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".
MPC almost unanimous over rate freeze
The Bank of England's monetary policy committee voted 8-1 to keep interest rates at 5.5 per cent at January's meeting. According to the minutes of the meeting, only David Blanchflower voted against the move citing the need to address the fears of retailers over diminishing sales. The bank will meet again to decide rates on February 7th, with analysts anticipating that the mpc will cut rates in the...Read More
Can Home Information Packs Survive?
News that the laws governing Home Information Packs (HIPs) are not being adhered to 12 months after they were introduced is a shocking reflection of a policy which the UK government brought in against the wishes of the industry. The idea was sound, one survey to cover one house sale, but the cost (£400) and the fact that many surveys were being ignored as finance companies were not accepting the...Read More
UK population set to grow by 10 million
It has been revealed that the UK population is set to grow by 10 million to a massive 70 million in the short term after a significant increase in immigration. When you also take into account the fact that the population is also older than ever before with a 30% increase in those of pensionable age, totalling 15.6 million people, it's easy to see potential future problems for the UK state benefits...Read More
UK share dividends to fall by 13% in 2009
Even though many investors are still reeling from the significant fallout in the UK stock market after the onset of the ongoing recession, they could see a reduction in their income in 2009 with UK dividend set to fall by 13% on average in 2009. So how will this impact upon investors and the stock market?
On one hand the retention of cash by struggling companies will give them more...
Bank governor signals rate hold
The Bank of England seems unlikely to raise rates, following comments made to MPs by its governor.Addressing the Treasury Select Committee yesterday, Mervyn King said that it was a priority for the Bank not to exacerbate the UK's current economic slowdown - a situation that might be worsened by any increase in the base rate of interest.Analysts have speculated that the Bank might make the move due...Read More