Responding to Environment Secretary Caroline Spelman’s comments about insurers looking for a subsidy to insure against flooding, the Association of British Insurers’ (ABI) director general, Otto Thoresen, says: “We are not arguing for a subsidy to benefit insurers. “We want a long term solution, negotiated constructively with the Government, that will help the insurance industry [...]
The Association of British Insurers (ABI) has launched a political campaign highlighting the scale of flood risk faced by constituencies across England and Wales. Quoting the latest Environment Agency flood data, the ABI claims that unfulfilled Government pledges to tackle the rising flood threat have left thousands of homes with a greater than 1 in [...]
As of today homeowners can benefit from a 30% introductory discount, as part of the Direct Line Sale, with a further 20% discount for shopping online. Stuart Curson, head of home insurance at Direct Line, said that after the high spending of Christmas January was the month to get finances in order, including home insurance. [...]
Home insurer AXA has warned Britons that a range of factors could make 2012 one of the riskiest on record for home insurance claims. Britain is poised for an eventful year, including occasions such as the Olympics, the Diamond Jubilee, the possible continuation of drought conditions and ongoing economic pressure. Thefts from homes increase by [...]
The festive period of Christmas and New Year often sees home contents rise significantly, which can also attract burglars, according to Towergate Insurance. Retail CEO Michael Rea explained that thousands of pounds of gifts tempt thieves at this time of year, and urged homeowners to pay attention not only to locks and security but to [...]
The Association of British Insurers (ABI) has dubbed the theft prone festive season the ‘theftive season’, as criminals target easy pickings during Christmas and the New Year. More than 10,000 burglary claims were handled by insurers over last Christmas with payouts totalling £15m. Many such cases involved the homeowners being away, on holiday or visiting [...]
The Association of British Insurers (ABI) is promising a speedy response from its members to policyholders who have suffered damage caused by the high winds hitting Scotland and other parts of the UK. The trade body confirms that storm damage, such as that caused by high winds, will be covered by home and business property [...]
The Government is being urged to announce proposals to address the matter of flood insurance after June 2013, when the Statement of Principles expires. The Statement of Principles was made between the ABI and the Government, and commits insurers to providing flood insurance (in given circumstances). As insurance policies frequently last a year the matter [...]
The Court of Appeal has dismissed appeals by Digital Satellite Warranty Cover and Satellite Services. The businesses, which are not registered with the Financial Services Authority (FSA), provided cover for Sky satellite TV equipment, in return for an insurance premium. Both firms described their offerings as “extended warranties” but in January, the FSA secured winding [...]
Those affected by flooding following the heavy rain that has afflicted parts of Scotland have been advised to contact their insurer with all haste by the ABI (Association of British Insurers). Director of General Insurance Nick Starling described the flooding as precisely the sort of reason that insurance was designed for. Starling added that insurers [...]
As winter approaches, Perkins Slade has offered homeowners some guidance regarding the best way to stave off the worst effects of the cold weather. Almost a third (30%) of people are unaware of where their stopcock is, rendering them helpless should burst pipes occur and increasing the eventual bill. In addition, many people (the elderly [...]
AXA is warning homeowners about the dangers of burst pipes due to adverse winter weather. The last two winters have both been historically severe, and saw one in every thousand people fall victim to burst pipes, with claims averaging £25,000. ‘Escape of water claims’ have spiked by 50% during the last two winters, putting tens [...]
Following a temporary suspension, HomeServe has recommenced limited sales and marketing activities. In October, the home emergency insurer responded to accusations of mis-selling by suspending outbound sales calls, reviewing protocols and retaining staff. The group is now in the process of reviewing its direct mail marketing material and re-contacting customers in relation to complaints from [...]
Analysis by Direct Line home insurance has uncovered the worst subsidence hotspots in the UK. London and the south-east are particularly prone to the problem due to the nature of the soil there, which has more clay than is usual in other parts of the country. Subsidence claims run into thousands of pounds, and the [...]
After the costly cold weather that struck the country last winter, Aviva is advising homeowners to give their properties a once over to help stave off burst pipes. Last winter Aviva recorded sixfold the average number of claims related to winter weather, with 60% of claims for burst pipes. As well as being greatly inconvenient, [...]
Home insurer AXA has warned homeowners of the potential for significant damage during Halloween. Almost 10% of UK households have been damaged at one time or another by trick or treaters, and whilst most damage is minor some can be serious. Claims can increase by as much as 200% on Halloween compared to a typical [...]
Emergency home repair insurer, HomeServe, is reported to have suspended outgoing sales calls and embarked on a retraining programme for staff, in response to accusations of mis-selling. According to a report in The Sun, the company is in the process of reviewing the protocols followed by its 500 sales staff. In a statement to the [...]
The Association of British Insurers (ABI) has advised those affected by the recent flooding in Northern Ireland, Wales and south-west England to contact their insurer as soon as possible. Director of General Insurance Nick Starling said that it was precisely for such events that insurance existed, adding that insurers will have been aware of bad [...]
Homeowners are being warned by Aviva to beware vandalism, theft and burglary as the winter nights become longer and the clocks go back. The insurer conducted research, surveying 16 police forces regarding last year from 30 October to 5 November, and found that average reported burglaries increased by more than a quarter (26%) compared to [...]
The trend for new British homes to be built with ever smaller floor areas has stopped, according to new figures from The Building Cost Information Service (BCIS). From 1900 to 2000 new homes saw a decline of 16% in terms of floor area, but this long term trend has halted across the full spectrum of [...]
