Private medical insurance popularity grows
According to figures from the Association of British Insurers (ABI), the number of people taking out Private Medical Insurance (PMI) has risen year-on-year for the first time in recent years.In 2006, 1,030,000 individuals took out personal PMI policies, up 1.8 per cent from the 1,012,000 personal PMI policies in 2005.The number of businesses taking out corporate PMI has increased even more than this, with 2,345,000 corporate PMI subscribers in 2006 an increase of 4.1 per cent on 2005's total of 2,254,000 corporate subscribers.Collectively, personal and corporate PMI plans now cover 5.9 million people in the UK. Commenting on the statistics, Nick Starling, the ABI's director of general insurance and health, said: "Private Medical Insurance offers people greater choice of treatment and other services for a wide range of medical conditions and injuries. It also takes pressure off the NHS, so by buying PMI, people are effectively reducing the burden on Britain's hard-pressed health service. "It is encouraging that more individuals are choosing to buy PMI for themselves and their families. PMI bought by companies on behalf of their employees has continued to increase in popularity too, helping to ensure that people can get back to work sooner after illness or injury."
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 tel...Read More
Irish economy appears to be in freefall
The Irish economy appears to be in freefall today with the central bank suggesting there will be a fall of 6% in Ireland's gross domestic product this year, which is a whole two percentage points greater than forecasts only a few weeks ago. However, more alarmingly the 6% reduction is also under review and may well be increased in the weeks and months ahead. After a period of substantial growth wh...Read More
Royal Bank of Scotland continues loan book disposal
It is been revealed that Royal Bank of Scotland has this week sold on a £220 million loan book as the company continues to reduce assets held on its balance sheet. The company has confirmed on numerous occasions that around £258 billion of assets will eventually be released from the company's control and the ongoing sale of various loan books is part of this strategy. Oh how the mighty fallen...Read More
Over-50s 'set to become landlords'
The over-50s are set to make a move en masse into the property market in the coming years, according to new research.Figures from Saga have suggested that almost a quarter more over-50s are planning to become landlords in the next 12 months, as the potential for investment in the property sector shows little sign of abating.With the buy-to-let boom expected to continue, many over-50s are planning...Read More
Will Marks & Spencer surprise the city on the upside?
This Wednesday sees half-year figures from retail giant Marks & Spencer amid hopes that the UK high street may well have turned the corner. Marks & Spencer shares have risen by around 25% over the last three months with broker upgrades for the full year figures rising from £430 million to £600 million. While the shares have factored in some of the increase in forecast figures, there is a feeling...Read More