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".
The IMF warns the UK to pay down debt
Over the last few months we have seen a significant parting of the ways between the International Monetary Fund (IMF) and the UK government. Even though an IMF statement just a few days ago suggested that the UK government was getting to grips with the economy and the UK was better placed than many to recover, a report produced after a staff mission to Britain in May has cast further doubt on the...Read More
Aviva setback as further legal challenges materialise
Insurance giant Aviva has received a setback in its three-year battle to pay out orphan funds to shareholders, policyholders and the company itself. The original £1 billion offer from a £4.2 billion fund has since been reduced to £500 million after the fund in question fell in value to just over £1 billion. However, last week saw what many believe was the final ruling in this ongoing saga but...Read More
Uninsured homeowners risk 'a huge blow' to their finances
Homeowners have been urged to ensure they have adequate home insurance cover, in the wake of a study indicating that storm-related insurance claims are set to increase by over a third in coming years. The German study predicted that should Britain continue to suffer from the high winds and heavy downpours seen last summer, storm related losses are set to increase by 37 per cent. Last year, the tot...Read More
Interest rate rise could hit vulnerable
24/07/2014 A small increase in interest rates could leave over a million households facing debt problems, according to a report by the Resolution Foundation. The Resolution Foundation, who campaign on behalf of those on low and middle incomes in order to improve living standards found that around 600,000 households in the UK are already facing ‘debt peril’. However, this could increase...Read More
UK corporate insolvencies approaching crisis point
News at 4001 companies went bust in the UK in the third quarter of 2008 are starting to cause real concern among financial experts. The main worry is the fact that this type of news will see banks and other investment groups pull in their horns and demand greater guarantees and covenants for future financial assistance.
In many ways this is turning out to be a self fulfilling prophe...