Association of British Insurers (ABI) News

‘Brexit’ a Major Political Risk for UK Insurers: ABI Chief Exec

The risk of a British exit [‘Brexit’] from the European Union is causing major political uncertainty for the insurance industry, the chief executive of the Association of British Insurers (ABI) said on Tuesday. This is compounded by the risk of …

ABI Says Cost of UK Home Insurance Falls by 6%-Buildings; 5%-Contents

The Association of British Insurers announced that the cost of home insurance has fallen over the last year according to its latest Average Quarterly Household Premium Tracker, which is based on information from ABI members, who cover 90 percent of the …

ABI Launches Campaign for ‘Flood Free’ Homes

the Association of British Insurers announced that it has launched a campaign for Flood Free Homes, “supported by Friends of the Earth, Know Your Flood Risk, National Flood Forum, and the Property Care Association’s Flood Protection Group.” The ABI said …

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. …