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.
Will Barclays Bank break the coalition?
There is concern within the coalition government, the Conservative Party and the Liberal Democratic Party that the announcement of Bob Diamond's appointment as the next chief executive of Barclays Group could bring cracks in the coalition to the surface. There is no doubt that a number of MPs would rather see a more neutral person brought into the role of Barclays Bank chief executive with Bob Dia...Read More
David Blunkett suggest Labour need a miracle
David Blunkett has today stepped out of the shadows to suggest that the Labour Party needs a miracle to win the next election. It is unclear as to whether this is the start of a new strategy by Labour Party, to place themselves as underdogs, or indeed a personal comment from David Blunkett, but whatever the case it has caught the attention of the political press. While the voting polls in the U...Read More
Government wins alleged tax avoidance case
The UK authorities are today celebrating a potentially massive win in the courts when a judge ruled that retrospective tax legislation regarding offshore tax avoidance schemes was not against the human rights of those involved. The case centred round a self-employed IT contractor who was hit with a £100,000 tax bill by the UK authorities relating to income received through an offshore tax scheme....Read More
MP Expenses Set To Be Protected By The Back Door
In a move which has not been widely reported in the Labour Party supporting press it seems that MPs have yet again made plans to hide substantial details of their expenses claims. While a move to become more open with regard to expense claims is afoot with literally millions of receipts being scanned as we speak, not all details will be made available.
Yet again the MPs have used t...
Which sector is next in the great UK collapse?
Over the last few months we have seen a significant fall in the banking sector, increased pressure on car manufacturers as well as blood on the UK high street. These sectors are struggling to make ends meet and aside from the banking sector, there has been little in the way of direct government assistance for even some of the largest UK businesses. But which sectors could be next to succumb to the...Read More