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".
US authorities concerned about AIG deal
It has been revealed that the US government, which effectively took over control of AIG after the company nearly collapsed, has been working on secret plans to hive off the company's Asian operations amid concerns that the acquisition by Prudential could falter. US authorities have been in talks with investors in the Far East about a potential sale of the Asian operation with the company desperate...Read More
Orange and T-Mobile to raise Pay-Monthly Prices
Orange and T-Mobile will raise the prices of pay-monthly tariffs from April 2013, in a move which will affect an estimated 5.5 million existing customers. The average increase is expected to be 79p, or as a spokesperson for Everything Everywhere (EE), the company who owns Orange T-Mobile, put it, “about the cost of a can of baked beans”. New customers however will get the chance to avoi...Read More
Pension Fund Deficits Are Rising
Those who saw the headline results from BT may have missed a small but telling comment towards the end which confirmed that the company's pension scheme had slipped into deficit and needs topped up. This could be the start of a season of shocks on the pension fund front with more and more companies struggling to keep up with funding requirements after disappointing investment returns. So what is...Read More
British Gas Profits rise 14pc
British Gas has reported a rise in profits of 14pc throughout 2012. It is though the company benefited from colder weather which saw consumers use more energy, as well as significant growth in the company’s oil and power generation business. Total profits for the year stood at a massive £2.74bn, while the British Gas residential energy supply arm, which raised prices for consumers in Octobe...Read More
Are European authorities fire fighting with no definitive strategy?
As we see the number of European banks hitting trouble increase day by day there is a concern in investment markets that the European authorities are just fire fighting each event as it happens and not putting in place long term strategies which will pick up the whole sector. Is this the right course of action or should they be taking a wider look at the situation?
It is very easy...