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 Stephen Hester overpaid?
Stephen Hester, the government appointed chief executive of Royal Bank of Scotland, is taking part in a Commons enquiry into the UK banking sector and in particular bonuses paid by Royal Bank of Scotland and Northern Rock. During his input to the enquiry Stephen Hester has admitted that his parents think his package at Royal Bank of Scotland is over the top and he is overpaid. However, while St...Read More
Is Alistair Darling set to reverse his recent tax hike?
In what would appear to be the early signs of another U-turn by the UK government, Alistair Darling has opened the door to a potential reversal of the higher rate tax increase which comes into effect next April. The increase in the top rate of tax in the UK from 40% to 50% was accompanied by a serious and prolonged attack on the more well-off areas of the UK population. However, in a surprise U-tu...Read More
Northern Rock valuer to receive £4.5 million!
As the government reveals the appointment of an independent valuation expert to arrive at a 'price' for Northern Rock it has been revealed that Andrew Caldwell, the man in question, will be paid a one off fee of £4.5 million no matter how long it takes him to arrive at the figure.
This is all part of the ongoing dispute between shareholders of Northern Rock and the government with...
Non-Dom Tax Changes Set To Hit A Wider Market
In a move which further undermines the UK government’s taxation policy there are major concerns that the new tax rules brought in to catch ‘non-doms’, and ensure that they pay UK taxes on all income, will impact on a wider market. It looks as though not only will the system be very expensive to run and administer, but the middle classes look like suffering the most. As European...Read More
Little support for rate cut in MPC meeting
The Bank of England's monetary policy committee (MPC) voted overwhelming in favour of keeping interest rates on hold last month, it has been revealed. Minutes from the MPC's meeting show that eight of the ten-member committee voted to maintain rates at their current level. Two members, John Gieve and David Blanchflower, had argued for a cut of 0.25 per cent to stimulate economic growth. The minute...Read More