Young drivers could become 'uninsurable'
Young drivers could be priced out of the insurance market if action is not taken to reduce the number of deaths and injuries caused by motorists aged under-25, one insurer has warned.Speaking following the release of a new education pack aimed at teaching school pupils about the impact of dangerous driving, Co-operative Insurance (CIS) warned that such drivers were responsible for causing 35 deaths and serious injuries each day, with premiums for youngsters subsequently rising as a result.According to the insurer, the cost of insuring young motorists has jumped by 22 per cent over the past three years, compared to just two per cent for all other drivers.CIS director of general insurance, David Neave, stressed that if the trend continued, a "whole generation" of drivers could become uninsurable."If this trend continues many young car owners will be unable to afford insurance and that will inevitably lead to a rise in the number of uninsured motorists on the roads and that would have major consequences for us all," he warned."The impact of serious road traffic crashes not only affects people's lives but also has a considerable affect on future premium levels," Mr Neave added, stressing that the industry had a "duty" to take action in order improve safety and to make insurance premiums more affordable for young, inexperienced drivers.CIS, which has teamed up with the road safety charity Brake to launch an education pack based on its earlier DVD, Too Young to Die, said that the new resource would help teachers run lessons for 15 to 21-year-olds, encouraging them to act responsibly on the roads.The initiative follows last month's call by the Association of British Insurers (ABI) for learner drivers to be given a minimum one-year 'learning period' before gaining their license in order to cut the number of road deaths.Giving evidence to parliament's transport select committee, ABI director of general insurance Nick Starling also argued that young, newly-qualified drivers should be subject to limits in regard to the number of passengers they are allowed to carry.
HBOS customers reassured over rumours
Consumers who bank with HBOS have nothing to fear from market rumours that the bank is set to collapse, a price comparison site has said. The rumours are believed to have been initially circulated by City traders attempting to profit from the resulting drop in the lender's share prices. According to Kevin Mountford, head of savings at price comparison site moneysupermarket.com, talk of an HBOS is...Read More
Hedge funds not mercenaries
Hedge funds do not deserve their mercenary reputations, the Hedge Funds Review said today.Although an expert in the field said admitted that hedge funds were certainly guilty of acting out of self-interest, he maintained that their influence was no more detrimental to their investments than that of other investors. Hedge funds have come under the press spotlight recently with rumours that the Dutc...Read More
Kerry Katona Is Declared Bankrupt
While the life of so called reality TV star Kerry Katona has been anything but boring, news that she has today been declared bankrupt could have a long term detrimental affect on her ability to revive her fortunes. The long running bankruptcy hearing has been adjourned four times but today was the day when the sands of time ran out and HMRC rubber stamped her bankruptcy over an unpaid tax bill.
Will A Property Stamp Duty Freeze Really Help?
News that Alistair Darling is in the process of reviewing a possible freeze in housing stamp duty has received a very good response in the press, but will it really make a massive difference?
For those unaware of the stamp duty bands you will pay 0% on a home worth up to £125,000, 1% on a property between £125,000 and £250,000, 3% between £250,000 and £500,000 and 4% for a pro...
OneStop shoppers to receive offers via app
04/09/2014 Customers are able to have personalised discount offers sent directly to their smartphone whenever they enter a OneStop store from this week. These offers are tailored to each individuals preferences based on their internet shopping history. The first promotion is for discounts on the magazines Chat, Pick Me Up, Woman and TV & Satellite Week. Consumers will need to download t...Read More