One in five home insurance claims is rejected, although almost all motor claims are paid out, finds insurance industry body ABI January 26, 2016 One in five (21 per cent) of claims on home insurance during 2013 and 2014 was turned down, according to figures out today from the Association of British Insurers (ABI). The first set of insurance payout statistics ever published by the ABI also revealed that 99 per cent of motor insurance claims were accepted, as [...]
City Moves for 3 November 2016 | Who’s switching jobs November 3, 2016 Palatine Private Equity Palatine Private Equity has appointed Zoe Clements as a partner in the London team as the firm looks to back businesses that have a focus on environmental, social and governance (ESG) principles within their business models. Zoe joins from Electra Partners where she played a leading role in their investment in Photobox [...]
Travel troubles cost insurance industry £1m per day June 11, 2016 Those who are still shuddering at the cost of their most recent getaway should spare a thought for the insurance industry. Research out today has found that insurers shell out £1m every day on claims on travel policies. The study from the Association of British Insurers (ABI) discovered that travel insurers paid out £365m in claims last [...]
Brace yourself for Storm Angus: The Met Office has released this year’s list of storm names September 19, 2016 Brace yourselves, for Angus and Barbara may be about to rampage through the UK: yes, the Met Office has issued its list of storm names for the 2016/17 season. Goodbye, Nigel – hello Natalie. Also included on the list are Conor, Doris and Ewan, plus some with a more multicultural flavour, such as Kamil. Irish boy's name [...]
FCA’s Tracey McDermott announces UK Debt Market Forum at ABI Conference November 3, 2015 Tracey McDermott, acting chief executive of the Financial Conduct Authority (FCA), revealed today that the FCA would be creating and chairing a UK Debt Market Forum. Speaking at the Association of British Insurers (ABI) Biennial Conference, McDermott explained: “This group will bring together the collective wisdom of a broad range of parties including industry, government [...]
Wearables at work: How businesses can avoid Big Brother syndrome October 21, 2016 News that 22,000 Metropolitan Police officers will be equipped with body worn video cameras to cut down on complaints, must count as one of the biggest roll-outs of workplace wearables in the UK to date. The move brings to mind Gartner's prediction that over the next two years two million US employees in high risk [...]
UK floods insurance bill will be £1.3bn, estimates Association of British Insurers May 25, 2016 The final bill for all repairs arising out of the floods caused by storms in December 2015 is expected to hit £1.3bn, according to new research from the Association of British Insurers (ABI). A series of storms – named Desmond, Eva and Frank – hit the UK over the Christmas period, causing a series of [...]
Annuities may be regaining popularity, but here’s eight myths we’re still falling for June 22, 2016 Interest in annuities may be on the rebound, but research out today shows that some people might be starting out on their retirement product shopping trip with a few misapprehensions in mind. Common preconceptions unearthed by Retirement Advantage included "annuities are poor value", "I won't live long enough to worry about buying an annuity" and "I'd [...]
Craft brewers and English wine could be winners as drinks industry is shaken and stirred by the Brexit vote July 8, 2016 Craft beer brewers and English wine makers could be some of the drinks industry winners from the UK’s vote to leave the EU, according to research from Rabobank. The surprise Brexit vote will have "critical implications" for the wine industry, Rabobank said in a report released today. The UK is the world's largest importer of wine, [...]
Industry experts join forces in fight against confusing pensions jargon April 18, 2016 A group of pension experts has decided enough is enough for jargon and have today clubbed together to clean up the language of the industry. The Association of British Insurers (ABI) is heading up a Pensions Language Steering Group formed of bodies from government, industry, regulators and consumer groups. Names on the list include the Financial Conduct [...]