Car insurance fraud worth £5m per week
by Richard Kilner
Story link: Car insurance fraud worth £5m per week
The Association of British Insurers (ABI) has released figures which show that over the course of last year, 24,000 fraudulent motor insurance claims were uncovered by insurers.
The fraud was worth a total of over a quarter of a billion pounds, or £5m per week.
The last three years has seen a surge in the number of […]
Age discrimination law demands new approach from insurers
by Gill Montia
Story link: Age discrimination law demands new approach from insurers
Questions are already being asked about the impact on the insurance sector of the Government’s new Equalities Bill, which aims to put an end to age discrimination in England and Wales while at the same time allowing employers to discriminate in favour of female and ethnic minority job applicants.
The proposals were outlined in the House […]
Consumer cut backs could cost insurers £1.5 billion
by Gill Montia
Story link: Consumer cut backs could cost insurers £1.5 billion
A report from Deloitte, the professional services firm, is suggesting that the insurance sector could be facing a significant downturn in revenue as a result of the credit crisis.
Research conducted for Deloitte by YouGov (involving 2,286 consumers) found that 26% of respondents planned to cut back their insurance cover during the next twelve months, potentially […]
NU withdraws “pay as you drive” policy
by Gill Montia
Story link: NU withdraws “pay as you drive” policy
Norwich Union has withdrawn its “pay-as-you-drive” motor insurance scheme.
The policy was launched at the end of 2006 and used new technology to lower accident rates by changing motorists’ driving patterns, and subsequently lower their insurance premiums.
With a global positioning system fitted in each policyholder’s vehicle, premiums were based on the distance driven, the time at […]
Caravan Guard shortlisted for Personal Lines Broker award
by Gill Montia
Story link: Caravan Guard shortlisted for Personal Lines Broker award
Caravan Guard, the caravan and motorhome insurance specialist based in Halifax, has been shortlisted for the best “Personal Lines Insurance Broker” award at the British Insurance Awards.
The nomination is an accolade in itself for the family-owned broker. A director of the firm, Chris Nettleton, says that being selected as a finalist is a major success, […]
Kwik-Fit and Swiftcover lead the way in motor insurance
by Gill Montia
Story link: Kwik-Fit and Swiftcover lead the way in motor insurance
Moneysupermarket.com has named Kwik-Fit and Swiftcover as its most consistently competitive motor insurers.
The price comparison website analysed 12 million quotes and found that the two companies regularly offered the most competitive premiums, averaging out at just under £277 across all drivers.
The research also named Endsleigh as sixth most competitive provider, rising from 47th place a […]
1.15 million motorist risk driving without insurance
by Gill Montia
Story link: 1.15 million motorist risk driving without insurance
New research from Sainsbury’s Car Insurance indicates that 1.15 million people have driven a car in the last 12 months, with no insurance in place.
According to the survey, those aged between 17 and 24 are the commonest offenders, accounting for nearly two-fifths of respondents confessing to this serious offence.
The 25 to 34 year old age […]
FSA dissatisfied with insurance comparison websites
by Gill Montia
Story link: FSA dissatisfied with insurance comparison websites
The Financial Services Authority (FSA) has completed a review of insurance comparison websites and concluded that some are misleading consumers by not providing clear and accurate information.
In its report, the regulator states that only a small number of insurance sites provide a full list of policy features and that in the majority of cases, consumers […]
Admiral predicts record 2008 following Q1 results
by David Masters
Story link: Admiral predicts record 2008 following Q1 results
The Admiral Group has reported its results for the first quarter, and is on track to achieve record profits for 2008.
The Wales-based motor insurer - which sells insurance through the brand names Admiral, Bell, Diamond and Elephant.co.uk - saw turnover for the first quarter of £232 million, a 14% increase compared to the same period […]
Green drivers prefer carrot to stick
by Richard Kilner
Story link: Green drivers prefer carrot to stick
Research conducted by price comparison website Tescocompare.com has revealed that a staggering 21 million people would consider changing their car for an eco-friendlier vehicle if the costs of doing so were cheaper and incentives were offered.
At present 2 million people claim to drive an environmentally friendly car.
