Tag Archives: ABI

ABI calls for national cyber database

The ABI is today calling for a national, anonymised database recording details of cyber incidents at businesses to be established in order to help the UK become a world leader in cyber insurance. The not-for-profit database would contain details of cyber incidents including business interruption losses, ransom demands, loss of confidential data, and damage to IT systems. Building on the […]

ABI outlines effects of IPT increases

With less than a week to go until Insurance Premium Tax (IPT) increases on the 1 November 2015, the Association of British Insurers (ABI) is setting out the key facts about who will be affected by the change. The standard rate of Insurance Premium Tax – the tax paid each time an insurance policy is purchased in the UK – […]

ABI calls for clampdown on rogue claims companies

The public continues to be plagued by nuisance calls or texts from companies encouraging them to claim for compensation, such as for personal injury, according to the ABI. Despite measures aimed at curbing their activities, nearly half of Briton’s say they have been contacted by one of these companies within the last week. The findings of an ABI commissioned survey […]

Public fights back against insurance cheats

The UK public is being thanked by the Insurance Fraud Bureau (IFB) for fighting back against insurance cheats and reporting valuable information they have about insurance fraud to the IFB’s ‘Cheatline’. In 2014 over 500 reports were made to the Cheatline every month by members of the public, 6,347 reports in total for the year, and the IFB attributes the […]

Insurers warn of ‘ghost brokers’

Motorists should steer clear of cheap insurance deals sold in pubs, clubs, campuses and on dubious websites, according to the ABI. So-called ‘ghost brokers’ sell cheap, but counterfeit, motor insurance policies, leaving drivers at risk of having to pay out for themselves following accidents. The Association of British Insurers (ABI) said that unauthorised insurance advisers were even pushing for business in […]

Motorists cutting corners with insurance

Thousands of motorists are paying a high price, in some cases driving illegally, by cutting corners when buying motor insurance according to latest figures out today from the ABI (Association of British Insurers). ABI research shows that in 2014 insurers uncovered 212,000 attempted dishonest applications for motor insurance, up 18% on 2013 and equivalent to just over 4,000 every week. […]

PI claims pushing premiums higher

The average price paid by motorists for an annual comprehensive motor insurance policy rose by 2.1% in the second quarter of 2015 compared with the previous quarter, according to figures released today by the Association of British Insurers (ABI). The ABI’s Quarterly Average Private Comprehensive Motor Insurance Premium Tracker shows an average premium of £367 for the three months of […]

£1.32 billion saved in insurance fraud

Honest insurance customers were saved £1.32bn from frauds uncovered in 2014 according to figures released by the Association of British Insurers (ABI). The new figures also highlighted the fact that dishonest motor insurance claims are the most common type of insurance fraud. The £3.6 million a day saved by exposing insurance cheats is one of the factors helping to keep […]

Why age affects insurance premiums

The Association of British Insurers has published new data today which shows why age is an important factor in deciding premiums for motor insurance policies. The data shows the average premiums that customers of different age groups pay for their car insurance, compared to the cost of the average claim they make. Younger drivers between 18-20 years pay the highest […]

80 year old test needs updating

On the 80th anniversary of the driving test, the Association of British Insurers (ABI) is urging the Government to start the long overdue process of modernising the way young people learn to drive to bring the UK in line with other major nations like the USA, Australia and New Zealand. Since the driving test became compulsory on June 1st 1935 […]

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