British insurance body tackles non-insurance
The Association of British Insurers (ABI) has stepped up the fight against non-insurance by joining with brokers and insurers to develop and promote low-cost contents insurance schemes.
The ABI has joined general insurer Aviva and broker Aon to work with local authorities and housing associations in London to develop tenants’ insurance schemes.
The initiative is intended to assist 750,000 residents of the British capital living in local authority or social housing, where insurance penetration is low despite a higher risk of burglary and arson.
“Overall, London residents are least likely to have contents cover than anywhere else in the UK, with four in 10 people uninsured and unprotected,” the ABI said in a statement. It says the campaign will help landlords provide cover to “vulnerable” residents.
An ABI survey earlier this month found 22% of UK residents have not renewed their contents insurance cover this year due to the economic downturn, while 17% have cancelled building cover.
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