Drivers lie over claims to insurance companies
Millions of British motorists would lie to insurance providers to avoid jeopardising their claim, a new survey suggests.The study by Moneysupermarket found that 2.5 million drivers in the UK would bend the truth to ensure they received a payout.When asked what they would do if they had failed to lock their car properly leading to it being stolen, 26 per cent of motorists said they would resist telling the truth until their conscience caught up with them.Only 18 per cent of motorists said they would give the full facts without being pressed, while 41 per cent would own up to their carelessness if asked. "It's extremely worrying that one in three drivers would actively attempt a cover-up if their carelessness led to a claim," Richard Mason, managing director of insurance at moneysupermarket, said."People may not see the omission of certain facts as fraud, but if these facts helped lead to the claim then thatÃ¢â‚¬â„¢s exactly what it is. "We would urge all drivers to tell the full truth; insurance fraud is a criminal offence and the overall consequences could be far more costly than the sums they are trying to salvage by being economical with the truth."Insurers are often seen as the bad guys, but there are two sides to any relationship and drivers need to own up to their mistakes," he added.It seems that the Welsh are most honest when it comes to revealing the truth, with a quarter saying they would have no problems admitting the true sequence of events.
Rising inflation predicted by public
Consumers expect living costs to rise still further over the next year, Citigroup has claimed.The bank found that the current average inflation expectation among the general public for 12 months' time stands at 4.6 per cent - an increase over last month's prediction of 4.1 per cent.Moreover, both of these figures are above the latest government inflation benchmark of 3.3 per cent - which itself ex...Read More
UK corporate insolvencies approaching crisis point
News at 4001 companies went bust in the UK in the third quarter of 2008 are starting to cause real concern among financial experts. The main worry is the fact that this type of news will see banks and other investment groups pull in their horns and demand greater guarantees and covenants for future financial assistance.
In many ways this is turning out to be a self fulfilling prophe...
Norwich Union disappears and Aviva takes over
While effectively the name of Norwich Union began to disappear many years ago, today marks a definitive point in the history of this well-known insurance company, which will disappear altogether. Having operated as a subsidiary of Aviva, the former CGNU insurance conglomerate, Norwich Union will be no more after today as the rebranding exercise reaches the end of the road.
Should you be worried about inflation?
The vast majority of people in the UK will never have given inflation a second thought as they attempt to make ends meet and pull themselves out of the economic downturn. However, the truth is that inflation is a danger to us all which can and has impacted upon every corner of life in the UK! Inflation is the devil which eats away at the value of your money and reduces your spending power on an...Read More
Savvy savers go for consistency
Only three savings accounts out of ten re-achieved the same top rankings this January that they did two years earlier in Investec Private Bank's Savings Index, showing that banks rarely perform consistently.The index, which rates top performing savings accounts for balances of £25,000, found that Britannia's HomeSaver account was the very best for consistency, with its 6.55 gross interest rate.Re...Read More