Devastating floods could cost insurance industry over £100 million
The devastating floods in Cumbria and South Scotland could cost the UK insurance industry in excess of £100 million although this figure could rise significantly because the flooding has yet to subside. We have literally seen homes washed away in the flood water, vehicles left battered on the road site and indeed we have seen the unfortunate sight of casualties and fatalities during the floods.
The UK government is now looking to put together an emergency package to ensure that those affected by the torrential rain in Cumbria and the South of Scotland are provided for as soon as possible. These particular rainfall numbers have been described as "biblical proportions" and events which are unlikely to be seen for the next thousand years. However, for those who have seen their livelihoods, their homes and their businesses washed down the river this will be little consolation in these most difficult of times.
No doubt we will also find out how many households in Cumbria and the South of Scotland were under insured which will no doubt result in the emergence of various battles for compensation. This only goes to show that home insurance is a vital element of any household budget and even though it may be tempting to reduce your insurance cover, or indeed suspend it in these difficult economic times, it is in many ways a false economy.
Hedge funds not mercenaries
Hedge funds do not deserve their mercenary reputations, the Hedge Funds Review said today.Although an expert in the field said admitted that hedge funds were certainly guilty of acting out of self-interest, he maintained that their influence was no more detrimental to their investments than that of other investors. Hedge funds have come under the press spotlight recently with rumours that the Dutc...Read More
What will be the spark to reignite the UK economy?
As the UK economy continues to toil and the UK business sector is starved of any significant investment capital, many are looking around to see exactly what could be the spark to reignite the UK economy. Will it be interest rates? Will it be a change of strategy by the banks? Or will it be as simple as improved confidence?
While confidence is the key to any significant increase in r...
Lloyds Bank fails to agree toxic asset insurance deal
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Why does it take an election to cut public-sector investment?
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UK house prices rise by 0.2% in April
The average UK house priced increased by 0.2% in April leading to a rise of 8.5% over the last 12 months. However, on a regional basis there are major variations on the 8.5% annual increase and not every housing market in the UK is experiencing increased demand! The report by the Land Registry shows that Brighton and Hove has the highest year on year increase of 16.8%, Bristol is next on 15.9%...Read More