Story link: Motorists back tougher penalties for mobile phone users

Direct Line has commissioned research revealing that 69% of British motorists back harsher penalties for drivers caught using mobile phones behind the wheel.
The news that motorists support heftier fines or more penalty points for the transgression comes as the Government contemplates introducing harsher punishments for drivers who use mobile phones.
Direct Line’s early research has shown [...]

Direct Line covers airline failure

by Richard Kilner

Story link: Direct Line covers airline failure

Recent days have seen much turmoil in the world of airlines, with Flyglobespan becoming the latest airline to fail, leaving thousands of holidaymakers stranded overseas.
Scotland’s Daily Record has reported that some 5,000 have been stranded abroad due to the failure.
Over the course of the last two years around 60 airlines have failed, creating a minefield [...]

Direct Line, Churchill and NIG up for sale again

by Gill Montia

Story link: Direct Line, Churchill and NIG up for sale again

Royal Bank of Scotland’s (RBS) insurance businesses will almost certainly be sold off as the Government proceeds with plans to create three new High Street retail banking chains from the part nationalised RBS and Lloyds Banking Group, and the wholly state owned Northern Rock.
Ministers are putting the final touches to the proposals which could take [...]

Fines for uninsured driving better value than insurance

by David Masters

Story link: Fines for uninsured driving better value than insurance

Rogue drivers getting behind the wheel without insurance are not being deterred because the penalties if they’re caught are too lenient, Direct Line claimed this week.
Under new government proposals, motorists caught driving an uninsured vehicle will be fined as little as £50 – less than fine given out to people who overfill their bin, Direct [...]

Homeowners urged to be wary of burglary

by Richard Kilner

Story link: Homeowners urged to be wary of burglary

Insurer Ecclesiastical has warned homeowners to be wary as burglaries are forecast to rise during the course of the summer.
The summer months represent the peak of home insurance claims activity following a spike in burglaries, according to research commissioned by Direct Line.
In 2008 some 800,000 homes were burgled over the summer.
Direct Line has also urged [...]

Carpetright adds extra mark-up to insurance claims

by David Masters

Story link: Carpetright adds extra mark-up to insurance claims

Carpet store Carpetright charges 40% more to insurers than it does to high street consumers, an investigation by the Guardian newspaper has revealed.
Carpetright’s 450 stores across the UK receive £30 million of their annual income from insurance claims – on which they charge an extra £1 per square metre compared to standard consumer prices.
Although other [...]

Direct Line wins most trusted insurer title

by Richard Kilner

Story link: Direct Line wins most trusted insurer title

Marketingweek.co.uk has reported the results of the Reader’s Digest annual survey, the ninth of its kind.
After five years of holding onto the top spot as most trusted insurance provider Norwich Union has lost out to Direct Line.
Brand loyalty is of utmost importance to firms, and many established financial brands have seen their reputations take a [...]

One in six van drivers leave doors open

by David Masters

Story link: One in six van drivers leave doors open

Theft from vans is rife in the UK, with 21 vans being broken into every hour, research from Direct Line for Business has revealed.
Over 550,000 vans have been broken into in the last three years – hardly surprising considering one in six van drivers don’t bother to lock their vehicle.
Half of vans have no alarm [...]

New private equity interest in RBS insurance

by Gill Montia

Story link: New private equity interest in RBS insurance

New private equity bidders may emerge for Royal Bank of Scotland’s (RBS) insurance business.
The bank has been blowing hot and cold over the sale of the division, which includes the Churchill, Direct Line, Privilege, UKI and NIG brands, and reportedly rejected an offer from CVC Capital Partners in December, raising speculation that the auction would [...]

RBS may abandon insurance arm sale

by David Masters

Story link: RBS may abandon insurance arm sale

Royal Bank of Scotland (RBS) may call off the £7 billion sale of its insurance unit, which includes the Direct Line and Churchill brands.
The Sunday Times reported yesterday that RBS, the UK’s second largest banking group, has already rejected an offer for its insurance business from private equity group CVC Capital Partners.
RBS said it was [...]

