(273 words)

The ABI (Association of British Insurers) supports today’s call by the FSA for insurance promotions on price savings to be clear, fair and not misleading.

Nick Starling, the ABI’s Director of General Insurance and Health, said:

“We want customers to get the best possible deal from general insurance products. The market is competitive and that leads to a wide range of genuine price-cutting

However, we take the FSA’s concerns seriously. Offers must be accurate and deliver what the customer is led to expect. The ABI and our members will work closely with the FSA to achieve this.”

- ENDS -

Notes

1.            Enquiries to:       

         Alan Leaman    020 7216 7440 (Mobile: 07957 482 330)

         Malcolm Tarling    020 7216 7410 (Mobile: 07776 147 667)

         Jonathan French   020 7216 7392 (Mobile: 07958 330 480)

         Lucy Butler        020 7216 7411 (Mobile: 07712 841 184)

         Kelly Ostler        020 7216 7415 (Mobile: 07968 364 302)      

2.            The ABI is the trade association for Britain’s insurance industry. Its nearly 400 member companies provide over 94% of the insurance business in the UK. It represents insurance companies to the Government, and to the regulatory and other agencies, and is an influential voice on public policy and financial services issues. ABI member companies hold up to a sixth of all investments traded on the London Stock Exchange, on behalf of millions of pensioners and savers.

3.            An ISDN line is available for broadcasts.