AXA rewards safe motorists
Financial giant AXA has revealed a new car insurance policy which will see those with eight or more years no claims bonus receiving a 90% discount on their premiums. This compares to the average discount of 65% on a maximum five-year no claims bonus and will obviously further benefit the vast majority of drivers in the UK who do not claim on their car insurance.
This comes at a time when the AA has confirmed that UK car insurance premiums will rise by between 10% and 15% in 2010 with the majority of the increase caused by uninsured drivers causing accidents on the road. It would appear that slowly but surely we are seeing a polarisation between safe drivers and dangerous (and uninsured drivers) with many other insurance companies certain to follow the lead set by AXA.
Car insurance premiums have been on an upward spiral for many years now with the cost of covering uninsured drivers taken on by the industry and then spread out amongst insured motorists. Whether or not this is a fair allocation of the added expense associated with uninsured drivers is debatable but it is a trend which began some time ago and has ultimately led to a massive increase in car insurance premiums for "no apparent reason".
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Whether the UK insurance sector knew of the slow pace with which government investment in flood defences was progressing, or insurance companies were trying to give the authorities a wake up call it seems promises of major investment in flood defences are at least 2 years away, as they suggested. The insurance sector has already stated that many areas of the UK will be without flood insurance in...Read More
Royal Bank of Scotland set to be tested on insurance division sale
Despite rumours at the Royal Bank of Scotland, which is now majority owned by the UK government, is looking to cancel the ongoing sale of its £7 billion insurance division there are suggestions of a late entry into the sales process. Private equity giant Apollo Management and BC Partners are rumoured to be set to mount a late joint bid for the £7 billion division which may test the nerve of the...Read More
Cost-cutting skiers 'facing underinsurance risk'
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EU Gender Directive: Have you heard about it?
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Provide private medical insurance, ABI tells employers
The Association of British Insurers has advised employers in the UK to provide private medical insurance for their workers, detailing the benefits of making such a provision.Spokesman Jonathon French has highlighted the advantages of securing private policies for employees in the case of injury or sickness.He said: "It's certainly something which many companies consider a good thing for the sake o...Read More