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.
Scottish And Southern Sneaks In The Back Door
As the financial press concentrate on the move by energy giant E.ON to increase prices across the board we also saw another UK major slip in a significant price increase while 'nobody was watching'. Using the E.ON announcement as cover Scottish and Southern has announced immediate price increases of 19.2% for electricity and 29.2% for gas as the burden on the UK household continues to rise. Whil...Read More
Reforms 'will help energy customers on low incomes'
Ministers are discussing new plans to improve the affordability of energy for those on low incomes.A £2.75 billion home insulation programme is to be rolled out later this year, which will aim to lower bills in the long term through improving the energy efficiency in properties held by some of Britain's poorest families.The schedule of the three-year scheme is to be changed, in order to make more...Read More
Millions switch energy supplier
As many as 2.8 million households changed their electricity or gas supplier in the first seven months of 2007 alone, the energy regulator Ofgem has reported.Now, around half of all households in the UK are thought to have switched their gas or electricity supplier at some point since 1998, with four million switching in 2006 alone Ofgem said that the figures were evidence of the success of the de...Read More
Is the government right to look at selling off bank share stakes?
Today's announcement by the OFT (Office of Fair Trading), that the UK government should effectively disinvest various banking share stakes as soon as possible, has been backed by many investors and consumer groups. However, even though the UK government itself has been looking towards potentially selling off the sizeable banking stakes Gordon Brown is in a very difficult situation.
Magazine vouchers can save you money
There are many ways and means to save money in your everyday life and one particular area which does not attract as much attention as it should is the magazine industry. A vast majority of UK magazines will contain regular discount vouchers and money off coupons which can over the year save you substantial money on everyday goods and everyday services. While many people are embarrassed or can't be...Read More