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.
Fixed Rate Mortgages Increased Yet Again
As the doom and gloom in the property sector continues to build up it has been announced that the cost of fixed rate mortgages has risen yet again. While it is something which the big banks have managed to keep out of the popular press, Chase De Vere has released a research note which shows that at least 14 mortgage providers have increased the cost of their fixed rate mortgages over the last two...Read More
Devastating floods could cost insurance industry over £100 million
The devastating floods in Cumbria and South Scotland could cost the UK insurance industry in excess of £100 million although this figure could rise significantly because the flooding has yet to subside. We have literally seen homes washed away in the flood water, vehicles left battered on the road site and indeed we have seen the unfortunate sight of casualties and fatalities during the floods....Read More
GDP figures indicate recovery could take some time
GDP figures released for the UK economy today show a 0.8% fall in the second quarter of 2009 which is significantly higher than the 0.3% contraction expected by analysts. While the fall is less than the 2.4% in the first quarter of 2009 it does bring the annual decline to a massive 5.6% and underlines the fact that the UK economy is in crisis.
Despite the fact that the UK government...
George Osborne believes the UK is on the road to ruin
George Osborne has stepped forward today to suggest that the UK economy is on the road to ruin without significant spending cuts in the short to medium term. This comes just days before his first budget, which many believe will be the most important budget in recent UK history, and amid signs of voter and MP unrest in relation to some of the proposals mentioned. So is George Osborne right to be so...Read More
Part of Northern Rock to be sold in 2009
In a move which is effectively "robbing Peter to pay Paul" the UK government is looking at plans to sell off parts of the Northern Rock to raise around £2 billion for the budget coffers. Despite the fact that literally billions upon billions of pounds are still owed by Northern Rock, to the UK taxpayer, the UK government is desperate to raise as much funding as possible in the short to medium ter...Read More