Insurers paid out a record £585 million (US$724.7 million) for weather-related damage to people’s homes and possessions in 2024 in the United Kingdom, according to the latest data from the Association of British Insurers (ABI). The record claims come following …
Britain’s insurers set out plans on Monday on how to channel billions of pounds freed up from their safety buffers into infrastructure such as EV charging stations to boost growth. The new Labour government in Britain has said that chunks …
Travel insurance policies “will likely” cover injuries sustained by aircraft turbulence, but policies may vary, the Association Of British Insurers said following the Singapore Airlines SIAL.SI incident on Tuesday. One passenger died of a suspected heart attack, and 30 were …
Motor premiums increased by just 1% in the first quarter of 2024, indicating an easing of the price rises seen in 2023 when premiums rose by 25% from 2022, according to the Association of British Insurers. However, insurers continue to …
The rising cost of car insurance has triggered a barrage of complaints in the cost of living crisis, Britain’s financial watchdog told lawmakers on Wednesday, as the sector insisted that prices remain at 2018 levels in real terms. Matt Brewis, …
Britain’s homes and businesses received 4.86 billion pounds ($6.07 billion) in property insurance payouts in 2023, up 18% from a year earlier, as weather-related home claims hit a record high, the Association of British Insurers said on Monday. Weather-related home …
Britain’s markets watchdog has ordered more than 1,000 banks, insurers and brokerages to report how many sexual harassment, discrimination and other non-financial misconduct cases they have recorded since 2021 and how they have dealt with them. The Financial Conduct Authority …
Representatives from finance firms across the City of London said more work was needed to tackle gaping gender disparities in the industry, even after companies have made gains in the past five years. Trade groups representing hedge funds, banks and …
The Bank of England said on Tuesday it will check the health of general insurers in 2025 with a “stress test” that includes a rapid series of shocks, as sector capital rules are eased. Regulators have introduced stress tests since …
Motorists in Britain should brace for another year of steep insurance rises as providers confront cost pressures, industry figures have warned. Admiral Group Plc will continue increasing motor insurance prices and expects the rest of the market to follow suit, …
