Latest: Insurance News

Car insurance prices falling

Car insurance prices falling

The cost of car insurance fell by 6.6 per cent this month, compared with a year ago, according to Tiger Watch, the car insurance price monitor produced by Tiger.co.uk. Compared with November, prices increased by 0.4 per cent, but across a three month period, prices have fallen to a two-year low. Competition between insurance providers […]

December 14, 2012 More
Government acts to curb whiplash epidemic

Government acts to curb whiplash epidemic

Medical panels could be introduced to assess car drivers and passengers making an insurance claim for a whiplash injury following an accident. The number of personal injury claims relating to road accidents has soared by 60 per cent since 2006, despite a 20 per cent fall in road traffic accidents and the government is to […]

December 11, 2012 More
Insurers warn householders to keep Christmas gifts secure

Insurers warn householders to keep Christmas gifts secure

With UK households expected to spend around £8.5 billion on Christmas presents this year, according to a survey by Tesco Bank, insurers are warning consumers to keep their gifts secure. The Association of British Insurers (ABI) says that insurers received £35m of claims for the 23,000 burglaries which took place in December last year. Shoppers […]

December 10, 2012 More
Home owners urged to make winter property checks

Home owners urged to make winter property checks

With a severe winter forecast, insurers are urging home owners to carry out checks on their properties. Insurer Paymentshield estimates that only 45 per cent of home owners in Central England plan to check that their homes are ready to face the winter weather, while Northern Ireland homeowners are more prepared, with 75 per cent […]

December 7, 2012 More
One in seven couples never discuss their finances

One in seven couples never discuss their finances

Insurance and financial services firm Prudential has found that 14 per cent of couples over the age of 40 never discuss their finances with their partner. In a study carried out by Vision Critical for Prudential, 15 per cent of the 2,000 people surveyed said they feel uncomfortable discussing financial planning with their partners. Many […]

December 6, 2012 More
200,000 homes could be left without flood insurance

200,000 homes could be left without flood insurance

With flood warnings in place across the whole of England, the Association Of British Insurers (ABI) has warned that 200,000 homes could soon be left without insurance. The ABI claims that it has reached crisis point in its talks with the government over replacing an agreement which ensure that households in area at high-risk of […]

November 26, 2012 More
Crash for Cash fraudsters adding £400m to premiums

Crash for Cash fraudsters adding £400m to premiums

The growing problem of ‘Crash for Cash’ schemes is highlighted in a new report by the Insurance Fraud Bureau (IFB). This type of fraud, in which organised gangs deliberately cause traffic accidents in order to make fraudulent insurance claims, is costing UK policyholders around £400 million every year. The IFB is working with the police […]

November 24, 2012 More
Parents concerned over EU motor insurance rules

Parents concerned over EU motor insurance rules

Many parents are concerned they will no longer be able to afford to insure their child’s car when new European gender equality rules come into force next month. Thirty-two per cent of the 1,000 parents surveyed by insurer Aviva said they might have to stop their payments as a result of the ruling. From 21 […]

November 21, 2012 More
CPP fined by FSA for insurance mis-selling

CPP fined by FSA for insurance mis-selling

Card insurer CPP faces the joint-largest mis-selling fine ever imposed by watchdog the Financial Services Authority after it was found to have mis-sold insurance products. As well as the £10.5m fine, the group expects to pay out £14.5m in compensation to both private individuals and businesses who were mis-sold products. The FSA found that CPP’s […]

November 15, 2012 More
Paper motor insurance certificates could be scrapped

Paper motor insurance certificates could be scrapped

As part of the government’s Red Tape Challenge, the Department for Transport may end the requirement for drivers to keep a copy of their motor insurance certificate. An eight-week consultation is underway to consider the proposal, which would reduce costs for insurance companies and ultimately motorists if the cost savings are passed on. Many insurance […]

November 14, 2012 More
Hackers attack insurance comparison site

Hackers attack insurance comparison site

Technology website The Register has revealed a security flaw affecting motor insurance aggregator Google Compare, which allows cyber criminals to steal personal details. A vulnerability in the SSP software used by the broker website allowed the data to be harvested by editing a motor insurance proposal form. Google has now suspended its connections with the […]

November 9, 2012 More
Bonfire Night worst day for burglaries warns Aviva

Bonfire Night worst day for burglaries warns Aviva

Insurance group Aviva is warning households to be vigilant over security at this time of the year, as burglaries tend to increase signficantly between Halloween and Bonfire Night. On Bonfire Night the number of burglaries increases by around 25 per cent compared with an average day, according to the company’s research. Aviva also reported a […]

October 31, 2012 More
Dental insurance could increase patients’ bills

Dental insurance could increase patients’ bills

Dental treatment is expensive, prompting many people to take out insurance to ensure they aren’t faced with a large, unexpected bill. However, research carried out by consumer group Which? suggests that this may be a false economy as dental insurance could actually end up costing patients more. The organisation tested dental insurance policies and dental […]

October 24, 2012 More
AA reports fall in cost of car insurance

AA reports fall in cost of car insurance

The cost of car insurance premiums fell in the third quarter according to the AA British Insurance Premium Index, after rising steadily for several years and flattening out in early 2012. The cost of policies purchased directly from an insurance firm fell by 2.9 per cent in the third quarter but was still nearly 6 […]

October 23, 2012 More
Accident numbers fall but whiplash claims still rise

Accident numbers fall but whiplash claims still rise

The number of claims for compensation for a whiplash injury sustained in a motor accident has continued to increase despite a fall in accident numbers, the Institute and Faculty of Actuaries has revealed. The Institute reported a 20 per cent drop in the number of injuries reported to the police in accidents between 2006 and […]

October 15, 2012 More
Insurers call for one-year minimum L-plates

Insurers call for one-year minimum L-plates

With an 18-year-old driver three times more likely than a 48-year-old to be involved in an accident, the Association of British Insurers (ABI) says restrictions should be placed on new drivers in order to save lives. The ABI is calling for a number of changes to the way youngsters learn to drive in the UK, […]

October 4, 2012 More
Car insurance market to be scrutinised

Car insurance market to be scrutinised

The high cost of car insurance premiums has prompted an investigation into the market amid concerns that it is dysfunctional and not working well for motorists. The Office of Fair Trading (OFT) has referred the private motor insurance market to the Competition Commission because if believes that the way the market is structured is pushing […]

September 28, 2012 More
Car insurance prices fall 11%

Car insurance prices fall 11%

The average cost of car insurance premiums has fallen by nearly 11 per cent, according to research by price comparison website MoneySupermarket. Premiums have been rising for some time but increased competition among insurers and the use of price comparison sites, has finally helped prices to fall across the UK. Motorists in Cleveland and Harrogate […]

September 24, 2012 More
Insurers advise home owners on flood preparations

Insurers advise home owners on flood preparations

With sixty-five areas of England on flood alert, the Association of British Insurers is warning home owners to keep insurance documents and emergency contact details in a safe, dry place. Contacts for gas, water and electricity providers should also be kept safe. The organisation is advising people to check their gardens, as winds of up […]

Doctors call for action on bogus whiplash claims

Doctors call for action on bogus whiplash claims

Around nine out of ten doctors want the government to clamp down on bogus whiplash claims made by motorists, according to research by insurance group AXA. Seven per cent of the doctors polled by AXA had been offered money to refer patients with whiplash injuries. Twenty-two per cent of the doctors said the number of […]

September 20, 2012 More