Search results

Your search for Annual General Insurance Overview Statistics 2014 resulted in 22 hits

• ABI comments on Government announcement of a review of flood insurance

  27/12/2019

  Responding to the Government announcement of a review of flood insurance Huw Evans, Director General, Association of British Insurers, said: "Insurers have responded promptly and effectively to…

• Storm Dennis clean up – what to do with damaged items and other advice from the ABI

  17/02/2020

  In the aftermath of Storm Dennis, the ABI (Association of British Insurers) is reassuring homeowners and businesses that have suffered flood and storm damage that insurers will be doing all they can…

• Flood advice from the Association of British Insurers

  12/11/2019

  The Association of British Insurers (ABI) is reassuring homeowners and businesses affected by the recent flooding that insurers are doing everything possible to help them recover. This includes…

• 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.

• Accessing flood insurance

  How to access insurance if you live in a flood-prone area

• Flooding

  Protect the value of your home, possessions, vehicle or business against flood

• 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.

• Severe flooding along the River Severn – insurance advice from the ABI

  25/02/2020

  The ABI (Association of British Insurers) is reassuring homeowners and businesses who suffer damage from flooding along the River Severn that insurers will be doing everything possible to help them…

• Assessing your flood risk

  Accurately assessing your flood risk can help you access insurance

• Storm Ciara – insurance advice from the ABI

  09/02/2020

  The ABI (Association of British Insurers) is reassuring homeowners and businesses that suffer damage from Storm Ciara that insurers will be doing everything they can to help them recover as quickly…