Should there be more regulation of the UK insurance market?
If there is one area of household expenses which attract controversy and complaints it has to be insurance, with car insurance one which is always to the forefront. More and more people in the UK are now claiming that despite having a clean driving licence and a no-claims bonus they continue to see significations and ongoing increases in their premiums. Should there be more regulation of the UK car insurance market especially?
It can sometimes be very difficult to understand how the insurance market works and indeed how the car insurance sector in particular operates. We hear news that legal drivers are made to pay the cost of illegal drivers in the UK with many of those even convicted escaping with relatively small fines. The insurance sector is in something of a no-win situation because the ever-growing increase in legal fees, to prosecute illegal drivers, is often borne by motorists who are fully covered by their insurance but if the insurance companies refuse to prosecute uninsured drivers what example does this give for the future?
Many in the UK believe that the courts should be tougher on uninsured drivers which would ultimately reduce the numbers and reduce the cost of prosecutions for the insurance industry as a whole.
Pet insurance 'crucial for vet fees'
Veterinary fees can cripple family finances unless people have adequate pet insurance, it has been claimed.Owners who do not insure their pets could face a "major problem" if treatment is needed, the British Small Animal Veterinary Association (BSAVA) has warned.The introduction of new treatments all the time means that vets' fees are now rising on an annual basis, meaning any treatment that is ne...Read More
When did you last review your insurance policies?
The Internet has changed many areas of everyday life and many areas of business however it seems many of us are still adamant that we will retain our existing insurance providers and other financial service providers. When was the last time you reviewed your insurance policies?
It is well known in the vast majority of people in the UK are happy to renew their insurance policies year...
Upwards of 200,000 young drivers are driving without insurance
A report by the Motor Insurers Bureau (MIB) has revealed that upwards of 240,000 young drivers aged between 17 and 20 are driving on UK roads without insurance. At a time when UK motor premiums continue to rise there is no doubt that there has been a significant increase in the number of uninsured drivers on UK roads and this figure is set to rise as the recession grabs hold.
Biba urges "sensible precautions" for winter drivers
Motorists heading out over the cold winter period are being advised to ensure they take "sensible precautions" to reduce the risk of an accident.Graeme Trudgill, technical and corporate affairs executive at the British Insurance Brokers' Association (Biba), said that motorists "need to take care" and "make sure their cars are ready for winter".He explained: "The darkness, the wet roads and the icy...Read More
UK insurers want exemption from equality laws
The UK government is under pressure from the insurance sector to exempt UK insurers from various areas of the recently introduced equality laws. One of the main aspects which has arisen over the last few days is the availability of motor cover for elderly drivers. It is no secret that many insurers are wary of covering older drivers because of a perceived increase in risk and one in five older dri...Read More