Latest: Insurance News

Brits ‘careless’ about insuring mobile phones

Brits ‘careless’ about insuring mobile phones

Virgin Media says it’s ‘time to shake up the market’ over mobile phone insurance because many people are failing to insurance handsets that can be worth up to £500. A study by the communications firm into consumers’ perceptions of mobile insurance, found that 72 per cent of the 1,000 consumers surveyed had not insured their […]

June 18, 2012 More
Flooding could lead to higher insurance premiums

Flooding could lead to higher insurance premiums

Floods currently affecting Wales and south east England could be following by a rise in the price of home insurance premiums, according to analysts. The heavy rainfall could cause some insurance companies to miss their profitability targets, and there is more rain on the way according to the Met Office, with flood warnings in place […]

June 15, 2012 More
Price of car insurance rising for women

Price of car insurance rising for women

The price of car insurance for women is expected to rise in December, when a new EU directive comes into force, but it seems that some insurance companies are already increasing their charges for female customers. The latest data from comparison site Tiger.co.uk shows that the average price of a policy for a male driver […]

June 12, 2012 More
Guide to whiplash claim culture

Guide to whiplash claim culture

Russell Thomson is an injury claims lawyer working at The Injury Lawyers, who explains that while whiplash is a clear and serious issue, the whole subject of whiplash claims has become badly distorted through insurance companies selling customer details for referral fees.   Like Tony Blair and his “Education, Education, Education” speech at the start […]

June 4, 2012 More
Whiplash compensation driven by insurance companies

Whiplash compensation driven by insurance companies

Russell Thomson explains how insurance companies are driving whiplash compensation claims in a bid to chase referral fees. More from the whiplash claims website: Whiplash Claims.   Whiplash claims, whiplash compensation, whiplash injuries – or Whiplash Cash, Whiplash Epidemic, and “the weakest necks in Britain” as the press often title it; whiplash has not escaped […]

Competition Commission to investigate car insurance market

Competition Commission to investigate car insurance market

Concerns over “dysfunctional” business practices have led the Office of Fair Trading (OFT) to refer the private motor insurance market to the Competition Commission. A report by the OFT suggests that artificially high charges could be causing car insurance premiums to increase unnecessarily. The problem centres around the referral fees which car hire and repair […]

May 31, 2012 More
Homeserve faces mis-selling investigation

Homeserve faces mis-selling investigation

HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete […]

May 23, 2012 More
Home insurance may not cover empty properties

Home insurance may not cover empty properties

Housing charity Empty Homes has highlighted a clause in many insurance policies which could leave homes uninsured if they are left unoccupied. It is estimated that there are 930,000 empty properties in the UK and while their owners may think they are covered by insurance, this clause could mean that many are actually uninsured The […]

May 15, 2012 More
PPI compensation could produce tax windfall

PPI compensation could produce tax windfall

People who have received compensation after being mis-sold payment protection insurance (PPI) must pay tax on any additional interest on their payout. It is believed that many victims of PPI mis-selling could be underpaying tax. PPI was routinely sold alongside loans and mortgages in order to cover borrowers’ repayments if a change in circumstances meant […]

May 11, 2012 More
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 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 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 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 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 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 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 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 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 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 More