3 UK INSURANCE KEY FACTS 3 The UK insurance industry is the third largest in the world and the largest in Europe. It is an essential part of the UK s economic strength, managing investments amounting to 26% of the UK s total net worth and contributing 10.4 billion in taxes to the Government. Employing some 290,000 people in the UK alone, the insurance industry is also one of this country s major exporters, with almost 30% of its net premium income coming from overseas business. The ABI has almost 350 members which account for some 90% of insurance premiums in the UK. On behalf of our customers, the ABI works with a variety of stakeholders. These include the Government and political parties in the UK and EU, regulators, consumer groups, the media and the general public. The ABI aims to ensure the UK insurance industry goes from strength to strength by providing high quality products and services to customers whilst continuing to be a global leader and serve the UK economy. This booklet, gives 2011 facts and figures about UK insurance and its contribution both to the economy and society.
4 4 UK INSURANCE KEY FACTS Insurance and the economy The UK insurance industry is the largest in Europe and the third largest in the world, accounting for 7% of total worldwide premium income. Breakdown of worldwide premium income by country, % 1% 1% 2% 3% 3% 3% 5% 5% 6% 7% 26% 14% United States Japan United Kingdom France Germany China Italy Canada South Korea Netherlands Switzerland Ireland Other 1 Source: Swiss Re. Sigma No 2/2010. Note that Switzerland and Ireland are not the next largest countries by premium income, but are included because, together with the Netherlands, they have more favourable tax regimes than the UK and as a result are attracting business away from the UK.
5 UK INSURANCE KEY FACTS 5 It employs some 290,000 people. 2 This is more than a quarter of all financial services jobs, and twice as many as are employed in the combined electricity, gas and water supply sectors. It is highly competitive over 1000 companies are authorised to write general insurance business in the UK, and a further 300 are authorised to write long term savings, pension and protection products. The insurance sector is responsible for investments of 1.8 trillion, equivalent to 26% of the UK s total net worth. 3 It is a major contributor to the UK s tax take. In the 2010/11 tax year the insurance industry contributed 10.4 billion in taxes, equivalent to 1.9% of total Government tax receipts. Of this, 2.7 billion was Corporation Tax and 1.6 billion was Insurance Premium Tax. 4 It is also a major exporter about 30% of its net premium income comes from overseas business, most of which is long-term business ( 46 billion). 2 Source: ONS, Economic and Labour Market Review, April 2011 and ABI. End-year This figure includes an estimate of those in auxiliary businesses (brokers, actuarial consultants etc.) which is no longer available separately from all financial services. 3 Source: ONS, Blue Book, Source: ONS, The Blue Book, 2011 edition.
6 6 UK INSURANCE KEY FACTS Insurance and its customers Almost every adult and business in the UK has involvement with the insurance industry in some way. The chart below shows, for 2010, the percentage of households with different types of insurance products, and the average annual expenditure on insurance products by those households. 5 Households buying products and the price they paid 6 % 80 2,750 2, , , , , ,250 1, Contents Motor Buildings Life Insurance Morgage Protection Personal Pension Medical Income Protection % of households with insurance Average annual household spending on insurance 5 National Statistics Crown Copyright The Expenditure and Food Survey is Crown Copyright. Figures relate to 2010, the latest available. 6 This does not include insurance provided by employers (e.g. medical cover).
7 UK INSURANCE KEY FACTS 7 Of the 26.3 million households 7 in the UK in 2011, an estimated 19.7 million households have contents insurance, and 16.6 million have buildings insurance from which 2.1 million claims were made with a total value of 3.3 billion, or the equivalent of 9.0 million per day. The pay-out for an average household fire claim was 10,200, for a theft claim it was 1,500 and for a claim following a major flood it is estimated at 30, million private vehicles were insured. 3.2 million claims were notified in 2011 resulting in payments to customers of 19.4 million each day and costing a total of 7.1 billion. 4.6 million commercial vehicles were insured. 792,000 claims were made in 2011, resulting in payments to customers of 2.2 billion. 3.7 million was paid each day to businesses on property damage, amounting to 1.4 billion in million people are covered for private healthcare, and 2.6 billion was paid to reimburse the cost of private healthcare in million was paid to customers each day for accident & health claims. 5.9 million was paid to customers each day for liability claims, such as for accidents at work, professional indemnity and injuries to the public on commercial premises, in total costing 2.2 billion in Source: ONS Families and Households, 2001 to 2011.
