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".
Is JJB sports back in trouble?
Despite the fact that JJB Sports had seemingly avoided bankruptcy earlier this year and looked set to continue to trade as normal, half-year figures announced today show a £42.9 million loss and concerns about the group's long-term future. It was only a few months ago that the implementation of a restructuring and refinancing plan appeared to have rescued the group from disaster, although the gro...Read More
Barclays bank shares in freefall
Barclays bank shares fell again for the ninth straight day amid concerns that the bank is running short of capital and will need a fund-raising exercise in the short to medium term. Despite chief executive John Varley stepping into the breach and suggesting the bank does not need a fund-raising exercise, investors appear to think otherwise. So what exactly is going on?
The 8p fall h...
Financial advice could save low earners billions
Fifteen million low income earners currently lack access to financial advice, but if the government set up a national generic financial advice service as planned, those affected could save billions, new research has shown. According to the Resolution Foundation (RF), even if only ten per cent of those on a low income took up the government's proposed advice service, unsecured loans would be cut by...Read More
Lloyds bank set to escape asset protection scheme
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