Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 18th of January 2018
February 17, 2011

BIBA demands speedier FSCS review

by Gill Montia

Story link: BIBA demands speedier FSCS review

The British Insurance Brokers’ Association (BIBA) is calling on the Financial Services Authority (FSA) to accelerate its fundamental review of the Financial Services Compensation Scheme (FSCS). The Association’s chief executive, Eric Galbraith, is clearly alarmed by recent comments from the FSA which suggest the review might not be as high a priority for the regulator […]



February 14, 2011

BIBA reminder on Continuous Insurance Enforcement

by Gill Montia

Story link: BIBA reminder on Continuous Insurance Enforcement

The British Insurance Brokers’ Association (BIBA), in conjunction with the DVLA and the Motor Insurers’ Bureau (MIB), is reminding motorist that a new law, to be rolled out in late Spring, will mean that they must keep a vehicle insured unless they have notified the DVLA that it is being kept off-road. Details of the […]



February 7, 2011

BIBA enhances research with Broking Now! tie-up

by Gill Montia

Story link: BIBA enhances research with Broking Now! tie-up

The British Insurance Brokers’ Association (BIBA) has joined forces with Broking Now!, the insurance broker omnibus research panel from FWD Marketing. The panel, which consists of a wide-range of business placing brokers, aims to provide a voice to the broking sector through independent research. BIBA will use its research to support lobbying campaigns and in […]



January 21, 2011

BIBA partners Perkins Slade in credit management offering

by Gill Montia

Story link: BIBA partners Perkins Slade in credit management offering

The British Insurance Brokers’ Association (BIBA) has appointed Perkins Slade as a scheme provider for credit management products and services. The new scheme, exclusively for BIBA members, includes special commission arrangements, preferential rates and a wider scope of cover and product offerings. In addition, BIBA members can gain access to advice on credit risks and […]



January 11, 2011

BIBA acts on motor insurance costs

by Gill Montia

Story link: BIBA acts on motor insurance costs

The British Insurance Brokers’ Association (BIBA) is calling on the Government to implement an eight-point plan to reduce the spiralling cost of motor insurance. The Association’s recommendations, which have been submitted to the Transport Minister ahead of today’s Transport Select Committee meeting, include: The introduction of Continuous Insurance Enforcement; signposting to a relevant broker, particularly […]



December 6, 2010

BIBA appoints Broker Direct motor scheme provider

by Gill Montia

Story link: BIBA appoints Broker Direct motor scheme provider

The British Insurance Brokers’ Association (BIBA) has appointed Broker Direct as a scheme provider, offering private motor and light commercial vehicle products. The move means that BIBA members will have access to a variety of motor vehicle products and a guaranteed fast-track agency application process. They will also benefit from access to BDAssistance, a breakdown […]



November 22, 2010

Consumer continue to cut insurance protection

by Gill Montia

Story link: Consumer continue to cut insurance protection

Homeowners, travellers and motorists could be putting themselves at financial risk by cutting out or reducing key insurance cover that provides protection in the event of fire, flood, theft or an accident. So says the British Insurance Brokers’ Association (BIBA), which has raised the alarm following a survey in which 57% of broker respondents reported […]



November 10, 2010

BIBA and MPs address motor insurance costs

by Gill Montia

Story link: BIBA and MPs address motor insurance costs

The British Insurance Brokers’ Association (BIBA) is calling on the Government to implement an eight point plan to reduce the spiralling cost of motor insurance. Addressing MPs at yesterday’s Transport Select Committee inquiry, BIBA’s head of corporate affairs, Graeme Trudgill, said: “We think the key priorities for the Government should be to introduce Continuous Insurance […]



November 3, 2010

New industry standard for PMI authorisations

by Gill Montia

Story link: New industry standard for PMI authorisations

The British Insurance Brokers’ Association (BIBA) and the Association of Medical Insurance Intermediaries (AMII) have launched a new industry standard template for private medical insurance (PMI) authorisations. In addition to introducing a standard review period of 90 days, the new form clearly establishes the options a customer has in dealing with a new intermediary or […]



October 27, 2010

BIBA gets to work on PMI tax issues

by Gill Montia

Story link: BIBA gets to work on PMI tax issues

The Healthcare Focus Group of the British Insurance Brokers’ Association (BIBA) is to set up a working group to examine the issue of personal taxation and Private Medical Insurance (PMI). Tax concessions for the over 60s and how the removal of concessions have impacted on PMI sales will be included in the review and the […]