8 8 UK INSURANCE KEY FACTS 26.2 million travel insurance policies were bought by consumers in million claims were made in 2011, resulting in 1.1 million paid to customers each day. Customers paid an average of 24 for annual travel insurance and 35 for single trip cover. Customers making a travel insurance claim received on average 594 in Approximately 8.5 million households benefit from a variety of long-term insurance products. 5.7 million pension annuity policies are in payment, with 33.1 million paid to customers each day. 49% of the working population contribute to a pension policy million individual pension policies are in force, of which 9.6 million receive regular premiums averaging 1,131 per annum. 2.5 million people in occupational pension schemes contribute 4,236 per person on average million protection, term and whole life policies are in force. customers received benefits of around 36.8 million per day. There are 9.6 million endowment policies and investment bonds in force. investors received benefits from these policies amounting to 53.6 million per day. 8 ABI Quarterly Consumer Survey Q
9 UK INSURANCE KEY FACTS 9 D N I X V P Y M Y U Q G V T H V F M N R L K Z B P H Z P K C F V V Q S R M P E N S I O N S X J Q X T U F I P B T J G I N U J K A B S R Z D D O H Y C X E N O I S N E P E F O S X U J R E F O R M R Z Z W X A C S M Z M F L O O D I N G S V N T D T Q R S D O N U Z Y P I O O R G G U V S K V X R L Q N G M D P R O T E C T I O N T G W E B E O L T D J O M J G E S N R K M O N L N R J Q S V M H T S O P D C H N Y N T J L O Z I N F I N S U R A N C E S T K O J R U Y H H T B J G G N O P K Z A Z H R D Z P M D G E R T J T U Y Z E C O N O M Y Z G E F K D
10 10 UK INSURANCE KEY FACTS Key Issues and Statistics While the ABI carries out work across the insurance industry it has identified some key priorities for action. Motor Insurance Insurers have made an underwriting loss on private motor insurance for seventeen successive years, paying out more in customer claims and expenses than they received from customer premiums was the worst result on record. The number and cost of bodily injury claims have soared, and the ABI is working hard with Government on civil legal reform so that costs can be reduced and premiums for customers can come down. Domestic motor insurance results, m 10,000 8,000 6,000 4,000 2,000 0 (2,000) Net Written Premium Net Claims Incurred Underwriting Result
11 UK INSURANCE KEY FACTS 11 In 2011, insurers received 13.3 billion in UK motor premiums, ceded 1.7 billion in reinsurance and paid out 12.1 billion in motor claims and expenses. Insurers paid out 9.3 billion in motor claims in A motor claim was made for 14 in every 100 private cars insured and 1 in every 20 motorcycles insured in The average cost of motor claims made and paid in 2011 was 4,527. The average cost of a motor theft claim was 2,652 in Fraud In 2011, insurers detected an estimated 983 million in fraudulent general insurance claims. The ABI estimates that around 2 billion goes undetected each year, adding around 50 to the insurance premium costs of each UK household. Insurers prevented around 40 million in fraudulent long-term insurance claims. To protect honest customers the industry has invested significant resources in deterring and detecting insurance fraud and will continue to do so. This includes: The Police Insurance Fraud Enforcement Department, a specialist police unit funded by insurers which is dedicated to tackling insurance fraud. It became operational in January 2012, and in the first seven months of operations it made 120 arrests and investigated more than 8 million of suspected insurance fraud.
12 12 UK INSURANCE KEY FACTS The Insurance Fraud Bureau, a not-for-profit organisation funded by the insurance industry which is specifically focused on detecting and preventing organised and cross-industry insurance fraud. The impact of the IFB has been very positive since its launch in July 2006 with numerous arrests and tens of millions of pounds of savings for insurers and their customers. The Insurance Fraud Register in 2012 a cross-industry database funded by insurers which brings together all data on known fraudsters held across the industry, enabling insurers to weed out fraudsters who have committed fraud against other insurers in the past. Agreeing to fund a new database to be built by the DVLA which will make it much more difficult for potential fraudsters to give inaccurate information about driving entitlements and driving offences in order to get lower premiums. This is due to become operational in In 2011, insurers uncovered 138,814 fraudulent general insurance claims, or 2,670 every week. In general insurance, liability insurance saw the highest level of detected fraud as a percentage of the value of total claims (10.4%). The number of detected fraud cases in long-term insurance grew by 32% between 2010 and 2011.
