• Copart calls for industry collaboration

    • 24 February 2023
    • Posted by: Alan Feldberg
    • Category: News
    Copart UK emphasised its commitment to future skills and partnerships within motor insurance by taking part in an exclusive programme ‘Securing Futures’, produced by ITN Business for the ABI Annual Conference The programme looked at the important work taking place across the insurance sector and showed how [...]
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  • Price hikes continue for motor insurance

    • 15 February 2023
    • Posted by: Alan Feldberg
    • Category: News
    Average motor insurance premiums rose by eight per cent in the fourth quarter of last year, driven by rising costs in energy and materials as well as continued part delays According to the Association of British Insurers' latest Motor Insurance Premium Tracker, average premiums increased to £470, which is seven [...]
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  • Insurance payouts slow to snails pace

    • 30 January 2023
    • Posted by: Alan Feldberg
    • Category: News
    Analysis by Claims Management & Adjusting (CMA) has found that car theft victims are frequently waiting more than seven days longer for insurance payouts due to the new National Police Chiefs’ Council (NPCC) and Association of British Insurers (ABI) data sharing agreement The Kent-based vehicle claims [...]
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  • Insurers contribute £17.2bn in taxes to UK economy

    • 15 December 2022
    • Posted by: Alan Feldberg
    • Category: News
    The insurance and long-term savings industry has contributed a record £172bn to the UK economy in tax in 2021-22, according to the Association of British Insurers’ (ABI) latest Total Tax Contribution Survey The annual survey found that the sector contributed 69% more in tax in 2021-22 than in 2019-20, marking [...]
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  • ABI calls for IPT freeze

    • 15 November 2022
    • Posted by: Alan Feldberg
    • Category: News
    The Association of British Insurers (ABI) is urging the Chancellor to freeze the rate of Insurance Premium Tax (IPT) in the Autumn Statement, which will be delivered on 17 November It says a hike in IPT could lead to people cutting back on insurance cover This comes after research from Public First, commissioned [...]
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  • Lemonade joins ABI

    • 1 November 2022
    • Posted by: Alan Feldberg
    • Category: News
    Insurtech Lemonade has joined the ABI after launching in the UK It joins around 200 insurance and long-term savings companies who are represented by the ABI, working together to share best practice, contribute to policy discussions and support a thriving insurance industry in the UK and internationally Hannah [...]
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  • ABI announces new board appointment

    • 21 September 2022
    • Posted by: Alan Feldberg
    • Category: News
    The Association of British Insurers has announced that Jason Richards, Swiss Re CEO UK&I, is joining the board The ABI board is formed of senior leaders from across the insurance and long-term savings industry including the ABI’s president, Barry O’Dwyer He said: “We warmly welcome Jason to the ABI [...]
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  • Fraud figures down

    • 30 August 2022
    • Posted by: Alan Feldberg
    • Category: News
    A crackdown on fraud is paying off with the Association of British Insurers reporting that both the number and cost of dishonest claims has reduced in the last year However, the average detected fraud still stood at a record £12,282 According to ABI figures, fraud claims fell by five per cent to 89,000 in 2021, [...]
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  • Motor premiums creeping up

    • 8 August 2022
    • Posted by: Alan Feldberg
    • Category: News
    The average price of motor insurance rose in the second quarter, according to data published by the ABI Its Motor Insurance Premium Tracker found that the average policy has increased to £419 This represents a marginal increase of £5 on the previous quarter, but remains £11 lower than the same time in [...]
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  • Average premiums lowest for seven years

    • 9 May 2022
    • Posted by: Alan Feldberg
    • Category: News
    The average price paid for motor insurance in the first quarter of 2022 fell by five per cent to its lowest level in nearly seven years According to the Association of British Insurers Premium Tracker, the average price paid for comprehensive motor insurance was £416, the lowest average premium since the third [...]
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