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The Latest Breaking News from ABI

Here’s how much the average home insurance payout has increased

In the year to September 30, the average sum paid out by home insurers was £4,096, marking a 64% increase compared with the previous year

The Independent UK

Christmas shoppers warned to be on their guard against thieves

According to the Association of British Insurers, insurers dealt with the equivalent of 185 domestic burglary claims per day last Christmas.

The Independent UK

ABI urges cut to tax adding nearly £100 to motor and home insurance cost

For motor and home insurance alone, insurance premium tax typically equates to an added cost approaching £98 per year, the ABI said.

The Independent UK

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29% annual jump in average price paid for motor insurance

Delays in repair and supply chains, the rising cost of raw materials and increasingly sophisticated car technology are feeding into insurance costs.

The Independent UK

How to choose the right UK health insurance

From saving money with an excess or discounts to weighing up the ethics

The Guardian - UK

Households affected by Storm Babet urged to tell insurers as soon as possible

Insurers can make emergency payments, arrange temporary emergency accommodation, and organise necessary repairs, the ABI said.

The Independent UK

Home insurers record a jump in subsidence payouts as volume of claims rises

The total value of subsidence payouts, at £54 million, jumped by 21% compared with the second quarter of 2022, the ABI said.

The Independent UK

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Motor and buildings insurance complaints to ombudsman hit five-year high

From April to June, the Financial Ombudsman Service received 3,869 complaints about car and motorcycle insurance and 1,776 buildings cover cases.

The Independent UK

Insurers urge ‘extreme caution’ by Government over potential pension changes

The central purpose of DB pension schemes to pay the benefits promised to members should not be undermined, the Association of British Insurers said.

The Independent UK

Record £2.5bn in motor claims was paid out between April and June, says ABI

Energy inflation, labour rates, more costly repairs, longer repair times and increased second-hand car prices have fed into motor insurers’ costs.

The Independent UK

Feeling the heat: how extreme weather is pushing up UK home insurance costs

Subsidence claims rise as climate crisis causes heatwaves, storms and flooding

The Guardian - UK

Insurance scams drop by nearly a fifth, but value jumps as fraudsters ‘aim big’

The Association of British Insurers said the number of fraudulent claims dropped by 19% to 72,600 last year, marking the lowest figure since 2005.

The Independent UK

Average price paid for motor insurance has reached record high, says ABI

The average premium paid for private comprehensive motor insurance in the second quarter of 2023 was £511, the highest since records started in 2012.

The Independent UK

Travel insurers ‘dealt with one new claim every two minutes typically in 2022’

Travel insurers dealt with 362,000 claims in 2022, surging by 148% compared with 2021, according to the Association of British Insurers.

The Independent UK

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The Guardian - UK

Europe heatwave: what should you do about travel plans across the continent?

Sweltering temperatures and wildfires are leaving holidaymakers on edge – and insurers won’t pay out for every scenario

The Week

How to find the right home insurance

Home insurance premiums are rising, but this type of cover may be too important to skip.

Investors Business Daily

Constellation Brands Tops Earnings On Strong Modelo Beer Sales, But STZ Stock Fizzles

Constellation Brands beat Q1 earnings forecasts Friday on strong Modelo beer sales. But STZ stock eased premarket after results.

The Guardian - UK

UK drivers complain as car insurance renewal costs rise up to 70%

Latest financial pain in cost of living crisis comes from steep price increases for motor cover

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Investors Business Daily

Anheuser-Busch Upgraded To Buy, Even If Bud Light Sales Never Fully Recover

Deutsche Bank upgraded Anheuser-Busch stock Thursday saying the worst of the Bud Light boycott is over, even if sales never fully recover.

The Independent UK

Pet insurance payouts top £1bn in 2022 as owners face costly vet treatment

Claims reached a record high in 2022 as pet owners faced expensive vet bills, the Association of British Insurers said.

Evening Standard

Why has car insurance gone up? Londoners now pay more than £1,600

The average car insurance cost in the UK is at its highest ever recorded

The Independent UK

Record £2.4bn in motor claims paid in first quarter of 2023, say insurers

The total value of motor claims payments recorded by the Association of British Insurers was up by 14%, compared with the first quarter of 2022.

Daily Record

Average price of home insurance rises to more than £310 during first part of this year

Home insurers paid out £2.5 billion to help customers cope with unexpected events in 2022.

The Independent UK

6% annual increase in average price paid for home insurance

The average price of combined home buildings and contents insurance has increased at a below-inflation rate over the past year, the ABI said.

Wales Online

Average price of car insurance up 16% in first quarter of this year

Energy charges, paint prices and courtesy car costs are among the outgoings which are pushing up the cost of repairs

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