Owner: Insurance Grabber URL:http://www.insurancegrabber.co.uk Join Date: Wed, 13 Aug 2008 11:57:41 -0500 Rating:0 Site Description: Insurance Grabber provides current news and information about the insurance industry in the UK Site statistics:Click here
British Workers Unnecessarily Pay For Life Insurance 2008-08-13 08:56:21 Out of 1,300 UK employees surveyed by AON, a global leader in risk management, 77% said they weren’t provided with life insurance by their employers, or if they were, they weren’t aware of the benefits of such policy, according to the FT Adviser.
Aon goes on to say that nearly 40% of UK workers are indeed [...] Read more:British
, Workers
Travel Insurance Companies Fear Bogus Claims 2008-08-13 06:30:53 Let’s face it, the credit crunch, credit crisis, recession, whatever you want to call it, is hurting most peoples’ pockets. Only a year ago credit was very easy to obtain and people went about their way merrily spending, enjoying fun-filled holidays, the works.
Even though it’s been almost a year of realising the economy is suffering, [...] Read more:Bogus
, Companies
, Travel
, Travel Insurance
Car Insurance Premiums Hit New Heights 2008-08-13 05:55:54 Car insurance premiums are rising to record levels, says the Telegraph.co.uk. If consumers weren’t being hit enough with rising costs in fuel, food, and electricity, now the average price of car insurance peaks over the £500 a year mark. These figures are reported by Sainsbury’s Car Insurance
.
Young drivers are not the only group experiencing these [...] Read more:Heights
Big Profits For Fortis Insurance UK 2008-08-11 07:23:26 Fortis Insurance UK reported a whopping £43.3 million pre-tax profit in spite of difficult market conditions. They did reveal a very small decrease (2%) in overall Gross Written Premiums to £375.3 million however this was mainly due to a “disciplined pricing strategy”.
First half expansion included Fortis launching life business, legal expense cover for customers as [...]
Kwik Fit Insurance Win Top Award 2008-08-11 06:01:12 Kwik Fit car insurance company wins award and recognition for “excellence, business improvement, dynamism and flexibility in the UK insurance sector”, according to a pr release by the insurer.
The Training Award
is a landmark for the company helping to establish Kwik Fit as an industry leader and respectable provider in the competitive car insurance industry. [...]
Britons Choosing The Frugal Route 2008-08-10 19:55:44 Credit-crunched Britons
are pulling purse strings and changing the way they spend. Halifax Home Insurance conducted a survey revealing that over two thirds questioned are making a conscious effort to save money as they head toward an uncertain economic horizon.
Is this all that bad? Prior to the current credit crisis borrowing money was almost as [...] Read more:Frugal
Royal Bank of Scotland Loses Big 2008-08-10 19:31:18 RBS, one of the UK’s largest banks and owner of Ulster Bank and First Active reported a loss of nearly £700 million in the first half of this year, compared to £5.1 billion in profits the same time last year.
The massive shortfall is the largest since the bank went public 40 years ago and the [...] Read more:Royal
, Scotland
Credit Cruch Continues Squeeze On Tenants 2008-08-08 20:18:35 According to insurer AXA, a new report reveals an increase in private tenants missing rental payments could hurt landlords ability to pay their own creditors. The research was provided by YouGov on Axa’s behalf and reveals the potential problems buy to let landlords could be facing as the credit crunch continues its squeeze.
Many landlords are [...] Read more:Squeeze
, Tenants
Insurance Companies Fear Teenage Drivers 2008-08-08 19:52:43 Many parents are scared to death of sitting in the passenger seat while their bright-eyed teen sets forth on the swervy path to learning to drive. The sad reality is that in the UK drivers under 25 years old account for a quarter of the drivers killed on the road.
Norwich Union found that young driver [...] Read more:Companies
, Drivers
, Insurance Companies
Barclays Life Insurance Portfolio Sold To Swiss RE 2008-08-07 10:39:53 In an effort to add buoyancy to their balance sheet, Barclays
Bank sells their life insurance portfolio to Swiss
RE, the world’s biggest reinsurer for a cool £753 million. Although Swiss RE has suffered from recent writedowns, they have decided to go ahead with the purchase.
In this day of asset shuffling, Barclays should see a [...] Read more:Portfolio
Churchill Insurance Ad Misleading? Ohhhh, yes! 2008-08-20 10:45:13 Most UK residents are familiar with the Churchill
Insurance bulldog answering “Ohhh, yes” to questions such as “making a claim without the need of filling in any forms?”.
Also known as the Challenge Churchill TV campaign, the arguably lovable bulldog could be silenced after a viewer did exactly that, challenge Churchill Insurance on the issue of [...] Read more:Misleading
Muslim Car Insurance Policies Align With Islamic Law 2008-08-20 07:03:17 For the first time Muslim
drivers are offered car insurance policies that adhere to the teachings of the Koran, according to the Daily Mail.
Unlike the majority of non-Islamic
insurers, Salaam Halal Insurance complies with Islamic law by avoiding investments associated with gambling, alcohol, pork, etc.
While still offering the same kind of cover as traditional insurers, [...] Read more:Align
, Policies
Tips On Cutting Costs Of Car Insurance 2008-08-18 07:24:24 Let’s face it, the credit crunch seems to be getting worse and there’s no real sign of improvement any time soon. It’s like we’re on a forced diet, only it’s to tighten our economic waistline for a fitter, healthier financial future.
Below you’ll find listed, in no particular order, ways that should help you reduce your [...] Read more:Car Insurance
, Costs
, Cutting
Unusual Car Insurance Claims Being Reported 2008-08-18 06:45:01 Just when insurers thought they’d heard it all, come new and unusual car insurance claims. Elephant car insurance has revealed an unusual set of claims ranging from nude pedestrians jumping on top of their car to filling up a tank with shampoo instead of petrol.
