Over a third of fatal accidents on Britain’s roads are caused by road rage, according to new research. The study by AXA insurance found 800 lives are lost every year through road accidents caused by angry drivers. More than one in three (35%) serious road accidents involve at least one angry driver. AXA estimates the [...]
Young drivers in the UK are less likely to make an insurance claim than their European counterparts, according to a new study. Research by AXA found that British motorists aged under 25 are 30% less likely to make a claim than young drivers in Spain or France, and 25% less likely than those in Germany. [...]
Clydesdale Bank has launched a new one-year fixed-rate bond paying interest at 4.5%. The bond is exclusively available to customers also taking out an AXA investment product with the bank. Savers must invest at least £2,000 in the bond, and the equivalent in an AXA investment product. No withdrawals can be made from the bond. [...]
Young people are put off starting a pension because they associate the word with old age, research by AXA has discovered. One in five 18-24 year olds said they haven’t yet started a pension because they don’t like the word. The wider population also expressed a dislike to the word pension, with around a fifth [...]
Four in five independent financial advisers (IFAs) believe people are not saving enough towards their retirement, a new poll has discovered. Research by AXA Winterthur found 79% of IFAs believe people are not saving enough for retirement. Meanwhile, 21% said their clients do not fully understand the risks and possible rewards of investment. Responding to [...]
Insurance giant Axa has announced plans to cut 350 jobs despite a 2% rise in its UK profits. The insurer said the jobs are being axed to streamline costs and ensure it emerges “fitter and stronger” from the recession. Redundancies will be made at Axa Insurance UK’s life business unit, which has offices across the [...]
AXA Travel Insurance is to offer travel insurance to passengers of low-cost airline Ryanair following an agreement between the two companies. Under the terms of the deal, starting September 2010, AXA will offer Ryanair’s 67 million passengers single-trip, multi-trip and annual travel insurance policies on ryanair.com. Michael Cawley of Ryanair said the partnership with AXA [...]
DIY disasters will cause a spike in home insurance claims over the Easter weekend, AXA warned yesterday. The home insurance provider said DIY accidents will peak on Saturday morning, with spilled paint as the prime suspect. Paint spillages in past years have accounted for 40% of Easter accidents. Other Easter mishaps include accidental holes in [...]
Insurance company, AXA, is predicting that Middle Britain will be hardest hit by the downturn in the housing market, in terms of property values. Middle Britain is not necessarily Middle Class and according to AXA’s Financial Task Force only 20% of all UK households fall into the category. The insurer recently defined the term as [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
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 [...]
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 [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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