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Your search for Annual General Insurance Overview Statistics 2014 resulted in 10 hits

• James Dalton speech at the Birmingham Insurance Institute 2016 Conference

  08/06/2016

  Building the reputation of the general insurance market

• Joining the ABI

  How to join the ABI

• FAQ

  What type of compensation is impacted by the Discount Rate?

  Insurance policies that pay personal injury claims, e.g. motor insurance, public liability insurance, employers liability insurance, and where damage levels are set by the Courts are all potentially affected by the Discount Rate. Other compensators such as the NHS may also face higher costs.

• FAQ

  What does this mean for insurance premiums?

  The change in the Discount Rate will lead to higher costs for insurers. This is because the Government had previously indicated that the rate would be set between 0 and 1% and most insurers were basing their claims costs on this, and not on the previous rate of minus 0.75%, in order to keep costs and premiums as low as possible. As the new rate is below this range, insurers will have to increase the money they set aside to pay future claims which will inevitably increase the pressure on premiums. This is especially true for younger drivers who are statistically more likely to be involved in the types of accident that lead to these claims.

  While motor insurance remains a very competitive market, in which individual insurers will make their own commercial decisions about premiums, PWC has estimated the Discount Rate change could lead to the average motor insurance premium increasing by between £15 and £25, going up by as much as £50 to £75 for younger drivers.

• James Dalton speech at A Future With Autonomous Driving Cars seminar

  03/05/2016

  The Insurance Perspective

• Flood Re explained

  Flood Re is a reinsurance company, which means it enables insurance companies to insure themselves against losses because of flooding.

• Climate Change

  Climate change refers to the gradual long term change in the Earth’s average temperature and weather conditions.

• Flood Re

  Flood Re is a new way to help people who live in flood risk areas get affordable home insurance.

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• About us

  The Association of British Insurers is the voice of the UK’s world-leading insurance and long-term savings industry. A productive and inclusive sector, our industry supports towns and cities…