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Article Archives: from "Sorry everyone, slow news day", to "Tables Turn on Women Drivers after Retirement". †
Sorry everyone, slow news day - 26.10.09
>>>> The Financial Services Authority have said that banks must hold more capital as insurance against any future collapse. They have been asked to draw up a "living will" by then end of the year to outline how they will wind down their business if they fail. It needs to show how deposits will be split from se ... [Metasearch: Sorry everyone, slow news day]
Mohamed Al Fayed, Rape Victims & Holidaymakers all set to receive compensation - 27.10.09
>>>> France has been ordered to pay £5,000 compensation to Mohamed Al Fayed over the death of his son Dodi in the 1997 crash which also killed Diana, Princess of Wales. He had asked for £1m after saying that the investigation into the crash had been flawed, however after a 5 year investigati ... [Metasearch: Mohamed Al Fayed, Rape Victims & Holidaymakers all set to receive compensation]
A Barclays win in the PPI battle - not that the banks were really losing - 27.10.09
The Competition Commission has had its sights on Payment Protection Insurance (PPI) for more than two years following incidents of mis-selling and compensation being awarded. This led to them placing a ban on the selling of PPI alongside loans. This ban has now been overturned after Barclays chose to test t ... [Metasearch: A Barclays win in the PPI battle - not that the banks were really losing]
Standard Life sells to Barclays - 28.10.09
>>>> Aviva has found that 51% of farmers have diversified in the last year, adding £400m worth of diversified income to the industry. 36% of these have gained extra income from letting outbuildings as farm shops, storage or other commercial ventures. This has generated 68% of all diversified income. Aviv ... [Metasearch: Standard Life sells to Barclays]
Mis-selling, Mis-informed, Mis-led - 29.10.09
>>>> The FSA has reported that some market linked investments which offer impressive returns may well have been mis-sold. Known as derivatives, these investments are the same types as were sold to the Lehman Brothers investors before their collapse. The FSA have said that 46% of the Lehman backed investments w ... [Metasearch: Mis-selling, Mis-informed, Mis-led]
"My SatNav made me do it officer" - 29.10.09
SatNavs are proving to be much more dangerous than anyone could have foreseen. People appear to be much more reliant on them than is safe and are letting common-sense fly out the window in favour of taking directions from a well spoken machine. Indeed, it is difficult to find someone who has not described thei ... [Metasearch: "My SatNav made me do it officer"]
MPs Wives, Scottish Prisoners, RBS Shares & Postal Strikers looking for letters - 30.10.09
>>>> It has been suggested that the wives of MP's who work alongside their husbands may ask for redundancy and compensation should they be forced to leave the positions. Part of the new rules for MP's would be a ban on relatives working for them. It is thought by leading solicitors that the relatives ma ... [Metasearch: MPs Wives, Scottish Prisoners, RBS Shares & Postal Strikers looking for letters]
Britain prefers compensation payouts to safe, happy lives - 02.11.09
>>>> It has been revealed that the families of the 14 service men killed in the Nimrod plane crash may have to wait for another year before they receive any compensation. This is despite a report yesterday finding that the plane exploded due to safety issues compounded by financial considerations. The families ... [Metasearch: Britain prefers compensation payouts to safe, happy lives]
RBS to try and sell Churchill and Direct Line ... again - 03.11.09
>>>> According to a report issued by AXA Insurance, the UK is bottom in terms of pension provision out of all the G7 countries. The report shows that two thirds of people in the UK are planning on relying on the state for their pensions even though it is only currently 31% of average earnings. This is well beh ... [Metasearch: RBS to try and sell Churchill and Direct Line ... again]
Watchdog, Homes from Hell, Rogue Traders - We still haven't learned - 04.11.09
Once again the effects of the credit crunch can be seen in the rise in reports of rogue traders, often targeting the elderly. These rogue traders usually turn up on the victims doorsteps offering seemingly cheap rates for work which usually ends up costing much more than expected.
