M&S Car Insurance is offering free car washes for one year to motorists buying insurance through moneysupermarket.com. The deal is exclusive to the price comparison website which calculates the value of the offer at up to £84. Qualifying customers will receive a booklet of 12 vouchers entitling them to one free car wash per month, [...]
Motorists who fail to protect their no-claims discount (NCD) could find themselves paying up to 73% more on car insurance after a crash. Research by moneysupermarket found that a driver with five year’s unprotected NCD would see their premiums hiked from £528 to £911, an increase of £383, or 73%. Motorists who protected their five [...]
In its analysis of fraud trends for 2009, CIFAS has detected a 55% increase in false insurance claims and a change in the very nature of fraudulent claims, as the effects of the recession intensify. The study by the UK’s Fraud Prevention Service also revealed a 9% increase in the overall level of fraud reported [...]
Phil Green has been appointed by Wesleyan Assurance Society, a financial services specialist for professionals, to its non-executive Board of Directors. Green, who assumes his seat with immediate effect, is also chief executive officer of LIMRA Europe, the world’s biggest insurance association. In addition to these two roles, he also works as chairman of an [...]
Clear Bike Insurance, the specialist provider of motorcycle insurance, has chosen claims management firm White Knight Solutions to provide its customers with an entirely outsourced claims service. The whole process from start to finish, from first notification of loss through hire and repair, will be handled by White Knight. Clear Bike Director Paul Wheeler explained [...]
EMB has published a study on the latest version of the proposed European Solvency II rules in which the consultancy firm concludes that UK property and casualty insurers face a combined £13 billion jump in capital requirements. The new rules are due to come into force in 2012 and EMB warns that they could “seriously [...]
High street personal lines broker network 1 Answer Network is launching a new, better web server to allow its members access to cutting edge web solutions. Installation of the CDL ‘Integrity’ server was completed successfully in December and the new service is to be rolled out by April, allowing present and future ‘Executive’ members to [...]
Wesleyan is launching a new service aimed at affluent professionals with busy lifestyles. The mutual has developed a dedicated home, motor and travel insurance offering, promising a more personal approach and flexible cover. Private Clients Insurance provides immediate cover on newly purchased items, a 24-hour customer call centre based in the UK and an advice [...]
Experienced drivers can now take advantage of a new product from AXA designed to offer competitive and market-leading coverage. The product, AXA Car Insurance, is intended to cater to the insurance needs of the UK’s 9m experienced drivers who have many years of motoring experience and few accidents/convictions. Such drivers will be able to get [...]
The reinsurance industry enjoyed a good year in 2009, according to Cooper Gay’s 2010 Reinsurance Market Review, thanks to the absence of major catastrophes and the recovery in the global investment markets. The reinsurance sector proved more resilient than the primary market which had to contend with limited potential for premium growth, high levels of [...]
Somerset-based Higos Insurance Services has launched a payment protection plan aimed at tenants. The new policy covers rental payments in the event of unemployment or sickness and is available to private and social tenants, plus those still living at home and paying rent to parents. Cover can be extended to embrace a range of monthly [...]
The winner of the competition to star in 2010 Childsure’s Children’s Health Insurance, in association with Aviva, has been won by Isabel Tate, a six year old girl from Cornwall. Globally renowned shoe designer Jimmy Choo and model agency Elliott Brown selected Isabel after four rounds of competition. Anyone aged 18 or under was able [...]
Global specialty insurer Torus has announced the appointment of Carl Groth as group chief risk officer. Prior to joining the insurer he worked for Deloitte, leading the firm’s US Insurance Enterprise Risk Management practice offering advice pertaining to Solvency II to companies. Earlier in his career he was MD of Willis Group Ltd., and held [...]
A civil action brought by a consortium of seven UK motor insurers over a “crash for cash” scam has been successful. The High Court case relates to a major criminal ring involving 57 fraudsters in the Greater Manchester area, who used ordinary members of the public to stage their accidents. Last week, Mr Justice Holman [...]
As the money spent by British music lovers on MP3 downloads tops the £1 billion mark, it has emerged that most home insurance policies do not provide cover for music collections purchased online. Only one in twenty (5%) of people who download music from sites such as Amazon and iTunes know for certain that their [...]
Friends Provident has announced a rise in some bonus rates, having declared “a good year for with-profits”. The life and pensions provider’s gross investment return on its with-profits fund stood at 9.3% in 2009 and all final bonus rates have either increased or remained unchanged from a year earlier. In addition, market value reductions (penalties [...]
