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 [...]
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 [...]
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 [...]
The average cost of car insurance is now £1,034, breaking the £1,000 barrier for the first time, according to the AA British insurance premium index. Motor insurance is now 8.5 per cent higher than it was a year ago and has doubled in price over four years. In July 2008 the average fully comprehensive policy [...]
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 [...]
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 [...]
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 [...]
Gender directive could slash men’s annuity payouts
The EU Gender Directive, which came into force today, could see men losing up to £10,000 from their annuity payouts, according to research by PricewaterhouseCoopers. Under the new rules insurers are no longer allowed to take gender into account when setting annuity rates and premiums on insurance products. Men previously enjoyed higher annuity rates than [...]
Home rental costs down in November
The cost of renting a house in England and Wales fell by 0.4 per cent in November, its first dip since March, according to a survey by LSL Property Services. Average rent was £741m during the month, returning to the level seen in September. However, it was 3.4 per higher than in November last year. [...]
Lloyds TSB halts sale of packaged accounts in branches
Lloyds TSB will stop selling packaged account in its branches from 1 January 2013, until its sales procedures are brought into line with those operated by sister bank The Halifax. Lloyds TSB is one of the main providers of packaged accounts in Britain, with around one in three of its customers choosing to pay fees [...]
Housing market recovery to continue next year
Recent improvements in the housing market should continue into next year, according to the Council of Mortgage Lenders (CML) Gross lending is estimated to have increased to £12.9 billion in November, helped by the Funding for Lending scheme which provides banks and building societies with lower-cost funding, which they are then supposed to pass on [...]
Newcastle Building Society exits interest-only mortgages
Newcastle Building Society has stopped offering interest-only mortgages to new borrowers, following the lead of the Royal Bank of Scotland, Nationwide, Co-operative bank and Coventry Building Society. The decision will not affect existing Newcastle customers and applications for interest-only mortgages received before 14 December will still be processed. Prior to the credit crunch, interest-only mortgages [...]
Less than half of Brits considered creditworthy
Fifty-seven per cent of UK adults are at risk of having an application for credit turned down by a mainstream lender according to a new report. The ‘Mind the Credit Gap‘ report commissioned by aqua credit cards suggests that even people with a good credit rating and earning more than £50,000 could have a credit [...]
Monthly incomes £22 lower in 2012
The average monthly income of UK households fell by £22 in real terms compared with last year, according to a survey carried out for the Bank of England (BoE) by NMG Consulting. People on lower incomes have seen their income eroded more than higher earners and households still have high levels of debt the BoE [...]
Savers dig deep to fund Christmas
New research from the Halifax suggests that savers are funding their Christmas spending with money set aside for other purposes. Thirty-seven per cent of 2,138 savers surveyed by the bank at the end of November had withdrawn savings in the last three months. The average amount withdrawn was £1,186, more than double the average savings [...]
Financial data at risk from unsafe passwords
According to a survey by the Payments Council the problem of having to remember a different password for several accounts means that many internet users are compromising the security of their financial data. Internet users have 22 password-protected accounts on average and many use the same log-in details for more than one account, even though [...]
Wonga launches Paylater loans on retailer website
Payday loan company Wonga has launched a new Paylater service on furniture firm Cotswold Company’s website. The service, which allows customers to “buy now, pay later” will be introduced on other retailers’ sites in the near future. Although the Paylater branding is similar to Wonga’s, the Wonga name only appears in the small print. A [...]
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