Latest insurance news
Huge rises in car insurance premiums for city motorists
Car insurance premiums have seen a steep 14% increase in the past year according to the AA British Insurance Premium Index. This is the highest rate increase on record and average premiums for comprehensive motor cover jumped by 5.6% in the third quarter of the year, the biggest quarterly increase since the AA first started monitoring the market in 1994. A City Car Club survey showed that mostly t... [more]
Drivers struggle to understand the terms used in their car insurance policy
According to research by swiftcover.com, almost one in five drivers (18%) think car insurance policies are purposely designed to confuse them. The survey found that 42% of Brits struggle to understand the terms used in their car policy, leaving them uncertain over what they are actually covered for. Nearly a quarter of people (23%) have no idea what voluntary excess means, despite the fact that... [more]
Holidaymakers must make sure they have adequate travel insurance
Sainsbury’s Travel Insurance estimates that some 11.3 million Britons, over a third (37%) of those who went on holiday this summer, did so without any travel insurance to cover their trip. The new research from Sainsbury’s Travel Insurance indicates that those under the age of 34 were most likely not to bother buying travel insurance. With the travel insurance industry paying out just under £40... [more]
Carole Nash enters military vehicle market
Carole Nash has entered the military vehicle market pledging to repeat the success it achieved in the highly specialist motorcycle insurance sector where it is market leader. And it says its new policies have been directly influenced by feedback from military vehicle owners themselves. “Prior to launch we conducted extensive research which included taking our draft proposals out to enthusiasts.... [more]
Get £30 off your car insurance when you buy at least 30 litres of TOTAL EXCELLIUM
TOTAL has partnered with swiftcover.com to give away £30 off car insurance when you buy at least 30 litres or more of its advanced fuel TOTAL EXCELLIUM (unleaded or diesel fuel). From now until 3rd November 2009, customers will be given a voucher when they buy 30 litres or more of fuel at selected TOTAL forecourts. This voucher can then be redeemed online when purchasing car insurance with s... [more]
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Hartford swings to $557m profit in Q4
The Hartford Financial Services Group reported fourth-quarter earnings of $557m late Monday, compared to a loss of $806m for the same period a year earlier, as revenues in its property and casualty division showed improvement
Lloyd's of London to broaden range
Lloyd's of London will broaden its product range to counter the shift towards catastrophe risks, especially in the US
Keycorp's Hancock to oversee AIG risk
Keycorp vice-chairman Peter Hancock is to join the US government-owned insurer in a new role that will position him as a potential successor to the chief executive
Pension Corp set to seal capital raising
The specialist insurer is close to finalising a £600m fundraising as it looks to capitalise on the increasing desire of UK companies to offload their pensions liabilities
Hopes fade for bipartisan financial reform bill
Hopes that the US Senate would pass bipartisan financial reform legislation faded after a top Democratic lawmaker said talks with his Republican counterpart had reached an 'impasse'
Aviva adds to upbeat insurance results
The insurance company added to optimism in the sector after reporting results that were better than expected thanks to an upswing in savings
Confident ZFS raises dividend by 45%
The Swiss insurer has been one of the few international insurers to come through the financial crisis, as it reported strong profits and a substantial dividend increase
Liberty offloads pension fund
The property group has signed a £61m buy-out deal with Pension Corp, becoming one of a handful of UK companies to end exposure to defined benefit pension schemes
Standard Life exceeds sales forecasts
Insurer kicks off a series of trading updates from the sector on an optimistic note, announcing a smaller-than-expected decline in sales last year
German reinsurance
The success of Munich Re and Hannover Re points to one of the few areas in financial services that have cash to spare
Other insurance news
Keep workplace health insurance after you leave
Individuals risk weakening their private medical cover by not staying with their workplace health insurer if they have been made redundant, resign or retire.
Standard Life holds with profits bonus rates
Standard Life has become the latest life office to freeze bonus rates for its with-profits policyholders, with investors seeing a wide variation in the returns on their plans.
Zurich to increase motor premiums by 20%
Motorists are being warned to expect steep rises in their insurance premiums this year after a major provider raised its rates by 20 per cent
Aviva freezes with profits bonus levels
Aviva, the the country's largest with profits provider, defended its investment strategy as it froze regular bonus levels for millions of policyholders against the backdrop of double digit stockmarket recovery.
Tougher line on online insurance
Millions of consumers buying insurance online should expect clearer information about policy excess levels and realistic premium quotes under new guidance for the sector.
Insurers release data on pay out rates
Insurers have for the first time released official data on the pay out rates for criticial illness cover (CIC) and life insurance policies, with the industry now on average paying more than 90 per cent of claims.
More providers offer post code annuities
Pre-retirees living in affluent areas are being urged to shop around for an annuity if they smoke or have a medical condition as more providers introduce post code ratings for pensions.
L&G offers premium discounts for cancer
Legal & General (L&G) has become the latest insurer to offer premium discounts on its critical illness cover (CIC) for policyholders who have a history of cancer.
More options for paying care fees
Long-term care providers have new incentives for individuals to take out plans which will cover the costs of care in later life, with some now offering money back guarantees on annuities.
Flood insurance not waterproof
Thousands of householders who suffered flood damage to their properties during recent storms were advised to think carefully about cancelling existing cover if their premiums rise as they could struggle to find a new policy elsewhere.
