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News archive

April 30th, 2014 at 12:00 AM

Insurance Fraudsters Caught out by Blackbox Scheme

Three lorry passengers who were involved in a minor traffic incident were caught out for making false insurance claims totalling £54,000 by information provided by a blackbox. The lorry was driving at relatively low speeds when a Vauxhall Astra ran...
April 16th, 2014 at 12:00 AM

Ability Net Claim Insurer Websites Discriminate Against the Disabled

Some insurers are leaving themselves open to potential lawsuits by not making their websites easily accessible to the disabled. As annoying as trying to fill out all the online forms to get an insurance quote is, for some disabled people it goes...
April 9th, 2014 at 12:00 AM

New RAC Based Black Box Deal to Reduce Insurance Prices

The RAC and the technology group Quindell are working together to market and install black boxes in people's cars, tracking their driving and building up a profile which can then be used when negotiating insurance quotes, potentially getting...
April 2nd, 2014 at 12:00 AM

FCA Leak Wipes GBP6 Billion off Insurance Share Prices

Last week saw an information leak by the Financial Conduct Authority (FCA) that revealed planned investigations into the insurance industry. The leaked information led to a reported £6 billion being wiped off the share prices of the largest...
March 26th, 2014 at 12:00 AM

RSA to raise Capital with a Rights Issue

RSA insurance have hit financial difficulty and are looking to raise £773 million via rights issues in order to stabilise the group after a loss of £244 million in 2013. The company is issuing rights to its current shareholders that will enable...
March 20th, 2014 at 12:00 AM

Floods Affecting Insurance Prices

It was hard to miss the news of the floods that washed out Britain at the start of this year, especially in regards to the disaster on the Somerset Levels. Experts now feel that, as predicted, insurance costs are going to rise. Put simply, people...
March 12th, 2014 at 12:00 AM

Zurich to Cut 800 Management Jobs

One of the biggest Swiss insurers, the Zurich Insurance Group, will be cutting 800 jobs by the end of 2015 in an attempt to save money. An overhaul of the business will aim to make savings of $250 million per year. The 800 jobs that will be lost,...
March 5th, 2014 at 12:00 AM

Admiral Profits Solid not Flashy

Admiral Insurance have released its financial statement from last year and it has shown profits that are "solid not flashy". Admiral is the second biggest car insurer in the UK and is based in Cardiff. The annual profits jumped over 2013. Pre-tax...
February 26th, 2014 at 12:00 AM

Direct Line profits rise over fewer insurance claims

Direct Line has reported a rise in its full-year profits, as it recorded fewer home insurance claims. The insurer also tapped into reserve releases to counter a decline in car insurance premiums, according to Reuters. Its pre-tax profit surged by...
February 25th, 2014 at 12:00 AM

Customer car insurance accident details stolen

Insurer Aviva is writing to tens of thousands of motorists, following concerns that two employees sold customers' details to claims companies. Hundreds of customers, who recently had accidents, have received calls from firms to persuade them to take...
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