Tag: Association of British Insurers

ABI warns homeowners to watch out for subsidence

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 [...]

March 22, 2012 | 0 Comments More
Pension annuities should be clearer under new code

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 [...]

March 5, 2012 | 0 Comments More
ABI calls for action on flood insurance

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 [...]

Insurance costs unaffected by fitting winter tyres

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 [...]

Pet Insurance Fraud Soars

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 [...]

Think tank urges savings reform

Think tank urges savings reform

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. [...]

Treacherous weather conditions cost insurers £650m

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 [...]

Fraudulent insurance claims on the rise due to recession

Fraudulent insurance claims on the rise due to recession

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 [...]

Agreement reached to ensure homes will get flood cover

Agreement reached to ensure homes will get flood cover

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 [...]