The comparison site also discovered an age effect regarding […]
Blues lovers speed the most
by Richard Kilner
Story link: Blues lovers speed the most
Saga Motor Insurance has conducted research into motoring and music which reveals that blues lovers are the most likely to be caught speeding, followed by those who listen to country and western.
The research also uncovered the finding that those who like country and western are likeliest to be involved in an accident.
In addition, Bat Out […]
Esure upgrades bonus protection
by Gill Montia
Story link: Esure upgrades bonus protection
Esure, the online insurer, is upgrading its standard no-claims discount protection on motor policies to provide “protection for life”, meaning drivers can retain the benefits of a no claims discount regardless of the number of claims made during the life of their policy.
In researching the area of no-claims bonus protection, Esure found that 37% of […]
Heath Lambert and Ai Claims offer integrated car insurance
by Richard Kilner
Story link: Heath Lambert and Ai Claims offer integrated car insurance
Heath Lambert Group has formed a partnership with Ai Claims Solutions in order to provide fleet managers with a fully integrated motor accident management service.
The move is designed to bolster speed and efficiency of the claims process, including the usage of a 24/7 Driver Care Centre.
In situations where the claimant is entirely free of fault, […]
AA: premiums not yet hit by flooding
by Richard Kilner
Story link: AA: premiums not yet hit by flooding
The widely tipped surge in cost of car and home insurance premiums has yet to appear, according to the AA British Insurance Premium Index.
Car insurance premiums rose by 6% over the course of a year, but most recently have recorded a modest decline.
The present average cost of comprehensive car insurance is £682, £37 higher than […]
Higher petrol prices affecting motoring habits
by Richard Kilner
Story link: Higher petrol prices affecting motoring habits
A survey conducted by MoneyExpert.com has revealed that the rising costs of petrol and premiums are pushing motorists off of the road.
The increasing costs are affecting a quarter of all drivers.
According to the website, the current cost of a litre of unleaded petrol now stands at 107.5p.
However, despite soaring petrol costs the biggest expense for […]
uSwitch advise browsing for car insurance
by Richard Kilner
Story link: uSwitch advise browsing for car insurance
Research conducted by uSwitch.com has revealed that ‘on the spot’ car insurance, taken out when a car is purchased on the forecourt, is more costly than convenient.
According to uSwitch, the ‘on the spot’ insurance cost is an average of about 10% more expensive than if the motorist had approached the relevant underwriter, and 26% more […]
Motorists using mobiles face price hike
by Richard Kilner
Story link: Motorists using mobiles face price hike
Drivers caught using their mobile phone whilst on the move could be hit with a large premium price rise of 30%.
Allianz Insurance is to deal with those found guilty of using a mobile phone whilst driving in the same manner as those found guilty of dangerous driving.
This replaces the old policy, under which mobile phone […]
AA reveals car vandalism stats
by Richard Kilner
Story link: AA reveals car vandalism stats
AA Personal Loans has conducted research revealing that most cars are broken into or vandalised whilst parked in residential areas.
A majority, 72%, of drivers have had their car suffer damage through vandalism.
Almost half, 43%, of drivers know somebody whose car has been broken into whilst parked in a residential area.
Contrary to popular belief, residential streets […]
Allianz ups premiums for drivers on mobiles
by Gill Montia
Story link: Allianz ups premiums for drivers on mobiles
Allianz has become the first motor insurer to raise premiums specifically for drivers convicted of using their mobile phones whilst at the wheel.
Previously, the insurer treats points on a licence for mobile phone use as equivalent to a speeding a conviction.
The new regime will increase premiums by 30%, the same hike as applied to motorists […]
MIB assists in seizure of 100 uninsured vehicles
by Gill Montia
Story link: MIB assists in seizure of 100 uninsured vehicles
The Motor Insurers’ Bureau (MIB) has assisted police in an operation against vehicle crime that took place across south-west England and Wales, last week.
Over 900 vehicles were stopped, 58 people arrested and 156 vehicles seized.
Of the vehicles seized 100 had no insurance and over 50 had no tax. Fifteen arrests were made for driving whilst […]
