Association of British Insurers (ABI)
Customers, society and planet are at the heart of a three-year ABI strategy
The Association of British Insurers has rolled out a three-year strategy with a core focus of driving change to support customers, society and the planet.
Home insurance prices fall again to new record low
The average cost of home insurance dropped to £300 in 2022, the cheapest since the Association of British Insurers started collecting data in 2012.
News analysis: Solvency II - should brokers be worried about the impact the reforms will have?
The government’s Solvency II overhaul will likely start this year. Politicians want to relax capital requirements to unleash investment and make the UK a more competitive country. Others have concerns about insurer failures, reports Saxon East.
Gove vows commission-chain ban as FCA buildings review on highest charging brokers imminent
A Financial Conduct Authority review into brokers charging the highest commissions for work on buildings insurance is due in just a few weeks as government minister Michael Gove vowed to ban commission-chains and bring in ‘transparent’ fees.
Sheldon Mills insists that ‘we must not lose sight’ on diversity and inclusion
The Financial Conduct Authority’s Sheldon Mills has urged the industry to do more on ensuring diverse representation and inclusive cultures.
ABI publishes new Blueprint to help improve diversity and inclusion
The Association of British Insurers has published a new Blueprint which sets out a multi-year strategy and work plan to improve diversity, equity and inclusion across the insurance and long-term savings industry.
Aviva forecasts £25bn UK investment power boost from Solvency II reforms
The Association of British Insurers has backed the government’s Solvency II reform package which Chancellor Jeremy Hunt said will “unlock tens of billions of pounds of investment for our growth-enhancing industries”.
Biba and ABI welcome IPT freeze
The British Insurance Brokers’ Association and the Association of British Insurers have both welcomed the decision by Chancellor Jeremy Hunt not to raise the level of insurance premium tax.
Zurich becomes GAIN’s first Industry Transformer member
Zurich Insurance has become the Group for Autism, Insurance, Investment and Neurodiversity’s first Industry Transformer member.
ABI urges the Chancellor to freeze IPT
The Association of British Insurers has urged the Chancellor of the Exchequer, Jeremy Hunt, to freeze the rate of Insurance Premium Tax in the Autumn Statement on 17 November.
Biba issues series of commitments after FCA flat insurance report
The British Insurance Brokers’ Association has set out a series of commitments to the Financial Conduct Authority and the government to help achieve better outcomes for leaseholders, especially those living in high rise residential buildings that require…
Blog: Inflation and underinsurance – the silent claim assassins
The spiralling cost of materials in the construction industry means devastating consequences for reinstatement claims, says Lee Goodwin of Oakleafe Claims Loss Assessors
FCA warns insurers to support customers’ wellbeing during cost of living crisis
The Financial Conduct Authority has expressed concerns, in a new 'Dear CEO' letter, that customers may cut-back on the insurance they need as pressure mounts on household budgets.
People Moves: 26-30 September 2022
Keep up to date on the latest personnel changes in insurance.
James Dalton leaves the ABI to join the MIB
The Motor Insurers' Bureau has made a series of new senior leadership hires including the director of general insurance policy at Association of British Insurers, James Dalton.
Aviva “disappointed” at other insurers for not offering fairly priced multi-occupancy building insurance
Aviva’s UK & Ireland general insurance CEO, Adam Winslow, has responded to the FCA’s report on insurance for multi-occupancy buildings and has expressed disappointment in other insurers for not offering fairly priced insurance.
Government summons ABI to meeting on FCA tower block insurance report
The Secretary of State for Levelling up, Housing & Communities has written to Hannah Gurga, director general of the Association of British Insurers, telling the industry to accelerate its work on multiple occupancy buildings insurance and solve the…
Government writes to Biba slamming “amoral” flats insurance commission and demanding change
Government minister Simon Clarke has written to Steve White, CEO of the British Insurance Brokers’ Association, demanding immediate changes to unfair commissions and a plan to reform market culture and practice after the regulator’s report into multi…
Biba welcomes FCA tower blocks insurance report and flags commission rate fall
The British Insurance Brokers’ Association has welcomed the Financial Conduct Authority’s report on insurance for multi-occupancy buildings and broadly supported the key recommendations but warned of "unintended consequences".
ABI commits to working “at pace” on pool sharing risk solution after FCA flats insurance report
The Association of British Insurers has responded to the Financial Conduct Authority’s report on insurance for multi-occupancy buildings in which the regulator called for a cross industry pool.
FCA recommends Biba works on risk pool “to limit commission costs” in flats insurance report
The Financial Conduct Authority has warned of “significant concern” over some broker commissions in the multi-occupancy buildings insurance market and taken aim at a lack of transparency by the insurance sector in its dealings with leaseholders as well…
Biba encourages brokers to use its flood directory
The British Insurance Brokers’ Association has encouraged brokers to use its flood directory to ensure eligible households that are denied flood cover can still be offered it.
Flood Re posts 18% policy growth
Flood Re has reported covering 256,634 policies in the year ended 31 March 2022, up 17.7% on the previous 12 months.
ABI lays out five climate change demands of government to take “handbrake off”
The Association of British Insurers has called on to government to do more to enable the insurance and long-term savings sector to maximise the vital role it has to play in tackling the climate change challenge.