Association of British Insurers (ABI)
JCG uplift of 22% could mean small track claims limit is increased
The incoming uplift for personal injury claims recommended in the Judicial College Guidelines might need to see an upheaval in limits applied to the Official Injury Claims portal.
Why we empathise with consumers on premium prices
Mark Shepherd, head of general insurance policy at the Association of British Insurers, explains why empathising with motor insurance customers is crucial and how the trade body is helping providers to improve the communication of product value at…
Motor insurers should stop apologising for premiums
Editor’s View: Rather than toadying to MPs by promising to tackle premiums, Emma Ann Hughes argues providers should do a better job of explaining the value of car insurance.
ABI insists fire safety scheme is temporary
Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning…
Price of tower block insurance finally slashed
Insurance premiums for leaseholders waiting for combustible material to be removed from their blocks of flats could plummet by up to two thirds following the launch of the Association of British Insurers’ Fire Safety Reinsurance Scheme today (13 March),…
IPT haul helps Hunt fund 2p National Insurance cut
In today’s Budget documents, the Office for Budget Responsibility increased its estimated tax haul from insurance premium tax by more than £370m between 2023-24 and 2028-29.
Why the ABI is getting Snippy on insurance premium tax
Trade Voice: Chris Blackwood, head of communications at the Association of British Insurers, explains the trade body’s efforts to ‘unmask’ insurance premium tax.
Motor insurance ‘as affordable now as it was in 2018’
Sabre CEO Geoff Carter has said that the burden of paying for motor insurance premiums is no worse now than it was in 2018.
Roundtable: The future of mobility – is the courtesy car still viable?
Is the courtesy car a relic of the past? Insurance industry and body shop representatives explored this question and new mobility options at a recent Insurance Post roundtable held in association with Enterprise-Rent-A-Car roundtable. Izabela Chmielewska…
Labour promises to rip up red tape for insurers
Tulip Siddiq, shadow economic secretary to HM Treasury, has promised if the Labour party gets into power she will make sure regulation encourages growth and competitiveness in the insurance industry.
Treasury tells insurers to take advantage of Brexit bonfire
Insurers must make the most of the Conservative government ripping up the Solvency II rules and replacing it with Solvency UK requirements, according to Bim Afolami, economic secretary to HM Treasury.
ABI outlines plan to tackle motor insurance premiums
The Association of British Insurers has unveiled steps the industry will take to bring down motor insurance premiums after the cost of cover soared by 25% in 2023.
Big Interview: Rachel Lam, ombudsman director, FOS
Rachel Lam, ombudsman director for insurance at the Financial Ombudsman Service, speaks exclusively to Insurance Post’s Editor Emma Ann Hughes about her work with providers and the Financial Conduct Authority to address the sector’s shortcomings.
Motor and home pricing stability not quite on the horizon
Pearson Ham experts suggest expecting personal lines pricing stability may be “premature”, as its quarterly premium tracker reveals a slowdown in motor premium growth while home continues to increase.
ABI still 40% short of capacity for fire safety scheme
The Association of British Insurers’ Fire Safety Reinsurance Scheme, designed by McGill and Partners, is still some way off launching, despite numerous claims it would be ready by the end of summer 2023.
ABI’s Clark spells out home truths on rising premiums
Trade Voice: Louise Clark, property adviser at the Association of British Insurers, says rising premiums need to be understood within the context of increasing price pressures on insurers.
Severe weather to continue to hit UK as insurance reacts to Storm Henk
As homes and businesses face damage from floods caused by Storm Henk, predictions state that the severe weather is not yet over.
Storm Gerrit packs a punch to property
Association of British Insurers confirms priority for providers is helping homeowners in Manchester whose homes were torn apart last night by Storm Gerrit.
Treasury haul from Insurance Premium Tax up 11%
UK PLC looks set to register yet another record annual Insurance Premium Tax haul as actuarial consultancy OAC reveals receipts for first eight months of 2023 are up 11% increase on the same period last year.
Motor insurance complaints hit five-year high
The latest Financial Ombudsman Service data, published today, shows a spike in motor insurance cases caused by valuation disputes, customer service issues, and delays in payouts.
Big Interview: Nadia Côté and Serge Raffard, Allianz
After being named managing directors of Allianz Commercial and Allianz Personal, respectively, Nadia Côté and Serge Raffard met with Scott McGee to discuss their respective markets, how they have settled in, and where they see their businesses growing in…
Could COP 28 leave insurers with more stranded assets?
As COP 28 kicks off on 30 November, Emma Ann Hughes examines how the race to net zero is creating stranded assets, affecting insureds and insurers.
PL insurers continue to face rising material and labour costs
Both home and motor insurers are continuing to feel the effects of the rising costs of labour and materials, according to reports from Verisk and the Association of British Insurers.
Growth expected in premium income in 2023
Insurers are set to report growth in premium income for the rest of 2023 before tapering off, according to EY.