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".
Is the British Airways Qantas merger on the rocks already?
A number of remarks attributed to the man in control of Australian airline Qantas has thrown into doubt the merger with UK giant British Airways which had only been flagged some days ago. Not only are their significant regulatory hurdles to clear for the £3.5 billion merger, which also includes Iberia, but the merger appears to be falling apart at the seams already. Internal bickering and concern...Read More
Is Europe falling apart?
Just a few days ago the main powerhouses behind the EU met to discuss a joint effort to bolster the European economy and pull the EU from the brink of financial collapse. They all shook hands, posed for the pictures and promised they would do nothing until the next time they met. Then......just 24 hours later the German government issued the bombshell that they were going to look after their sav...Read More
How do you define excessive fees?
As the ongoing bank charges debacle continues we have today seen the emergence of a possible similar type of situation in the letting agency market. A judgement today, which ruled that excessive fees charged by many letting agencies across the UK can be reclaimed over a 14 year period, has caused many consumers in the UK to consider how you define excessive fees.
While many believe...
UK Economy avoids triple-dip Recession
The UK economy avoided what would have been devastating news today, as first quarter growth of 0.3pc was reported, and a triple-dip recession avoided. A recession is confirmed when the economy experiences two consecutive periods of decline, and after a final quarter of 2012 growth figure of -0.3pc, any further decline would have officially seen the economy back in recession. The growth figur...Read More
Irish economy appears to be in freefall
The Irish economy appears to be in freefall today with the central bank suggesting there will be a fall of 6% in Ireland's gross domestic product this year, which is a whole two percentage points greater than forecasts only a few weeks ago. However, more alarmingly the 6% reduction is also under review and may well be increased in the weeks and months ahead. After a period of substantial growth wh...Read More