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."
Will the UK government be recompensed for Icelandic banking collapse compensation?
There are serious signs today that the Icelandic government may not yet be in a position to sign off a £3.4 billion payout in relation to the recent Icelandic banking collapse. Despite the fact that the compensation package has been voted through the Icelandic parliament there is growing resistance amongst Icelandic nationals who feel that they are being made to pay the price for political indif...Read More
More than a third of Brits bank online
A decade after the advent of internet banking, a report from Nationwide shows that 37 per cent of British people now manage their money online. Half of those who bank online said it was easy and 53 per cent said they found it convenient. One user in nine accesses internet banking as they can not always get to their local branch and one in 25 preferred the paperless process. Over half of online ban...Read More
nPower completes tough week for UK energy companies
UK power giant nPower was this week been effectively forced to agree a £63 million refund to customers who were overcharged due to a technical error back in 2007. It is believed that the company failed to inform customers in the correct manner with regards to price increases which has led to the record compensation bill which equates to around £35 per person affected by the issue. This is jus...Read More
Aldi and Lidl attracting attention from middle-class shoppers
While there is no doubt that the cheaper end of the food retail market has enjoyed something of an Indian summer throughout 2008 who would have thought that so-called middle-class shoppers would be attracted to the likes of Aldi and Lidl?
However, this appears to be the case with the likes of Waitrose apparently missing out on increased business because of the UK consumer's decision...
ING on the ropes with £8 billion cash injection
As the situation in Europe appears to be getting worse before it gets better it has been revealed that the Dutch authorities have injected a further £8 billion into troubled banking giant ING. The move is seen as part of a concerted effort to shore up the European banking system but in the case of ING this is not the first bailout of recent times.
The sub-ordinate bonds which the...