13 UK INSURANCE KEY FACTS 13 Flooding Over 5 million homes in England and Wales, or one in every six homes, are at risk of flooding, and the frequency and severity of flood events is rising. Insurers have paid approximately 5 billion to households and businesses affected by flooding since The Statement of Principles agreement, which safeguards this flood cover, but not the cost of premiums, expires in June Insurers are working closely with Government to try to ensure flood insurance remains widely available and affordable to consumers in the long term. Asbestos Asbestos-related industrial disease causes terrible suffering and processing insurance claims poses particular issues due to the long period between exposure and development of the disease. Insurers are working with Government to improve compensation processes and outcomes for all UK consumers making employers liability claims. This has included establishing a support scheme to compensate people suffering from mesothelioma who are unable to trace their employer s insurer. More generally, employers liability insurance compensates employees for damage caused to them in the workplace. This covers both accidents at work and industrial diseases.
14 14 UK INSURANCE KEY FACTS Employers liability insurance results m 1,500 1, (500) Net Written Premium Net Claims Incurred Underwriting Result Insurers have made a loss on employers liability insurance for six years, paying out more in customer claims and expenses than they received in premiums. In 2011, insurers received 882 million in Employers Liability net premium and paid out 1.0 billion in claims and other expenses. In 2011, insurers paid out 744 million to compensate people who were injured at work.
15 UK INSURANCE KEY FACTS 15 D N I X V P Y M Y U Q G V T H V F M N R L K Z B P H Z P K C F V E M P L O Y E R S S I O N X J Q X T I F I P B T J G I N U J K A B A R Z D D O H Y C X E N O I S B E P E F O S X U J R E F O R I R Z Z W X A C S M Z M F L O L D I N G S V N T D T Q R S D I N U Z Y P I O O R G G U V S T V X R L Q N G M D P R O T E Y T I O N T G W E B E O L T D J O M J G E S N R K M O N L N R J Q S V M H T S O P D C H N Y N T J L O Z I N F I N S U R A N C E S T K O J R U Y H H T B J G G N O P K Z A Z H R D Z P M D G E R T J T U Y Z E C O N O M Y Z G E F K D
16 16 UK INSURANCE KEY FACTS Pension Reform and Savings The ABI has worked to help build confidence in contract-based pensions ahead of the introduction of auto-enrolment from October 2012 onwards. The number of work-based policies fell by 7% while individual policies grew by 2% between 2010 and Individual vs. work-based policies in force Policies in force 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2, Individual Work-based We are a strong supporter of automatic enrolment into employer workplace pension schemes. Unless they actively opt out, employees who have previously not been saving for their retirement will start to build up pension savings to help ensure they can have a dignified retirement.
17 UK INSURANCE KEY FACTS 17 The ABI has worked hard with Government to ensure that the legal requirements on employers are not overly burdensome. Our members are supporting employers with their new duties, such as through web-based tools to establish the eligibility of workers for auto-enrolment. It is critical that we help people merge their small pension pots to help them avoid having to keep track of lots of small pension savings accounts and the challenges of bringing them all together to provide an income stream in retirement. We have strongly supported the Government s work in this area. We believe the best way to help people is by allowing people to take their small pension pots with them as they move from job to job and are pleased that the Government sees this as their preferred method. The ABI has introduced a compulsory Code of Conduct from 2013 to help consumers make better retirement choices when they purchase an annuity to give them an income in retirement. 45.5% of new annuities were purchased through a different provider than the consumer s existing pension provider, in The average workplace or employer personal pension annual management charge has fallen to 0.77%. Auto-enrolment is estimated to bring up to 7 million new savers into pension saving by 2018.
18 18 UK INSURANCE KEY FACTS Financially Resilient Society Long-term policies in force, Policies in force (000 s) Whole Life Term Long Term Care Income Protection Critical Illness The ABI is working to encourage and support consumers to become financially resilient throughout their life. That is to manage their money to help them save and plan beyond the short term and to minimise the risk of serious financial problems. It is developing a framework for meeting the costs of care needs in old age that promotes demand and overcomes barriers for insurance and savings products. It is working with Government and other stakeholders to build a financially resilient society by ensuring the right balance of protection between the state, insurers and individuals. The ABI continues to work on proposals that will encourage and help people to plan ahead regarding their long term care.
