BIBA News

Britain Raises Insurance Premium Tax to 10% to Fund Flood Defenses

Britain’s finance minister George Osborne said on Wednesday he would raise the tax on motor and home insurance premiums by 0.5 percentage points to 10 percent to fund flood defenses, boosting insurance shares as the rise was smaller than anticipated. …

UK SMEs Fail to Outsource Non-Core Business Activities: Broker Survey

A significant number of leaders of small and medium-sized enterprises (SMEs) in the United Kingdom perform a lot of tasks outside their job descriptions, instead of outsourcing these to insurance brokers, recruiters or IT specialists, according to research carried out …

ACE’s 10 Tips to Help Brokers Place Effective Multinational Insurance Programs

When ACE Group last month launched ACE Multinational Partner, a package cover for UK & Ireland-based companies with one or more overseas subsidiary, it discovered that brokers were concerned about lack of knowledge and expertise in placing complex multinational programs. …

One-Quarter of British SMEs Fail to Read Their Full Insurance Policy: Research

Research conducted for the British Insurance Brokers’ Association (BIBA) found that leaders of British small and medium-sized enterprises (SMEs) do not always read their insurance documents, with over one quarter (29 percent) admitting that they never read the entire policy. …

Aqua Underwriting Enters UK Commercial Market with High Net Worth Products

UK-based Aqua Underwriting announced the launch of a range of niche commercial combined products exclusively for brokers, building on its success with high net worth (HNW) products in the personal lines market. Aqua said its “first commercial products and schemes …

ABI, UK Government, BIBA Team up to Help Older People Find Insurance

A bulletin from the Association of British Insurers states that “older customers will find it easier to get motor [auto] and travel insurance under an agreement between the ABI, the Government and the British Insurance Brokers’ Association (BIBA).” The agreement, …

New Products Catlin Select and Catlin Online to Launch at BIBA Conference

Catlin UK, part of the Catlin Group Limited, plans to unveil a new suite of products aimed specifically at UK brokers at this week’s BIBA (British Insurance Brokers Association) conference in Manchester. The products – Catlin Select and Catlin Online …

BIBA Calls for Realistic Regulation of UK Brokers

The British Insurance Brokers’ Association (BIBA) released the key findings of its Future of Regulation research on Monday March 21 at a Parliamentary Reception in the House of Commons, to an audience of MPs, civil servants, Lords and the industry. …