ABI warns on Barclays pay April 10, 2012 THE ASSOCIATION of British Insurers has voiced concerns about executive pay at Barclays, raising the pressure on the bank over chief executive Bob Diamond’s recent £17m pay award. The ABI, whose members own 20 per cent of the FTSE All-Share index, has issued an “amber top” warning over the pay, one step down from its [...]
UK’s insurance claims costing £200m per day September 27, 2012 BRITISH insurers paid out almost £200m a day in claims during 2011, according to industry figures released yesterday. The Association of British Insurers (ABI), whose members represent 90 per cent of the UK industry, revealed the sum in its annual review of the sector. The motor insurance industry made an underwriting loss for the seventeenth [...]
Insurance fraud hits £1bn a year September 12, 2012 INSURANCE fraudsters filed £19m of bogus insurance claims every week on average last year, an annual increase of seven per cent, a new report out today shows. The study by the Association of British Insurers (ABI) shows insurers uncovered 139,000 bogus claims worth a total of £983m last year, the equivalent of 15 false claims [...]
Bank’s Paul Tucker stumbles upon a Barclays bonus truce October 31, 2012 IT has become the City’s most wearyingly familiar formula: bank floats pay proposals with investors; investors cry foul; bank showers its largesse on employees regardless; bank suffers revolt at annual meeting. Repeat, year after year. The 2013 bonus round should, at last, provide an antidote to the toxic relationship between Britain’s biggest lenders and the [...]
Pension groups want to open up on charges August 23, 2012 CLEAR details on fees and charges on pensions, as well as regular, standard updates on costs are vital if public trust is to be rebuilt in the industry, the Association of British Insurers (ABI) said yesterday, calling for a sector-wide agreement on transparency. Millions of new savers are set to build up pension pots for [...]
SuperGroup is latest Brit firm facing rebellion September 16, 2012 SUPERGROUP directors face the possibility of a shareholder rebellion at this week’s annual meeting after advisory bodies criticised the fashion retailer’s plans for executive pay. Both PIRC and the Association of British Insurers (ABI) last week raised objections to SuperGroup’s remuneration report, which if passed will see new chief operating officer Susanne Given receive shares [...]
SuperGroup is latest Brit firm facing rebellion September 16, 2012 SUPERGROUP directors face the possibility of a shareholder rebellion at this week’s annual meeting after advisory bodies criticised the fashion retailer’s plans for executive pay. Both PIRC and the Association of British Insurers (ABI) last week raised objections to SuperGroup’s remuneration report, which if passed will see new chief operating officer Susanne Given receive shares [...]
ABI warns 200,000 could miss out on flood insurance March 7, 2012 THE ASSOCIATION of British Insurers (ABI) says the government must come to a new agreement soon if it wants to secure a sustainable flood insurance market in the UK. It claims that up to 200,000 property owners will struggle to get affordable insurance when the current agreement ends in June 2013. At the moment insurers [...]
No need to break the bank on winter travel insurance November 22, 2012 RECENT disasters – from airline collapses to volcanic ash and Hurricane Sandy – have led to disrupted travel plans, increased pressure on travel insurance companies, and vulnerable travellers facing financial loss after independently booking their holidays. You may choose to spend your winter holiday on a beach rather than white water rafting down the Colorado [...]
Insurance firms face £500m bill after the wettest June on record July 18, 2012 INSURERS face a £500m bill to cover flood and storm damage in June, according to figures released yesterday. The Association of British Insurers (ABI) says its members expect to pay out the equivalent of £17m a day after the month beat rainfall records, flooding buildings and damaging vehicles. “During June alone insurers helped 68,000 customers hit [...]