The FSB has praised major insurers for meeting 21-day renewal deadlines
Major insurers have received a pat on the back from the Federation of Small Businesses (FSB) for meeting the ABI/Biba 21-day service standard for liability renewals.
An FSB spokesman described the current situation as an "improving picture" after a survey it conducted in May revealed that more than half of small businesses were not receiving renewal information 21 days prior to renewal, as required by the standard.
"The larger insurers have generally improved their game," the spokesman said, after a meeting between the ABI and FSB last week to discuss the situation.
An ABI spokesman said the meeting was "very positive", but the FSB spokesman said that there were still some small businesses, particularly in high-risk sectors, who were not receiving liability renewal details at least
21 days prior to renewal.
The spokesman declined to name the insurers responsible, but said they were smaller companies who were not ABI members and as such, were not bound by the standard.
He said the FSB would look at the cases that had come to its attention over the summer, and would be writing to the companies involved.
A Statement of good practice was issued by the ABI and Biba last August setting a standard that from 1 November 2003, insurers should provide renewal details to policyholders at least 21 days prior to renewal date for employers' liability and public liability policies.
Complaints earlier this year from brokers and small businesses suggested the standard was not being met.
