Biba 2014: Industry called on to help non-standard customers get access to insurance

The insurance industry needs to work with consumer bodies and the government to help all customers get access to insurance, Biba said today at its annual conference.

Chief executive Steve White called for “total signposting” on all non-standard risks, similar to the scheme that allows older holiday makers and motorists to be signposted to other insurance solutions.

He also urged the industry to work together as part of the Insurance Growth Action Plan.

“Let’s not simply turn away consumers if we cannot insure them – let’s point them in the direction of someone who can help,” he added.

White said that for a variety of reasons many customers who struggle to find appropriate insurance are often left without cover.

Biba executive director Graeme Trudgill added: “A system is needed to help all consumers more easily access insurance protection.

“But we want to go further. Insurance brokers can provide most types of insurance, so we need to ensure that everyone can access the insurance protection that they need.”

The Money Advice Service (MAS) welcomed Biba’s call for signposting.

Chief executive Caroline Rookes said: “It is important that people are able to make arrangements to protect their lives and their assets.”

In 2012, Biba and the government signed up to the signposting agreement, which meant that older people who would have previously struggled to find suitable insurance could now access the service.

More than 100,000 older policyholders have been able to find suitable insurance since then using Biba’s ‘find a broker’ service.

The scheme receives around 400,000 enquiries each year from customers who have struggled to find insurance elsewhere.

The top five enquiries include; travel insurance for people with medical conditions; buildings and contents, including flood zone and subsidence; imported vehicles; travel insurance for older holiday makers; and young drivers.