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 it time to revisit your travel insurance arrangements?
The ongoing demise of the UK travel sector has prompted more people than ever before to review their travel insurance arrangements and check with their provider to see if they have sufficient cover. Many people are not only scared of losing their holiday money for those booked for the future, but if they do manage to fly out there is a concern that they may hit trouble trying to return.
HM Revenue and Customs announces national insurance holiday
HM Revenue and Customs have today announced a surprise national insurance holiday for new companies in the UK in areas of the country likely to be hardest hit by the reduction in public-sector investment. Those who are eligible for the national insurance holiday will be able to claim relief for the first 10 employees they hire in their first year of operation. HM Revenue and Customs believes that...Read More
MPs Call For Changes To Use Of Insurance Surpluses
While it has been a bone of contention for many years it seems as though the subject of so called orphan funds may soon be cleared up with news that MPs are set to press the FSA to introduce strict new guidelines. Orphan funds are basically funds which have been set aside to smooth the natural economic cycle of returns and cover any claims. Many UK insurers now have funds in the billions of poun...Read More
What have the government got to hide about Equitable Life?
Despite the government wheeling out a statement suggesting that many of those customers who lost money in Equitable Life will receive compensation in the years to come, Ann Abraham of the Parliamentary ombudsman has hit out at the government's interpretation of her report. The report into the Equitable Life saga was deeply critical of the UK government and the regulatory regime created to look aft...Read More