Mergers and acquisitions expected in the UK insurance sector
Over the last few days the ongoing dispute between Aviva and the RSA has dominated the headlines and many people believe that the insurance industry is very much primed for a number of mergers and acquisitions in the short to medium term. Royal Bank of Scotland is already under pressure from the European Union to dispose of its Direct Line and Churchill insurance operations in the short to medium term. These operations are certain to attract the attention of insurers in the UK and while we are unlikely to see any aggressive bidding due to the economic environment there is no doubt there will be a number of parties interested.
This is just the tip of the iceberg with regards to the UK insurance sector where the Resolution Group is planning to create a business worth in excess of £10 billion. We could also see some of the major insurance companies in the UK looking to merge their operations as a means of streamlining the cost for the future and enabling them to focus on new markets and new opportunities in the medium to longer term. The markets are currently awash with rumours and counter rumours with some very interesting suggestions in the pipeline!
Pensions Act 'to allow more National Insurance top-ups'
Around 500,000 Britons could benefit from new amendations to the upcoming Pensions Act.The rules over National Insurance contributions are to be relaxed, with people now allowed to top up shortfalls with one-off lump sum payments.Effectively, this will mean that many women, who took years off work to bring up children, will now be able to take out the full basic state pension.The change applies to...Read More
Travel insurance claims rise following baggage crisis
Travel insurers are reeling the face of a massive rise in claims in the wake of the British Airways baggage crisis. Norwich Union has reported a 40 per cent increase in the number of claims for missing baggage in the first half of the year and InsureandGo saw an enormous 85 per cent rise in the same period. Airlines and airport operators have come under increasing criticism over lost and delayed b...Read More
Insuring your home office
As more and more people in the UK are attracted by the idea of working from home, whether working for themselves or an employer, there are many potential pitfalls and considerations to take into account. Aside from the fact that you will need quiet, clear space to work from there is also the need to ensure that your business equipment and business records are not only secure but well insured.
Simple ways to save money : Insurance premiums
The average home in the UK is likely to have a number of insurance policies in place including home insurance and car insurance to name but two. It is also well known that the vast majority of people throughout the UK tend to pay their premiums monthly rather than one-off payments at the start of every year. However, while there are upsides to paying monthly premiums there are also significant dow...Read More
Budget airlines accused of breaking EU insurance rules
A number of budget airlines around the world, including the UK, today stand accused of ignoring EU legislation with regards to additional charges and taxes which budget airlines add to their ticket prices. The EU ruled that additional charges such as travel insurance and cancellation insurance should be opt in rather than opt out, there by assuming that unless a customer specifically requests it,...Read More