19 UK INSURANCE KEY FACTS 19 Between 2007 and 2010 the number of long term care policies in force grew more than threefold from 14,000 to 45,000. Income protection policies in force saw the largest fall between 2007 and 2010, with a decline of 27%. Insurers as Investors Invested funds by asset class, % 15% 5% 7% 15% 14% 6% 10% 12% UK public sector securities (including gifts) UK ordinary stocks and shares Overseas ordinary stocks and shares Unit trusts Cash and other investments Overseas public sector securities Other UK company securities Other overseas company securities Property The insurance industry plays a positive role as a responsible longterm investor and the ABI is working to establish this clearly in the minds of all industry stakeholders. UK insurers have placed 14% of all of their invested assets into UK equities.
20 20 UK INSURANCE KEY FACTS The ABI aims to promote: The highest standards of corporate governance so that the long term value of companies is realised; Investment risk diversification opportunities; Transparent & effective capital markets. In order to achieve sustained growth, the ABI is looking to promote: Developments in law, regulation and market best practice to achieve sustained growth; Widening the availability of appropriate asset classes to match liabilities; The availability of finance for the real economy and economic growth.
21 UK INSURANCE KEY FACTS 21 D N I X V P Y M Y U Q G V T H V F M N R L K Z B P H Z P K C F V V Q S R M S P E N S I O N X J Q X T U F I P B C J G I N U J K A B S R Z D D O H Y C X E N O I S N E P E F R S X U J R E F O R M R Z Z W P O C S M Z M F L O O D I N G O L N T D T Q R S D O N U Z Y R V O O R G G U V S K V X R L A E G M D P R O T E C T I O N T N W E B E G O V E R N A N C E C N R K M O N L N R J Q S V M Y T S O P D C H N Y N T J L O I I N F I N S U R A N C E S T I O J R U Y H H T B J G G N O P K Z A Z H R D Z P M D G E R T J T U Y Z E C O N O M Y Z G E F K D
22 22 UK INSURANCE KEY FACTS Consumer Policy The ABI places improved consumer outcomes at the heart of its work. It is working to promote progress in and awareness of industry initiatives that improve experiences and outcomes for consumers using our industry s products. The ABI is identifying developments in reputation and consumer detriment risks and promoting solutions. We have taken an active role in the development and implementation of the Consumer Insurance Act The ABI has sought to build productive relationships with key industry and consumers bodies such as the Financial Services Authority (FSA) and Financial Ombudsman Service (FOS) to improve complaint handling and consistency of FOS decisions. We are also working with the Money Advice Service to support them in their work to increase consumer engagement. The ABI has made good progress in developing proposals for simple life assurance and savings products as a member of the Simple Products Steering Group. We are working towards proposals for simple income replacement products.
23 UK INSURANCE KEY FACTS 23 Conduct Regulation & Distribution How customers buy their insurance General Insurance 8% Long-term investments and protection 13% 40% 9% 31% 78% 12% 8% Brokers Company Agents Banks/Building Societies Direct Utilities/Retailers/Affinity Groups IFA/WOM Single Tie Non-intermediated The ABI is working alongside the new Financial Conduct Authority as it delivers on its strategic objective to make markets work well for consumers. We are working hard to help ensure that the Retail Distribution Review (RDR) is implemented smoothly and delivers the intended benefits for consumers. The ABI is also carrying out work based on the Insurance Mediation Directive II, which will lead to tighter regulation for loss adjustors, claims management companies and aggregators within the general insurance market.
24 24 UK INSURANCE KEY FACTS The broker channel is the dominant channel in general insurance, with 40% of business coming through it. IFAs or Whole of Market providers are the dominant channel among long-term insurance with 78% of the market. Solvency II Agreeing on capital management and risk framework for insurers across the EU single market is the most business-critical issue facing UK insurers. The ABI aims to ensure a balanced outcome delivering an updated capital model for insurers which does not damage insurers role as long term investors, or the UK s distinctive annuity market. This involves: Calibration set at a level that keeps insurance products at affordable prices. A smooth implementation that minimises the impact on consumers. A timetable and conditions for third party equivalence that maintain a viable capital treatment for European insurers US subsidiaries A workable capital framework for annuities A workable reporting framework.
