The British Insurance Brokers’ Association (BIBA) has today revealed the renewal of the ‘Signposting Agreement’ on Age and Insurance between Government, BIBA and the Association of British Insurers (ABI).
In a Press release, the association revealed its Find Insurance Service has received over one million enquiries about car and travel insurance from older people since its launch in 2012. Under the terms of the agreement, if an insurer or broker cannot offer cover to an older motorist or traveller due to their age, they will refer them to a provider who can meet their needs, or to a dedicated signposting service such as the BIBA-operated Find-Insurance Service.
Commenting on the renewal, BIBA CEO Graeme Trudgill said: “This agreement is a great example of the industry working together for the good of customers. BIBA is delighted to continue with it in conjunction with Government and the ABI following eleven successful years.
“It is increasingly important as our population ages and the number of older people travelling overseas has increased rapidly post-COVID, that people get all the support they need to find the right insurance protection.”
ABI director general Hannah Gurga highlighted that the initiative is vital to helping customers access competitively priced insurance that offers peace of mind. She added that it's good to see the agreement renewed between the Government, BIBA and the ABI, and to see the positive impact it has had on helping older customers continue to be covered for driving and travelling.
Andrew Griffith MP, economic secretary to the Treasury added: “We all need insurance to continue doing the things we love – whether that’s travelling to see the world or driving to see friends and family. That’s why it’s so important that tools like the Age Agreement are in place to help find older customers appropriate cover”.
The BIBA-operated Find-Insurance Service can be reached by telephone on 0370 950 1790 or via www.biba.org.uk/find-insurance.
