What Brexit means for your pension June 24, 2016 The UK went to the polls yesterday to make the historic decision to leave the EU, a result the markets had not exactly geared themselves up for. More than £100bn was wiped off the FTSE 100 this morning, while the pound dropped to its lowest point against the dollar in over 30 years, so many people [...]
Pensions dashboard takes a step closer to becoming a reality, with prototype in the pipeline May 26, 2016 The long-awaited pensions dashboard took a step closer to becoming a reality today, with a potential prototype revealed as being in the pipeline. In a white paper launched today, the Association of British Insurers (ABI) and the Money Advice Service (MAS) revealed that they would be taking the next step in developing the dashboard, which aims [...]
Byron Hamburgers boycotted following immigration scandal that’s spawned a trending Twitter hashtag July 28, 2016 Byron Hamburgers has been subjected to the wrath of Twitter since claims emerged the posh grub chain organised a training day for foreign staff who were then deported by UK border agents. The burger group inadvertently trended on Twitter yesterday with the hashtag #boycottbyron, following widespread reports that 35 staff from at least 15 restaurants were [...]
Pet insurance claims hit record numbers, according to figures from the Association of British Insurers, with just short of one million claims being made in 2015 March 29, 2016 Pet insurance claims hit a record high in 2015, according to figures released today by the Association of British Insurers (ABI). The number of insurance claims made reached 911,000, up nine per cent compared with 2014, while their value clocked in at £657m, which is the equivalent of £1.8m a day. The average pet insurance premium came in [...]
UK pensions: Nearly one year on from the introduction of the pension freedoms rules, annuities remain popular March 28, 2016 Nearly one year on from the introduction of rules designed to revamp the pensions system, annuity sales have bounced back, research out today has found. The study by the Association of British Insurers (ABI) discovered that 21,200 annuity plans, worth £1.1bn, were purchased during the fourth quarter of 2015, while 61,700 annuities, worth £3.3bn, have been bought [...]
Pension Isa could see savings slashed by a sixth, says Association of British Insurers, which favours the flat rate of tax relief instead February 15, 2016 Introducing a pension Isa could lower contributions by around a sixth, the Association of British Insurers (ABI) has warned today. Using research prepared by the National Institute of Economic and Social Research (NIESR), the ABI has calculated that a pension Isa system, where pensions contributions are taxed but withdrawals are exempt, would influence people to cut [...]
Telematics will make you safer and save you money – by disrupting the disrupters July 14, 2016 Telematics – the technology for collecting and analysing driver behaviour – has been transforming the face of car insurance for a long time. Now it is set to play a key role in how people engage with market disrupters such as Uber and Zipcar. These new entrants give people a great deal of flexibility in how [...]
Insurers including Direct Line, Aviva and Admiral band together to examine future of driverless cars January 18, 2016 Some of Britain's largest motor insurers, including Direct Line, Aviva and Admiral, have banded together to plan for a future when driverless cars are the norm. The Automated Driving Insurance Group, which will be led by trade body the Association of British Insurers (ABI), is assessing the insurance implications of the rise of driverless technology. The group [...]
UK pensions: Flat rate pensions tax relief would be “fairer” and encourage people to save more for their retirement, but pensions ISA would be a bad idea, says industry body January 24, 2016 A single rate of pensions tax relief would make the system simpler, fairer and more sustainable, according to a statement made by the Association of British Insurers (ABI) over the weekend. The ABI, which has been calling for reform to higher rate pension tax relief since 2013, has urged government to consider introducing what it [...]
UK Weather: Storms Desmond, Eva and Frank have already cost insurers £24m, with the total bill looking like it could be £1.3bn January 11, 2016 Insurers have already forked out nearly £24m in emergency payments to deal with the aftermath of storms Desmond, Eva and Frank. Statistics released today by the Association of British Insurers (ABI), which is a trade association for insurers and represents over 250 companies, revealed that these emergency payments comprised of £9m to domestic customers and £15m [...]