BIBA backs ABI on age

Broker body BIBA has backed demands that insurer continue to use age-weighted premiums and says brokers can help older people find cover thay cannot buy from cherry-picking direct insurers.

Commenting on the Association of British Insurers' (ABI) report: Age and Insurance: Helping older customers find the cover they need, The British Insurance Brokers’ Association’s (BIBA) technical and corporate affairs executive Graeme Trudgill said: "The ABI's report recognises that older consumers do not always know where to look to find travel and motor insurance cover. This has been demonstrated through the calls received to BIBA's consumer helpline which has assisted tens of thousands of consumers, many of whom have been refused by direct insurers or big name brands. Insurance brokers use their expertise to arrange cover for older consumers and those with medical conditions, placing them with suitable providers.

"Although many consumers may feel that they can't find cover, the simple solution is to use the BIBA consumer helpline to find an insurance broker to arrange insurance protection. The important thing is to make sure that consumers have protection and do not risk being uninsured.

"BIBA will continue to work with the government, the ABI, the age charities and other stakeholders to ensure a fairer system for older people in the forthcoming Equality Bill. BIBA strongly urges government to maintain a fair system of risk based pricing."