ABI report highlights commercial insurance role in UK economic growth

A new report from the Association of British Insurers (ABI) titled ‘The Value of Commercial Insurance: Enabling growth, innovation, and resilience’ highlights the sector's role in supporting the United Kingdom's economy. The report asserts that commercial insurance is vital for managing risks, protecting jobs, and unlocking investment across various sectors.

Key findings include the industry's contribution to major infrastructure projects, the transition to net zero, and the protection of iconic landmarks such as Tower Bridge and National Trust properties. The report also notes the sector's involvement in sustainability projects in Teesside and Liverpool Bay.

The ABI has issued recommendations to the government and regulators to better utilize the expertise of commercial insurers. This includes engaging insurers earlier in the development of major infrastructure projects to enhance risk management and creating a proportionate, internationally competitive regulatory environment.