Association of British Insurers (ABI) News

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 …

$11+ Million a Day in UK Flood Insurance Claims Says ABI; Total $1.8+ Billion

The Association of British Insurers (ABI) has calculated that insurance claims from the recent spate of floods in the UK are averaging £6.7 million a day [$11.176 million]. The ABI said the “wettest winter on record is likely to result …

UK’s ABI Pushes for Autonomous Emergency Braking System to Reduce Accidents

The Association of British Insurers (ABI) has issued a call for UK automobile manufacturers to fit autonomous emergency braking (AEB) as standard on all new cars. “AEB uses radar, lasers and optical sensors to identify other vehicles and pedestrians and …

UK Insurers to Pay Out $701 Million from December, January Floods

The insured bill for the damage caused by the storms and flooding over the Christmas 2013 and New Year period looks set to cost £426 million [$701 million], according to the Association of British Insurers (ABI). The ABI said that …

ABI Calls On UK Government to Enact ‘Whiplash’ Reforms

The Association of British Insurers has long targeted the epidemic of automobile accidents that result in claims for “whiplash” injuries for reform. In April it highlighted the fact that the UK was the “whiplash capital of Europe.” In its most …