Association of British Insurers (ABI)
Brokers can no longer rely on insurer ‘pipeline’ to win war for talent
Brokers need to build their own pipeline of staff to win the war for talent because insurers are not going to do it for them anymore.
Home quote prices jump 9.3% in three months
The average quoted price for home insurance rose by 6.7% in the past year to April – the highest annual increase since 2018, the latest Consumer Intelligence Home Insurance Price Index has revealed.
Blog: How email addresses can help the crackdown on ghost broking
Brokers have an important weapon in the fight against application fraud – the humble email address – as LexisNexis Risk Solutions director Louise Johnson explains.
Treasury Committee calls for consumer questions ahead of sector grilling
The Treasury Committee has called on the public to submit questions ahead of an evidence session with insurance bosses, as it warned of hearing ‘anecdotal evidence’ in recent months of premiums rising faster than inflation, insurers refusing to pay out,…
Home insurance premiums tick up by less than inflation at 6%
The average price paid for a combined buildings and contents home insurance policy in the first quarter of 2023 was £315, according to the Association of British Insurers.
Blog: Who will replace Steve White as Biba CEO?
Seven days on from Steve White dropping the biggest Biba Conference bombshell since Boris Johnson announced he was running for the Tory leadership, Jonathan Swift considers who might be among the early front runners to replace White as the trade body’s…
Biba cancels CBI membership amid misconduct allegations
The British Insurance Brokers’ Association has confirmed to Insurance Age that it has cancelled its membership of the Confederation of British Industry amid allegations of sexual misconduct directed at senior CBI staff.
ABI names Mervyn Skeet director of general insurance policy
The Association of British Insurers has confirmed Mervyn Skeet as director of general insurance policy having held the post on an interim basis since December 2022.
Insurers face £219m bill as heatwave drives surge in subsidence claims
The record-breaking heatwave in summer 2022 has led to an increase in subsidence claim payouts, according to figures from the Association of British Insurers.
Code released to ease crisis in affordable premiums for tower block residents
The British Insurance Brokers’ Association and the Association of British Insurers have released a code for capturing risk information, one of the first steps in solving the crisis in affordable premiums for residents in tower blocks, Insurance Age can…
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.