Frequently Asked Questions

About the ABI

 

Q Is the ABI an insurance company?

 

A No, the ABI is not an insurance company. It is a lobbying organisation for the insurance industry.  
 

Q. Can the ABI find me an insurer who offers a particular type of insurance?

 

A. No, that is the job of an insurance broker. To find details of an insurance broker in your area try The British Insurance Brokers Association  

 

 

Q Does the ABI help with customer complaints and if so, can it punish insurers who have treated their customers unfairly? 

 

A No it does not. The Financial Services Authority are the people who regulate the actions of insurance companies, not the ABI. The Financial Services Authority can be contacted on 0845 606 1234.
If you have a complaint, you should first write to the company concerned.  If you are not satisfied with the company’s response, you may take your case to the independent complaints body for insurance, the Financial Ombudsman Service (FOS).  The FOS can be contacted on 0845 080 1800 

 

Q If the ABI doesn’t regulate anyone why does ABI issue Codes of Practice and Guidance Notes?

 

A The FSA regulates the insurance industry and has detailed rules but the ABI has published a number of Codes and Guidance over the years and these (some now of historical interest only) can be found here 

 

Q Where can I find Appendix D - a request to the insured for consent to the disclosure of information held by the police.

 

A It can be found as part of the ACPO/ABI Guidelines on the Exchange of Information Between Police, Insurers and Loss Adjuster 

 
Becoming an Approved Supplier
 

Q I want to contact all the ABI members as I have developed a new product and/or I want to become an approved supplier - can the ABI help?

 

A The ABI is not able to recommend or endorse individual services to our members. Nor do we do circulate newsletters or details of new products or services to member companies. However, you may wish to contact member companies directly for their views on your service and for them to consider you as an approved supplier. 
 

 

Buying insurance/tracing old life policy

 

Q I need to buy a particular type of insurance to cover.

 

A If you are looking for insurance cover, or are having difficulty obtaining cover, you should contact an insurance broker, who will help you find the cover appropriate to your needs.  Contact details of your local broker, or one who specialises in the type of cover you are seeking, can be obtained from the website of the British Insurance Brokers’ Association at or by telephone on 0870 950 1790.

 

Q I am trying to trace an insurance company that may have changed its name, or owner or a life insurance policy, but do not know the name of the company?

 

A If you are trying to trace an insurance company that may have changed its name or owner you should contact the Financial Services Authority on 0845 606 1234. If you are trying to trace a life insurance policy, but do not know the name of the company, you should contact the Unclaimed Assets Register on 0870 241 1713   

 

Corporate Governance Guideline

 

Q Where can I find ABI’s UK Corporate Governance Guidelines?

A They can be found on the ABI’s Institutional Voting Information Service website

 

Credit Hire

 

Q I want to join the arrangement in place between insurers and credit hire companies for the provision of replacement vehicles to innocent third parties, the Credit Hire Protocol (or General Terms of Agreement)?

 

A All the documentation you require to join the scheme (for which there is no charge) can be found along with subscribing credit hire and insurance companies details and settlement rates at http://apps.abi.org.uk/tphire/

Employers' Liability Insurance

 

Q I am trying to track down an Employers’ Liability insurer who covered my former employer. My employers have now closed down and I want to make a claim

 

A The ABI has an Employer’s Liability Tracing Code which helps claimants and defendants to find otherwise untraceable EL insurance policies, by circulating enquiries to insurers. It is a free of charge, fully automated online system, which processes your EL insurance enquiry and emails you the results.
 

Q Does my business have to hold Employers’ Liability insurance?

 

A The Health and Safety Executive has issued a useful guide for employers to Employer's Liability Insurance which may help at  It also includes contact details for further information.

 

Endowment Policies

Q I am worried my endowment policy will not be worth enough to repay my mortgage when it matures. Does ABI have a code of practice on endowment policies?

 

 

A. Members of the Association have undertaken, as a condition of membership, to implement a code of practice concerning reviews of mortgage endowment life policies and to follow the guidance to the code. 
 

Flooding

Q Is insurance against flood damage still widely available?

 

A Yes, the ABI and the Government have reached an agreement (details in document on right side of this page) that ensures flood insurance remains widely available now and in the long term.

 

The insurance industry has committed to:

 

Make flood insurance for homes and small businesses available under household and commercial insurance, where the flood risk is no worse than a 1 in 75 [1.3%] annual risk.