The car insurer went on to reveal other odd claims like [...]
RBS May Save Insurance Division 2008-08-18 06:17:30 The Royal Bank of Scotland may decide not to sell its insurance division, which includes popular name brands in the UK such as Direct Line Insurance and Churchill Insurance.
RBS was looking to raise capital quickly by selling the 2 major insurance companies for the tune of £7 billion. However, the recent sale of risky loans [...] Read more:Division
Lehman Collapse Ripples Across Pond To UK 2008-09-17 07:54:52 As with most U.S. financial troubles in the past 12 months, the Lehman
Brothers collapes too has spread to the UK with thousands of jobs already lost.
Some of Britains biggest companies were shaken as worry spread across the capital’s financial district. Volatile trading ensued as the market headed for a 2nd day of losses during [...] Read more:Across
AIG Bailed Out By The Fed 2008-09-17 07:43:02 The once formidable U.S. insurance giant AIG was rescued by a massive $85 billion emergency fund for nearly an 80% equity stake, says the Daily Mail.
AIG’s near collapse comes at the heels of Lehman Brothers demise as the credit crunch continues its toll on major finance related companies. Unfortunately for Lehman, U.S. authorities denied bailing [...]
Payment Protection Insurance Still Controversial 2008-09-16 00:59:01 Despite heavy fines levied against lenders in the recent past, the Financial Ombudsman Service continues to receive hundreds of complaints per week over the highly questionable insurance, says the Times Online.
PPI is typically sold as a form of protection on financial products such as personal loans, mortgages, and credit cards in the event the borrower [...] Read more:Controversial
, Payment
, Protection
Wallstreet Shaken As Lehman Collapses 2008-09-15 16:52:40 The collapse of Lehman
Brothers lead to a Dow Jones fall of 500 points - the worst one-day loss in over 6 years, reported the Times Online. With Lehman crumbling into bankruptcy, AIG’s prospects looked dim were it not for a $20bn bailout.
Following the Dow’s plunge S & P’s 500 Index also fell by 58.74 [...] Read more:Shaken
Don’t Hesitate When Making An Insurance Claim 2008-10-02 08:32:51 More and more people are complaining to the Financial Ombudsman regarding claims on their insurance policies. There appears to be some confusion about what exactly is covered in a policy and how a claim should be made.
According to the Daily Mail, here are some tips to help ensure your insurance claim goes smoothly:
Car Insurance Claims
Immediately [...]
Lack Of UK Indemnity Insurance Puts Patients At Risk 2008-10-02 08:17:25 According to the UK’s leading medical defence organisation, the UK is one of the last countries in the EU to carry on with an outdated system of indemnifying doctors. As a result, current policies could lead to a higher and unnecessary risk to patients being uncompensated in the event of clinical negligence.
In the majority of [...]
Fortis UK Insurance Division Not To Be Sold 2008-10-02 08:01:28 In spite of Fortis taking on a similar fate to UK and US banks, they are not planning on selling their UK insurance division despite pledging to sell some of its other assets as part of the bailout deal.
Fortis said the group’s partial nationalisation had not affected its UK division and told their clients not [...] Read more:Division
Wealth Of Average Brit Means Easy Target For Muggers 2008-09-30 03:52:27 According to Zurich Insurance the ‘walking wealth’ of the UK has reached a massive £44 billion making Britons an easy, and lucrative, target for muggers. In its “Walking Wealth
Survey” Zurich shows that the average Brit will carry around £972 worth of personal items every time they go out in public.
This is an increase of [...] Read more:Average
, Means
, Target
Exit Penalties Free Up Pensions 2008-09-30 03:44:15 Millions of people who have pensions tied up in life insurance funds will breath a sigh of relief as they will be given control over their investments.
What has been hailed as a “pension revolution”, according to Times Online, will mean that up to £350 million in protected-rights pensions will be allowed to move to self-invested [...]
Fortis Could Be Eurozone’s First Major Credit Crunch Victim 2008-09-30 03:40:36 Financial group Fortis looks to be headed toward the same fate as many US and UK insurance and banking giants in the past two weeks. The Belgian-Dutch banking and insurance business may be sold to ABN AMRO Dutch banking subsidiary.
The Belgian government will guarantee all retail deposits says a leading minister. Belgian law stipulates only [...] Read more:Credit Crunch
, Crunch
, First
, Major
Car Sharing – Are You Annoying? 2008-09-26 09:31:36 Carrying on from our other article on car sharing, the question is asked, “are you annoying” when it comes to sharing a car ride to work, to the pub, or wherever you may go when car sharing.
For the most part, people sharing a ride is an effective way to save money on petrol, lower emissions, [...] Read more:Annoying
, Sharing
High Petrol Prices Ignites Car Sharing Trend 2008-09-26 09:26:24 Recent research by the AA Insurance says Britons are heading becoming a car sharing nation due to the high cost of petrol prices.
Figures show almost half the population that was surveyed are considering car sharing yet only about 11%, or 1 in 10, admitted to actually sharing the drive.
As petrol prices continue to add pressure [...] Read more:Petrol
, Prices
, Sharing
AA Reports Latest Road Casualty Figures 2008-09-26 09:21:44 A recent report by AA car insurance said that one third of fatal road accidents last year were caused by loss of vehicle control and temperament, asking drivers to pay more attention to the road.
For example, crashes among young drivers, in particular males, could mostly be attributed to driving speeds and behaviour behind the wheel. [...] Read more:Casualty
, Figures
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