Association of British Insurers (ABI)
L&G: escape of water claims cost £730m
The L&G (Legal & General) ‘stop the drop’ campaign has underlined the fact that house insurance claims from an escape of water damage in UK homes cost the insurance industry £730m - almost double the £370m cost of burglary claims over the same period.
Your say: Tackling fire remains a priority
You are right to think that both this government and the last have not been receptive to arguments by the insurance industry and sprinkler lobby pressing for a more widespread fitting of sprinkler systems.
News analysis: IFB’s three-year strategy wins financial backing from insurers
The Insurance Fraud Bureau is to more than double in size in its crackdown on professional enablers.
Fraud event: Top London cop in tune with fraud fears
City of London Police Commander Ian Dyson has admitted that if the insurance industry had not stumped up the cash for the new dedicated counter-fraud unit, it would not have been formed. He also empathised with insurers’ fears that funding the unit could…
ABI mulls development of no-claims discount register
The Association of British Insurers is considering setting up a no-claims discount register in the wake of the creation of the industry’s Insurance Fraud Register.
Rating factors - Age: Age-old dilemma
After losing the battle to use gender as a rating factor, could the insurance industry be facing a new threat as age falls under the spotlight?
MoJ reaffirms ban on referral fees
Justice Secretary Kenneth Clarke has announced that the banning of referral fees will be debated in the House of Common next week and, if passed by vote, will be added to Legal Aid, Sentencing and Punishment of Offenders Bill which is currently…
Thai flood losses set to escalate - Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including feelings of a “whiff of Katrina” among loss adjusters about the Thailand floods that have already inundated two industrial estates in Bangkok - affecting…
ABI helps tackle insurance application form fraud
On 27 October the Association of British Insurers will publish industry guidance to help insurers, brokers and comparison websites better identify insurance application form fraud.
IFB seeks to double staff numbers with 25% increase in industry levy
The Insurance Fraud Bureau is to double its staff by increasing its industry funding levy income by 25% to £2.8m.
Claims event: PI lawyers unmoved as insurers call for legal claims costs reduction
Personal injury lawyers refused to bend to insurance industry demands for the cost of processing legal claims to be reduced, following the imminent abolition of referral fees, in a heated panel debate.
Claims event: ABI urges ‘shared responsibility’ for flood cover
Homeowners living in high flood risk areas could potentially see their insurance part-covered by government subsidies after the Statement of Principles agreement expires.
News analysis: Call for mandatory sprinkler systems reignited by Dunelm Mill fire
On 6 October 2011, local fire fighters lamented the absence of sprinklers in a Dunelm Mill store that suffered a major blaze on the Orchard Retail Park in Willenhall, Coventry.
ABI warns over government planning reforms
The Association of British Insurers has warned that government plans to reform the planning process must not lead to unwise developments being built in flood risk areas making flood insurance more expensive or even unobtainable.
Wood kicks off recruitment drive for fraud unit as threat assessment begins
The detective chief inspector charged with heading up the Association of British Insurers-funded fraud unit will wait for the results of an initial threat assessment before targeting specific areas of vulnerability within the industry.
ABI director hits out at pleural plaques ruling
The ABI director of general insurance and health has been quick to register his disappointment following today’s Supreme Court ruling that the Scottish Parliament acted within its powers in making pleural plaques compensatable.
TSC risks missing the point about motor insurance pricing
The Association of British insurers has responded to the results of a Young Marmalade survey which revealed that 96% of young drivers feel priced off the road by high insurance premiums.
UK regulator expects Solvency II to be delayed
The UK's Financial Services Authority has said it expects insurers to have to comply with Solvency II rules from the delayed 1 January 2014 date.
Police chief to head insurance fraud unit
A senior City of London Police detective has been appointed to lead the specialist insurance fraud police unit.
Editor's comment: Quotas quickly quashed
Having responded to Business Secretary Vince Cable’s call to take the lead in addressing the gender imbalance on company boards, the insurance industry has resoundingly rejected the notion of quotas as a mechanism to tackle this persistent problem.
Focus on personal injury fraud means insurers missing the bigger picture
Law firm Beachcroft has warned that insurers are so focused on personal injury fraud they are missing large-scale credit hire scams.
BIS 2011: Industry must up government lobbying or risk unsustainable losses
Stronger engagement with national governments is essential to overcome the current insufficient focus on natural disaster mitigation and to push through long-term reforms that will help reduce total event cost.
News analysis: Quota calls for female board membership met with sharp scepticism
Stronger female representation on company boards is one of the recommendations laid down by the Association of British Insurers last week, in its first report on board effectiveness