Author Archive
Exit Penalties Free Up Pensions
Millions of people who have pensions tied up in life insurance funds will breath a sigh of relief as they will be given control over their investments.
What has been hailed as a “pension revolution”, according to Times Online, will mean that up to £350 million in protected-rights pensions will be allowed to move to self-invested [...]
Fortis Could Be Eurozone’s First Major Credit Crunch Victim
Financial group Fortis looks to be headed toward the same fate as many US and UK insurance and banking giants in the past two weeks. The Belgian-Dutch banking and insurance business may be sold to ABN AMRO Dutch banking subsidiary.
The Belgian government will guarantee all retail deposits says a leading minister. Belgian law stipulates only [...]
Car Sharing – Are You Annoying?
Carrying on from our other article on car sharing, the question is asked, “are you annoying” when it comes to sharing a car ride to work, to the pub, or wherever you may go when car sharing.
For the most part, people sharing a ride is an effective way to save money on petrol, lower emissions, [...]
High Petrol Prices Ignites Car Sharing Trend
Recent research by the AA Insurance says Britons are heading becoming a car sharing nation due to the high cost of petrol prices.
Figures show almost half the population that was surveyed are considering car sharing yet only about 11%, or 1 in 10, admitted to actually sharing the drive.
As petrol prices continue to add pressure [...]
AA Reports Latest Road Casualty Figures
A recent report by AA car insurance said that one third of fatal road accidents last year were caused by loss of vehicle control and temperament, asking drivers to pay more attention to the road.
For example, crashes among young drivers, in particular males, could mostly be attributed to driving speeds and behaviour behind the wheel. [...]
Washington Mutual Taken Over By JPMorgan
Washington Mutual collapses under the continued onslaught of economic pressures in the largest US bank failure in history.
JPMorgan Chase took over the failed savings and loan giant for a $1.9 billion deal announced by the US FDIC on Thursday. Washington Mutual, also known as WaMu, was the latest bank to fail due to heavy exposure [...]
FSA Fines Hastings Direct For Error
Hastings Direct, one of the UK’s largest car insurance companies, was fined a massive £735,000 after cancelling 4,550 policies when the insurer discovered the customers had been under-priced, according to the Telegraph.co.uk.
Last summer, between July and September, several customers were inadvertently offered lower premiums due to a software error. In some cases, customers saved as [...]
Fronting Non-Insured Drivers Could Cost Companies
According to a report by Norwich Union, managing directors and company owners are finding their insurance policies invalidated due to “fronting”. An example of fronting is when a businesses uses their policy to insure people not directly associated with the company, such as a teenage child.
A technical manager at Norwich Union, Mike Smith, said: “From [...]
Summer School Holidays See Home Insurance Claims Rise
Insurance claims usually go up when the little ones are on their summer holidays. Families are making claims for more than £500 as a result of accidental damage related to children getting into mischief, says the Guardian.co.uk
Typical claims include drinks being spilt on furniture and carpets, damage to electrical equipment and other personal belongings, as [...]
American Insurer AIG Says UK Division Steady
AIG, the troubled US insurance giant that only last week was saved from collapse by the Federal Reserve, says UK operations are “back to usual”, according to BusinessInsurance.com.
AIG UK Ltd has broadened its PrivateEdge D&O product including special programmes for private companies, partnerships, not-for-profit organisations, an other groups. AIG is eager to put last weeks [...]
