The Bank of England said a transition period after the Britain leaves the European Union would give banks more time to make orderly changes as Brexit poses risks to financial stability. With the UK due to leave the bloc in …
Britain faces a future of record-breaking wet winters, potentially leading to more of the widespread flooding seen in recent years, according to new modeling that incorporates changing climate patterns. England and Wales now have a 34 percent chance of record …
The insurance and long-term savings sector is one of the UK’s most productive industries, adding more than £40 billion (US$51.5 billion) a year to the economy and helping Britain thrive, according to a study commissioned by the Association of British …
“External cladding, made from combustible material can often cause significant fire spread upwards and between buildings, which is a particular concern for areas of high building density.” This now sadly prophetic statement was the Association of British Insurers’ response in …
UK insurer Ageas has begun to use artificial intelligence (AI) technology to help manage its motor claims in partnership with AI specialist Tractable. In what it describes as “a first” for the UK market, Ageas said the technology is now …
Trade credit insurers paid claims to UK businesses in 2016, amounting to more than £4 million ($4.9 million) a week, or £210 million ($256.8 million), according to figures released by the Association of British Insurers (ABI). These claims due to …
UK motor insurance premiums hit their highest recorded levels in the fourth quarter of 2016 and rose more than five times the rate of inflation in 2016, as tax increases, increased repair costs and the rising costs of whiplash-style injury …
The cost implications of the loss of passporting rights after the UK exits the European Union will weigh on re/insurers, as will any resultant economic downturn. However, A.M. Best does not anticipate taking any rating actions as a result of …
U.S. insurer AIG may move its European headquarters from London to another European Union country because of Britain’s vote to leave the EU, the head of the AIG’s European and UK operations said at an industry conference on Tuesday. AIG …
Cars of the future will need to collect a basic set of core data to prevent drivers being unfairly blamed if technology goes wrong, according to the Association of British Insurers (ABI). The ABI supports the formation of an standard …
