Tag: uk auto insurance

Auto insurance fraud is causing trouble in the UK

Nordstrom
auto insurance fraud

New report shows the prevalence of insurance fraud throughout the United Kingdom The Association of British Insurers has released a report concerning auto insurance fraud in the United Kingdom. According to the organization, some 500 people lie on their insurance applications forms every day. The report shows that in 2013, 3,500 fraudulent applications were filed with insurance companies every week. These applications contained information that was inaccurate, if not outright incorrect. Applicants often left out important information that would determine the cost of their insurance coverage. Fraudulent insurance applications are…

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Telematics begins to have a major impact on auto insurance sector

S.Vagus
auto insurance usage based

Reed prepares to close deal on Wunelli Reed Elsevier, a leading information technology company, is preparing to finalize the acquisition of Wunelli, a developer of telematics solutions for the auto insurance sector. Telematics is becoming very popular in the insurance industry because of how it can be used by insurers to price policies more accurately. Demand for this technology has been growing steadily over the past few years and has reached an all-time high as insurance companies continue to look for ways to mitigate losses while also providing high-quality services…

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Auto insurance prices in U.K. continue to drop

H. Cutner
Auto Insurance Savings

According to the A.B.I., the average amount paid to cover a vehicle is still on its way downward. The cost associated with purchasing and owning auto insurance in the United Kingdom has dropped another 9 percent over the last year as a growing number of consumers are using the resources available to them over the internet to be able to comparison shop and find better rates. This, according to a survey which also credits fewer claims into the dropping premiums. The data was provided by the Association of British Insurers…

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Auto insurance scam popping up throughout UK

H. Cutner
auto insurance flash and crash fraud

Drivers are being cautioned about a new kind of fraud called “Flash and Crash” by the industry. Auto insurance industry officials in the United Kingdom are cautioning motorists regarding a new type of scam that has developed and that is becoming more widespread in the country, called “flash and crash”. The scam involves tricking drivers into thinking that a good Samaritan is helping them out. The way that the auto insurance scam functions is that the fraudsters wait for victims to start to drive out of parking lots, gas stations,…

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What Insurance Am I Legally Bound To Carry?

Guest Author
Insurance Directory

With all the news about PPI or referred to as Payment Protection Insurance being mis-sold around the world, there can be some confusion as to what insurances we are required by law to have; and that number is very small. PPI was not required in most instances, if not all instances, for a loan to be approved. Yet people were told this and subsequently felt they had to have the insurance in order to be approved for the loan. And the mis-selling began. But what insurance policies are required by…

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