Drivers lie over claims to insurance companies
Millions of British motorists would lie to insurance providers to avoid jeopardising their claim, a new survey suggests.The study by Moneysupermarket found that 2.5 million drivers in the UK would bend the truth to ensure they received a payout.When asked what they would do if they had failed to lock their car properly leading to it being stolen, 26 per cent of motorists said they would resist telling the truth until their conscience caught up with them.Only 18 per cent of motorists said they would give the full facts without being pressed, while 41 per cent would own up to their carelessness if asked. "It's extremely worrying that one in three drivers would actively attempt a cover-up if their carelessness led to a claim," Richard Mason, managing director of insurance at moneysupermarket, said."People may not see the omission of certain facts as fraud, but if these facts helped lead to the claim then thatÃ¢â‚¬â„¢s exactly what it is. "We would urge all drivers to tell the full truth; insurance fraud is a criminal offence and the overall consequences could be far more costly than the sums they are trying to salvage by being economical with the truth."Insurers are often seen as the bad guys, but there are two sides to any relationship and drivers need to own up to their mistakes," he added.It seems that the Welsh are most honest when it comes to revealing the truth, with a quarter saying they would have no problems admitting the true sequence of events.
G20 leaders make banking bonuses their main target
Today saw the beginning of the G20 summit where all leaders present appear to have agreed a way forward to contain and control banking remuneration packages in the future. Despite the fact that there are so many other issues to consider, none greater than the worldwide economy, it seems that G20 leaders are still looking to grab the headlines as they have done in each and every G20 summit.
Record demand for £4 billion government bond issue
Despite the fact there is great concern over the UK budget deficit, which is now forecast to hit £175 billion, a £4 billion government bond issue was nearly 3 times oversubscribed today. At a time when investors in the UK stock market are concerned about the immediate future of the UK economy and the ever-growing national debt, it seems rather strange that today's bond issue has proven to be so...Read More
Bank collapse compensation changes set for 2011
The UK government and the Financial Services Authority (FSA) have today announced that various new regulations regarding bank collapses will come into play on 31 December 2010. This will see savers compensated within a seven-day period, if their bank collapses, and also afford protection to those who have loans with the same organisation.
This is all within the EU deposit guarantee...
Who leaked potential takeover talk at International Power?
The Financial Services Authority (FSA) is said to be investigating sharp "unexplained" movements in share price of International Power after a period of speculation during which the name of GDF Suez has been mentioned as a potential bidder for the company. Despite the fact that the companies announced the "end of talks" yesterday there is concern as to how initial talks were leaked to the market a...Read More
FTSE 100 sees 10th consecutive daily rise
Even though news on the GDP front was disappointing to say the least the UK stock market today racked up its 10th consecutive daily rise although there was a small bout of profit taking towards the end. Having risen above the 4600 level at one point the market ended the day at 4576.6 for a rise of 4.3% over the week. Why is the market so strong, when economic figures suggest the economy is struggl...Read More