The TV is full of ... [Metasearch: Watchdog, Homes from Hell, Rogue Traders - We still haven't learned]
Thrifty Scots lose their title - 04.11.09
>>>> Scots are being urged by Aegon Insurance to think more about their future and save more. The insurer has found that 42% of Scottish households do not have any savings and even 23% of those households who earn more than £30,000 a year fail to save. Aegon points out that the Scots, traditionall ... [Metasearch: Thrifty Scots lose their title]
Freezing your baby's umbilical cord blood and tissue - 05.11.09
>>>> A Cheshire family have become the first in the UK to cryogenically freeze their new baby's umbilical cord blood and tissue as a health insurance policy for their child's future. Mum, Paula Daniels who works at a private birth centre in Northwich paid £2000 to have the blood and tissue stored ... [Metasearch: Freezing your baby's umbilical cord blood and tissue]
Aviva Refuse to buy RBS whilst sales are dropping - 06.11.09
>>>> Insurance giant Aviva have released figures which show that their global sales have dropped by 11% in the 9 months to the end of September 2009. In addition, their UK life and pensions have dropped by 25%. They have described the UK market as very challenging and say that people are focussing on debt repa ... [Metasearch: Aviva Refuse to buy RBS whilst sales are dropping]
UK Owes Developing Countries £17bn in "Climate Compensation" ... apparently - 09.11.09
>>>> It has been reported by climate change action groups that the UK Government owes developing countries more than £17bn a year in "climate compensation". The figure is based on the UK's current emissions which are 6% of the total. The good news is, of course, that when the UK has it's emissions ... [Metasearch: UK Owes Developing Countries £17bn in "Climate Compensation" ... apparently]
"Up to 75% No Claims Discount!" they shout ... "up to"? - 09.11.09
If you are a careful driver and have not claimed on your insurance for more than 5 years then you will quite rightly expect a hefty discount on your insurance. But when an insurer markets to you with offers such as "up to 75% no claims bonus", how often does that "up to" part come in to play? Are you receiving ... [Metasearch: "Up to 75% No Claims Discount!" they shout ... "up to"?]
Banks, Insurers, Homeowners ... everyone is suffering - 10.11.09
>>>> A survey conducted by Swinton Insurance has shown that van drivers will spend on average, two hours searching for a suitable insurance quote. The poll of 1000 van drivers found that it is now taking 30 minutes longer than last year. This is the first time in five years that the amount of time spent search ... [Metasearch: Banks, Insurers, Homeowners ... everyone is suffering]
Sex Discrimination & The Elderly Won't Quit - 11.11.09
>>>> It is estimated that 1.8 million people will be working past the state retirement age in ten years time according to research conducted by Prudential. The current number is just 750,000 people. The results of the survey of 500 company directors also showed that the trend was more obvious in larger compani ... [Metasearch: Sex Discrimination & The Elderly Won't Quit]
"We stopped payments because you are dead" ... "I'm not dead!" - 11.11.09
With the recent results from the Financial Services Association showing an increase from 62,000 to 127,000 in complaints made about insurance companies during the period between 2006 and 2008, the insurance industry seems to be losing the battle when it comes to winning the hearts and minds of the custo ... [Metasearch: "We stopped payments because you are dead" ... "I'm not dead!"]
Violent Criminals Receiving Injury Compensation, Lawyers Taking Sick Miner's Money .. - 12.11.09
>>>> Lloyds Bank have announced that they expect to lose 5000 jobs over the next year, 1000 of which will be in Scotland. The jobs will be across the group operations, insurance and mortgage processing parts of the business. Lloyds have said that they expect some jobs will be redeployed and some will be tempor ... [Metasearch: ... and Bonus-Grabbing Bankers Firing Lower Level Staff]
Towergate Closes, Brit Insurance Leaves the UK and Kwik Fits Plays them out - 13.11.09
>>>> Brit Insurance has confirmed it is to move to the Netherlands and will relist as a Dutch firm in December. It will be taxed in the Netherlands with a new holding company but will be listed in the UK. It is not expected that the move will impact adversely on shareholders but will offer a more favour ... [Metasearch: Towergate Closes, Brit Insurance Leaves the UK and Kwik Fits Plays them out]
Compensation Culture Britain says - "Get 'em started young!" - 16.11.09
>>>> A 3 year old boy who was attacked by another toddler in a car has won the right to ask for compensation from the Criminal Injuries Compensation Authority. Jay Williams was hit on the head by another boy with a car jack when they were left alone in a car. He received a serious head wound which required sti ... [Metasearch: Compensation Culture Britain says - "Get 'em started young!"]
