Live Insurance News

Travel insurance purchased by fewer U.K. vacationers

June 18, 2013June 15, 2013 Julie Campbell

The latest figures are indicating that one quarter of vacationers are not covered when they go abroad. According to the latest data released by the Association of British Travel Agents (ABTA), one in every four vacationers traveling abroad from the United Kingdom has not purchased travel insurance protection. This figure shows that there is a rapid trend moving away from purchasing the coverage in recent years. The data indicated that from 2011 to 2012, the number of holidaymakers without travel insurance rose at a dramatic rate from having been 20…

What Insurance Am I Legally Bound To Carry?

May 12, 2013February 15, 2014 Guest Author

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…

Landlord insurance recommended to help protect investments in the UK

April 22, 2013April 20, 2013 G. Turner

Property owners who are renting out have been advised to make sure they have coverage against floods. Experts in the landlord insurance sector of the industry are reminding the owners of rented properties in the United Kingdom about the importance of protecting their investment, particularly against perils such as flooding, which have become an increasing problem over the last few years. They are reminding these owners that a policy could make the difference between the life and death of their investments. Flooding is already becoming a growing issue in the…

Insurance news from Lloyds of London includes fine for $6.7 million

February 21, 2013April 30, 2013

Another penalty was decided upon due to the mis-sold policies in the United Kingdom. The financial regulator in Great Britain has issued a fine to Lloyds Banking Group, making leading insurance news as the insurer failed to appropriately manage the complains connected with the policies that were sold on mortgages and loans. This fine has been decided to be £4.3 million ($6.7 million) due to the company’s failings in systems and controls. According to the Financial Services Authority (FSA), the bank failed to implement and use systems and controls that…

Crop insurance push made by farmers to U.K. government

January 3, 2013April 30, 2013

The National Farmers Union has estimated that last year’s rains came with a £1.3 billion price tag. The record breaking rainfall that was experienced in the U.K. in 2012 has cost farmers across the country an estimated £1.3 billion as a result of poor harvests and the more expensive price of feed for cattle that ensued, leading farmers to ask the government for crop insurance against extreme weather events. This request is meant to help the country to be able to uphold its national food security. Data from the National…