Expert Author: Phil Benson
With the Royal Bank of Scotland deciding to sell its insurance business, experts are predicting this move to trigger other banks into reconsidering whether owning an insurer is a worthwhile strategic policy. Bankers expect that lenders will decide the providing of a vast array of insurance and banking products, is less important than freeing up money tied up in non-core units.
Expert Author: Danielle Fletcher
People who take out payment protection insurance for a loan or mortgage are at risk of being grossly overcharged for the privilege of protecting themselves. A report being carried out by the Competition commission said that there is too little competition within the payment protection industry, meaning that providers are getting away with charging inflated prices.
Expert Author: Mildred Parker
British consumers are being overcharged for Payment Protection Insurance by GBP 1.4 billion a year due to a lack of competition in the market, according to a watchdog. The Competition Commission made the disclosure today adding that the market for the insurance, which protects credit repayments if the holder is unable to work or loses their job, was failing to work competitively, leaving distributors able to charge higher prices.
Expert Author: Carys Robshaw
Research has shown that almost half a million bicycles are stolen every year in the UK. That works out as one bicycles stolen every 65 seconds, almost once a minute. The capital is most badly affected place with four out of the top ten highest risk areas found in London.
Expert Author: Ruth Jacob
A total of 2,500 UK drivers, were put to the test to find out why two out of three accidents are caused on the roads. The survey and results, conducted by the comparison website, uSwitch.com, found that just 1 per cent of respondents, answered all questions correctly. Overall, just over one in three people (34 per cent), scored less than 50 per cent and almost one in ten (8 per cent) got every question wrong.
Expert Author: Mildred Parker
A research by Lloyd’s show that UK businesses could soon be faced with increased litigation challenges following the global credit crunch, which has created a future insurance liability crisis. The report warns that the credit crunch crisis means that the risk of liability insurance for businesses is a real and expensive matter if they do not face up to growing litigation issues.
Expert Author: Lara Sawyer
Many people complain about mortgage insurance costs and how it turns mortgage payments too expensive. Few people know what mortgage insurance is and what it protects you from. It is not that people would stop complaining if they knew but at least they would try and find a suitable insurance company providing a balanced solution in terms of coverage and price.
Expert Author: Barry Edzant
Now that I have reached my forties and am considered to be "middle aged," I find myself reflecting on those things that are most important in my life. I have good health, a successful career, financial independence, and wonderful friends - in short, I'm very fortunate. My family, however, is my highest priority.
Expert Author: Evan T Smith
Coinsurance is a solution to the rising premiums for property and health insurance. For property insurance, coinsurance makes it necessary for the insured to bear a percentage of his losses or expenses which would be inversely proportional to the percentage worth of his insured property.
Expert Author: Sarah Othman
Car insurers are set to make a profit for the first time in 14 years according to a report released this year. They will make a profit in 2009 because of rises in insurance premiums the report has said. This year the industry faces a loss but the market will make a profit of 30 million pounds next year because the cost of premiums will outstrip the cost of accident claims, the Market Analyst Datamonitor revealed.
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