All ABI articles – Page 9
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News AnalysisPeers debate whether whiplash injury tariff rates are ‘fundamentally flawed’ or ‘the right level’
Last week’s House of Lords debate revealed mixed perspectives from peers, however some are concerned that extra minor injuries added to whiplash claims may ‘dilute’ the effects of the planned reforms
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NewsMotor insurance premiums record biggest quarterly fall in 2021’s Q1 - ABI
The average price paid for motor insurance is at its lowest in nearly five years
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NewsGovernment set to define ALKS as self-driving despite insurance industry warnings
Insurers and industry bodies urge caution as the government accelerates its plans for the implementation of automated lane keeping technology
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NewsABI reveals launch of inaugural flexible working campaign
Exactly 27 firms have signed up to the new charter, designed to ‘tackle’ gender inequality as well as retain and attract new talent
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NewsABI relays guidance replacing insurers’ lockdown support pledges
The pledges will be replaced with guidance across home, motor and pet insurance policies
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NewsABI reveals ‘biggest ever’ drive to boost customer mental health standards
The trade association aims to help all vulnerable customers navigate insurance products
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FeaturesBoosting business through benchmarking insights
Identifying areas for improvement in claims has become a differentiator thanks to Covid-19 and the whiplash reforms
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NewsPRA chief executive says regulator not interested in adding to its responsibilities
Sam Woods denies ‘the caricature of a rampant regulator intent on crushing the industry under a slow motion avalanche of new capital requirements’, but acknowledges that ‘a changing world requires a tough but flexible regulatory regime’
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FeaturesBriefing: FCA could be setting sector up to fail with four-month pricing implementation period
The FCA took its time crafting the foundations of its general insurance pricing review, however it expects insurance businesses to turn around rule changes on the double – surely it’s in nobody’s interest to rush such a pivotal market change?
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FeaturesBrexit unlocks opportunities for solvency II reform
Industry commentators believe there is ‘room for improvement’ around the solvency II regulations as Brexit heralds an opportunity to shape the rules to better suit UK businesses
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NewsMotor insurance payouts fell by 6% in 2020 due to lockdown impact
But personal injury claim payouts rose to an average of £12,000 last year
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FeaturesOpinion: Test case opens industry’s eyes to depth of expectation gap
Editor Katie Scott believes the momentum around getting to grips with the expectation gap has escalated following the FCA’s test case result - insurance leaders are now preparing to tackle this head on for 2021
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News‘There’s no point looking backwards’ at industry’s BI woes says economic secretary
The economic secretary to the Treasury told online delegates that the insurance industry ‘will play a very significant role’ as the UK emerges from the coronavirus lockdown, but that it has to look to the future rather than mull on past grievances
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NewsInsurers have to grasp opportunity to lead climate change fight
Tackling climate change gives the insurance sector a ‘chance to show leadership’ and ‘be a driving force in this vital and important issue’ says expert panel
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FeaturesBriefing: Will cyber insurance be the casualty of the next ‘black swan’ event?
The issues surrounding business interruption cover linked to pandemic-caused claims hit insurers and hit them hard. It’s only natural, therefore, to want to look ahead to other products that may follow the same trajectory if another black swan event arises - and cyber insurance has “certain parallels” according to the ...
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News‘Doing nothing is not an option’ following BI test case says ABI’s Huw Evans
The director general admitted that communications to company owners regarding their business interruption coverage was ‘too harsh and too insensitive’ early on in the Covid-19 pandemic, and that cyber insurance is the next coverage insurers and brokers need to keep an eye on
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NewsInsurers told they ‘play a crucial role in society’ regarding diversity
Expert June Sarpong says ‘the benefits are clear’ for insurance firms that seek to improve diversity
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FeaturesBriefing: FCA prepares to bare teeth over the treatment of vulnerable customers
New guidance from the regulator points to greater monitoring and oversight of firms’ treatment of vulnerable customers as part of its supervisory approach – will this change be welcomed, or viewed as another regulatory burden?
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NewsFour-month implementation period for FCA’s price walking remedies is a ‘joke’ – ABI
Despite potential implementation challenges, the trade association’s director general is ‘very hopeful’ that the proposed ‘road map’ with the FCA will solve the loyalty penalty ‘once and for all’
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NewsABI members predicted to pay £2.5bn for Covid-19 claims incurred in 2020
The ABI’s director general believes the industry needs ‘to learn lessons from this unprecedented event’
