Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 21st of August 2017
September 6, 2012

LV= partners RAC with protection products

by Gill Montia

Story link: LV= partners RAC with protection products

LV= has signed a five-year partnership agreement with motoring service provider, RAC. Through LV=, RAC will offer its customers a telephone-based advice service on protection products (income protection, critical illness and life cover) and issues such as inheritance tax planning. Customers will also be able to purchase term life and 50 Plus products via the […]



July 9, 2012

ACE and RAC form partnership

by Richard Kilner

Story link: ACE and RAC form partnership

ACE Group has announced that it has entered a partnership with RAC in the UK, whereby it will offer travel insurance under the RAC brand. RAC has seven million private and corporate members to whom it provides a wide range of motor-related services. The new travel insurance offering will be provided via a dedicated online […]



September 30, 2011

Young drivers inseparable from smartphones

by Gill Montia

Story link: Young drivers inseparable from smartphones

Department for Transport proposals for increasing the speed limit on motorways to 80mph in recognition of improved vehicle technology should also take account of new figures on in-car distractions, as set out in the RAC’s 2011 Report on Motoring. According to the RAC, the problem of smartphone use amongst drivers aged 18 to 24 years […]



June 23, 2011

Aviva sells RAC for £1bn

by Gill Montia

Story link: Aviva sells RAC for £1bn

Aviva has agreed to sell RAC to Carlyle Group. The UK’s second-largest roadside assistance provider will change hands for £1 billion and the transaction should be completed by the end of the year. Carlyle Group, which is described as a global alternative asset manager, says it will be “fully supportive” of the RAC management team […]



March 30, 2011

Pothole hazards increase

by Gill Montia

Story link: Pothole hazards increase

A survey of 20 UK councils by Aviva’s RAC unit has revealed that road conditions across the country continue to decline. Government cuts have forced many councils to undertake short-term repairs, rather than the permanent variety, with 12 of the councils questioned (including nine in rural areas) having made the switch. The strain is being […]



December 10, 2010

RAC offers new way to get breakdown cover

by Richard Kilner

Story link: RAC offers new way to get breakdown cover

Motorists can now take advantage of a revolutionary new approach to breakdown cover, launched by the RAC. The firm is offering a unique retail gift card which provides cover for a single breakdown incident, at a cost of £29 and valid throughout the UK. RAC has collaborated with gift card firm InComm to distribute the […]



November 24, 2010

Cost of car ownership up £346 a year

by Gill Montia

Story link: Cost of car ownership up £346 a year

The cost of car ownership has increased by 6.3% in the last 12 months, amounting to £346 for the typical motorist. Higher fuel prices, rather than insurance premiums, were the single biggest contributor to the rise (33%) according to the RAC’s latest Cost of Motoring Index. Filling the tank relieves the typical motorist of £1,300 […]



November 18, 2010

RAC urges motorists to prepare for winter

by Richard Kilner

Story link: RAC urges motorists to prepare for winter

With the weather growing colder and winter beginning to settle in, RAC has advised motorists to prepare their vehicles for the cold and snowy conditions. RAC has recalled the numerous difficulties motorists faced last year, when the UK suffered a prolonged and especially cold winter, including getting stuck in snow, insufficient fuel and being unable […]



October 14, 2010

Surge in drivers using mobiles behind the wheel

by Richard Kilner

Story link: Surge in drivers using mobiles behind the wheel

There has been a substantial increase in the number of motorists sending and receiving texts whilst driving, with a rise from 11% to 31% over the course of a year. During the same timeframe the proportion making telephone calls increased from 8% to 28%, according to the 2010 RAC Report on Motoring. Almost four in […]



October 12, 2010

Heath Lambert and RAC launch household products

by Richard Kilner

Story link: Heath Lambert and RAC launch household products

Insurance affinity schemes specialist Heath Lambert and RAC have signed a 5 year agreement to launch a household suite of products in 2011. Heath Lambert was selected by RAC due to its excellent track record in affinity partnerships, as well as its strong presence in the households market. Heath Lambert’s panel and home product expertise […]



April 20, 2010

Aviva to ditch final salary pension scheme

by Gill Montia

Story link: Aviva to ditch final salary pension scheme

Aviva is proposing changes to its UK staff pension arrangements for employees of both Aviva and the group’s RAC business. The insurer has been reviewing its pension commitments in light of the future funding requirements, and wants to switch 7,600 staff from final salary benefits to money purchase arrangements, from 1st April 2011. Under the […]



September 22, 2009

Aviva reveals UK’s most annoying driving habits

by Gill Montia

Story link: Aviva reveals UK’s most annoying driving habits

Aviva’s RAC unit is attempting to improve the behaviour of the British motorist by launching a Road Respect campaign. Research by the insurer has established that a third of drivers get mad at other road users three times in a week. For drivers who are unaware of possessing any bad habits, the survey has also […]



July 15, 2009

Aviva reveals motorists’ drink and drug vices

by Gill Montia

Story link: Aviva reveals motorists’ drink and drug vices

New research from Aviva suggests that one in four 17 to 24-year-olds have been in a car when they believed the driver was under the influence of drugs. The group’s 2009 RAC Report on Motoring also reveals that 10% of young drivers questioned had driven while under the influence of drugs, while 5% admitted to […]



January 20, 2009

RAC adopts panel approach to car insurance

by David Masters

Story link: RAC adopts panel approach to car insurance

Motoring group the RAC is able to offer more competitive car insurance deals after changing its distribution model from direct proposition to an affinity partnership. Previously RAC car insurance was solely underwritten by its owner, Norwich Union. Now, however, RAC has signed a contract with affinity specialist Junction. Junction will run a panel of up […]



January 15, 2009

HPI Limited acquired by Solera

by David Masters

Story link: HPI Limited acquired by Solera

Solera Holdings has completed its £78.3 million acquisition of UK-based HPI Limited. The deal included £67 million paid in cash, and £11.3 million paid in a subordinated note. The subordinated note carries an 8% annual interest rate, and is payable in full on 31st December 2011. An additional £4.8 million will be paid to HPI’s […]