AXA rewards safe motorists
Financial giant AXA has revealed a new car insurance policy which will see those with eight or more years no claims bonus receiving a 90% discount on their premiums. This compares to the average discount of 65% on a maximum five-year no claims bonus and will obviously further benefit the vast majority of drivers in the UK who do not claim on their car insurance.
This comes at a time when the AA has confirmed that UK car insurance premiums will rise by between 10% and 15% in 2010 with the majority of the increase caused by uninsured drivers causing accidents on the road. It would appear that slowly but surely we are seeing a polarisation between safe drivers and dangerous (and uninsured drivers) with many other insurance companies certain to follow the lead set by AXA.
Car insurance premiums have been on an upward spiral for many years now with the cost of covering uninsured drivers taken on by the industry and then spread out amongst insured motorists. Whether or not this is a fair allocation of the added expense associated with uninsured drivers is debatable but it is a trend which began some time ago and has ultimately led to a massive increase in car insurance premiums for "no apparent reason".
Hedge fund investors share spoils from Dana Petroleum takeover
It is estimated that hedge fund investors will today be sharing out an estimated £80 million profit, after the £1.7 billion takeover of oil group Dana Petroleum. It is believed that arbitrage investors, i.e. hedge fund investors, committed around £450 million to buy shares in the company after the announcement the group was in takeover talks. In what is becoming something of a self fulfilling p...Read More
VAT cut today in bid for sales boost
The sales tax VAT has been brought down temporarily from today, in order to boost retail sales.Alistair Darling, chancellor of the exchequer, announced the move last week, as part of his economic stimulus package.Public works projects will be expanded and future tax rises to the corporation levy and vehicle excise duty have been scrapped.VAT has now gone from 17.5 per cent to 15 per cent until Jan...Read More
UK population set to grow by 10 million
It has been revealed that the UK population is set to grow by 10 million to a massive 70 million in the short term after a significant increase in immigration. When you also take into account the fact that the population is also older than ever before with a 30% increase in those of pensionable age, totalling 15.6 million people, it's easy to see potential future problems for the UK state benefits...Read More
Deutsche bank strikes deal with BMW UK pension scheme
In what many believe will become a major sector in the pensions industry Deutsche bank has announced a deal to take on the longevity risks of nearly £3 billion connected to the BMW UK scheme. This is the largest deal of its kind to date and will see BMW transfer the risk that scheme members live longer than expected and the increased costs associated with this. Using complicated insurance and...Read More
Working from home is not as easy as you think!
As the Internet continues to play a major part in the lives of the vast majority of the UK public we are seeing a gradual increase in the number of people working for themselves from home. The ability to create websites which will have access to markets around the world is proving a major attraction for many and even more so in this current climate of economic distress. However, there are various...Read More