Insurance sector trade associations have collaborated with the National Cyber Security Centre on guidance that they hope will reduce ransom payments made by companies that fall prey to cyber attacks.
Movers and shakers who made Insurance Post’s Power List 2024 revealed
This year’s Insurance Post Power List reflects how claims inflation combined with the Consumer Duty caused some providers to shift their focus and disruptors found it is easier to send a rocket into space than enter the UK insurance market.
Graeme Trudgill, Biba
Graeme Trudgill was appointed CEO of the British Insurance Brokers’ Association in July 2023 and was able hit the ground running thanks to his close working relationship with predecessor Steve White.
Hannah Gurga, Association of British Insurers
Hannah Gurga, director general of the Association of British Insurers, maintains her 18th position on the Insurance Post’s Power List thanks to her efforts to prove the industry’s worth to whoever will occupy 10 Downing Street later this year.
MOJ asked for clarity on insurers saying ‘sorry’
Insurers and legal experts have welcomed a Ministry of Justice consultation on amending the law of apologies, but have called for more reassurance that saying sorry to policyholders won't be deemed an admission of liability.
Repair costs continue to push up home insurance premiums
According to the Association of British Insurers’ premium tracker, home insurance premiums increased 3% in the first quarter of 2024, following a severe winter for weather damage.
Trade bodies lambast FCA’s transparency plans
16 financial services trade bodies have warned the Financial Conduct Authority against any plans to publish details of future regulatory investigations before they reach their conclusion.
How insurance supports the growth of Glasgow
Analysis: Frances Stebbing investigates how insurance supports the growth of Glasgow and how the city is gaining ground against London for attracting and retaining fresh talent.
Motor premiums stabilise but cost to insurers mount
The Association of British Insurers’ motor insurance tracker has revealed that premiums increased by just 1% in the first quarter of 2024.