UK insurance ‘Signposting Agreement’ renewed

The Agreement on Age and Insurance between the UK Government, the British Insurance Brokers’ Association (BIBA) and the Association of British Insurers (ABI) has been renewed today (29 August 2023).

This ‘Signposting Agreement’ continues to help older people find the essential travel or car cover they need. It was originally made in 2012 and was subsequently reviewed in 2015 and 2019.

The Agreement means that if an insurer or insurance broker is unable to offer cover to an older motorist or traveller because of their age, they will refer the customer to a provider who can meet their needs, or to a dedicated signposting service. BIBA offers its Find Insurance Service, which can be reached by telephone or online.

The online service uses a search function to point people to a suitable member broker, while the contact centre will triage callers seeking insurance and puts them through to a broker that is most likely to be able to help.

So far, one million enquiries about car and travel insurance from older people have been made to BIBA’s Find Insurance Service since the launch of the agreement.

Graeme Trudgill, Chief Executive at BIBA 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 11 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.”

Hannah Gurga, ABI Director General, added: “Our industry wants all customers to be able to access competitively priced insurance that provides vital peace of mind, and this initiative is helping to deliver that. It’s good to see the agreement renewed between the Government, BIBA and ourselves and the positive impact it’s had in helping many older customers to continue to be covered for driving and travelling.”