Insurance News
Lehman Collapse Ripples Across Pond To UK
As with most U.S. financial troubles in the past 12 months, the Lehman Brothers collapes too has spread to the UK with thousands of jobs already lost.
Some of Britains biggest companies were shaken as worry spread across the capital’s financial district. Volatile trading ensued as the market headed for a 2nd day of losses during [...]
AIG Bailed Out By The Fed
The once formidable U.S. insurance giant AIG was rescued by a massive $85 billion emergency fund for nearly an 80% equity stake, says the Daily Mail.
AIG’s near collapse comes at the heels of Lehman Brothers demise as the credit crunch continues its toll on major finance related companies. Unfortunately for Lehman, U.S. authorities denied bailing [...]
Payment Protection Insurance Still Controversial
Despite heavy fines levied against lenders in the recent past, the Financial Ombudsman Service continues to receive hundreds of complaints per week over the highly questionable insurance, says the Times Online.
PPI is typically sold as a form of protection on financial products such as personal loans, mortgages, and credit cards in the event the borrower [...]
Wallstreet Shaken As Lehman Collapses
The collapse of Lehman Brothers lead to a Dow Jones fall of 500 points - the worst one-day loss in over 6 years, reported the Times Online. With Lehman crumbling into bankruptcy, AIG’s prospects looked dim were it not for a $20bn bailout.
Following the Dow’s plunge S & P’s 500 Index also fell by 58.74 [...]
Investors Warned Not To Invest In AIG
A recommendation by Goldman Sachs to avoid investing in AIG (American International Group) came on the heels of an 8% share drop yesterday according to Reuters UK.
Analyst Thomas Cholnoky said, “the intricacies of AIG’s business are so complex that management may not even know the extent of the company’s ultimate exposures, let alone losses”. He [...]
Churchill Insurance Ad Misleading? Ohhhh, yes!
Most UK residents are familiar with the Churchill Insurance bulldog answering “Ohhh, yes” to questions such as “making a claim without the need of filling in any forms?”.
Also known as the Challenge Churchill TV campaign, the arguably lovable bulldog could be silenced after a viewer did exactly that, challenge Churchill Insurance on the issue of [...]
Muslim Car Insurance Policies Align With Islamic Law
For the first time Muslim drivers are offered car insurance policies that adhere to the teachings of the Koran, according to the Daily Mail.
Unlike the majority of non-Islamic insurers, Salaam Halal Insurance complies with Islamic law by avoiding investments associated with gambling, alcohol, pork, etc.
While still offering the same kind of cover as traditional insurers, [...]
Tips On Cutting Costs Of Car Insurance
Let’s face it, the credit crunch seems to be getting worse and there’s no real sign of improvement any time soon. It’s like we’re on a forced diet, only it’s to tighten our economic waistline for a fitter, healthier financial future.
Below you’ll find listed, in no particular order, ways that should help you reduce your [...]
Unusual Car Insurance Claims Being Reported
Just when insurers thought they’d heard it all, come new and unusual car insurance claims. Elephant car insurance has revealed an unusual set of claims ranging from nude pedestrians jumping on top of their car to filling up a tank with shampoo instead of petrol.
The car insurer went on to reveal other odd claims like [...]
RBS May Save Insurance Division
The Royal Bank of Scotland may decide not to sell its insurance division, which includes popular name brands in the UK such as Direct Line Insurance and Churchill Insurance.
RBS was looking to raise capital quickly by selling the 2 major insurance companies for the tune of £7 billion. However, the recent sale of risky loans [...]
