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...The Association of British Insurers welcomed the PRA’s acknowledgment of the importance of reinsurance to well-functioning insurance markets, and said the sector gave “vital protection and peace of mind”...
...Graeme Trudgill, chief executive at the British Insurance Brokers’ Association, a trade body, said it had been working closely with the government and its members on the pledge....
...The British Medical Association, which represents doctors, also warned in a position statement last week that any collective agreement to boycott a private medical insurer could result in sanctions from...
...Hunt’s Budget maintained a tight grip on public spending to help finance a £10bn a year cut in national insurance contributions....
...Jonathan Dixon, secretary-general at the International Association of Insurance Supervisors, told the Financial Times that while the sweep of private capital groups into the life insurance sector helped...
...Payouts for private claims hit a record of almost £3bn in 2022, the latest year for which there is complete data, the Association of British Insurers said....
...The Association of British Insurers’ Investment Delivery Forum, set up to facilitate the promised investments, on Monday said new public-private partnerships that use taxpayer funds would reduce risks....
...By contrast, the average annual policy cost £561 in the third quarter of 2023, a yearly rise of 29 per cent, according to the most recent edition of the Association of British Insurers’ own index, which...
...The combined force of Babet, Ciaran and Debi created £352mn in claims for damaged homes, according to the Association of British Insurers, which said it was too early to gauge the scale of damage from the...
...The insurance sector is expecting a hefty bill....
...Employers’ association the CBI has proposed that employee assistance programmes, such as health insurance, be made a fully tax-free benefit, while the CBI and British Chambers of Commerce are calling for...
...The news will also come as a setback to attempts by Lloyd’s to bring more investors into the insurance market, which is a centuries-old hub for specialist commercial insurance and reinsurance....
...A spate of collapses such as discount retailer Wilko and construction firm the Buckingham Group led to a surge in non-payments, the Association of British Insurers said....
...A tracker provided by the Association of British Insurers, a trade body, said the average annual home insurance policy — covering building and contents — in the second quarter was £329, up 10 per cent on...
...Michael Bright Chief Executive, Structured Finance Association, Washington, DC, US...
...The point of the temporary accounting-rule change, from the National Association of Insurance Commissioners, was to shield life insurers’ capital from losses caused by rising interest rates....
...Meanwhile, Hunt has given £105,261 over the past five years to his South West Surrey constituency Conservative association to help bolster his chances of re-election, the Guardian revealed....
...Some 5.8mn people in the UK are covered by this insurance — the highest number since 2008 — according to data from the Association of British Insurers....
...The Association of British Insurers said insurers were determined to ensure motor insurance was competitively priced but the rising costs of repairs, energy, labour and replacement parts had made this “increasingly...
...Players said they hoped unionising would force Dartmouth to grant them health insurance to cover the cost of treating injuries. “Dartmouth seems to be stuck in the past....
...Robinson and other experts have likened the probe to the payment protection insurance scandal, which dates back to the 1990s when banks mis-sold insurance to millions of customers, leading banks to later...
...Applications of AI in insurance Similarly, AI’s ability to process data, spot patterns and make decisions is finding practical applications in insurance....
...The chancellor’s justification for cutting national insurance contributions was to make work pay. “Lower taxes. More jobs. Higher growth,” he said. Up to a point that was true....
...A second approach would be to adopt the Insurance Capital Standard (the ICS) being developed by the International Association of Insurance Supervisors, tailoring it specifically for reinsurers....
...That proposal is fiercely opposed by the Korean Medical Association, which accuses the government of failing to address falling pay and deteriorating conditions for trainee doctors....
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