Every week, starting this week we will be publishing and sharing with our readers a comprehensive, alphabetical run-down on all the different terms used in the wonderful world of insurance and what they mean.
For our first week, we have chosen – ABI.
ABI: Acronym for the Association of British Insurers, a regulatory body for the UK insurance industry. The ABI (Association of British Insurers) represents the collective interests of the UK’s insurance industry.
The Association speaks out on issues of common interest; helps to inform and participate in debates on public policy issues; and also acts as an advocate for high standards of customer service in the insurance industry.
The Association has around 400 companies in membership. Between them, they provide 94% of domestic insurance services sold in the UK. ABI member companies account for almost 20 per cent of investments in the London stock market.