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".
Barclays Decides To Shore Up Balance Sheet
News that Barclays Bank has sold off its life insurance portfolio to Swiss Re for £753 million will be welcomed by shareholders as a further strengthening of the group's core financial ratios and balance sheet. Unlike Royal Bank of Scotland (RBS), which is currently struggling to sell off its insurance division for any where near the original £7 billion price tag, Barclays has completed the muc...Read More
Banks launch new campaign against fraud
14/10/2014 UK banks have launched a new campaign to help consumers protect themselves from fraudsters. The British Bankers Association (BBA) has warned that millions of customers are still vulnerable to fraud, both online and over the phone. The campaign, called “Know Fraud, No Fraud” has been created with help from the police and highlights the eight things that banks will never ask an...Read More
Employment market showing signs of recovery
The UK employment market is showing signs of recovery according to a report from The Recruitment and Employment Confederation and KPMG. The hourly rate of pay for temporary and contract staff has increased at its fastest rate for two years amid signs that the private sector at least is starting to move in the right direction. While this is obviously a positive sign for the UK as a whole there are...Read More
Redemptions halted in Norwich Union property fund
In what many believe will be a trend for 2009, Norwich Union has today halted redemptions of units in its property fund. A wave of pessimistic news reports and media comment would appear to have spooked many investors and the company has halted redemptions in the short to medium term. This means that over 225,000 investors in the Norwich union property fund, which has assets of £2.9 billion, will...Read More
Don't go off piste when it comes to insurance
As many as one in four Brits will hit the slopes without the right travel insurance this year, according to esure.One in four people (27 per cent) were found to be labouring under the misconception that winter sports were always included as standard - even though this is rarely the case - and many people may unknowingly be skiing without the cover they need, leaving themselves open to any medical...Read More