All BIBA articles – Page 3
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Latest NewsBiba confirms community theme for 2022 conference
The trade body’s annual event is scheduled to return in May next year
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Latest News
FSCS forecasts £900m levy amid postponed retail pool
Postponing the retail pool gave FSCS time to gain ’better understanding of failures for the current financial year’ chief executive Caroline Rainbird says
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Latest News
Government’s post-Brexit financial services regulation proposals could see insurance sector ‘flourish’
The consultation on the future regulatory framework will close on 9 February next year
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Latest News
Trade bodies band together to create standardised product governance assessment form
Without cross-market guidance, the new rules had the potential to ‘snowball into an unmanageable administrative burden’ for insurance market participants, says LMA head of regulatory affairs
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Insight
Parametric products will have role to play in closing protection gaps
Broker and insurer collaboration will be vital to create parametric ‘products that will meet the challenges of new risks and rising demand’
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Insight
Clarity over ‘excessive’ administration fees vital as FCA tightens rules
Following the FCA warning that firms are struggling to meet its deadline for the implementation of new fair value rules, the debate over broker administration fees and potential double charging has intensified
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Latest News
Biba and MGA launch new scheme to support the media and entertainment sector
Creating the new insurance scheme was a ‘direct result of member requests’ following a challenging 2020
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Features
October deadline for FCA GI pricing changes is ‘a rude awakening’ for brokers
The first batch of changes from the FCA’s pricing reforms are coming into effect at the end of this month, but industry commentators fear brokers won’t be ready
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Features
Insurance sector must tap into ‘powerful tool’ of PR to repair reputation
The Covid-19 pandemic hit the industry’s reputation hard – now, the sector is scrambling to get to grips with expectation gaps and marketing in a bid to boost customer relationships
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Features
Biba seeks to extend signposting reach to improve access to insurance
Increasing amounts of data and the impact of the pandemic are making it ‘increasingly difficult’ for insurance seekers to obtain cover, adds committee chair
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Latest News
Insurance industry backs government’s live event reinsurance scheme in partnership with Lloyd’s
Several syndicates in the Lloyd’s market, including Arch, Beazley, Dale Underwriting, Hiscox and Munich Re, are supporting the initiative
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Latest News
Household water leak claims up by more than 30% for Q1 2021
Insurers are calling for clear standards for the plumbing industry to make sure contractors that fix water leaks are properly qualified
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Latest News
Biba’s 2020 turnover fell by 36% due to Covid-19 impact
However, the trade body was able to return ‘a small surplus’ because of ‘measures to curtail expenditure’
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Latest News
Insurance industry backs EC decision to scrap Green Card requirement for UK drivers
The ABI, MIB and Biba have welcomed the news after long campaigning for it to be scrapped
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News Analysis
'Unified action' needed to address challenges in professional indemnity insurance
An expert panel at Biba’s annual conference last month debates the ongoing challenges in professional indemnity insurance and what changes should be made
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Latest News
Covid-hit cash strapped SMEs borrow more to fund business insurance – Premium Credit
The premium finance provider is urging all SMEs to consider finance options as they plan for the future post-pandemic
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News Analysis
Soaring professional indemnity insurance pricing and low trust creates ‘perfect storm’
An expert panel at Biba’s conference last month discusses the current state of the professional indemnity insurance market
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Features
Price walking proposals ‘eclipsed’ fair value impact on SME insurance
Brokers still have a lot to discuss ahead of implementing the FCA’s proposals on fair value this year, including considerations around commissions
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Latest News
Biba renews contract with professional indemnity broker
Biba’s head of technical services noted the ’challenging market conditions’ the sector is experiencing around professional indemnity
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Features
Elizabeth Linder: Insurance firms must stay on top of unregulated social media
With more brokers and insurers using social media to widen their customer pool, ex-Facebook’s Elizabeth Linder discusses what firms need to be aware of
