Association of British Insurers (ABI)
Weather claims to hit £750m as industry waits for SoP announcement
The insurance industry is hopeful that the government will finally release details of the flood risk model that will replace the Statement of Principles before its summer recess next week.
Post magazine - 12 July 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Brokers insist on level playing field over EC Insurance Mediation Directive
Insurers have been dragged into the mandatory commission disclosure debate by disgruntled brokers demanding a "level playing field", following the latest publication of the revised Insurance Mediation Directive.
Insurer flood debate at "advanced stage" with Defra
The Association of British Insurers is in "advanced stages" of discussions with the government to find a replacement for the statement of principles, which ensures that homeowners in flood-risk areas are able to get insurance, when it expires in July…
Londoners let down by riots compensation process, claims ABI
The Association of British Insurers has accused the riot compensation scheme of "failing too many Londoners".
Market moves: Insurance takes the initiative
Last week saw the recruitment initiative wrestled back from the broking sector, with the majority of hires coming from within the insurer space. Headline appointments in that sphere came thick and fast in the form of a changing of the guard at Catlin…
ABI agreement ensures insurance-seeking motorists must quote licence number
The Association of British Insurers is hopeful of reducing fraud after reaching an agreement with the DVLA under which motorists must reveal their driving licence number when applying for insurance.
Roundtable: How can fraud be halted at the underwriting stage?
There has long been a focus on fighting fraud at the claims stage, but could more be done to discourage would-be fraudsters at an earlier juncture?
Commercial Property: Too little, too late
Property underinsurance creates a real headache for insurers and their clients, often not discovered until a claim is made. So, where does the buck stop for accurate valuations?
Prudential CEO to become ABI chairman
Tidjane Thiam has been appointed chairman of the Association of British Insurers with effect from 3 July.
Insurers continue to safeguard cover for those taking predictive genetic tests
Thousands of people who undergo genetic tests for conditions such as Alzheimer's and cancer will continue to benefit when taking out insurance, thanks to an extended agreement announced today by Public Health Minister Anne Milton.
Scrap metal bill to get second reading in House of Commons
A Private Member's Bill that would give local councils and the police greater powers to suspend and revoke the licences of dodgy scrap metal dealers is to undergo a second reading in the House of Commons next month.
CII awards industry veterans for commitment to insurance
The Chartered Insurance Institute has honoured Dr Peter Williams and Graham Doswell with the President's Award for dedication, commitment and professionalism.
Comment: Selective insurer hearing
Is the insurance industry alert to the turning tide of public opinion against it, asks Tom Jones.
Executive remuneration: For what it's worth
Executive remuneration in insurance has come under the spotlight following a shareholder revolt at Aviva, but what went wrong and how will its impact be felt throughout the wider industry?
Age charities warn insurance industry signposting will be scrutinised closely
The effectiveness of the industry's signposting service is expected to come under increased scrutiny from age-related charities, following the Home Office decision to exempt financial services from the incoming Equality Act.
ABI backs government plans to reform executive pay
The Association of British Insurers has welcomed the government's "practical and workable" plans to tackle excessive executive pay.
Three in four people encouraged to claim compensation
The Association of British Insurers said that a survey has shown that three in four people have received an unsolicited text or phone call from a claims management company offering the chance to claim compensation.
ABI backs Home Office decision to omit industry from Equality Act
The Association of British Insurers has thrown its support behind a Home Office announcement that imminent discrimination laws will not apply to the insurance industry.
Claims bosses urge insurers to develop integrated localised flood response
Flooding in areas of the UK previously considered low risk has led claims bosses to urge insurers to concentrate on developing an integrated localised flood response, while arguments over a collaborative risk transfer solution rumble on.
Property claims: Long-term fix for UK flood may be a compromise
The expiration of the Statement of Principles has been described as the "end of the temporary sticking plaster" by Zurich property claims director Jon Cawley, who has argued that the solution to flood risk cover is a combination of current industry and…
Editor's comment: Network connections
With rumours buzzing round the market about the nature of the fall out between Aviva and Broker Network, there have been inevitable suggestions of a sign that insurers are giving further thought to the value derived from some networks.
Flood cover: Sink or swim?
The expiry of the Statement of Principles is a year away, and the industry is looking for a replacement to cover the impact of flooding. Two ideas have been floated, but which will sink and which will swim?
ABI hits back following industry grilling over riot response
The ABI has moved to defend its members in the face of stinging criticism that the industry has taken too long to pay out on claims originating from riots last August.