Only 20% to 40% of UK low-income renters take up contents insurance, according to HM Treasury and the Financial Conduct Authority (FCA). The government has said it will introduce a new system for housing benefit in England by 2020.
Only 20% to 40% of UK low-income renters take up contents insurance, according to HM Treasury and the Financial Conduct Authority (FCA). The bodies have addressed the issue by hosting innovation workshops with participation from insurtechs like Aventus Platform/Homelyfe, Bought By Many, Brolly, Slice and Urban Jungle, as well as representative groups and insurers such as the Association of British Insurers, Aon and Aviva.