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More customers consider insurance fraud
- 07/07/2023
- Posted by: Alan Feldberg
- Category: News
New YouGov findings published by the Insurance Fraud Bureau (IFB) suggest a growing number of young adults could turn to insurance fraud as the cost-of-living crisis deepens. As many as one in four young adults now say they would ‘likely’ consider an act of insurance fraud if they were struggling financially. [...] -
ACSO questions mixed injury appeal
- 16/06/2023
- Posted by: Alan Feldberg
- Category: News
The Association of Consumer Support Organisations has questioned the decision to allow the Association of British Insurers to appeal a landmark decision about compensation in mixed injury payouts. The decision found that motor claimants should be compensated separately for whiplash and different injuries claimed [...] -
ABI data reveals surge in motor claims
- 08/06/2023
- Posted by: Alan Feldberg
- Category: News
Data from the Association of British Insurers have revealed that payouts for motor claims have risen by 14% in the last year to £2.4bn. This is 11% up on the final quarter of 2022 and the highest amount recorded by the ABI since it started keeping records in 2013. Insurers settled 599,000 claims in the first [...] -
Motor insurance up 16%
- 12/05/2023
- Posted by: Alan Feldberg
- Category: News
The ABI’s latest Motor Insurance Premium Tracker has revealed that the overall average premium paid for private comprehensive motor insurance was £478, up two per cent on the previous quarter and 16% higher than the same period in 2022. The average price paid by motorists renewing their cover rose by £8 to [...] -
Copart calls for industry collaboration
- 24/02/2023
- 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 [...] -
Price hikes continue for motor insurance
- 15/02/2023
- 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 [...] -
Insurance payouts slow to snails pace
- 30/01/2023
- 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 [...] -
Insurers contribute £17.2bn in taxes to UK economy
- 15/12/2022
- Posted by: Alan Feldberg
- Category: News
The insurance and long-term savings industry has contributed a record £17.2bn 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 6.9% more in tax in 2021-22 than in 2019-20, marking [...] -
ABI calls for IPT freeze
- 15/11/2022
- 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, [...] -
Lemonade joins ABI
- 01/11/2022
- 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 [...]