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Voluntary agreement on age and insurance continues ensuring older people can access insurance

The Association of British Insurers (ABI), the British Insurance Brokers’ Association (BIBA) and the Government have agreed to continue an agreement that came into force in 2012 to improve transparency and access to insurance for older customers.

Under the agreement, if an insurer or insurance broker is unable to offer cover to an older motorist or traveller because their age is above any upper age limits they have, then they will automatically refer the customer to an alternative provider who can meet their needs or to a dedicated signposting service such as the ‘Find-A-Broker’ service which can be reached by telephone on 0370 950 1790 or via BIBA’s website www.biba.org.uk.

Caroline Dinenage, Parliamentary Under Secretary of State for Women, Equalities and Family Justice said:

"I am pleased to see there is greater opportunity for older people to access insurance services. These services are necessary to give people the security, protection and peace of mind they need when they drive or travel."

James Dalton, ABI Director of General Insurance Policy, concluded:

"The insurance industry is determined to ensure older people can find insurance that meets their needs, and can access the competitive motor and travel insurance markets. Working with Government to renew the agreement demonstrates insurers’ commitment to improving transparency and access to insurance, whilst retaining their ability to assess and price risk."

Graeme Trudgill, Executive Director at BIBA continued:

"Sometimes some older people find looking for appropriate travel or motor insurance challenging. During the last three years, since the commencement of this agreement, around 200,000 older motorists and holiday makers have been signposted to the Find-A-Broker service to help them access the insurance they need, giving them the peace of mind to carry on driving or travelling. Continuing this agreement is great news for older customers."

Last updated 01/07/2016