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."
East Anglians face 'most windscreen damage'
Cars in East Anglia face the highest amount of windscreen damage, Churchill has revealed.According to the car insurance firm, the regional risk can be explained by the fact that an unusually high proportion of Norfolk and Suffolk is made up of arable farming land.This is because the heavy machinery used for agriculture creates additional debris on the road - which is then thrown up by cars and cau...Read More
Cost cutting supermarkets pile pressure on food producers
24/11/2014 Supermarkets such as Tesco, Asda and Morrison’s are forcing some food production companies into insolvency, according to accountancy company Moore Stephens. The number of food production companies who entered insolvency increased by 28% in the 12 months leading to September, despite an improving UK economic outlook. It is believed that the reason for this unexpected pressure...Read More
Bank of England to hold biggest ever review of UK markets
28/10/2014 The Bank of England are set to launch the biggest ever review of the financial markets in history. They are looking to restore consumer trust in the financial industry, after several investigations uncovered a number of rate-rigging scandals. Recent rate-rigging scandals included Libor fixing, whilst investigations have also revealed alleged attempts by investors to fix the gol...Read More
London house prices could fall
11/07/2014 House prices in London could be set to fall over the next three months, according to a poll by the Royal Institution of Chartered Surveyors (Rics). The poll found that London surveyors believed house prices were likely to fall in the coming months, with one cause believed to be the recent introduction of tougher mortgage lending rules for borrowers. Rics said that various facto...Read More
Hastings Insurance Hit With £735,000 Fine
Well known car insurance company Hastings Insurance has been hit with a £735,000 fine after it cancelled a number of motor insurance policies at short notice after finding a pricing error in their system. In total the group cancelled 4,550 motor policies after checks revealed that quotes were on average £539 cheaper than they should have been. However, the group has been strongly criticised fo...Read More