The Association of British Insurers (ABI) has announced its new Chair of the ABI’s Protection Board, Fran Bruce, managing director for protection at Aviva UK, replacing Aviva’s Paul Brencher. The ABI’s Protection Board sets the strategic direction of the ABI’s work on protection policy and proactively identifies areas to drive better standards across the industry that improve customer experience, access and understanding of insurance.

The Association of British Insurers (ABI) has established a Pension Insurance and Investment Board to strengthen its policy focus on pension insurance, annuities and investment. The Board will oversee policy relating to defined benefit pensions, annuity investment and the bulk purchase annuity market. It will also assume oversight of the Investment Delivery Forum, set up to drive and monitor the £100bn investment commitment made during Solvency II framework reform discussions. The new Board will be chaired by the Chief Executive Officer of Just Group, David Richardson, who will also join the ABI Board. The changes form part of broader governance changes that give product boards greater responsibility for setting policy within their respective markets.

The Association of British Insurers (ABI) has appealed against the Court of Appeal’s decision to increase general damages.

The Association of British Insurers (ABI) has reported that record numbers of people took out income protection insurance in 2023 to safeguard their finances against the risk of a serious accident or illness stopping them working. Individual sales of income protection insurance increased by 16% compared to 2022, with standalone critical illness sales almost four times higher than ten years ago.

Law360: The Association of British Insurers (ABI) has found that pension firms that signed up to an agreement to allocate a minimum of 5% of defined contribution (DC) funds to unlisted equities by 2030 have laid 'strong foundations' in line with the target.

The Association of British Insurers (ABI) has produced an artificial intelligence (AI) guide which sets out how those working in the insurance and long-term savings industry can put into practice the UK government’s five principles of AI: Accountability, Transparency, Fairness, Safety, Contestability & Redress, which will later be launched at the ABI’s annual conference.

The Association of British Insurers (ABI) has produced a guide which offers information and guidance to insurance and pensions providers who are considering participating in the Dormant Assets Scheme. It covers the steps participants need to take to reunite assets with their owners, what products/asset types are in scope, what preparation is required for a Dormant Asset Scheme project and the contractual terms required to join the scheme.

The Association of British Insurers (ABI) has published a best practice guide to green supply chains. The guide, ‘Engaging with supply-chains for Insurance and Long-Term Savings Provider’, has been published as part of ABI’s wider commitments set out in the ABI Climate Change Roadmap and in concurrence with the ABI Climate Change Conference. The guide sets out proactive steps around supply chain considerations to help members to take account of emissions reduction strategies and targets of suppliers, make sustainability a factor in decision making on suppliers, and track emissions.

The Association of British Insurers (ABI), in collaboration with autism support organisations, has published a good practice guide for the insurance and long-term savings industry on supporting autistic customers. The guide explains the unique experiences of autistic people, highlights the challenges they might encounter when interacting with the industry and sets out practical actions and recommendations.

The Association of British Insurers (ABI) has reported that there were 84,400 fraudulent claims in 2023 which topped the previous year by 11,800 with claims of ‘exaggerated loss’ surfacing as the most prevalent type, valued at £407m, whereas motor insurance claims were worth £501m, an increase from 2022.

The Association of British Insurers (ABI) has announced the release of the premium finance principles, which represent what is possible within the limits allowed by competition laws and provide a basis for firms to take meaningful action. This is part of the ABI’s commitment to combat the rise in the cost of motor insurance and focus on the role of premium finance.

The Association of British Insurers (ABI) has reported that home insurance premiums increased by 3% (to £375) in the first quarter of 2024 following a severe winter for weather damage but remain below historic peaks (which was £419). The ABI highlights that most of the damage was caused by flooding and has called on the government to ensure that flood defence and maintenance receives at least £1bn a year to keep pace with climate change.