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.
'Packaged account holders are often losing money'
Packaged accounts frequently offer worse value for money to savers than those which provide free banking, a price comparison site has claimed. Under the terms offered by packaged account providers, savers pay a monthly fee which typically entitles them to a higher rate of interest on their money as well as benefits such as free travel insurance and gifts. However, according to Sean Gardiner, chief...Read More
BT pension fund setback
BT, the UK telecoms giant, was today informed by the telecoms regulator that there is no obvious reason why the company should be allowed to increase wholesale charges in order to help plug the gap in the company's pension scheme. The company had hoped that the regulator would look favourably upon the request to increase wholesale charges which would have helped to pay down the £9 billion pension...Read More
Who is making money in these markets?
While there have been changes to the short selling rules around the world there are still some stocks which can be legally shorted and these seem to be where people are making most money at the moment. There are also some brave investors buying on bounces and taking short term profits but this is a very dangerous way to invest, especially with money which may not be available longer term.
HBOS management receive alternative offer
After days of speculation it appears that finally we may be about to see some action on the HBOS and Lloyds TSB merger. Two highly respected Scottish bankers have written to the HBOS chairman and chief executive asking for them to resign and allow them to replace the leadership of the group. Sir Peter and Sir Anderson George Matheson, both former executives in the banking industry believe that the...Read More
Should The Rich Pay More Tax?
This is an age old debate and one which seems to appear on the front pages from time to time, but is it actually fair to expect the richer people of society to pay a higher rate of tax? Does it actually incentivise people to better themselves or does it contribute to the brain drain?
While there is no right or wrong answer to the above question, opinions are generally divided down t...