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Case study 26: ABI and BIBA code of good practice regarding support for potentially vulnerable motor and household customers at renewal

In 2016, The Association of British Insurers (ABI) and the British Insurance Brokers’ Association (BIBA) launched a joint Code of Good Practice to help insurers and insurance brokers recognise and help potentially vulnerable customers, who may need extra support when renewing motor and home insurance policies. The Code is part of the industry’s ongoing work to improve consumer outcomes and to help all customers make the most of competitive motor and home insurance markets at renewal. Under the Code participating insurers and brokers will:

Ensure staff are adequately trained to recognise and understand potentially vulnerable customers at renewal and be able to offer flexible options to help address needs (where necessary).

Periodically review legacy policies to, where possible, identify vulnerable customers to ensure they are aware of any more suitable alternative products now available.

Ask potentially vulnerable customers at renewal if their current policy and renewal terms meet their needs, and make clear the importance of reviewing their cover.

Consider if additional communication, for example a telephone call, is needed to help vulnerable customers through the renewal process.

Ensure that the customer’s options, and how they can exercise them, are always clearly set out.