Association of British Insurers (ABI)
Government’s motor insurance taskforce report sparks ‘fudge’ and ‘credible job’ reactions
The government has published its Motor Insurance Taskforce Report, whose work has been both praised as a “credible job” and slammed as “rehash” and a “fudge”.
Cyber claims payouts up 230% – ABI
Cyber claims payouts have increased 230% year-on-year to £197m in 2024, according to the Association of British Insurers.
FCA claims it is already overseeing changes following Which? super-complaint
The Financial Conduct Authority has highlighted it has already identified issues that need to be fixed in the home and travel insurance market and is focused on making sure the changes required are made following Which? filing a super-complaint.
Motor premium prices drop 3% in Q2 – ABI
Average motor insurance premiums fell by 3% in the second quarter, taking the annual drop to 9.6%, according to the Association of British Insurers.
ABI calculates subsidence claims topped £150m in H1
Subsidence-related insurance claims totalled £153m in the first half of 2025, the Association of British Insurers has confirmed.
Property payouts hit £1.6bn in second quarter
Insurers paid out £1.6bn for property insurance claims during the second quarter of the year, research from the Association of British Insurers has shown.
Home insurance premiums flat in Q2 – ABI
The average price of combined building and contents home insurance was stable in the second quarter of 2025 at £391, according to the Association of British Insurers.
Experts respond to ‘much ado about nothing’ FCA premium finance review
“After weeks of speculation, the overall feeling is one of ‘much ado about nothing’ – especially if you’re a firm doing the right thing,” said Michael Sicsic, managing partner of Sicsic Advisory, on the Financial Conduct Authority’s premium finance…
ABI hails ‘welcome relief’ of government’s flood defence spending commitment
The Association of British Insurers has welcomed the government committing to spend £7.9bn on flood defences over the next decade.
Flood defence commitment welcomed amid calls for more sustained funding
Insurance industry leaders have welcomed the government’s commitment to flood defence investment in the Spending Review; but cautioned more needs to be done to protect UK homes and the economy.
Blog: Young talent now will fix future recruitment challenges
With an ageing industry and recruitment being cited as one of the main challenges faced by insurance firms, bringing in younger talent into insurance is vital, but is the industry doing enough? Rosie Simms surveys the landscape.
Chris Bose named ABI director of general insurance and international
The Association of British Insurers has appointed Chris Bose as director of general insurance and international, joining from Nationwide Building Society.
City of London Police leads nationwide crackdown on ghost broking
The City of London Police’s Insurance Fraud Enforcement Department has led a nationwide period of action targeting ghost brokers in a coordinated crackdown on insurance fraud.
IFB warns on sharp rise in ghost brokers
The Insurance Fraud Bureau has launched a national campaign with the Association of British Insurers and City of London Police to raise awareness of the dangers of ghost broking with the fraud growing by over 50% in two years.
Quarterly weather related claims top £200m for first time – ABI
The Association of British Insurers has found claims for weather-related damage to people’s homes and possessions has hit £226m for the first time ever between January and April.
IPT receipts surge 9% to £8.88bn in 2024/25
Data from HMRC has confirmed receipts from Insurance Premium Tax jumped by £737m in the 2024/25 financial year reaching a new high of £8.88bn.
Aviva reports 18% increase in ghost broking frauds in 2024
Aviva detected an 18% increase in ghost-brokered policies and linked an additional 8,600 cases to open investigations into known ghost broking cases in 2024.
People Moves: 31 March – 4 April 2025
Follow the latest personnel moves in insurance.
Experts respond to FCA shelving ‘flagship initiatives’ on enforcement, D&I and non-financial misconduct
The Association of British Insurers has welcomed the Financial Conduct Authority’s decision not to push ahead with enforcement investigation publicity plans, also known as ‘name and shame’.
FCA u-turns on enforcement transparency proposals
The Financial Conduct Authority is not going ahead with changes to announcing enforcement investigations, proposals that were labelled ‘name and shame’ and led to a huge outcry across the financial services market.
Insurers and brokers must develop services to help customers understand risks – Neil Galjaard
A panel at the Association of British Insurers annual conference explained SMEs and mid-corporate businesses need education on risk management, with insurers and brokers playing a key role.