UK motor insurance premiums increase yet again
The AA insurance has today commented upon the state of the UK motor insurance market with a suggestion that the average comprehensive motor insurance policy is now costing in excess of £1000 a year. This is an increase of around 20% on the 2008 figure and is predominantly because of fraudulent claims and the damage caused by uninsured drivers in the UK.
All in all it is believed that UK motorists will face an additional £2.1 billion in insurance costs this year alone purely and simply because of these fraudulent claims and uninsured drivers. Despite the fact that the recession is still impacting upon many people around the UK, and indeed some people are considering downgrading or even cancelling their car insurance, the cost of insuring your vehicle continues to climb higher and higher.
In what is certain to become something of a vicious circle, a 20% increase in motor insurance premiums will almost certainly see more people taking the risk of driving uninsured which will yet again feed into the cost of insurance premiums in the future. Quite why perfectly legal and insured drivers have to pick up the bill for those who have decided not to take out insurance, which is illegal, continues to remain a mystery to many in the UK.
Doorstep Lenders On The Prowl
As a follow up to an article we issued some time ago about doorstep lenders it seems as though business is very brisk in this area and growing strongly. For those not aware of the so called doorstep loan companies, these are financial companies which may cold call you offering loans - often to people who may have credit difficulties and live in run down areas - at rates well in advance of the hi...Read More
Adams falls into administration again
Children's wear chain Adams has been placed into administration after a difficult period in the company's history, putting more than 2000 jobs at risk. Restructuring experts MCR and Gerald Edelman have been appointed as joint administrators to the company's US parent JS Childrenswear. This is the third time the company has been placed into administration in as many years and a buyer is being sough...Read More
Popular stock market terms explained (part 2)
This is part two of the summary of City terms :-
This is the name given to the main American equity stock market and is the index which you will see mentioned on all of the news bulletins and in the financial press. Again, like the FTSE100 it is an index of the largest companies in the US.
A share is basically a part of a...
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Why are UK banks so risk averse at the moment?
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