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".
Prudential shares soar as financial position is strengthened
The Prudential has today announced a £1.1 billion cash injection to the company reserves via an asset sale in Taiwan and the receipt of future income from it's with profits fund. There had been severe fears in the market that companies such as Prudential would struggle to cope with any further downturns in the UK and worldwide stock markets but these fears seem to have been allayed, at least in t...Read More
UK government announces crackdown on payment protection insurance
The UK government has today announced a substantial change in the regulations governing the sale of payment protection insurance (PPI) in relation to loans and credit cards. This area of the market has been relatively untouched for some time despite growing complaints of aggressive sales pitches and some customers feeling they had no choice but to take out PPI with their loan or credit card compan...Read More
Garden security warning from home insurance firm
Neglecting garden security in the summer months could result in a costly home insurance claim, the Cheshire Building Society has warned. According to research conducted by the home insurance provider, around one third of all insurance claims occur during the summer months. Much of the glut of summer claims is due to people failing to secure their garden properly, said Karen Torson, partnerships bu...Read More
What Is An Underwriter? (Part One)
Underwriters are very common in investment markets especially stock markets and insurance markets although the specific role of the two does differ. In affect an underwriter will take some of the risk from a share issue or other financial transaction in return for a commission (payment).
Stock Market Underwriter
When a company is looking to raise funds for expansio...
Renters urged to take out home contents insurance
Renters should ensure they have home contents insurance or risk suffering significant financial losses, an insurer has said. According to a poll conducted by Zurich Insurance, 33 per cent of tenants keep goods worth £10,000 in their accommodation. However, 37 per cent of respondents confessed that they have no home contents insurance - thus leaving themselves at risk of serious loss. Reasons give...Read More