CVC joins forces with Swiss Re in RBS insurance bid

by Gill Montia

Story link: CVC joins forces with Swiss Re in RBS insurance bid

CVC Capital Partners, the Luxembourg-based private equity firm, is reported to have joined forces with Swiss re, the world’s largest reinsurer, to make a bid for the insurance business of Royal Bank of Scotland (RBS).
The unit, which includes the Direct Line, Churchill, Privilege, UKI and NIG brands, was put up for sale during the summer, [...]

RBS rumoured to talking to CVC capital on insurance sale

by Gill Montia

Story link: RBS rumoured to talking to CVC capital on insurance sale

Royal Bank of Scotland (RBS) is rumoured to be in talks with Luxembourg-based private equity firm, CVC Capital Partners, over the sale of its insurance business.
Both Reuters and The Times have reported that the bank is understood to be negotiating the sale of its Direct Line and Churchill brands and CVC is thought to be [...]

Allstate makes second round bid for RBS insurance business

by Gill Montia

Story link: Allstate makes second round bid for RBS insurance business

Allstate, the US insurance group, is reported to have submitted a bid for Royal Bank of Scotland’s (RBS) insurance business, which includes the Direct Line, Churchill, Privilege, UKI and NIG brands.
The deadline for second-round offers was Friday of last week and according to the Financial Times, Allstate will be offering less than the £7 [...]

RBS holds out for full price on insurance business

by Gill Montia

Story link: RBS holds out for full price on insurance business

In a statement following Royal Bank of Scotland’s (RBS) successful fundraising (in the form of a £12 billion rights issue), the group’s chief executive, Sir Fred Goodwin, said that he is confident of getting a full price for the group’s insurance business.
RBS was caught short when the credit squeeze turned into a crisis because of [...]

Ping An withdraws from RBS Insurance sale

by Gill Montia

Story link: Ping An withdraws from RBS Insurance sale

Bidders for Royal Bank of Scotland’s (RBS) insurance business are now down to five.
Ping An, has withdrawn from the contest, leaving Zurich, Allstate, Travelers, AIG and Allianz to battle it out.
Ping An had been tipped as a strong candidate for a successful acquisition of the business, which could have provided the Chinese insurer with opportunities [...]

Churchill and Direct Line bidders line up

by Gill Montia

Story link: Churchill and Direct Line bidders line up

Royal Bank of Scotland’s (RBS) auction of its insurance businesses, which include Churchill and Direct Line, is reported to have attracted seven bidders so far.
The bank’s advisers, Goldman Sachs and Merrill Lynch, have excluded private equity firms from the sale, which is expected to raise around £6 billion.
Zurich, Allianz and Generali of Italy are thought [...]

Direct Line launches hotelier policy

by Gill Montia

Story link: Direct Line launches hotelier policy

Direct Line has expanded its Direct Line for Business brand with the launch of a policy aimed at owners of small hotels, guesthouses and bed & breakfast establishments.
Applicants will need to be operating from one property and providing accommodation in a maximum of 12 rooms.
Cover includes public and products liability of up to £2 million [...]

Bankinter approaches RBS on sale of Linea Directa

by Gill Montia

Story link: Bankinter approaches RBS on sale of Linea Directa

Royal Bank of Scotland (RBS) is reported to have been approached by Bankinter of Spain about the sale of its stake in Linea Directa, the Spanish insurance business held as a 50/50 joint venture between both banks.
RBS is auctioning its insurance operations in efforts to raise around £4 billion to improve its capital position. The [...]

RBS considers sale of Direct Line and Churchill

by Gill Montia

Story link: RBS considers sale of Direct Line and Churchill

The future of Direct Line and Churchill hang in the balance as their owner, Royal Bank of Scotland (RBS), considers means of raising new capital.
Last week, RBS shareholders were surprised and angered by reports that the bank was planning a deeply discounted rights issue.
Only last month, RBS chief executive, Sir Fred Goodwin, strongly denied suggestions [...]

Insurers withdraw cover for Terminal 5 travellers

by Gill Montia

Story link: Insurers withdraw cover for Terminal 5 travellers

Travellers passing through Heathrow’s Terminal 5 may experience difficulties purchasing insurance for flight delays and lost baggage.
A number of companies are withdrawing cover for those using the £4.3 billion terminal, which has seen various states of chaos since it opened on 27th March.
Problems with baggage handling have led to record baggage mounds plus flight delays [...]