Latest Insurance News
The latest news from the insurance sector:
January 28, 2010
If you're unlucky enough to crash your car twice this winter you could find yourself paying double for car insurance, according to Confused.com.
Some insurers researched by the price comparison site more than trebled the cost of insurance premiums after two accidents.
Confused.com said drivers should take extra care at the moment because icy winter roads increase the likelihood of accidents.
"We're ...
Crash twice to double your car insurance premiums
by David Masters
January 19, 2010
Car insurance premiums are set to rise dramatically in 2010, Confused.com said this week. The price comparison site made the comment after Zurich announced a 20% hike to the cost of car insurance. "Zurich's announcement has not come as a surprise," said Will Thomas, Confused.com head of car insurance. "It is anticipated others will follow suit, the only question is who will be next?" Confused.com blamed the price rise on "a new breed ...
“Ambulance-chasers” blamed for car insurance price hike
by David MastersCar insurance premiums are set to rise dramatically in 2010, Confused.com said this week. The price comparison site made the comment after Zurich announced a 20% hike to the cost of car insurance. "Zurich's announcement has not come as a surprise," said Will Thomas, Confused.com head of car insurance. "It is anticipated others will follow suit, the only question is who will be next?" Confused.com blamed the price rise on "a new breed ...
January 5, 2010
HSBC has jumped on the bandwagon of January sales by launching cut-priced mortgages, savings accounts, and insurance products.
"All over the world, people are making New Year resolutions and sorting out their finances is often high on that list," said Brendan Cook, HSBC spokesperson.
"This year, we want to make it easier for our customers to keep that resolution.
"We are providing a wide range ...
HSBC announces January sale
by David Masters
December 19, 2009
Direct Line wants to put a dampener on Christmas by telling people not to leave gifts under the Christmas tree.
Peace, good will, and festive fun with the family are anathemas to the insurer, which would prefer we spent our Christmas worried about thieves.
According to Direct Line, the age-old tradition of leaving presents under the tree is an open invite to burglars.
The ...
Christmas cheer lost on Direct Line
by David Masters
December 8, 2009
The Post Office has decided to spread a bit of Christmas cheer to its home insurance customers by increasing their level of cover during December. According to the Post Office, the 10% extra cover on contents insurance means people don’t need to worry about the gifts they’re buying for friends and family getting damaged or stolen. "The last thing you want to have to worry about over Christmas is whether you have ...
Post Office increases Christmas home insurance cover
by David MastersThe Post Office has decided to spread a bit of Christmas cheer to its home insurance customers by increasing their level of cover during December. According to the Post Office, the 10% extra cover on contents insurance means people don’t need to worry about the gifts they’re buying for friends and family getting damaged or stolen. "The last thing you want to have to worry about over Christmas is whether you have ...
October 26, 2009
Kwik Fit Insurance is to embark on a major recruitment drive and is set to take headcount at its headquarters to over 1,000 by January 2010.
The company has hit the headlines for a number of reasons over the last few months after it recently won the UK Broker Awards’ Investment in People category, in recognition of its commitment to ...
Kwik Fit Insurance embarks on major recruitment drive
by Kay Murchie
Car insurance premiums to skyrocket
by David Masters
October 21, 2009
Car insurance premiums are rising faster than at any time over the past 15 years, according to the latest AA British Insurance Premium Index.
The Index, which tracks the quarterly movement of car and home insurance quotes, recorded a 5.6 per cent jump for comprehensive car insurance, over the three months ending 30th September.
This is the biggest ...
AA Index shows car insurance premiums in steep rise
by Brian Turner
October 19, 2009
Householders who are made redundant could be hit with a further blow of increased home insurance premiums, new research has found.
A study by Confused.com found homeowners could face higher insurance premiums if they are unemployed.
The price comparison site said this is because insurance firms factor in the likelihood of customers defaulting on payments when they calculate premiums.
Insurance firms also raise premiums ...
Insurers exploit unemployed with higher premiums
by David Masters
October 17, 2009
Investors opening a Virgin Money Climate Change ISA might expect their money to be invested in firms carefully screened for their ethical credentials.
