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.
Brown bullish on economy
Gordon Brown has delivered what is widely expected to be his last Budget speech and has given an upbeat verdict on the British economy.The chancellor is widely expected to have stepped up to the dispatch box for the 11th time today, ahead of what is looking increasingly likely to be a clear road to the Labour leadership.And in his opening comments this lunchtime, Mr Brown delivered a glowing verdi...Read More
Brits urged to take action over mis-sold PPI
Britons who suspect that they have been mis-sold payment protection insurance (PPI) should act now to claim compensation, a consumer magazine has advised. According to new research conducted by Which?, over the last five years up to two million people who have been sold the cover are likely to find they will not be able to make a claim. This is because they fall foul of exclusions stipulated withi...Read More
Last Housebuilder Relegated From The FTSE100
In a sign of the times there are no housebuilders left in the Blue Chip share club, the FTSE100, which contains the elite of the UK business world. The relegation of Persimmon to the FTSE250 was the last of the housebuilders to leave the FTSE100 with Barratt Developments and Taylor Wimpey recently biting the dust.
While the move was fully expected there are short term repercussio...
Business leaders demand revamp of UK gas storage system
After news that a number of UK companies had their gas supplies cut off over the last few days, business leaders in the UK have today called on the UK government to introduce an obligation on UK gas suppliers to store backup gas supplies in the UK. Despite the fact that we take our gas supply for-granted in the UK, the revelation that just eight days of backup supply are available onshore has shoc...Read More
Is the internet your way out of financial trouble?
While the internet has changed so many areas of our every day lives it has also opened up a mass of opportunities which many people have yet to realise. However, with the recession starting to bite in the UK it seems as though now may be a perfect time to take a look at possible options open to you.
People seem to miss the point that the internet has not only opened up local market...