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News archive

January 21st, 2015 at 12:00 AM

Car insurance could be set to rise

The cost of car insurance is likely to rise over the next year, according to the AA, and home insurance is probably not going to get any cheaper either. The last quarter of 2014 saw comprehensive car insurance premiums rise by 0.2 per cent, putting...
January 14th, 2015 at 12:00 AM

Insurance premiums climb as petrol prices plummet

Drivers across the country have been amazed by how far and how quickly petrol prices have dropped over recent months, being able to fill up with petrol for just 107 pence per litre. Some young drivers won't ever have seen prices fall below 120ppl,...
January 7th, 2015 at 12:00 AM

New home insurance scheme to cover high flood risk properties

Good news is on the horizon for people owning homes that are classed as a high flood risk. Insurers can often be cagey when it comes to insuring homes that are likely to flood, and in many cases, simply refuse to sell an insurance policy because of...
December 17th, 2014 at 12:00 AM

The Super Bowl could be at threat due to insurance prices

The future of one of the biggest annual, American sporting events, the Super Bowl, is looking dubious as an insurance act is set to expire on the 31 December, and could make the championship financially unviable. Before 9/11, terrorism cover was...
December 15th, 2014 at 12:00 AM

Worrying number of complaints being made about travel insurance

The Financial Ombudsman Service (FOS) is receiving a worryingly high number of complaints about travel insurance claims that aren't being upheld. The FOS is currently receiving approximately 40 complaints per week, about travel insurance companies...
December 10th, 2014 at 12:00 AM

UK watchdog to be criticised over insurance blunder

The UK financial watchdog earlier this year made a blunder that wiped an estimated £6 billion total share prices off insurance companies, and now this is to be addressed as senior executives could get their bonuses cut. These senior executives of...
December 3rd, 2014 at 12:00 AM

Crackdown on insurance fraud may reduce premiums

The government is to set up a new taskforce that will tackle home and travel insurance fraud in an attempt to bring down the cost of premiums for everyone. According to Chris Grayling, the Justice Secretary, the taskforce will radically cut down on...
November 26th, 2014 at 12:00 AM

Insurance industries face changes as Teresa May closes terrorism loophole

Theresa May has revealed plans to help cut funding to terrorist groups like Islamic State (IS) by preventing insurance companies from inadvertently reimbursing ransom charges. The UN estimated that IS received £28m in ransom payments over the last...
November 19th, 2014 at 12:00 AM

Flood victim forced to live on sofas for two years after insurance claim rejected

Tesco has been called out by the Financial Ombudsman service, after it avoided paying a home insurance claim to a flood victim. Helen Gorrill's home, a converted chapel in Cumbria, flooded during a groundwater rise in 2012. For the two years since...
November 12th, 2014 at 12:00 AM

Rolling Stone insurance trial

When insurance companies deal with huge amounts of cash, the industry can appear very cut-throat. An insurance company has made the headlines by battling against the Rolling Stones to not pay out $12.7 million after the suicide of Jagger's...
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