In truth, however, their savings could be invested in arms manufacturers, mining firms, tobacco companies, and oil giants.
This shocking discovery was made by ethical business blogger Toby Webb.
"I had expected the fund to be investing in ...
Virgin Money’s ethical ISA invests in weapons and oil
by David Masters
October 13, 2009
HSBC Insurance is warning consumers to review their finances amid the current economic climate.
The fact remains that many have had to tighten their purse strings but HSBC Insurance is urging consumers to review their finances in order to limit the adverse impact of the economic downturn on their finances in the future.
The insurer is concerned that as finances become tight, ...
HSBC Insurance urges financial planning amid recession
by Kay Murchie
October 5, 2009
In its latest quarterly survey, the Confederation of British Industry (CBI) has reported signs of growth in the UK financial services sector, for the first time in two years.
The study, which is carried out in conjunction with PricewaterhouseCoopers, reveals that 32% of firms questioned saw business volumes rise in the three months to early September, while 24% ...
CBI reports signs of growth in UK financial services
by Gill Montia
September 26, 2009
Homeowners renting a room to a lodger should inform their home insurance provider, the Association of British Insurers (ABI) said this week.
According to the ABI, homeowners who don't inform their insurance provider about taking on a lodger risk invalidating their policy.
"If you are applying for insurance and you are taking a lodger, or if you have got a lodger, you should disclose that ...
ABI issues lodger warning
by David Masters
September 24, 2009
The Motor Insurers' Bureau (MIB) has revealed that London has the highest number of uninsured drivers after a report discovered that more than 1.7 million people drove without cover last year.
Thirteen percent of vehicles in Greater London were found to be driven illegally - the highest proportion for any region.
The Bureau, which compensates people in accidents with uninsured drivers, said ...
MIB reveals uninsured drivers report
by Kay Murchie
September 15, 2009
The price of renting a home increased 2.2% over the past six months, according to new figures released this week.
Buy-to-let advice site Property Hawk said the rise is "good news" for landlords.
However, a recent poll by Direct Line found 20% of landlords are worried about their cash flow.
A further 29% fear that banks will increase interest rates on buy-to-let loans in ...
Rents rising but Landlords want more
by David Masters
September 11, 2009
Supermarket giant Tesco is continuing its expansion into financial services by agreeing a partnership with Fortis, which will form a new motor and household insurance company.
Tesco, which has a 30% share of the grocery market, already offers credit cards, savings accounts and insurance via its Tesco Personal Finance (TPF) brand and announced plans late last year that it ...
Tesco and Fortis team up to form Insurance Partnership
by Kay Murchie
September 9, 2009
The Nottingham has announced plans to provide pensions, investments, and insurance products in its 32 branches across the East Midlands.
Branch-based financial advisers will advise customers on the best products to meet their needs.
The building society said the new products are part of its plans to expand and evolve, and will help it to counter a "personal finance black hole" in the ...
The Nottingham launches financial planning arm
by David Masters
September 8, 2009
The Post Office this week launched travel insurance for "gap year gatecrashers".
The insurance, aimed at over-65s who want to travel overseas on a regular basis, provides year-round, multi-trip cover.
The upper age limit of the cover is 74, and policyholders can choose to add optional extras including extended baggage, excess waiver, and golf cover.
Research by the Post Office found a fifth ...
Post Office launches ‘gap year gatecrasher’ insurance
by David Masters
September 3, 2009
For the first time ever, the Financial Services Authority (FSA) has published figures showing the number of complaints made to firms in the financial services industry in the 2006-2008 period.
The data has revealed an enormous increase in complaints about banking and loan products, revealing a 122% increase - from 608,620 at the beginning of the second half of 2006 to 1.3 ...
FSA reports surge in finance complaints
by Kay Murchie
August 28, 2009
Nationwide is offering a 20% discount to new home insurance customers taking out combined building and contents cover.
New customers taking out a combined policy at the building society will receive the 20% discount for 24 months.
In addition, any new home insurance customers with a Nationwide current account will receive £20 cashback if they apply for insurance over the phone or in ...
Nationwide offers 24-month home insurance discount
by David Masters
