BIBA pushes FSA on price comparison sites
by Brian Turner
Story link: BIBA pushes FSA on price comparison sites
The British Insurance Brokers’ Association (BIBA) is challenging the Financial Services Authority (FSA) to review its Insurance Conduct of Business rules for electronic introductions - specifically price comparison sites that list insurance products.
This comes in the wake of a study funded by BIBA and carried out by FWD, which came to the conclusion that most […]
BIBA submits key points to Flooding Review
by Gill Montia
Story link: BIBA submits key points to Flooding Review
The British Insurance Brokers’ Association (BIBA) has published its submission to the Flooding: Lessons Learned Review, which has been commissioned by the Government.
In the document, BIBA makes the point that the balance of risk is changing, with shifting patterns of climate change.
It assumes an increased likelihood of flooding in the UK and recommends that eight […]
BIBA welcomes new Travel Insurance Review
by Brian Turner
Story link: BIBA welcomes new Travel Insurance Review
BIBA has welcomed the publication today by HM Treasury of its legislation to bring all travel insurance providers under FSA regulation.
Eric Galbraith Chief Executive of the British Insurance Broker’s Association, said: “The British Insurance Brokers’ Association has long campaigned for this legislation to protect the 20 million people who buy travel insurance every year. We […]
BIBA In FSA Frustration
by Stewart Douglas
Story link: BIBA In FSA Frustration
The British Insurance Broker Association has today declared its anger following the publication of the Financial Service Authority’s recent study into the way in which commercial insurance is sold and operated in the UK after its submission to the authority previously on the issue at hand.
The leading brokerage representative body has announced today that it […]
BIBA Announce Expansion Of Lorega Ties
by Stewart Douglas
Story link: BIBA Announce Expansion Of Lorega Ties
Leading broker institute BIBA has today unveiled a three year extension of its ties with claims services advocate group Lorega, in a move that will see the company provide loss recovery insurance for BIBA, with the a view to reaching out to its member brokers after a previous successful track record in partnership.
The British […]
Geldof To Headline BIBA 2008 Keynotes
by Stewart Douglas
Story link: Geldof To Headline BIBA 2008 Keynotes
The British Insurance Brokers’ Association has today announced its itinery of guest speakers for its upcoming 30th annual conference in Glasgow to take palce in 2008, including several notable keynote speech prospects including figures from a vairety of political and cultural backgrounds.
Amongst some of the more notable speakers to address the BIBA conference are former […]
BIBA Furious At New FSCS Rules
by Stewart Douglas
Story link: BIBA Furious At New FSCS Rules
Leading insurance organisation BIBA has today suggested that its members, comprising of a number of high profile national insurance brokers, could be expected to prop up some of the costs associated with compensation payments if troubled bank Northern Rock were to become insolvent, according to provisions under the Financial Services Compensation Scheme.
The British […]
BIBA Urge Caution Against Online Travel Policies
by Stewart Douglas
Story link: BIBA Urge Caution Against Online Travel Policies
BIBA, the British Insurance Brokers Association, have today released a report suggesting that online travel insurance policies may not provide adequate cover, and may offer consumers poor value for money as compare to traditional policies.
The announcement reflects the fact that BIBA believe online policies to provide less cover than what consumers are used to at […]
BIBA critical of new ATOL APC
by Richard Kilner
Story link: BIBA critical of new ATOL APC
Independent travellers are not adequately protected by the new ATOL APC (ATOL Protection Contribution) system, the British Insurance Brokers’ Association (BIBA) has warned.
Internet sales have increased hugely in recent times, resulting in many more people booking their own hotels and flights separately rather than using a more traditional travel organiser.
Consequently, the numbers of ATOL protected […]
BIBA opposes FSA fee disclosure proposals
by Gill Montia
Story link: BIBA opposes FSA fee disclosure proposals
The British Insurance Brokers’ Association (BIBA) has expressed strong views on the Financial Service Authority’s (FSA) proposed new treatment of fee disclosure to consumers, in respect of lower risk or “other” general insurance products.
The Association has called the plans “a licence for the unscrupulous to hide charges”.
In its consultation paper, the FSA proposes a […]
BIBA and UNLOCK petition for ex-offenders
by Gill Montia
Story link: BIBA and UNLOCK petition for ex-offenders
The British Insurance Brokers Association (BIBA) and UNLOCK (The National Association of Ex-Offenders) have joined forces to encourage the insurance industry to take a more flexible approach to insuring people who have been convicted of a criminal offence.
Each year the UK prison population and the number of convicted offenders increase: there are currently 7.3 […]
BIBA launches Medical Malpractice Scheme
by Gill Montia
Story link: BIBA launches Medical Malpractice Scheme
The British Insurance Brokers’ Association (BIBA) has launched the BIBA Medical Malpractice Scheme, in a joint venture with FSJ, the UK wholesale division of Heath Lambert.
The scheme will provide members and their clients with access to competitive medical malpractice cover plus other enhancements and benefits.
FSJ has over 40 years of experience in placing cover for […]
BIBA sceptical of household premium rises
by Gill Montia
Story link: BIBA sceptical of household premium rises
BIBA, the trade association of general insurance brokers, has criticised the decisions by some insurers to increase their household premiums.
It has described the increases as opportunistic and as a knee jerk reaction to this summer’s floods.
The association is reminding consumers that the market for home insurance is very competitive, and that is has yet to […]
BIBA stands firm on reduction in novice driver premiums
by Gill Montia
Story link: BIBA stands firm on reduction in novice driver premiums
BIBA, the trade association of general insurance brokers, has responded to suggestions from the Transport Select Committee that the insurance industry should reduce premiums for novice drivers.
The association has warned that such a move could increase premiums for claim-free drivers and that it believes it is only fair that the higher cost of claims caused […]
Flood Claim Could Exceed £1bn
by Gill Montia
Story link: Flood Claim Could Exceed £1bn
The recent flooding across the UK is expected to leave the insurance industry facing claims in excess of £1bn.
The Association of British Insurers (ABI) estimates that 27,000 homes and 5,000 businesses have sustained damage, and with further heavy rainfall occurring, the numbers could yet rise.
Some insurers are redeploying staff and increasing staffing levels in call […]
Emailed Certificates Could Save £11m
by Gill Montia
Story link: Emailed Certificates Could Save £11m
British Insurance Brokers’ Association (BIBA), the trade association of general insurance brokers, is supporting moves being made by the Department for Transport (DFT) to allow intermediaries and insurers to email motor insurance certificates to their clients.
The DFT is undertaking a consultation on the proposal, which BIBA believes could lead to approximately £11 million in […]