25 UK INSURANCE KEY FACTS 25 D N I X V P Y M Y U Q G V T H V F M N R L K Z B P H Z P K C F V V Q S R M S P E N S I O N X J Q X T U F I P B T J G I N U J K A B S R Z D D O H Y C X E N O I S N E P E F O S X U J R E F O R M R Z Z W X O C S M Z M F L O O D I N G S L N T D T Q R S D O N U Z Y P V O O R G G U V S K V X R L Q E G M D P R O T E C T I O N T N W E B E O L T D J O M J G E C N R K M O N L N R J Q S V M Y T S O P D C H N Y N T J L O I I N F I N S U R A N C E S T I O J R U Y H H T B J G G N O P K Z A Z H R D Z P M D G E R T J T U Y Z E C O N O M Y Z G E F K D
26 26 UK INSURANCE KEY FACTS Contacts at the ABI Otto Thoresen Director General Shaun Flanagan Head of Statistics (from 28/11/2012) ABI Website Kelly O Brien Statistical Analyst Kelly.O Seth Williams Head of Public Affairs & Events ABI Statistics Helpdesk The ABI website is the primary means of communication between the ABI, its members and the wider community. It contains all the latest news, facts, figures and policy responses from the ABI. There is a dedicated area for ABI members where meeting papers, staff contact details and information can be found. Detailed statistics are free to members and accessed by others through subscription. If you are a non-member and would like access to our statistics please visit the Facts and Figures section on the ABI website where you can purchase the subscription package that best suits your needs. Everyone can access the latest responses to Government consultations, information for consumers, overview statistics and media stories.
28 For more information, contact: Association of British Insurers, 51 Gresham Street, London EC2V 7HQ
September 2013 Association of British Insurers UK Insurance Key Facts UK Insurance KEY FACTS 2013 abi.org.uk @BritishInsurers 3 Association of British Insurers UK Insurance Key Facts September 2013 About
UK INSURANCE KEY FACTS 2014 UK Insurance KEY FACTS 2014 3 @BritishInsurers Follow us on Twitter @BritishInsurers ASSOCIATION OF BRITISH INSURERS About the ABI The Association of British Insurers is the
No Hiding Place Insurance Fraud Exposed September 2012 NO HIDING PLACE INSURANCE FRAUD EXPOSED 3 Executive summary Every hour of every day 15 fraudulent insurance claims are exposed in the UK. Insurance
Key Features Your questions answered Individual Income Protection... unum.co.uk Leading the way in Income Protection unum.co.uk Important You should ensure you have a full understanding of the plan before
Age and Insurance: Helping older customers find the cover they need February 2009 AGE AND INSURANCE: HELPING OLDER CUSTOMERS FIND THE COVER THEY NEED 1 Executive Summary The insurance industry is committed
Key features of the Income Protection Plan from Standard Life This Key Features Document gives you the main points about the Income Protection Plan you re considering. It is for a UK Plan and for use by
fleetshield proposal form FOR OFFICE USE ONLY: Policy.: Authorised: Agency: Broker/Agent: Quote Ref.: premium: A full policy wording is available on request Important: It is an offence under the ROAD TRAFFIC
ABOUT OUR SERVICES AND COSTS 1. The Financial Conduct Authority (FCA) The FCA is the independent watchdog that regulates financial services. This document is designed by the FCA to be given to consumers
IRISH INSURANCE FEDERATION 10 FACTFILE Irish Insurance Federation Factfile 2010 1 Who are we? The Irish Insurance Federation (IIF) is the representative body for insurance companies in Ireland representing
Motor car insurance Policy summary This document is liable to alteration from time to time. February 2011 cancelling all previous issues. Policy Summary Type of insurance and cover This is an insurance
14cis Certificate for Introduction to Securities & Investment (Cert.ISI) Unit 1 Lesson 14: Pension funds Insurance companies Who buys government bonds? Government bonds are bought in large quantities by
Overview of UK retirement market and its evolution 11 March 2013 Julian Webb Head of UK DC & Workplace Savings This material is for investment professionals only and should not be relied upon by private
March 2013 Lifting the bonnet on car insurance - what are the real costs? Lifting the bonnet on car insurance what are the real costs? Most UK motorists have an opinion on the cost of car insurance. Many
Consumer Guide for Motor Warranties December 2011 A CONSUMER GUIDE TO MOTOR WARRANTIES 1 A CONSUMER GUIDE TO MOTOR WARRANTIES Introduction Before buying a vehicle, you will probably carry out a great deal
June 2013 MARSH INSIGHTS: OUTLOOK: PERSPECTIVES ON TOPICAL RISK AND INSURANCE ISSUES FOR UK CORPORATES Over recent months we have profiled several developments in relation to insurance claims specifically
Understanding Commercial Insurance Premiums Sustainable pricing for customers and shareholders Opening the books Risk and uncertainty are part of everyday life. There are some risks we are all prepared
