UK motor insurance premiums increase yet again
The AA insurance has today commented upon the state of the UK motor insurance market with a suggestion that the average comprehensive motor insurance policy is now costing in excess of £1000 a year. This is an increase of around 20% on the 2008 figure and is predominantly because of fraudulent claims and the damage caused by uninsured drivers in the UK.
All in all it is believed that UK motorists will face an additional £2.1 billion in insurance costs this year alone purely and simply because of these fraudulent claims and uninsured drivers. Despite the fact that the recession is still impacting upon many people around the UK, and indeed some people are considering downgrading or even cancelling their car insurance, the cost of insuring your vehicle continues to climb higher and higher.
In what is certain to become something of a vicious circle, a 20% increase in motor insurance premiums will almost certainly see more people taking the risk of driving uninsured which will yet again feed into the cost of insurance premiums in the future. Quite why perfectly legal and insured drivers have to pick up the bill for those who have decided not to take out insurance, which is illegal, continues to remain a mystery to many in the UK.
Postal strike set for 22 October
Despite the fact that a number of localised strikes have been occurring on a regular basis over the last few months, the official union strike at Royal Mail is set to start on Thursday, 22 October. There will be a number of strikes between 22nd of October and the Christmas period which are ultimately designed to wreak the greatest havoc and cause maximum impact. However, the Royal Mail management...Read More
HSBC looking to cash in property assets
Last year's repurchase of its Canary Wharf headquarters saw HSBC bank profits of around £300 million after originally selling the property for £1.1 billion in a leaseback agreement in 2007. It is rumoured that HSBC is looking at selling a portfolio of property assets held by the group with the intention of raising around £2.5 billion to assist with the funding of the business. The bulk of the t...Read More
£13 billion online shopping bonanza forecast in run-up to Christmas
Experts are today predicting a total of £13 billion will be spent online in the run-up to Christmas, as the largest ever online spending spree weekend comes to a close. A mixture of numerous attractive discounts available, delivery direct to the buyer and the massive range of products on offer has seen more and more people take an interest in online shopping. Companies such as Amazon and eBay are...Read More
UK house prices back to 2006 levels
Despite the fact that house prices in England and Wales have increased each month for the last eight months, and are in fact 8.4% higher than a year ago, they are only now back to levels seen some four years ago in August 2006. This was 12 months before the credit crisis struck home and perfectly illustrates how the UK property market, and indeed the worldwide property market, suffered during the...Read More
The Madoff fund appears to have run dry
The $50 billion investment fund fraud which has come to light on Wall Street may well end up costing investors more than many had initially thought. The SEC in America has been investigating the fund and it looks as though the business has been running insolvent for a number of years. It would also appear there is little left of the $50 billion invested into the scheme and while $17 billion was ap...Read More