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PPI payout deadline considered
- 02/10/2015
- Posted by: Simon Wait
- Category: News
The UK’s financial regulator, Financial Conduct Authority (FCA) is considering a deadline for claims over mis-sold payment protection insurance (PPI). It expects that PPI customers would have until some time in early 2018, meaning lenders and consumers still have more thna 2 years to make claims and settle [...] -
Changes to GAP influencing behaviour
- 30/09/2015
- Posted by: Simon Wait
- Category: News
Changes to rules governing the sale of GAP insurance introduced on September 1st have already influenced consumer behaviour, says Warranty Direct. The amendments were designed to offer consumers more protection and, primarily, additional time to shop around for the best deal. Dealerships – accounting for 97% [...] -
Quindell reports further losses
- 30/09/2015
- Posted by: Simon Wait
- Category: News
Troubled insurance group Quindell has reported further losses and warned that the damage caused to its reputation by previous scandal is hindering it from making a recovery. The company posted a first-half pre-tax loss of £35.5m, showing almost no improvement on the £35.7m loss it suffered in 2014, on revenues [...] -
Average motor premiums up 4.6%
- 29/09/2015
- Posted by: Simon Wait
- Category: News
The average motor insurance premium rose 4.6% in the year to August, according to market analysis from Consumer Intelligence. However, the same report also states that premiums for under-25’s are down 5.5% thanks to blackbox or telematics technology in cars. The data, which is used by the government’s Office [...] -
Largest insurance growth opportunity revealed
- 24/09/2015
- Posted by: Simon Wait
- Category: News
By 2030, the insurance industry is expected to earn up to $1.7 trillion from women alone - with almost half coming from only 10 emerging economies, presenting a significant business opportunity for sustainable and inclusive growth, according to a new report released today by AXA, IFC, a member of the World Bank Group, [...] -
Covea announce new appointments
- 23/09/2015
- Posted by: Simon Wait
- Category: News
Covéa Insurance has announced two senior leadership appointments. Sue Coffey has been promoted to Director of Intermediated Distribution, Personal Lines and Gary Yeates has been promoted to Director of Pricing & Underwriting, Personal Lines. Both Sue and Gary will report to John Blundell, who, as part of [...] -
AA suffers £63.6m loss
- 22/09/2015
- Posted by: Simon Wait
- Category: News
The AA has fallen to a near-£64m loss in the first half of 2015 as it recorded a pre-tax loss of £63.6m, down from a profit of £10.2m in 2014. The breakdown recovery firm is still struggling to retain customers. Although the rate of decline in its roadside assistance members slowed, its overall revenue dipped [...] -
Telematics considered by 55% of consumers
- 22/09/2015
- Posted by: Simon Wait
- Category: News
Saving money is still the biggest factor in people taking out telematics and data-based insurance motor policies, according to new research from Consumer Intelligence. Although for over half (55%) the saving would have to be over a £100 for them to consider it. The findings also noted that over half the people [...] -
APU helps dismantle car theft ring
- 22/09/2015
- Posted by: Simon Wait
- Category: News
A high-level, international car theft operation that focused on the theft of high value 4x4 vehicles and those equipped with keyless ignition systems, has been broken up by law enforcement agencies and anti-fraud investigators APU Ltd, part of the Automotive Insurance Solutions Group. APU’s blend of covert, [...] -
Street racing on the rise
- 21/09/2015
- Posted by: Simon Wait
- Category: News
Drag racing is becoming increasingly popular among young adults, according to a new study by the Allianz Centre for Technology in Germany. Of the 17 to 24 year old drivers surveyed, 38 per cent reported having participated in a drag race and 41 per cent described their driving style as being sporty or offensive; 51 [...]