Tag Archives: motor insurance

Direct Line’s prices exceed expectations

Direct Line Insurance, Britain’s largest motor insurer, reported a bigger than expected rise in motor insurance prices for the third quarter, helping to boost its sales. The insurance firm, whose brands include Churchill, Green Flag and Privilege, announced an 8.4 per cent rise in risk-adjusted motor prices. The company also stated it had cut costs by 7 per cent in […]

Cash for crash gang to be sentenced

Six men are due to be sentenced over a multimillion-pound crash-for-cash scam. The men from London and Manchester attempted to defraud insurers out of around £5.6 million by setting up a claims management company, Herald Claims Limited, to file fraudulent or inflated insurance claims after a crash. The Metropolitan Police said they also recruited car owners who would be willing to hand […]

CMA blamed for rising claims inflation

The failure of the Competition and Markets Authority (CMA) to take action over the motor market is partly to blame for rising claims inflation, according to Covéa Insurance chief executive James Reader. The motor insurance market has been hit by rising claims inflation due to several factors including; the fact there are more cars on the road, the economic recovery, […]

Alliance and Maiden expand partnership

Maiden Holdings, Ltd. and Allianz Global Automotive today announced a significant expansion of their long standing partnership focused on developing branded insurance solutions to automotive original equipment manufacturers (OEMs) and their customers. The partnership will bring together the unique skills and capabilities of both companies to assist automotive OEMs to strengthen their consumer value proposition. Forces will be joined across […]

Irish motor insurance market in jeopardy

Insurance Ireland today said it has serious concerns regarding the decision of the High Court in relation to Setanta Insurance and stated that the judgement has far-reaching implications. The Insurance Compensation Fund, which was established in 1964, has historically intervened in the event of insurance company insolvencies. The role of the MIBI (Motor Insurers’ Bureau of Ireland), on the other […]

Uninsured driver numbers soar

The number of uninsured drivers on UK roads has increased by a ‘worrying’ 10 per cent in just a year, according to worrying new figures released today. According to figures from the Motor Insurers’ Bureau (MIB), compensation pay-outs because of accidents involving uninsured drivers increased from 21,972 in July 2014 to 24,213 in July this year. That represents a year-on-year […]

Direct Line guarantees hire car cover

Motor insurance provider Direct Line has launched guaranteed car hire cover as a standard feature of its comprehensive car policy. All new and existing Direct Line customers are now entitled to a new standard hatchback sized vehicle from a hire car company in the event of a claim, at no extra cost. The hire car cover is valid for as […]

Motorists cutting corners with insurance

Thousands of motorists are paying a high price, in some cases driving illegally, by cutting corners when buying motor insurance according to latest figures out today from the ABI (Association of British Insurers). ABI research shows that in 2014 insurers uncovered 212,000 attempted dishonest applications for motor insurance, up 18% on 2013 and equivalent to just over 4,000 every week. […]

New ‘crash for cash’ scam identified

Motorists are being warned about an aggressive new strain of the ‘crash for cash’ scam that is increasingly being used by opportunistic criminals. Dubbed ‘crash for ready cash’ by investigators from anti-fraud specialists APU, the new tactic involves the criminals deliberately causing an accident and then intimidating the innocent victim into handing over money in return for not getting insurers […]

Aviva investigating 15,000 claims

The Actuary reports that Aviva suspects organised motor insurance fraud increased by 28% between 2013 and 2014. The insurer said the value of fraud increased from £30m in 2013 to £38m in 2014, and it currently has more than 15,000 ‘suspicious claims’ under investigation. Tom Gardiner, head of fraud at Aviva, said insurance fraud had implications for premiums. ‘Our figures […]

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