'DIY' holidaymakers risk travel cover
Around eight million UK tourists risk being stranded during the summer because they are not covered by Air Travel Organisers' Licensing (Atol) travel protection.Most traditional travel agents automatically cover holidaymakers with Atol protection, which should ensure that tourists are escorted home and reimbursed should their agent cease trading.'DIY' tailored holidays from independent agents do not always offer this scheme, yet 39 per cent of holidaymakers booked this kind of holiday last year where a decade ago 97 per cent of holidays were booked through conventional agents.David Clover, spokesman for Atol, said on Channel 4's News at Noon that he was concerned that a new survey by the Civil Aviation Authority showed that a third of holidaymakers mistakenly believe they are covered by the Atol scheme when booking independently.Mr Clover said: "Atol provides full financial protection if anything goes wrong with the travel company, that means they'll get their full refund or be repatriated back to the UK if the tour operator goes bust.He warned of the importance of making sure you have adequate travel insurance, saying: "If you do a DIY holiday then there are real risks people will be stranded abroad or will lose out financially."
Who will pay the eventual cost of the £3.5 billion write-off?
The Bank of England report this week which suggested that UK banks and building societies have written off £3.5 billion of consumer debt between April and June 2010 has shocked many people. Aside from the fact it is a concern that UK consumers are so heavily mired in debt it is also a surprise that the banks have agreed to write off such a large level of debt. But who will pay the eventual cost?...Read More
Government Plans To Revamp Qualifications Is Attacked
As they say in business, if it is not broken why fix it, but this does not seem to be a philosophy which the UK government is following. News that A levels are to be replaced by Diplomas has not been well received by the Confederation of British Industry (CBI) and the fact that the first batch of students will take the new qualifications in September has set the alarm bells ringing.
Mervyn King calls for UK banks to be split
Mervyn King, the Governor of the Bank of England, has been in the news amid calls for UK banks to be split to reduce their influence on the UK economy. This is not the first time that the Bank of England has in fact called for such a move as it is obvious to all parties that the UK financial sector is effectively running the UK economy.
There were calls to hive off the less risky de...
Are you making use of your online banking facilities?
As more and more of us look towards the Internet for our everyday needs it appears there are still many people who are reluctant to use the Internet for their financial affairs. While we periodically hear about various scandals and frauds on the Internet, it is easy to forget that these types of criminal activity have been commonplace off-line for many many years. However, it appears that the Inte...Read More
Building societies look to fill compensation gap
It has been revealed that 6 out of 10 building societies in the UK feel they will need to increase their mortgage rates and reduce savings rates to fill the gap left by their contribution to the financial services compensation scheme. This is a scheme set up by the financial regulators to ensure there is sufficient capital to compensate customers of failed UK banks although one which many feel has...Read More