Insurance News
Don’t Hesitate When Making An Insurance Claim
More and more people are complaining to the Financial Ombudsman regarding claims on their insurance policies. There appears to be some confusion about what exactly is covered in a policy and how a claim should be made.
According to the Daily Mail, here are some tips to help ensure your insurance claim goes smoothly:
Car Insurance Claims
Immediately [...]
Fortis UK Insurance Division Not To Be Sold
In spite of Fortis taking on a similar fate to UK and US banks, they are not planning on selling their UK insurance division despite pledging to sell some of its other assets as part of the bailout deal.
Fortis said the group’s partial nationalisation had not affected its UK division and told their clients not [...]
Wealth Of Average Brit Means Easy Target For Muggers
According to Zurich Insurance the ‘walking wealth’ of the UK has reached a massive £44 billion making Britons an easy, and lucrative, target for muggers. In its “Walking Wealth Survey” Zurich shows that the average Brit will carry around £972 worth of personal items every time they go out in public.
This is an increase of [...]
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 [...]
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 [...]
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 [...]
Tax Burden Pushing Away Major Insurers
The UK’s corporate tax regime is causing several large insurance companies to consider moving outside the country, according to the Daily Mail.
Two of the more recognised brands, the Prudential and RSA Insurance are among the many making the exodus to lower-taxed countries such as Germany and Ireland. HSBC is also considering a move.
British companies earning [...]
AIG Puts 90-Day Delay On UK Money Withdrawal
As U.S. Insurance giant AIG managed to stay afloat with last minute bailout funds, their UK customers are being told they must wait at least 90 days before they can withdraw their money.
AIG is trying to reassure their customers not to panic as investors have already begun to withdraw their investments, according to This is [...]
