The Office of Fair Trade (OFT) has said it will investigate the rising cost of car insurance premiums as well as costs for repairs after accidents and of replacement cars for accident victims while their cars are being repaired. The inquiry comes even though the OFT says that premiums have not risen as much as [...]
A ruling by the European Court of Justice earlier this year means that women in the UK will likely see their car insurance premiums rise next year. In March, the Court ruled that gender must not be taken into account when figuring risk factors for insurance costs because doing so violates European Union rules regarding [...]
Emergency home repair insurer Homeserve (LSE: HSV) seems to be recovering after suspending outgoing sales calls recently after an investigation over misselling policies, even though the company’s shares dropped around 53 percent of their value after the investigation was announced. The investigation came after allegations that the insurer was not clearly and adequately disclosing pricing [...]
Homeserve, which sells insurance on home emergency repairs, saw shares drop by almost a third of their value Monday after it was accused of misselling policies to customers over the phone and closed down sales on Friday. The loss amounted to 27 percent, or £500 million of its value, on the session for the firm [...]
According to motoring group AA, premiums for car insurance dropped slightly in the third quarter of the year, falling 0.3 percent for the three months ending 30 September, although it also reported that buildings insurance premiums were up 4 percent in the third quarter. In contrast, premiums had gone up by 40 percent in the [...]
The Financial Ombudsman Service (FOS) has said that complaints regarding payment protection insurance (PPI) were down significantly in the third quarter, cutting the total number of complaints to the FOS in the quarter even though other types of complaints were up 24 percent in the quarter. There were only 19,259 new PPI complaints to the [...]
A new survey from ABTA – The Travel Association shows that 20 percent of British travelers going abroad do not purchase travel insurance, while only 44 percent of travelers within the UK buy such insurance, not only putting their money at risk if they have to cancel their trip, but leaving them inadequately covered if [...]
New figures from the Financial Ombudsman Service (FOS) show that complaints about banks were up in the first half of the year, rising 54 percent from the same period last year to a total of 149,925 complains, 98,632 of which had to do with problems with Payment Protection Insurance (PPI). The rise in complaints regarding [...]
UK banks have largely met an end-of-August deadline for dealing with a huge backlog of complaints from customers over the misselling of payment protection insurance (PPI). The deadline was set by the Financial Services Authority (FSA) after an April High Court Ruling that went against the banks, and now fewer than 6,000 of the 200,000 [...]
Aircraft, property, oil rig and ship insurer Lancashire Holdings (LSE: LRE), one of the largest insurers listed in London, has said it will return its tax base from Bermuda to the UK in anticipation of changes to corporation tax rules regarding controlled foreign companies. Lancashire qualifies for a three-year exemption from rules for taxes on [...]
