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News Tag: Association of British Insurers

December 14, 2012

Car insurance prices falling

by Jan Harris
Car insurance prices falling
The cost of car insurance fell by 6.6 per cent this month, compared with a year ago, according to Tiger Watch, the car insurance price monitor produced by Tiger.co.uk. Compared with November, prices increased by 0.4 per cent, but across a three month period, prices have fallen to a two-year low. Competition between insurance providers is pushing prices down, according to Tiger.co.uk. However, the gap ...




November 26, 2012

200,000 homes could be left without flood insurance

by Jan Harris
200,000 homes could be left without flood insurance
With flood warnings in place across the whole of England, the Association Of British Insurers (ABI) has warned that 200,000 homes could soon be left without insurance. The ABI claims that it has reached crisis point in its talks with the government over replacing an agreement which ensure that households in area at high-risk of flooding can secure insurance. The ...




October 4, 2012

Insurers call for one-year minimum L-plates

by Jan Harris
Insurers call for one-year minimum L-plates
With an 18-year-old driver three times more likely than a 48-year-old to be involved in an accident, the Association of British Insurers (ABI) says restrictions should be placed on new drivers in order to save lives. The ABI is calling for a number of changes to the way youngsters learn to drive in the UK, including the introduction of a minimum 12-month ...




September 24, 2012

Insurers advise home owners on flood preparations

by Jan Harris
Insurers advise home owners on flood preparations
With sixty-five areas of England on flood alert, the Association of British Insurers is warning home owners to keep insurance documents and emergency contact details in a safe, dry place. Contacts for gas, water and electricity providers should also be kept safe. The organisation is advising people to check their gardens, as winds of up to 60mph are expected to hit the ...




July 16, 2012

ABI says Labour’s pension warning is misleading

by Jan Harris
ABI says Labour’s pension warning is misleading
A new report by the Labour Party on pensions has been criticised by the Association of British Insurers (ABI) as badly timed and misleading. The report, by shadow work and pensions secretary Liam Byrne, supports earlier comments by Ed Miliband that pension fees and charges could erode half of a retiree’s pension fund. The Labour Party is calling for pension charges to ...




April 5, 2012

Insurance industry to signpost services for older customers

by Jan Harris
Insurance industry to signpost services for older customers
A new initiative by the insurance industry and the UK government should make it easier for older customers to find motor and travel insurance. The Association of British Insurers (ABI) has entered into an agreement with the UK Government and the British Insurance Brokers' Association (BIBA), requiring insurers and brokers to refer clients to another provider if they are unable ...




March 22, 2012

ABI warns homeowners to watch out for subsidence

by Jan Harris
ABI warns homeowners to watch out for subsidence
The UK has suffered the driest 18 months since records and with the south east and east Anglia already officially in a state of drought the Association of British Insurers (ABI) is warning home owners to be aware of the risk of subsidence. Changing water levels in the ground can cause movement in the foundations of a building, leading to ...




March 5, 2012

Pension annuities should be clearer under new code

by Jan Harris
Pension annuities should be clearer under new code
A new code of conduct is being launched by the Association of British Insurers (ABI) which should ensure that the sale of annuities is fairer and more transparent. The new code is designed to make it easier for people to make decisions about their retirement income, including being more confident in using the so-called ‘open market option’ and shop around ...




January 31, 2012

ABI calls for action on flood insurance

by Jan Harris
ABI calls for action on flood insurance
The Association of British Insurers has warned that time is running out to ensure that UK home owners in areas at risk of flooding can afford to insure their properties in the future. A voluntary flood agreement between the government and the insurance industry expires in June 2013. Under the current agreement, which started in 2000, insurers are required ...




December 1, 2011

Insurance costs unaffected by fitting winter tyres

by Jan Harris
Insurance costs unaffected by fitting winter tyres
The Association of British Insurers (ABI) today said that motorist should not be charged extra on their motor insurance for fitting winter tyres. The ABI’s members, which together account for around 90% of the motor insurance market, have confirmed that they will not expect motorists to pay additional premium if they fit winter tyres, provided that the tyres are up ...




November 17, 2011

Pet Insurance Fraud Soars

by Jan Harris
Pet Insurance Fraud Soars
Pet insurance fraud almost quadrupled last year according to the Association of British Insurers (ABI). In 2010 pet insurance fraud totalled £1.9 million, while in 2009 it was just £420,000 according to the ABI’s figures, although the true scale is believed to be even higher. Policy holders are trying to cheat the system in a number of ways including getting rid of their ...




June 13, 2010

Think tank urges savings reform

by Kay Mitchell
”Think
A report by the Centre for Policy Studies think-tank has said the UK's savings system needs to be reformed in order to encourage people to bank their money. According to the think tank, schemes need to be simplified if people are going to save as the current system is too complex with multiple tax regimes. The Centre for Policy Studies is suggesting ...




March 11, 2010

Treacherous weather conditions cost insurers £650m

by Kay Mitchell
Treacherous weather conditions cost insurers £650m
The Association of British Insurers (ABI) today reported the heavy snowfall earlier in the year cost insurers £650 million in weather-related claims. Between December 18 and January 13, when snow and plummeting temperatures swept the country, there were around 335,000 claims, said the ABI. The majority of the claims came from motorists as a result of the treacherous conditions on Britain’s roads. January ...




April 16, 2009

Fraudulent insurance claims on the rise due to recession

by Kay Mitchell
”Fraudulent
According to the Association of British Insurers (ABI), the recession has sparked an increase in the number of fraudulent insurance claims. The ABI found that around 107,000 claims totalling £730 million were false last year - this value was up 30% on 2007, with the figure rising since 2004. Figures show that the most common fraudulent claims were home insurance ...




July 11, 2008

Agreement reached to ensure homes will get flood cover

by Kay Mitchell
”Agreement
A deal has been reached between the Government and the Association of British Insurers (ABI) to ensure that homes will continue to receive flood cover. Last month, the ABI warned the Government to take action against floods as its members will stop insuring people in high risk areas. The ABI has been urging the Government to pump more funds into ...