Politics
Biba urges Chancellor not to raise IPT in the Budget
The British Insurance Brokers’ Association (Biba) has called on the Chancellor not to raise Insurance Premium Tax (IPT) above its current level of 6% in the upcoming Budget on 21 March.
Biba to investigate government CCTV fuel proposals
Graeme Trudgill, head of corporate affairs at the British Insurance Brokers’ Association (Biba), has confirmed that the trade body’s motor committee will be looking into reports that the government may be planning to use CCTV to prevent uninsured…
Insurance complications surround government CCTV fuel proposals
Drivers of uninsured cars may find themselves unable to fill up at petrol stations under new government plans, according to The Mirror.
Labour would force insurers to offer telematics
Insurers could be forced to offer telematics to potential clients under a new proposal from Shadow transport minister, John Woodcock.
ABI warns time is running out on flood insurance cover
The Association of British Insurers (ABI) has warned that the clock is ticking on the need to secure a long-term sustainable flood insurance market in the UK.
Ai Claims sees slip in profit and revenue
Ai Claims Solutions has reported a fall in profit to £858,000 in the six months to December 2011 compared to £1.2m in the same period of 2010.
Corporate Underinsurance: Improving understanding of business interruption cover
Last year's riots brought the problem of a lack of business interruption cover to the fore. What are the solutions to underinsurance in this area?
Aviva’s McMillan bullish on insurer summit outcomes
David McMillan, chief executive officer UKGI at Aviva, has told Insurance Age he was as optimistic as he had ever been on reducing the cost of motor premiums following the outcome of last week’s insurance summit with the Prime Minister, David Cameron.
Business continuity plans likely to reduce premiums
New research has suggested that insurers are happy to provide premium discounts to companies that have business continuity plans in place.
Industry agrees to reduce premiums if government action cuts legal costs
The government has made a commitment to tackle the country’s growing compensation culture, reduce legal costs and cut health and safety red tape in return for the insurance industry’s assurance that it will pass any resultant savings on to consumers.
PM to challenge industry to reduce cost of motor premiums
David Cameron will host a summit with insurance industry representatives, consumer bodies and business groups in a bid to bring down the cost of insurance premiums and tackle the country's growing compensation culture.
Motor PI portal limit extended to £25,000
The Association of British Insurers (ABI) has welcomed the government announcement to extend the claims limit for settling personal injury motor claims from £10,000 to £25,000.
Whiplash summit called to tackle rising motor insurance costs
Cabinet ministers are set to discuss tactics to get a grip on the soaring number of whiplash claims as the government continues to look at ways to tackle rising motor insurance costs.
Laspo bill delayed until April 2013
The Jackson reforms will not be implemented until April 2013, the government has announced.
ABI refuses to renew statement of principles for flood insurance
The Association of British Insurers (ABI) has hit out at the government and said it would not renew the statement of principles for flood insurance as it was supposed to be a short-term measure and grossly distorted the market.
AA warns homes may become uninsurable against flood risk
AA Insurance has called on the government to take “decisive action” before homes in flood-prone areas of the UK become uninsurable.
MPs criticise government over flood defences
The Commons Public Accounts Committee has criticised the government over flood defences and urged the Association of British Insurers to renew its statement of principles on flood insurance.
Jack Straw to "push on" with motor reform
Jack Straw has vowed to fight on in his bid to reform the UK motor insurance market despite his Motor Insurance Regulation Bill hitting the wall.
Time running out for Straw's motor bill
Jack Straw MP’s Motor Insurance Regulation Bill is to have its second reading in the House of Commons today although there is little prospect of it becoming law.
Jack Straw warns of regulatory threat facing motor insurers
Jack Straw has called on the industry, particularly insurers, to do much more to reform the private motor market or face further government intervention.
Treasury aims to tackle aloof nature and expense of regulator
The Financial Services Authority (FSA) is too expensive, aloof and bureaucratic and does not protect consumers from regulatory failure.
Biba commits to regulatory focus for 2012
The British Insurance Brokers’ Association (Biba) has revealed that its main focus for 2012 will be achieving appropriate, proportionate and cost effective regulation for its members.
Industry laments lack of referral fee bite in TSC report
The Transport Select Committee’s follow up report into the cost of motor insurance has been widely welcomed by the insurance industry but there is frustration that proposed measures to tackle referral fees do not go far enough.
Select Committee report focuses on whiplash claims and referral fees
The Transport Select Committee has called for the bar to receiving compensation for whiplash to be raised and for the receipt of referral fees to be banned across the board.