£6bn lost on cancelled holidays
With a recent study revealing that over £6 billion was lost last year through people cancelling holidays they have already booked, Britons have been reminded of the importance of taking out a comprehensive travel insurance policy.According to the insurer More Than, who released the findings, while many people book their holidays well in advance, many fail to take out insurance and therefore leave themselves vulnerable to losing money spent on booked travel and accommodation should their plans change.Of all the claims made through More Than's travel insurance service last year, 26 per cent were for the cancellation of holidays, with an average cost of £856.Commenting on the findings, the company's head of travel insurance, Keira Clark, said: "It's encouraging that holidaymakers are catching on to the importance of travel insurance, but many still don't realise that by purchasing their policies late, they miss out on valuable cancellation cover."The comments come soon after British holidaymakers were advised to make sure their building insurance is up-to-date before going away, in the event of leaking pipes and water damage.
Centrica announces £2 billion rights issue
In a welcome change from the recent spate of recovery fund raisings Centrica has unveiled plans to acquire a 25% stake in the British Energy which was recently taken over by EDF. The much rumoured move has been on the cards for some time and will literally see Centrica totally revamp its energy supply division which will be able to offer a more thorough service to the retail operation.
Are you feeling the benefits of the economic upturn?
Despite the fact that recent figures suggest the UK economy is finally pulling free of the recession, unemployment is down and the banking sector is starting to return to something resembling normal, are you benefiting from the economic upturn? Experiences of the UK population appear to differ greatly depending upon the area in which you live, but one thing is for certain, the increase in econo...Read More
Bradford And Bingley Under Pressure From ABI
While the Bradford and Bingley share price had been in freefall prior to the TPG and fund raising announcements, the board are under increasing pressure to open their books to Resolution Group. Clive Cowdrey’s company has been in talks with the board of Bradford and Bingley, on and off, for some time about taking a controlling stake in the group.
However, despite the TPG deal...
European regulators agree Bradford and Bingley deal in 24 hours!
In what must be a record, and also a sign of the times, it has been revealed that only 24 hours after receiving the details of the Bradford and Bingley bailout, the European regulators have rubber stamped the deal and given it the green light to proceed. For a system which is wrapped up in endless bundles of red tape this really is a miracle to behold.
However, while we mock the wa...
Hargreaves Lansdown contemplates life as part of a larger group
UK financial outfit Hargreaves Lansdown is currently reflecting on the retail distribution review draft proposals announced by the Financial Services Authority (FSA). As we covered in one of our earlier post, these draft proposals could see the abolishment of commission only transactions and force investors to pay fees upfront either as part of their investment or as a one-off payment.