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.
Northern Rock finance boss banned by FSA
David Jones, the former Northern Rock finance director, has today been banned by the FSA from performing any function in relation to any regulatory activity in the UK. This comes after he was found guilty of misreporting mortgage arrears going back as far as 2007. It is believed that a number of repossessions were left out of the 2006 report and accounts which effectively gave the wrong impression...Read More
Asil Nadir returns to the UK
Asil Nadir, the controversial businessman and fugitive tycoon, is today expected to return to the UK to face 66 counts of theft totalling an alleged £34 million in relation to the collapse of his former company Polly Peck. After the company collapsed back in 1993 he fled the country on board a private jet and has since been living in Turkish Cyprus which has no extradition treaty with the UK....Read More
How much do you need to retire?
A report by MGM Advantage claims that the average couple in the UK will require £600,000 to be able to enjoy 20 years of retirement. While there is a large variation in the cost between the South and the North of England, with London couples said to require £194,602 more than their northern counterparts, it will come as a shock to many in the UK. The report also suggests that the cost of livi...Read More
Commons committee stokes up the pay-as-you-go motoring scheme again
Despite a move to introduce pay as you drive motoring being shot down in flames by UK motorists only 2 years ago it looks as though this particular policy may well be back on the agenda. Citing the fact that motorists no longer believe the government when it introduces tax rises for motorists in the name of "the green revolution" there is a push to put pay as you drive motoring back on the agenda....Read More
Can you control your own budget?
In these very difficult economic times it is vital that we all learn to control our budgets better and cut out waste where possible. While 90% of the UK public may believe they have control of their budgets if we are totally honest the vast majority of us waste money on a regular basis, money which can prove vital in these difficult times.
However, in no way shape or form should lux...