Private medical insurance popularity grows
According to figures from the Association of British Insurers (ABI), the number of people taking out Private Medical Insurance (PMI) has risen year-on-year for the first time in recent years.In 2006, 1,030,000 individuals took out personal PMI policies, up 1.8 per cent from the 1,012,000 personal PMI policies in 2005.The number of businesses taking out corporate PMI has increased even more than this, with 2,345,000 corporate PMI subscribers in 2006 an increase of 4.1 per cent on 2005's total of 2,254,000 corporate subscribers.Collectively, personal and corporate PMI plans now cover 5.9 million people in the UK. Commenting on the statistics, Nick Starling, the ABI's director of general insurance and health, said: "Private Medical Insurance offers people greater choice of treatment and other services for a wide range of medical conditions and injuries. It also takes pressure off the NHS, so by buying PMI, people are effectively reducing the burden on Britain's hard-pressed health service. "It is encouraging that more individuals are choosing to buy PMI for themselves and their families. PMI bought by companies on behalf of their employees has continued to increase in popularity too, helping to ensure that people can get back to work sooner after illness or injury."
Markets fall on Greek debt fears
US and European stock markets today fell sharply amid concerns that the Greek debt crisis is now affecting other areas of the European debt market. Today we saw Greece and Portugal hit with credit rating downgrades which have caused concern and unrest within investment markets. There is a feeling that little is being done to address the immediate problems of the Greek budget deficit and this has t...Read More
5m Expected To Join Social Housing List
As the credit crunch continues to impact upon a range of areas of the UK economy it seems that the demand for social housing is set to mushroom over the next five year. The Local Government Association believe that the current problems in the UK property market will see the social housing waiting list pushed up to 5 million causing a massive strain on local authority budgets. While the above s...Read More
Is Japan Airlines just hours away from bankruptcy?
Shares in Japan Airlines have fallen further today as the reality of the company's financial situation continues to hit home with investors. Having fallen to a record low equivalent to 26p a share it is believed the company is just hours away from an official bankruptcy ruling which will transfer ownership of the company to a state owned turnaround venture. But is this the end of Japan Airlines?...Read More
Royal Bank of Scotland accused of inflating mortgage profit margins
Royal Bank of Scotland today stands accused of inflating mortgage profit margins as the group announced a swing from a £1 billion loss in the first six months of 2009 to a £9 million profit in the first six months of 2010. Some experts in the mortgage market believe that Royal Bank of Scotland has increased the margin on various mortgage arrangements by as much as double that of their competitor...Read More
Lloyds bank encourages mortgage overpayments
In a move which will catch the eye of many consumers in the UK Lloyds bank has revealed customers on variable mortgage rates will be able to overpay up to 20% of their outstanding mortgage loans over the next year. The idea is that more people could take the opportunity to benefit from low UK mortgage rates and effectively reduce their interest payments in the future. It is believed that up to £2...Read More