Life insurance business shut down, cutting 139 jobs

Closed life insurance business

Scotland’s largest insurer will be eliminating its U.K. unit as it moves away from the sector. Standard Life Plc, the biggest insurer in Scotland, will be leaving the life insurance industry, leaving 139 people from its United Kingdom unit out of a job. The majority of the positions will be lost in Scotland, within several different divisions. Standard Life insurance jobs will be lost in the marketing and advising divisions, as well as in information technology, according to a statement from the company. The insurer has said that it has…

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Insurance news in the E.U. shows consumers preparing for G-Day

Insurance News Profits

Starting in December, the massive upheaval in premiums will kick in as gender is no longer a coverage factor. The insurance news that will rock the European Union next month will explode as policyholders open their bills and discover that the premiums that they had previously been quoted will experience a notable difference. A European Court of Justice ruling has said that gender cannot be used to calculate premiums. This means that insurers will no longer be able to take into account whether a customer is a man or woman…

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Auto insurance company cuts Martin Clunes from its campaigns

Martin Clunes auto insurance

The actor, known for “Men Behaving Badly”, was dropped after being banned from driving. Martin Clunes has been dropped from the campaigns of Churchill auto insurance following a court decision that has banned him from being allowed to drive. The actor has been seen in the insurer’s ads since December 2011. The commercials, that featured Clunes next to a nodding dog, will no longer include the actor from Men Behaving Badly. This makes him only the most recent celebrity to have been dropped by the auto insurance company. The voice…

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Insurance news from London has insurers under fire due to riots compensation

Riot Insurance claims News

Many policyholders have faced significant delays in receiving their payments. In August of 2011, businesses throughout London were faced with significant damage due to massive rioting throughout the city, and the latest insurance news has shown that many have not yet been compensated by their insurers. It is estimated that one third of the businesses hadn’t received anything four months after making a claim. One out of every three claims made by businesses following the rioting have made insurance news because they hadn’t received a single penny to help to…

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Insurance news from Lloyds shows that mis-sold loan policies will cost $1.6 billion more

Financial Lyme Disease Insurance News

The scandal will now have cost the company approximately £5.3 billion. Lloyds Banking Group has just released their latest insurance news statement regarding the mis-sold loan policy compensation, which now involves an additional $1.6 billion (£1 billion), bringing the total amount of these payouts up to £5.3 billion, which has yanked its numbers downwards to result in a third quarter loss. However, the largest retail bank in the U.K. is still optimistic and is encouraging customers to remain that way. Lloyds has released a positive message regarding the decreasing losses…

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