Association of British Insurers (ABI)
ABI slams FSCP's proposed automatic-upgrade rule to tackle dual pricing
Consumer body's suggestion follows the super-complaint from Citizens Advice.
Insurers could face fines for £4bn dual pricing "rip off"
The government is set to give the Competition & Markets Authority power to bypass the courts and fine firms that exploit loyalty.
Motor market records best year since 1985 ahead of troubled future, says EY
FCA pricing investigation and Civil Liability Act are expected to depress profitability in future years.
Government launches IPT review
HMRC calls for evidence from the insurance sector, admitting the current IPT model can lead to “unfair tax outcomes in the insurance industry”.
Quizzical questions: 3 May 2019
Test your knowledge of the week's news with our topical news quiz.
Cost of motor insurance falls again
Survey by ABI reveals average motor insurance premiums dropped for the fourth quarter in a row.
News analysis: As the cyber row hots up, who will be on the right side of history?
Martin Friel cuts through the noise to get to the truth about cyber.
Podcast: The top five stories of the week
Siân Barton and Ida Axling discuss the most popular news pieces from the past five days.
Cyber row continues as ABI responds to Mactavish
ABI director general Huw Evans says Mactavish has “fundamentally misinterpreted” how cyber products are provided, after the insurance governance expert called on the industry for a guarantee that eight particular policy flaws won’t be used as reasons for…
Government to launch operational review of IPT
Insurance industry welcomes review into fairness and efficiency of IPT, but the ABI pledges to continue its campaign to keep the rate from increasing further.
Industry urged to tackle dual pricing
Citizens Advice calls for dual pricing discussion to “begin from the assumption that pricing differences are unfair” at Parliamentary meeting of regulators and trade bodies.
ABI slams “unforgivable” no-deal Brexit
Huw Evans described it as an act of economic and social self-harm and outlined potential damage to the insurance sector.
Market welcomes Pool Re non-damage BI extension
The Counter Terrorism and Border Security Bill, which outlines how Pool Re can operate, received Royal Assent yesterday (13 February).
UK signs post-Brexit insurance deal with Switzerland
Zurich boss Tulsi Naidu welcomes the arrangement.
Cost of motor cover falls says ABI
Association’s Premium Tracker says that actual cost of cover dropped despite an average rise in premium paid in Q4 last year compared to Q3.
Biba warns of 'uncharted waters' as Theresa May's Brexit deal is rejected
CEO Steve White reiterates call for greater access to the European market for brokers after the UK leaves the European Union.
UK insurance industry paid out £55bn in 2017
Sector also made a contribution to the UK economy worth £29.5bn and paid close to £12bn in taxes, according to the ABI.
Insurers celebrate at Civil Liability Bill gaining Royal Assent
However the ABI noted that the “clock is now ticking” on the first review process into how the discount rate is determined.
ABI responds to CMA’s pricing investigation
Competition watchdog criticised the sector and called for pricing intervention options.
UK subsidence claims jump to £64m in Q3 2018
July, August and September saw highest level of subsidence claims since the record-breaking heatwaves of 2006 and 2003.
Biba repeats call that brokers should prepare for no deal Brexit
Steve White warns that passporting will end.
Podcast: The top five stories of the week
Ida Axling and Emmanuel Kenning chat through brokers' most popular stories.
Quizzical questions: 23 November 2018
Test your knowledge of the week's news with our topical quiz.
Motor insurance pay-outs soar to record levels
ABI data shows that the cost of theft claims has surged by 32% to £271m in the first nine months of 2018.