ABI comments on ‘loyalty penalty’ issue

In a recent speech, the Director General of the ABI noted that, amid the current government and regulatory focus on this issue, member firms have committed to a set of Guiding Principles and Action Points for GI Pricing.  He also mentioned that next year the ABI will publish a report in the impact of these Principles and Action Points.

The ABE accordingly resist any proposition that all insurers should adopt identical approaches or curtail the benefits of customers shopping around.