Why has it taken 10 years to address the Equitable Life collapse?
It is difficult to appreciate how it has taken the UK government 10 years to come anywhere near answering compensation claims for the Equitable Life debacle back in 2000. Equitable Life was literally on the verge of collapse due to a number of retirement guarantees offered to customers which came back to bring the company to its knees. The company lost a high-profile court case which effectively forced the breakup Equitable Life and a nightmare scenario for many customers.
The new coalition government has recently indicated a potential compensation payment of around £500 million although this is only a fraction of that expected by campaigners on behalf of those who lost out. While the current UK government was obviously not involved in the Equitable Life debacle it has been left to carry the can and many experts are deeply disappointed about the potential compensation figure being mentioned. However, this does not answer the question as to why it has taken nearly 10 years for the issue to be addressed - although the final ruling will not come into play until late in 2010/early 2011.
Aside from problems relating to the Equitable Life collapse we must ensure we do not see a repeat of the situation in the future.
High Fuel Prices Are Feeding The Online Car Insurance Market
As fuel prices continue to creep higher and higher there are signs that more car owners are looking to the internet for the best car insurance deals. Recent figures have shown a marked increase in the number of car insurance policies granted over the internet and many observers expect this trend to continue for some time.
It seems that while just a year ago many people would not ha...
Car insurance to rise 10%, says AA
21/01/2015 The AA have claimed that car insurance costs could rise by up to 10% throughout the year. Annual car insurance prices have fallen in the last three years due to a crackdown on fake whiplash claims and inflated hire car and repair bills that padded out premiums, but the AA have predicted 2015 to see an increase in costs. The cost of annual comprehensive car insurance has risen b...Read More
Gordon Brown forced to reconsider national insurance rise in 2011
Gordon Brown is tonight under serious pressure from backbenchers to reconsider the 0.5% increase in National Insurance which he intends to implement in 2011. The move is forecast to increase costs to UK business by something in the region of £2.65 billion and severely dent industries ability to bounce back from the ongoing recession. While 2011 may seem some time away, the ongoing UK recession is...Read More
Legal & General warns over allowing staff into homes
Allowing home help such as cleaners, gardeners and odd job men, into your house can pose a significant risk to security, a home insurance company has warned. Legal & General's survey of UK spending habits found that among the 41 per cent UK households which employ help, some 17 per cent use a cleaner. Meanwhile, seven per cent pay someone to help with their ironing, while 17 per cent delegate thei...Read More
Cutting the cost of your car insurance
To many people car insurance is daylight robbery in many ways, you cannot get away without it, the premiums keep rising and more often than not you do not receive the amount you thought your car was insured for in the event of an accident. So how can you reduce your car insurance while retaining the cover that is applicable to you?
There are many ways to reduce you cover which incl...