Site Map You are here: Home > Bike insurance news > Oct 08 > Insurance sector resists economic downturn
Insurance sector resists economic downturn
The insurance sector remains stable despite the increasingly precarious economic climate, the Association of British Insurers (ABI) has confirmed.
In good news for new and existing motorbike insurance customers, the industry supervisor outlined its determination to provide enhanced protection for policyholders.
Despite fears that the recent monetary crisis might affect the industry, director general of the ABI Stephen Haddrill insisted that it would work around several key principles to deal with the situation.
He expressed his belief that "the maintenance and strengthening" of those principles would be "the best basis for protecting policyholders on an ongoing basis", and insisted that the insurance sector was in a strong position to cope with the crisis.
Mr Haddrill was commenting after the International Association of Insurance Supervisors (IAIS) gathered in Budapest to discuss the latest factors influencing the industry.
The news follows last week's announcement by the Motor Cycle Industry Association (MCI) that bike sales are also resisting the economic downturn, with a drop in September sales of less than half that recorded by the UK car industry.
According to the ABI, the UK insurance industry accounts for 11 per cent of all global premium income, making it the second largest across the world.
Previous articles
New motorbike test 'progresses'
Honda CBR600RR wins seventh consecutive world title
Norton back in the UK
Bookmark with:
What are bookmarks?
Bike Insurance News
01/09/10 - Motorcyclist guide to best B&Bs available on eBay. Motorcycle insurance customers considering taking a staycation in Britain can now consult their very own guide to the best bike-friendly bed and breakfast accommodations in the country.
01/09/10 - Bank holiday weekend bike shows round-up. Motor vehicle fans in the south of England got a chance to see motorbike displays and trials at one of the UK's biggest airshows over the bank holiday weekend.
01/09/10 - BMW S1000RR reaches almost 200mph. Motorbike enthusiasts have managed to ride a BMW S1000RR to just under 200 miles per hour (mph) by using a £22 gadget and gaffer tape.