October 19, 2010

BIBA members highlight “cost” in regulatory reform

by Gill Montia

Story link: BIBA members highlight “cost” in regulatory reform

The British Insurance Brokers’ Association (BIBA) has submitted a formal response to HM Treasury’s consultation paper on a new approach to regulation. Based on the comments of a cross-section of BIBA members, the two-part response answered the questions in the consultation paper and provided both quantitative and qualitative comments on the current regulatory regime. Putting […]



October 5, 2010

BIBA looks for “Opportunities in Adversity” in 2011

by Gill Montia

Story link: BIBA looks for “Opportunities in Adversity” in 2011

The British Insurance Brokers’ Association (BIBA) has announced that “Opportunities in Adversity” will be the theme for its 2011 conference and exhibition, to be held at Manchester Central on 11th and 12th May 2011. The title has been chosen in recognition of the difficult economic conditions facing the UK, while at the same time giving […]



September 6, 2010

Brokers tested over claims negotiations

by Gill Montia

Story link: Brokers tested over claims negotiations

New research from the British Insurance Brokers’ Association (BIBA) suggests that brokers are having to fight harder to get claims paid, with the body blaming stricter policy interpretations and insurers’ anti-fraud systems for the struggle. Sixty-seven per cent of BIBA members questioned said they had to get tough with insurers on behalf of customers, and […]



July 7, 2010

BIBA secures initiative award for travel offering

by Gill Montia

Story link: BIBA secures initiative award for travel offering

The British Insurance Brokers’ Association (BIBA) has won the Commercial Initiative award at the Trade Association Forum Best Practice Awards. The accolade recognises BIBA’s development of a personal travel insurance offering, created in conjunction with Tokio Marine Europe. According to BIBA, the policy has helped reshape the UK travel insurance market by providing families with […]



June 10, 2010

Emergency budget threatens 5% IPT rate

by Gill Montia

Story link: Emergency budget threatens 5% IPT rate

The likelihood that tax rises included in this month’s emergency Budget will embrace Insurance Premium Tax (IPT) has prompted the British Insurance Brokers’ Association (BIBA) to warn that such a move would prove counter-productive. The IPT rate currently stands at 5% and according to BIBA, a rise would only discourage recession-weary individuals and small firms […]



May 19, 2010

BIBA appoints Millennium for PPI launch

by Gill Montia

Story link: BIBA appoints Millennium for PPI launch

The British Insurance Brokers’ Association (BIBA) has appointed Millennium Insurance as the exclusive provider of its new members’ scheme for payment protection insurance (PPI). Millennium, which is the distribution arm of Direct Group, will provide a product to be sold on a standalone basis, with or without a mortgage or personal loan. Key features of […]



May 12, 2010

Motorists alerted to lack of misfuelling cover

by Gill Montia

Story link: Motorists alerted to lack of misfuelling cover

The British Insurance Brokers’ Association (BIBA) warns that damaged caused by misfuelling is not covered by nearly a third of motor insurance policies. According to the Association, 150,000 misfuelling incidents take place each year and in 95% of cases, drivers put petrol into a diesel vehicle because the wider diesel filler neck takes the narrower […]



April 15, 2010

BIBA confirms volcanic ash cover on travel policies

by Gill Montia

Story link: BIBA confirms volcanic ash cover on travel policies

The British Insurance Brokers’ Association (BIBA) has issued advice for travellers affected by the disruption caused across the UK’s airports by a cloud of ash from a volcanic eruption in Iceland. The Association has confirmed that BIBA Protect travel insurance policies, underwritten by Tokio Marine Europe Insurance Limited and purchased from a BIBA broker, will […]



April 1, 2010

Electronic motor insurance certificates by April

by Gill Montia

Story link: Electronic motor insurance certificates by April

New measures that will allow the electronic delivery of motor insurance certificates are about to become law. Proposed legislation before Parliament today will amend the Road Traffic Act 1988 and Motor Vehicle (Third Party Risks) Regulations 1972. New rules allowing a motor insurance certificate to be issued as an email attachment or accessed via a […]



January 8, 2010

BIBA partners Bluefin for new D&O offering

by Gill Montia

Story link: BIBA partners Bluefin for new D&O offering

The British Insurance Brokers’ Association (BIBA) has partnered with Bluefin to provide a new members’ scheme for Directors & Officers (D&O) insurance. Bluefin is already a BIBA scheme provider, having run MotorRiSK BIBA for almost four years. The new policy, which includes a number of exclusive benefits to BIBA members, is underwritten by ACE European […]