Tag: uk insurance news

Aviva makes insurance news by releasing its plans to ride out the economy’s downturn

Dan
Insurance technology and news

The insurer will be trimming the fat to survive the downturn. Aviva, the number 2 insurer in the United Kingdom, is making insurance news by selling nearly a quarter of its businesses in a dramatic effort to rebuild investor support following struggles with its declining share price. The company’s new chairman, John McFarlane, hopes that this shake-up will be just what is needed. McFarlane stepped in following the removal of Andrew Moss in May 2012, when Aviva’s stock performance was strikingly weak. He will be taking the axe to sixteen…

Read More

Payment protection insurance sparks disputes in the United Kingdom

Nordstrom
Homeowners insurance New Jersey

UK PPI coverage the subject of controversy The United Kingdom’s Financial Ombudsman Service, a mediation organization that works to settle disputes between consumers and UK businesses, has released information concerning the population’s stance on payment protection insurance (PPI). PPI is a type of insurance that is meant to protect loans and ensure repayment. This type of insurance is quite popular in the UK, but not amongst consumers. It is being reported that UK consumers are complaining about this type of insurance coverage, and the companies providing the coverage, in droves. Claims that…

Read More

Negligent parking makes insurance news as innocent drivers pay the price

Nordstrom

A recent study is making insurance news as it indicates that the cost of collisions has now added £1.3 million worth of damage to cars – A cost which must eventually be paid through the premiums of policyholders. Moreover, the study showed that only 1 in every 6 drivers said that they would leave their insurance information for the damaged car owner, and among them, 45 percent said that they would do so only if it looked like the damage was serious. Most of the careless parking incidents appeared to…

Read More

Allianz announces the release of a new online home insurance protection

H. Cutner

Allianz Insurance has announced that it is now offering a new home insurance product in Europe that is available exclusively online and offers customers the ability to construct a policy that is customized to their unique needs. The new home insurance product called “Your Cover” helps customers to buy the most basic level of comprehensive coverage, upon which they can add up to 11 additional optional forms of coverage – such as home business coverage, identity fraud protection, 24-hour home emergency assistance, and sports equipment insurance – in order to…

Read More

More than half of U.K. motorist have serious gaps in their insurance coverage

Nordstrom

The results of a recent survey performed by ALA, an independent insurance broker, has determined that over 75 percent of drivers in the United Kingdom do not have enough auto insurance to cover them if their vehicle were ever to be stolen or written off.     According to the survey entitled “Mind the Gap”, the issue among British drivers is that 77 percent of them have not obtained enough coverage to match the value of their vehicle – or at a bare minimum, very affordable financing – should it need to…

Read More