Archive for the ‘Association of British Insurers’ Category

Celebrate safely – ABI publishes guide on organising street parties and other events

June 22, 2012 Comments off

Celebrate safely – ABI publishes guide on organising street parties and other events
Source: Association of British Insurers

With over 3,500 applications made so far to local authorities alone for street parties to celebrate the Queen’s Diamond Jubilee, this year looks set to be a bumper year for celebrations. To help party organisers ensure that events run smoothly, whether on public or private land or in your own home, the ABI has produced a guide.

‘Celebrate – An ABI guide to planning an event’ sets out what party organisers need to know, including:

  • Things to consider about your venue, such as is it safe for the number of people you expect, are outdoor activities involved, such as bouncy castles, and what fire aid will be available.
  • If planning a street party, steps you need to take, including contacting your local council.
  • Any requirements for public liability insurance and how this cover can help party organisers protect against things that could go wrong.

UK — Insurance Issues — Riots

August 17, 2011 Comments off

Source: Association of British Insurers

Many people have been affected by the rioting in cities across the country. Whether you are a homeowner, shopkeeper, own or run a business or want to give advice to people affected, there is information here to help answer your questions:

UK — The Use of Gender in Insurance Pricing

March 9, 2011 Comments off

The Use of Gender in Insurance Pricing (PDF)
Source: Association of British Insurers

Overview of main points

  • Risk-based pricing is key to the efficient operation of private insurance markets.
  • There are significant gender differences in accident, morbidity and mortality risks. Gender is used when it helps the accuracy of pricing products which cover these risks.
  • In line with UK gender legislation (and the EU Gender Directive), the use of gender as a rating factor is based on actuarial and statistical data on gender risk differences.
  • A ban on a relevant rating factor such as gender cannot be achieved without costs. These costs can be significant and would ultimately be borne by consumers.
  • Among other adverse effects for consumers, motor insurance premiums for young females would increase (by up to 25% on average, based on modelling), and pension income for the majority of annuitants would fall (by 2% or more).

  • Just removing gender as a rating factor does not necessarily achieve gender neutrality in insurance prices. Gender-neutral pricing would often be very costly, if not impossible, to achieve.

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