The Voluntary, Community and Social Enterprise Sector - an insurance guide for individuals and organisations Contents Foreword Introduction 1. Section 1 - Insurance required by law 1.1 Employers liability
John and Deena Smith SaidSo Client Number: 3xampl3 YOUR SAIDSO FINANCIAL PLANNING REPORT ed [Pick the date] [Type the abstract of the document here. The abstract is typically a short summary of the contents
INSURANCE KEY FEATURES OF THE: Relevant Life Plan This is an important document which you should keep in a safe place. This is a guide to our Relevant Life Plan and is based on our understanding of current
MOTOR FLEET INSURANCE Summary of Cover A commercial motor insurance package available for Partnerships or Companies who require more than four vehicles to be insured under the one Policy. Why choose the
Motor Fleet Insurance Summary of Cover A commercial motor insurance package available for Partnerships or Companies who require more than four vehicles to be insured under the one Policy. Why choose the
PDI-01 THE NATURE OF INSURANCE KEY POINTS 2016 CHAPTER ONE: THE IRISH INSURANCE MARKET WHERE YOU WORK A The Irish insurance market The insurance market involves four main groups: Insurance buyers those
Chapter 4: Comparison with other arrangements This chapter outlines the compensation arrangements for consumers in some other countries in relation to their dealings with financial intermediaries. It also
Personal Finance (U21065/S21065) Lecture 3 The Economic and Regulatory Environment Protecting yourself with Insurance Introduction to Personal Finance Researching PF Products Financing a Home The Economic
WHOLE WHOLE OF OF LIFE LIFE PROTECTION PLAN KEY FEATURES Key Features of the Whole of Life Protection Plan. LIFE ASSURANCE This is an important document which you should keep safely in case you need it
April 2016 Key Features of the Schroders Investment Trust ISA The Financial Conduct Authority is the independent financial services regulator. It requires us, Schroders, to give you this important information
Motorcycle Policy Summary and Important Information This is a summary of the policy and does not contain the full terms and conditions of the cover, which can be found in the policy documentation. It is
The UK s Whiplash Epidemic The International Insurance Forum Motor Insurance: The Road Towards Profitability James Dalton, Director of General Insurance Policy Association of British Insurers 19 th April
May 2016 For professional investors and advisors only. Not suitable for retail clients. Schroder Life Flexible Retirement Fund Improving the DC journey Members in a defined contribution (DC) pension scheme
Aviva Motor Policy Summary and Important Information This is a summary of the policy and does not contain the full terms and conditions of the cover which can be found in the policy documentation. It is
MAKING SENSE OF CAR INSURANCE 1 DRIVING WITH CONFIDENCE MAKING SENSE OF CAR INSURANCE 2007 1 MAKING SENSE OF CAR INSURANCE MAKING SENSE OF CAR INSURANCE 2 WHY IT IS IMPORTANT TO HAVE INSURANCE If you cause
Motor Insurance Policy summary Policy Summary Type of insurance and cover This is an insurance for private type motor cars, dual purpose vehicles (e.g. estate cars), commercial vehicles not used for business
ITALIAN INSURANCE IN FIGURES Year 2015 The Italian insurance industry gives a significant contribution to the economy and to the society, offering a wide range of services aiming at risk protection: from
Policy Summary for Over 50s Life Insurance Plans 1. Fixed Plan 2. Increasing Plan 3. Funeral Plan This is an important document, which you should read carefully so that you understand what you are buying
STOCKS & SHARES INDIVIDUAL SAVINGS ACCOUNT Investments 2015/2016 Application Form STOCKS & SHARES INDIVIDUAL SAVINGS ACCOUNT 2015/2016 application form Please keep this page for your records The Direct
Policy document Employers Liability Contents Employers Liability 4 The cover 5 Exclusions 8 Conditions 9 Complaints procedure 10 A warm welcome to Zurich Thank you for taking out your Employers Liability
UK longevity risk transfer market implications for Asia David O Brien FSA MAAA FIA SCOR Global Life 1 Longevity 1 Global trends in longevity 2 UK Market developments 3 Applications for Asia Pacific markets
MAKING MUSIC INSURANCE SCHEME This is a policy summary only and does not contain the full terms and conditions of the policy. Full terms and conditions can be found in the policy document, a copy of which
If you have an accident call us straightaway on 0844 251 0190. For our joint protection, calls may be recorded and/or monitored. Your policy summary Your policy summary 2. Your policy summary 5. Important
Buying a pension annuity Why do I need to think about buying a pension annuity? When you come to retire, you will have some important decisions to make. Probably most important of all is how you will generate
This is an important document, which you should read carefully so that you understand what you are buying. Please keep together with your Policy Terms and Conditions, in a safe place, for future reference.
