Association of British Insurers (ABI)
Insurance sector welcomes changes to Online Safety Bill
The Department for Culture, Media & Sport announced yesterday that the Bill has been adapted to include paid-for scam adverts on platforms like Facebook, Twitter and Instagram.
Industry pulls together to mitigate flood risk
The British Insurance Brokers’ Association, the Association of British Insurers, and Flood Re have launched a Flood Insurance Directory to help customers access flood cover.
ABI pledges to double apprenticeships by 2025
The organisation has committed to offering 2,500 apprenticeships over the next three years and increasing inclusivity across the sector.
HMRC flags potential code of conduct for brokers in IPT consultation update
Government outlines the next steps and details responses from industry stakeholders, including brokers, insurers and trade bodies.
Regulatory framework review draws mixed reactions from trade bodies
Mixed responses from trade bodies as the government sets out proposals for adapting the UK regulatory framework for financial services post-Brexit.
ABI names director general
Hannah Gurga will replace Huw Evans in 2022 as former MP Nicky Morgan is revealed as independent chair.
Insurance trade associations create fair value template
In an attempt to help firms better prepare for the Financial Conduct Authority's new product governance rules, trade associations representing the general insurance market have produced a fair value assessment template.
Biba hopes "win-win" flood directory will help improve industry reputation
Executive director Graeme Trudgill says signposting service is a chance for the industry to come together and urges brokers to get involved.
Biba, ABI and Flood Re open registration for flood directory
The directory is set to launch later this year and the organisations are now calling for specialist brokers and providers to register to be part of the service.
Fraudulent claim value goes up but detection rates also increase
ABI data shows the average fraudulent insurance claim has now reached £12,000 as the the body praises the efforts made by insurers’ fraud investigation teams throughout the pandemic.
Agreement to speed up claims in pandemic expires
The ABI and ASCO have agreed to set aside the statement of intent develop to speed up claims resolution in the wake of the pandemic.
Pandemic pushes SMEs to rely on credit to fund business insurance
Three out of four SME bosses who use credit to pay for insurance premiums have said that the impact of COVID-19 is the main reason for increased borrowing, Premium Credit finds.
Industry warned of "bumpy ride" ahead after FCA confirms dual pricing ban
While insurance experts have welcomed the regulator's new rules on pricing, coming into force in January 2022, some warn that the reforms will present challenges for the sector.
Government closes £10bn trade credit scheme and announces market review
The temporary measure was developed to respond to the Covid-19 pandemic as government also announces a review to ensure outcomes are good for consumers.
Huw Evans to exit the ABI
The insurer trade body will commence its search for a replacement director general shortly as it reveals Evans will be joining KPMG in January 2022.
ABI launches flexible working charter
Signatories, which include Aviva, Ageas, Allianz, Covea, Ecclesiastical, LV, and Zurich, commit to opening up the majority of their roles to flexible working, job sharing and part-time working.
BLM launches cross-industry property damage body to combat claims surge
The industry-wide property damage Task Force is meant to bring insurers, brokers, loss adjusters, legal specialists, and corporates together to identify emerging issues in the property claims sector.
IPT-threat level raised
The “soft target” tax is under threat amid economic uncertainty but the sector is still arguing for a cut or a freeze.
Biba zones in on resilience in 2021 manifesto
Manifesto includes a number of commitments from the broker trade body, covering areas including underinsurance as a result of the pandemic, IPT, cyber insurance and signposting to help customers access insurance.
Blog: Why the BI ruling offers brokers the perfect opportunity to show their mettle
Following the Supreme Court business interruption ruling last week, Jonathan Swift argues brokers need not join their insurer partners in suffering Murder By the Orient Express, but instead play an important role in helping policyholders understand what…
Insurers urged to pay claims quickly following BI ruling
The Supreme Court concluded the Covid-19 business interruption dispute by substantially ruling in favour of policyholders.
Scheme to protect credit insurance transactions extended
The UK government, the Association of British Insurers (ABI), Euler Hermes and other underwriters have agreed to extend the State Support Scheme as providers warn of increased insolvencies.
FCA and insurers apply to leapfrog appeals to Supreme Court in BI test case
Regulator says discussions between the parties involved in the case continue ahead of the next hearing on 2 October, as the watchdog along with seven insurers file "precautionary" applications to skip Court of Appeal.
Biba urges industry to be mindful of its reputation after BI judgment
Broker trade body says it hopes the industry can move on following the High Court's decision yesterday and that any appeal will be “sorted out quickly” for the sake of policyholders.