Blogs
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Retirement income in the multiverse of projections
16/06/2022
The idea of parallel universes has been a popular subject in the sci-fi genre for decades. Little does the public know that their retirement income projections are already living in one. The recent FRC consultation on a proposed revision of their projection basis known as AS TM1 highlighted the inconsistency in pension projections across different providers and communications channels. That means the retirement income forecast you receive, even from the same provider, could be based on different assumptions and are not directly comparable. What can be done to bring the fragmented projection universe back into one, so consumers can have a single, simple, reliable estimated retirement income when planning their retirement?
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We’re boosting take-up of Pension Credit – here’s how you can help too
15/06/2022
The Minister for Pensions Guy Opperman has written on how to boost pensions credit as part of the Department for Work and Pensions Pensions Credit Day of Action and the wider campaign to expand people’s engagement with their long-term savings.
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Climate change demands that insurance changes
08/06/2022
To mark the 2022 Climate Change summit and the publication of an updated ABI Climate Change Roadmap, Director General, Hannah Gurga and Andy Briggs, Group CEO of Phoenix and Chair, ABI Board…
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The Times They Are a-Changin' - How insurers are changing their approach to systemic risks
26/05/2022
Systemic risks are risks that are so large they threaten the whole financial system and economy, with the Covid-19 pandemic being the most recent example. The ABI’s upcoming webinar ‘How insurers' approach to systemic risk is changing and what this means for the general insurance market’ will seek to explore differing approaches to systemic risk, whether any learnings from the last two years can be applied to them and how changes to approaches are already having an impact on insurers.
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What do the Bank of England’s CBES results mean for insurers?
25/05/2022
Following the Bank of England’s publication of the results of its flagship Climate BES exercise, the ABI reflects on what these results mean for the insurance and long-term savings industry in the fight against climate change.
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Whiplash Reforms: One year on, success or failure?
23/05/2022
Ahead of the ABI’s event on Tuesday 24 May – ‘Whiplash Reforms: One year on, success or failure?’ and the first anniversary of the much-anticipated reforms, James Dalton, the ABI’s Director of General Insurance Policy, takes stock and assesses some of the impacts arising from the changes.
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On your doorstep? Modern slavery, human trafficking and the insurance industry
18/05/2022
Slavery is not just an historic issue; it’s a thriving illegal industry, the third most profitable crime globally and props up a variety of other financial crimes. Awareness of how the insurance industry can be exposed to the practice is vital if we are to crack down on this damaging and destructive criminal activity.
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Building greater resilience through workplace group risk benefits
11/05/2022
Following the publication of its annual Group Watch report, Swiss Re’s Ron Wheatcroft looks at the policy issues facing the group risk market.
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What does the insurance industry make of Levelling Up
09/05/2022
With the Government expected to introduce legislation to implement their Levelling Up White Paper, the ABI looks at how the Bill can help reform our planning system, increase our resilience to climate change and flooding as well as boost investment and improve individuals’ financial resilience, health and wellbeing.
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Seizing the opportunity for Financial Services Regulatory Reform
09/05/2022
With the Government expected to introduce comprehensive reforms to the regulation of financial services in a new Financial Services Bill, the industry sets out our views on a competitiveness objective for the regulators and ensuring that Government set clear direction for the regulators in legislation.