Guide to Retirement Planning 2014/15 Retirement isn t what it used to be. In many ways it is better: people are living longer and enjoying healthier and more active retirement years. On the financial side,
Private Car and Small Commercial Vehicle Policy Summary is a trading name of Sabre Insurance Company Limited. Any reference to in this document will mean Sabre Insurance Company Limited as the ultimate
Your Information i) We may send your details to credit reference agencies and/or fraud prevention agencies who will supply us with information for the purpose of verifying your identity, including information
Briefing on Legal and Justice issues relating to the Cost of Car Insurance February 2012 1 Background The Consumer Council has continued its campaign to lower the cost of car insurance in Northern Ireland
First Directory Roadside Breakdown Assistance First Directory Policy Number FD070104M Please read this policy and keep it for reference Contents Page Section A Policy Summary 2 Section B Additional Important
Your policy summary If you have an accident...call us straight away on 0844 891 5391. For our joint protection, calls may be recorded and/or monitored. Your policy summary 2. Your policy summary 5. Important
Workplace pensions reform detailed guidance Pension schemes Pension schemes under the new employer duties 4 April 2013 v4.1 1 Employer duties and defining the workforce An introduction to the new employer
Are you buying private medical insurance? Take a look at this guide before you decide 2008 2 Private medical insurance Private medical insurance 3 Contents 1. About this guide 4 2. What is private medical
EXCESS PROTECT MOTOR EXCESS INSURANCE POLICY WORDING This document sets out the terms and conditions of your cover and it is important that you read it carefully. It explains what is covered and what is
Summary of Cover iprism Office Policy About Your Policy This document provides a summary of the cover provided by the iprism Office policy. This summary is provided to you for information purposes only
Office Insurance Summary of Cover September 201 Edition An Insurance package suitable for businesses in the professional services industry for example solicitors, accountants etc. Why choose AXA s Offices
TRANSPORT SELECT COMMITTEE INQUIRY COST OF MOTOR INSURANCE: WHIPLASH Evidence from the Association of British Insurers The Association of British Insurers (ABI) is the voice of the insurance and investment
March 2012 FSA Retail Conduct Risk Outlook 2012 Summary The FSA has published its Retail Conduct Risk Outlook (RCRO) for 2012. The RCRO sets out the FSA s assessment of the 15 most significant retail conduct
Employers Liability Insurance the need for change All-Party Parliamentary Group on Occupational Safety and Health Employer liability and motor insurance There are two main types of insurance that the Government
Octagon Insurance Terms of Business About Octagon Insurance Octagon Insurance Company Limited and Octagon Insurance Services Limited are authorised and regulated by the Gibraltar Financial Services Commission,
Important information on the main features of the Threadneedle Stockmarket ISA as at 1 November 2011 Key Features of the Threadneedle Stocks and Shares (Stockmarket) Individual Savings Account (B) Please
Independent Living Insurance Policy Summary Independent Living Insurance This summary does not contain the full terms and conditions of your policy. Please refer to your policy document for the full terms
Motor Fleet Factfinder Self Drive Hire Important: The information you give on this form is relevant to our assessment of the insurance risk at new business quotation stage or on renewal. Failure to provide
QBE Trade Credit Trade Credit Insurance proposal form QBE European Operations Please read the following information carefully This document sets out the important information that you, or your insurance
Fleet Legal Guard Policy Wording What s inside... Introduction 3 What to do if you need to make a claim 4 Legal helpline 5 Claims for compensation 10 Claims for physiotherapy 12 Terms and Conditions 13
ADDITIONAL SUBMISSION FROM THE ASSOCIATION OF BRITISH INSURERS Competition Commission investigation on the market of privately funded healthcare services March 2013 The UK Insurance Industry 1.1 The UK
