The Association of British Insurers has published two new guides for insurance and pension firms supporting people affected by economic and domestic abuse. The guidance was developed with Surviving Economic Abuse and the Employers’ Initiative on Domestic Abuse.
The guides were launched in Parliament and focus separately on customers and employees. They set out practical steps firms can take to identify abuse, support disclosure and reduce opportunities for perpetrators to exploit financial products or workplace processes.
The initiative forms part of the insurance industry’s work on vulnerable customers and the UK Government’s Financial Inclusion Strategy. ABI said its members are also seeking to go beyond minimum regulatory requirements when dealing with customers affected by abuse.
The first publication, A guide to supporting customers experiencing economic abuse, was developed with Surviving Economic Abuse. It is intended to help firms recognise economic abuse and design customer journeys, communications and controls around the risks faced by victims.
Economic abuse is a form of domestic abuse involving control over another person’s access to money, assets or financial services. Examples include redirecting an insurance claim payment to the perpetrator or forcing someone to withdraw money from a pension.
Surviving Economic Abuse estimates that one in six women in the UK has experienced economic abuse from a current or former partner.
The guide combines regulatory expectations with industry experience and practical recommendations for firms handling these situations. It also addresses how companies can provide safer ways for customers to disclose abuse. Firms are encouraged to examine whether existing processes or controls could inadvertently give perpetrators access to information or funds.
The second publication focuses on employees affected by domestic abuse. Developed with the Employers’ Initiative on Domestic Abuse, it provides examples of how employers can create safer workplace arrangements and train managers to respond appropriately.
The guide also covers referral pathways to specialist organisations. Its aim is to give employees clearer access to support while helping managers handle disclosures without creating additional risk.
The ABI said employers can respond through measures such as staff training and defined referral procedures. Workplace policies can also give employees more confidence that disclosures will be handled appropriately.
Office for National Statistics data cited by the ABI shows that 12.5 mn adults have experienced domestic abuse since the age of 16. Separate research estimates that domestic abuse costs businesses in England about £17 bn annually.
Feeling safe and in control of your own life is something everyone should be able to expect. The two guides are intended to help insurance and pension firms recognise signs of abuse and improve support for affected customers and employees.
ABI Director General Hannah Gurga
The guidance gives firms separate frameworks for customer-facing and workforce-related cases. Both publications focus on practical procedures for identifying abuse, responding to disclosures and connecting people with appropriate support.
