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S&P raises Ageas Insurance rating
- 10/11/2015
- Posted by: Simon Wait
- Category: News
Standard and Poor’s (S&P) has raised the rating of Ageas Insurance Limited (AIL) to ‘A’ with a stable outlook, confirming confidence in the financial strength of the business. The announcement follows confirmation in May this year that S&P had granted AIL an A- rating with a positive outlook, [...] -
Zurich announces 440 job cuts
- 09/11/2015
- Posted by: Simon Wait
- Category: News
Zurich today announced proposals to cut up to 440 jobs in its UK general insurance business as part of a programme to reduce costs in the organisation and simplify its operating structure. The UK insurance market has become steadily more challenging and the drivers for this – including low investment returns and [...] -
Quindell plan on name change
- 09/11/2015
- Posted by: Simon Wait
- Category: News
Insurance technology company, Quindell, is planning to change its name to Watchstone Group, pending shareholder approval. The firm is also planning a 10-for-one share merger and a reduction of shareholder capital as part of the previously announced £414m payment to shareholders. A general meeting will be held on [...] -
Bradford bodyshop involved in insurance scam
- 09/11/2015
- Posted by: Simon Wait
- Category: News
The owner of a bodyshop that boasts of clients such as top footballers and music superstars, has paid back tens of thousands of pounds to an insurance company after it was found to be involved in an alleged ‘cash-for-crash’ scheme. The Yorkshire Post reported that Naveed Khan, the founder of Enkahnz in [...] -
JLR to cut costs by £4.5 billion
- 09/11/2015
- Posted by: Simon Wait
- Category: News
Luxury carmaker Jaguar Land Rover (JLR) has launched a secret project to cut costs of £4.5 billion ($6.8 billion) and build 1 million cars per year by the end of the decade, reports the Sunday Times. The project, dubbed Leap 4.5, will entail building more cars on similar core skeletons, overhauling the carmaker's [...] -
Two men sentenced for staging crash
- 06/11/2015
- Posted by: Simon Wait
- Category: News
Two men who met and became friends in prison were yesterday (Thursday, 5 November) sentenced at the Old Bailey after staging a ‘cash for crash’ accident in order to claim over £16k on their car insurance. Kais Bougoussa, aged 46 (1/5/69) from Stratford Road, E3 pleaded guilty to conspiracy to commit fraud by [...] -
IFB launches landmark consultation
- 04/11/2015
- Posted by: Simon Wait
- Category: News
The Insurance Fraud Bureau (IFB) has taken a landmark step towards extending its services to defendant lawyers, investigators and other industry suppliers, by launching a consultation on ‘affiliate membership’. The consultation, launched today, invites suppliers assisting insurers in the fight against fraud to [...] -
Direct Line’s prices exceed expectations
- 03/11/2015
- Posted by: Simon Wait
- Category: News
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 [...] -
TP insurance holders pay more
- 02/11/2015
- Posted by: Simon Wait
- Category: News
Motorists are being warned not to assume that third-party insurance will be the cheapest option after research found they were being quoted up to £4,000 a year more for policies that offer less cover than fully comprehensive plans, according to The Guardian. Around nine in 10 drivers choose comprehensive motor [...] -
Insurance premiums increase by 4.8%
- 26/10/2015
- Posted by: Simon Wait
- Category: News
Car insurance premiums have risen by 4.8% in the third quarter of 2015, according to the latest AA British Insurance Premium Index. The AA has said that the average ‘shop around’ quote for car insurance had risen to £569, an increase of £26 over the three months ending 30 September, and the second successive [...]