WITH-PROFITS GUIDE A GUIDE TO YOUR SAVINGS AND LIFE INSURANCE POLICY (WITH-PROFITS ENDOWMENT POLICIES) CONTENTS Page 1 Introduction 2 2 What is this guide for? 2 3 What is a with-profits policy? 2 4 What
Volvo Car Insurance DESIGNED WITH YOU IN MIND 7 DAYS FREE DRIVEAWAY WITH VOLVO CAR INSURANCE 60958_453131A_BRO.indd 1 2/12/08 16:45:32 60958_453131A_BRO.indd 2 2/12/08 16:45:38 7 Days Free Driveaway with
Making Sense of GAP Insurance How To Mind Your GAP Customer Fact Sheet Guaranteed Asset Protection June 2012 MAKING SENSE OF GAP INSURANCE HOW TO MIND YOUR GAP 3 What is GAP insurance? If you re thinking
GROUP INCOME PROTECTION PROACTIVE PROTECTION PROVIDED BY METLIFE POLICY technical guide This document is a guide to the features, benefits, risks and limitations of the policy, including how the policy
Insurance This is protection against something that might happen eg: a road accident, a fire, theft. Insurance is needed to reduce the financial risk when a household is faced with problems caused by damage
IMPORTANT INFORMATION This information may be downloaded to your PC in whole or in part provided that any reproduction or copy, or any derivative, is true to the original, and it is EITHER used for personal
Creating a Secondary Annuity Market: a response by the National Association of Pension Funds June 2015 www.napf.co.uk Creating a secondary annuity market: a response by the NAPF Contents Executive Summary
Residential mortgages general information Residential mortgages general information 2 Contents Who we are and what we do 2 Forms of security 2 Representative Example 2 Indication of possible further costs
Code of Practice for Tracing Employers' Liability Insurance Policies Department for Work and Pensions 04/2010 Contents Ministerial foreword...3 Statement by the insurance industry...4 Contacting the ABI,
Schroders Supplementary Information Document April 2015 Schroders are required to provide you with important information to help you decide whether our Unit Trust / OEIC Funds are right for you. You should
Key Features of the Suffolk Life SIPP (Deed Poll Scheme) This document is part of a set, all of which should be read together. Key Features Your Personal Illustration Schedule of Fees Schedule of Allowable
An innovative approach to Group Income Protection PROACTIVE PROTECTION FROM METLIFE 2 Contents Introduction 3 ProActive Protection 4 How it works 5 ProActive Interventions 6 ProActive Support 7 ProActive
Employee Accident Cover and Employee Life Cover We ve got you covered Please keep this booklet safe To fully understand your cover please read this booklet, then keep it safe in case you or your family
Druids Sheffield Key Features Saving with Life Assurance T45 We may be contacted at: Druids Sheffield Dove House, 181 Brampton Road,Wath-upon-Dearne, Rotherham, South Yorkshire S63 6BE Tel: 01709 876409
Replacement Vehicle Car Policy Express Services - Replacement Vehicle Policy Summary Express Services - Replacement Vehicle Policy Policy Summary This is a summary of available under the Express Services
Your Options at Retirement Useful information about your retirement options It s important that you read and understand this brochure as it explains: Annuities and how they work Using the Open Market Option
about our Income Protection Plan Reference XIP1/A 12.11 The Financial Services Authority is the independent financial services regulator. It requires us, Friends Life, to give you important information
Your Motor Legal Protection Insurance Policy Wording www.debenhamscarinsurance.co.uk Contents Your Motor Legal Protection Insurance Policy Wording... 3 General Exceptions... 10 2 Your Motor Legal Protection
Motor Fleet Policy Summary Motor Fleet insurance is for companies, sole traders or partnerships operating a fleet of 3 to 25 vehicles comprising of cars and commercial vehicles used for the business of
HCC International Walsingham House, 35 Seething Lane London EC3N 4AH, United Kingdom main +44 (0)20 7702 4700 facsimile +44 (0)20 7626 4820 I INSURANCE BROKERS PROPOSAL FORM PROFESSIONAL INDEMNITY IMPORTANT
TERMS AND CONDITIONS Over 50s Life Cover 1 TERMS AND CONDITIONS: OVER 50S LIFE COVER PROVIDED BY THE ROYAL LONDON MUTUAL INSURANCE SOCIETY LIMITED ( ROYAL LONDON ) This booklet contains the Terms and Conditions
PEnSIon AnnuITIES KEY FEATurES of LEGAL & GEnErAL S PEnSIon AnnuITIES. Helping you make the right decisions for your future INsuRANCe. savings. INVesTMeNT MANAGeMeNT. 01 Key features of Legal & General