 

Offer flood cover to existing domestic and small business customers at significant flood risk, providing there are plans to reduce the risk to an acceptable level within five years.

 

Health Insurance

 

Q Why do my insurance company want medical information about me, from my doctor. What will they do with the information?

 

A Joint guidance has been drawn up by the British Medical Association (BMA) and the ABI to set out best practice and practical advice on the use of medical information in insurance. It can be found at

 

 

Q There was something in the press recently about ABI making it easier to claim on critical illness policies, income protection policies and life insurance. What’s that all about?

 

A Insurance companies have announced that they will pay more claims for Critical Illness, Income Protection and life insurance where medical information has not been disclosed, unless the customer deliberately withheld it. This important new commitment will lead to a further fall in the number of declined claims (details in document on right side of this page). 
 

 

Q I am thinking of taking a genetic test will it affect my insurances?

 

A Please see ABI’s booklet ‘Genetic tests and insurance'

 

Q I am thinking of taking out a private medical insurance policy. What should I be looking for?

 

A ABI’s leaflet ‘Are you buying private medical insurance? should be sent to you when you enquire about cover.

Take a look at this guide before you decide’ along with ABI’s ‘Statement of Best Practice for the Selling of Private Medical Insurance with revised common definitions and added explanation of cancer cover’

 

Q I’m worried about HIV, HIV testing and its effect on my chances of getting Insurance?

 

A ABI’s Statement of Best Practice for HIV and Insurance (details in document on right side of this page)is intended to help insurers selling long-term insurance products to adopt best practice. It sets out requirements on, and guidance for, insurance industry professionals, for use when dealing with applications for insurance where HIV may be an issue. 
 

We have also produced ‘HIV and Life Insurance, a consumer guide for gay men’

 

 

 

 

 

 

 

Q I need an unbiased guide to critical illness insurance

A ABI’s Statement of Best Practice for Critical Illness Cover aims to help protect consumers and help them understand and compare critical illness policies through having a common format for the way Critical Illness Cover is described to potential buyers at the point of purchase; the use of common Generic Terms and the use of Model Wordings for Critical Illnesses and Exclusions which meet appropriate minimum standards.

House insurance

 

 

Q How do I calculate the cost of rebuilding my home for insurance purposes? Can ABI calculate this figure for me?

 

A ABI has a calculator on our website that enables you to work this out. Please note that this does not cover flats and certain types of houses, where you would need to contact a local surveyor. We are also unable to do the calculation for you.

 

Q I think I may have subsidence at my home. What do I do and will it mean I won’t get cover in future?

 

A Please see ABI’s information on ‘Subsidence - dealing with the problem’  (details in document on right side of this page)

 It also includes information on the ABI’s Domestic Subsidence Claim Handling Agreement which applies when you may have recently changed insurers.

 

 

 

 

Q Is laminate flooring covered by a buildings or contents policy?

 

A There is no ABI agreement on laminate flooring and whether it would be covered under a buildings or contents insurance policy. However, in July 2003, the Property Claims Forum (an insurance industry group but not part of the ABI) met at the ABI. In discussion, the consensus was that laminate flooring should be covered under a Buildings Insurance policy but that this was very much a matter for individual insurers to decide.

 

Insurance Company financial difficulties

 

Q What happens if my insurance company becomes insolvent?

 

A The Financial Services Compensation Scheme (FSCS) pays compensation to the customers of failed UK financial services companies. It is funded through levies on the financial services industry. Detailed information on the FSCS can be found on its website

 

 

 

 

Investment Fund Classifications

Q Where can I find details of ABI’s investment fund classifications?

 

A The ABI investment fund sectors facilitate comparisons between similar life and pensions funds.

Please note that it is currently under review.

 

Insurance Fraud

 

Q I wish to report insurance fraud who do I contact?

 

A Please contact the Insurance Fraud Bureau on 0800 328 2550

 

Motor Insurance

 

Q Where can I find unbiased advice on Motor Insurance?

 

A The ABI has a comprehensive factsheet on all aspects of motor insurance 

 

Small Business Insurance

 

  

Q I am thinking of setting up a small business what insurance do I need?

 

 A Please see the ABI's Insurance Advice for Businesses 

 

Trade Credit Insurance

Q It says in the press that trade credit insurance is almost impossible to get. Is this true and what’s being done about it?

  

A The ABI has clarified the situation by issuing a Statement of Principles for Trade Credit Insurance.