Latest: Insurance News

New Atol rules protect online holiday bookings

New Atol rules protect online holiday bookings

A scheme that protects holidaymakers if their tour operator collapses has now been extended to flight-plus holidays booked online. The Air Travel Organisers’ Licensing (Atol) scheme will now protect an estimated six million holidaymakers. The scheme is designed to ensure that holidaymakers who book their holiday with an ATOL holder do not lose their money [...]

April 30, 2012 | 0 Comments More
Car insurance costs fall

Car insurance costs fall

The cost of car insurance is starting to fall according to the AA’s British Insurance Premium Index. The average ‘shoparound’ quote for comprehensive car insurance fell by 1.1 per cent to £1,132 by the end of March. The Shoparound premium is an average of the five cheapest premiums quoted by around 50 insurance providers. Over [...]

April 27, 2012 | 0 Comments More
Consumers can reclaim mis-sold PPI for free

Consumers can reclaim mis-sold PPI for free

Consumer groups are encouraging victims of PPI mis-selling to claim their money back themselves, without the help of a claims management company. An intensive ‘no win no fee’ advertising campaign is tempting many companies to turn to claims management companies to reclaim PPI. moneysavingexpert.com and Which? have now joined forces in an advertising campaign of [...]

April 19, 2012 | 0 Comments More
Which? highlights unnecessary insurance costs

Which? highlights unnecessary insurance costs

According to two separate reports by consumer champion Which?, insurance customers are facing unnecessary costs. Which? has found that 10 out of the 12 largest water companies are promoting pipe insurance from third parties such as Homeserve. This insurance costs consumers more than £100m in total and in many cases it is unnecessary Which? claims. [...]

April 18, 2012 | 0 Comments More
Insurers quicker to hike premiums after offences

Insurers quicker to hike premiums after offences

Insurance companies are becoming quicker at raising the price of motor premiums when the driver has committed an offence such as speeding or using a mobile phone, according to the AA. Insurers often used to ignore a first SP30 speeding offence, but it is now likely to result in the driver’s car insurance premiums increasing [...]

April 13, 2012 | 0 Comments More
Black box technology improves young driver safety

Black box technology improves young driver safety

The use of telematics technology to monitor the driving habits of young drivers has led to a 20 per cent fall in accidents, according to Co-operative Insurance. This could lead to a reduction in the cost of motor insurance for young drivers, which will be welcome news for many young people who are currently unable [...]

April 5, 2012 | 0 Comments More
Insurance industry to signpost services for older customers

Insurance industry to signpost services for older customers

A new initiative by the insurance industry and the UK government should make it easier for older customers to find motor and travel insurance. The Association of British Insurers (ABI) has entered into an agreement with the UK Government and the British Insurance Brokers’ Association (BIBA), requiring insurers and brokers to refer clients to another [...]

Uninsured young driver numbers halved

Uninsured young driver numbers halved

A new law allowing the Motor Insurers’ Bureau (MIB) to cross-check its database against DVLA records has led to a substantial fall in the number of young people driving without insurance. The Continuous Insurance Enforcement (CIE) law allows MIB to check which vehicles are registered with the DVLA. If a registered vehicle is not listed [...]

March 30, 2012 | 0 Comments More
Halifax life-long policy misled pet insurance customers

Halifax life-long policy misled pet insurance customers

The Halifax has been found by the Financial Ombudsman Service to have misled customers by offering life-long pet insurance. Halifax, which is part of Lloyds Banking Group, announced its decision to withdraw from the pet insurance market at the end of last year. The Ombudsman’s ruling follows a complaint by the owners of a dog [...]

March 28, 2012 | 1 Comment More
Which? criticises insurance comparison sites

Which? criticises insurance comparison sites

Consumer group Which? claims that price comparison sites may not always find the best insurance deals for consumers. More and more people are turning to price comparison sites such as GoCompare.com , Confused.com and MoneySupermarket.com to help reduce their outgoings, but a report by Which? suggests that consumers can find better deals by contacting an [...]

March 26, 2012 | 0 Comments More
ABI warns homeowners to watch out for subsidence

ABI warns homeowners to watch out for subsidence

The UK has suffered the driest 18 months since records and with the south east and east Anglia already officially in a state of drought the Association of British Insurers (ABI) is warning home owners to be aware of the risk of subsidence. Changing water levels in the ground can cause movement in the foundations [...]

March 22, 2012 | 0 Comments More
Car insurers follow Marmalade in planning ‘black box’ policies

Car insurers follow Marmalade in planning ‘black box’ policies

Research has revealed that more than 50% of drivers plan to switch to a black box insurance policy in the coming half decade. The UK’s young driver market leader Intelligent Marmalade (www.intelligentmarmalade.co.uk) is a product from the award winning young person’s car insurance provider Young Marmalade. “We have seen significant improvements in driver behavior since [...]

March 17, 2012 | 0 Comments More
Motorists unable to pay insurance excess

Motorists unable to pay insurance excess

Many motorists are increasing the voluntary excess on their motor insurance policies in order to keep the cost of the policy down, according to a study by Axa. However, if they have an accident, this can mean they are unable to afford the excess payment and are therefore unable to have their vehicle repaired. The [...]

March 13, 2012 | 0 Comments More
Banks write to customers over PPI mis-selling

Banks write to customers over PPI mis-selling

Banks are writing to millions of customers advising them that they may have been mis-sold payment protection insurance (PPI), following the release of new guidelines by the Financial Services Authority (FSA). The FSA estimates that between four million and 12 million letters will be sent out, but not everyone who has been mis-sold PPI will [...]

March 6, 2012 | 0 Comments More
Drivers switch to autopilot after 11 minutes

Drivers switch to autopilot after 11 minutes

A study by car insurance provider, Esure, has found that drivers suffer from a lapse in concentration just 11 minutes into a long journey. Esure questioned more than 1,000 motorists in the UK about their driving habits and attention span. 22 per cent of those surveyed said they fell into ‘autopilot’ easily, while 34% said [...]

March 2, 2012 | 0 Comments More
Pet insurance more important than critical illness cover?

Pet insurance more important than critical illness cover?

Insurance provider Hastings Direct is advising pet owners to take out the most comprehensive policy they can afford when their pet is under one year old. Dec Fisher, head of ancillaries at Hastings Direct warned that when people buy a new pet, they do not know what health issues they may have to face and [...]

February 23, 2012 | 0 Comments More
CPP Group fears collapse

CPP Group fears collapse

CPP Group Plc, which provides credit card and identity protection, claims that a mis-selling investigation by the Financial Services of Authority (FSA) could put it out of business. The FSA has been reviewing the firm for a year following complaints over the way it sold card protection and identity protection products. The regulator has now [...]

February 21, 2012 | 1 Comment More
Prime Minister promises action on car insurance

Prime Minister promises action on car insurance

David Cameron is attending an insurance summit at Downing Street today in an effort to tackle Britain’s reputation as “the whiplash capital of Europe”. It is estimated that claims for whiplash injury following accidents are adding £90 a year on average, to car insurance premiums, which have risen by an average of 17% over the [...]

February 14, 2012 | 0 Comments More
AA launches ‘black-box’ policy for young drivers

AA launches ‘black-box’ policy for young drivers

The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]

February 10, 2012 | 1 Comment More
ATOL scheme updated to protect online bookers

ATOL scheme updated to protect online bookers

ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]

February 9, 2012 | 0 Comments More