Association of British Insurers (ABI) News

UK Government, Insurers Reach Agreement to Establish Flood Re

The UK’s insurance industry and Government have announced the final agreement securing the development and delivery of Flood Re, described as a “pooled insurance system which will allow even the highest risk homes to insure against floods,” by the Association …

ABI Welcomes UK Government’s $3.6 Billion Flood Defense Plan

The Association of British Insurers (ABI) has commended the UK government’s adoption of plans to tackle flooding announced today, which include plans to spend £2.3 billion ($3.6 billion] on building defenses to reduce the damages caused by floods that regularly …

Evans to Succeed Thoresen as ABI Director General

The Association of British Insurers (ABI) announced that Huw Evans will succeed Otto Thoresen as Director General in February 2015, as Thoresen will assume the chairmanship of the National Employment Savings Trust (NEST). ABI chairman, Paul Evans, said: “On behalf …

ABI ‘Frustrated’ by Judgment Applying LASPO to Mesothelioma Claims

A recent decision by the UK’s High Court to apply Legal Aid, Sentencing and Punishment of Offenders Act (LASPO) to mesothelioma claims has triggered a negative response from the Association of British Insurers (ABI). James Dalton, the ABI’s Head of …

ABI Faults UK’s CMA for Failing to Address Replacement Car Costs

The Association of British Insurers (ABI) has cited the Competition & Markets Authority’s (CMA) failure to tackle the excessive charges made by credit hire firms for replacement vehicles as “bad news for consumers.” The ABI said that instead of “driving …

ABI Proposes Initiative to Improve Policy Clarity for Customers

The Association of British Insurers (ABI) announced that it has written to the UK’s Financial Conduct Authority (FCA) to propose an initiative that “could further improve clarity for customers when renewing and taking out motor and home insurance.” The announcement …

ABI Lauds Arrest of 11 Persons for Travel Insurance Fraud

A bulletin on the website of the Association of British Insurers (ABI) notes that a “nationwide operation into suspected fraudulent travel insurance claims led by the City of London Police’s Insurance Fraud Enforcement Department (IFED) has resulted in 11 arrests. …

ABI Lauds Government Measures to Stop Fraudulent Claims

The Association of British Insurers has commented on the measures introduced by Justice Secretary Chris Grayling, announcing “a major crackdown on insurance fraudsters and dishonest claims as part of new measures to benefit honest motorists.” The ABI said the “new …

ABI Calls for Action as Fraudulent Accident Claims Rise by 18%

The Association of British Insurers latest study concludes that “the value of fraudulent insurance claims uncovered by insurers rose to a record £1.3 billion [$2.177 billion] in 2013, up 18 percent on the previous year.” Those figures “are more than …

ABI Commits $19+ Million to Insurance Fraud Enforcement Department

The Insurance Fraud Enforcement Department (IFED) will continue to play a key role in tackling insurance fraud after members of the Association of British Insurers (ABI) committed to invest £11.7 million [$19.423 million] over the next three years. The ABI …