'DIY' holidaymakers risk travel cover
Around eight million UK tourists risk being stranded during the summer because they are not covered by Air Travel Organisers' Licensing (Atol) travel protection.Most traditional travel agents automatically cover holidaymakers with Atol protection, which should ensure that tourists are escorted home and reimbursed should their agent cease trading.'DIY' tailored holidays from independent agents do not always offer this scheme, yet 39 per cent of holidaymakers booked this kind of holiday last year where a decade ago 97 per cent of holidays were booked through conventional agents.David Clover, spokesman for Atol, said on Channel 4's News at Noon that he was concerned that a new survey by the Civil Aviation Authority showed that a third of holidaymakers mistakenly believe they are covered by the Atol scheme when booking independently.Mr Clover said: "Atol provides full financial protection if anything goes wrong with the travel company, that means they'll get their full refund or be repatriated back to the UK if the tour operator goes bust.He warned of the importance of making sure you have adequate travel insurance, saying: "If you do a DIY holiday then there are real risks people will be stranded abroad or will lose out financially."
Lloyds bank fund raising in the final straight
The Lloyds bank £4 billion rights issue is due to close this week amid signs that there is demand at these relatively low levels. However, each and every investor given the opportunity to acquire further shares at 38.43 pence against the current price of 69 pence should obviously take professional investment advice before deciding either way.
Many hope this is the final hurdle in t...
UK financial industry hits out at EU hedge fund proposals
In what is becoming a concerted effort to grab more control of the UK financial sector it has been revealed that EU ministers are looking at increasing the regulatory and compliance burden for hedge funds operating in Europe. This is a backhanded attempt to snatch yet more power from the UK authorities as London is widely regarded as the financial capital of Europe.
Under new propos...
Lloyds bank set to escape asset protection scheme
Rumours in the city suggest that Lloyds bank is on the verge of receiving official clearance from the UK government and UK authorities with regards to leaving the government's asset protection scheme. This is a scheme which Lloyds bank agreed to join some time ago but requires a £15 billion premium to cover hundreds of billions of pounds of potentially toxic assets and ultimately protect the comp...Read More
Factory gate prices remain at 16-yr high
Factory gate prices in the UK stayed at their highest level for 16 years during February, fuelled by skyrocketing costs for raw materials. According to the latest figures from the Office of National Statistics, non-seasonally adjusted output prices were up 0.3 per cent during February, meaning that the annual rate of 5.7 per cent noted in January remained unchanged. This is the highest level recor...Read More
Is health insurance set to become mandatory?
As we covered in our earlier article today it seems as though there is a move towards allowing patients to 'top up' their NHS treatment to pay for drugs which may not be readily available on the NHS. But is this a good move or the first step towards mandatory health insurance for everyone in the UK?
There has long been a feeling that health insurance will at some stage become manda...