Association of British Insurers Archives

Women hold only one in five top insurance industry jobs

March 9, 2018March 7, 2018 Julie Campbell

Top insurance industry jobs - Women in Business

A recent UK study showed that despite an overall industry gender balance, top jobs belong mainly to men. Of every five top insurance industry jobs four are filled by men and only one is filled by a woman. This, according to a recent study in the United Kingdom. This reveals a gender imbalance within this industry that was not entirely obvious to spot. The reason is that when looking at the employment data across the entire insurance industry, women and men fill nearly the same total number of jobs. However,…

Home insurance premiums can rise due to nearby fracking

March 2, 2018February 28, 2018 Logan B.

$Home insurance premiums can rise due to nearby fracking 2$

Thousands of homeowners across Yorkshire are concerned as the operations prepare to begin. Many residents in areas surrounding upcoming fracking sites are concerned about rising homeowners insurance premiums. This is the case in a number of regions around Yorkshire where the operations may soon begin. Industry experts have cautioned homeowners in those areas that they should expect to pay more. The Yorkshire Post reported that experts in home insurance premiums believe fracking may affect the amount people pay. That said, precisely how the insurance rates will be affected has yet…

London tower block fire wasn’t without warning from the insurance industry

June 28, 2017June 26, 2017 Julie Campbell

The Grenfell Tower building was completely destroyed in a massive blaze, killing at least 79 people. The London tower block fire that led to the death of at least 79 people and injured many others did not occur without warning. The insurance industry in the United Kingdom had previously warned the British government that the external surfaces like the one on Grenfell Tower and several other buildings are flammable and dangerous. The insurance industry’s warning was issued a month before the killer blaze that shook the city and shocked the…

Auto insurance fraud is growing in the UK

August 19, 2015August 17, 2015 Marc

auto insurance refund Senior Man Driving A Toy Racing Car

Fraud is beginning to expand throughout the United Kingdom Auto insurance fraud continues to expand in the United Kingdom. According to the Association of British Insurers, fraud is quickly becoming one of the most problematic challenges that the insurance industry is facing. The number of fraudulent insurance applications, in particular, is increase, which is beginning to put more strain on insurance companies and is leading to higher costs as insurers invest more in anti-fraud measures. Auto insurance fraud is likely to place consumers under greater financial pressure, as well, as…

Widespread auto insurance fraud detected through driver database

August 18, 2015August 17, 2015 H. Cutner

Within the first year that insurers have had access to this database, there has been an 18 percent increase in detection. By the first anniversary of the day that the government in the United Kingdom provided auto insurance companies with access to the details of more than 40 million motorist details through a driver database, the insurers were capable of using the information to detect a far higher number of fraudulent applications. In fact, there was an 18 percent increase in the number of detection of lies on application forms…

British insurers are tackling insurance fraud more effectively

July 16, 2015July 15, 2015 Logan B.

Insurance fraud continues to be a problem for the industry, but insurers are fighting back Insurance fraud has been a problem that insurers have been dealing with for nearly as long as the industry has existed. Over the past few years, fraud has become a much more significant problem, however, as fraud methods are becoming more sophisticated and insurers are becoming more exposed to extreme financial losses. Insurers are doing what they can to combat fraud, however, and are becoming more adept at weeding it out and identifying those responsible.…

Insurance fraud exposure generate a daily savings of $5.58 million

July 15, 2015July 14, 2015 Julie Campbell

A new ABI study has shown that the efforts to stop fraudsters are saving consumers in the U.K. The Association of British Insurers (ABI) has now released its data about the impact of exposing insurance fraud in the United Kingdom, and the results are showing that it is saving consumers a massive amount of money. The report showed that a daily $5.588 million (£3.6 million) is saved because of exposing insurance cheats. According to the report, the daily amount is saved by consumers in the U.K. “saved by exposing insurance…