War, what is it good for? Populating Australia apparently - 17.11.09
>>>> Thousands of British children who were shipped to Australia following World War 2 have received an official apology from the Australian Prime Minister. They had been part of an agreement to populate the country and subsequently suffered years of abuse and neglect in state care. The UK government is ... [Metasearch: War, what is it good for? Populating Australia apparently]
Could installing Sat Nav invalidate your car insurance? - 17.11.09
Thousands of people invalidate their insurance claims every year and they don't even realize it. Make sure you're not one of them.
Most people are aware that leaving their front door or car unlocked will result in their insurance policy being declared void, but there are also a number of little-know ... [Metasearch: Could installing Sat Nav invalidate your car insurance?]
Sins of the Father - 18.11.09
>>>> The wife of a former IRA man who was beaten to death after his release from jail has been refused the chance to apply for compensation for his death. Despite taking her case to the Court of Appeal, the judge ruled that the criminal injuries compensation scheme did not apply due to the seriousness of her h ... [Metasearch: Sins of the Father]
Lazy Britain could get it's comeuppance - 19.11.09
>>>> Direct Line has teamed up with the safe driving charity Brake, to survey drivers on head restraints. They found that two thirds of drivers don't know what position the head restraint should be in to prevent injury during a crash. Only one in three correctly said that the top of the restraint should be lev ... [Metasearch: Lazy Britain could get it's comeuppance]
Are we a bunch of compensation-grabbing whingers? - 19.11.09
There is a perception that many things that happen in this country originate in the US. One of these is most definitely the tendency to sue for most mishaps, a trend that was popularised by the infamous 'McDonald's coffee case' of 1994. A 79-year old New Mexico woman who suffered third degree burns after spill ... [Metasearch: Are we a bunch of compensation-grabbing whingers?]
Comparison Site Satisfaction under 50% and Women want their own garages - 20.11.09
>>>> Which? Money have completed the first ever survey of comparison sites and found that these sites have the lowest average customer satisfaction score of any financial service. None reached higher than 50%. 21% of people expressed a lack of trust in the sites and many believed that commission was a factor i ... [Metasearch: Comparison Site Satisfaction under 50% and Women want their own garages]
Islamic Insurer Closes & 3-Hour Delay gets you Flight Compensation - 23.11.09
>>>> The first Islamic insurer to be based in the UK has closed its books after it failed to raise the necessary capital to continue. Salaam Halal, which was launched last July, has 10,000 policy holders and says it will honour all current policies until they expire. The management have blamed the reces ... [Metasearch: Islamic Insurer Closes & 3-Hour Delay gets you Flight Compensation]
Goverment U-Turns, Flooding, eBay and Dangerous Young Drivers - 24.11.09
>>>> A computer system failure caused Ebay to crash over the weekend. The company have said that the problem was due to a 33% surge, compared to last year, in items being listed for sale during the run up to Christmas. It is expected that Ebay will face a huge compensation bill from sellers who lost business d ... [Metasearch: Goverment U-Turns, Flooding, eBay and Dangerous Young Drivers]
Where there's a Child to blame, there's a Claim - 25.11.09
It seems that every other person is receiving compensation for accidents, injury or even "psychological damage". While there are certainly cases where payment is justified, a recent case has brought to mind the implications of allowing children to gain compensation from being hurt by another child. In particul ... [Metasearch: Where there's a Child to blame, there's a Claim]
Everyone Needs Someone to Blame ... and where there's blame ... - 25.11.09
>>>> The Metropolitan Police have finally agreed a compensation deal with the family of Jean Charles De Menezes who was mistakenly shot 4 years ago. The amount of compensation the family received has not been disclosed, but the family have said that they are pleased to be able to put the events behind them. De ... [Metasearch: Everyone Needs Someone to Blame ... and where there's blame ... (you know the rest)]
Banks Might not be Under the Influence but Young Drivers Certainly Are - 26.11.09
>>>> Bank customers have been dealt a blow as the Supreme Court has overturned a High Court ruling and said that banks can charge bank fees. More than 8 million customers are currently waiting to hear if they will receive their fees back from banks after the Office of Fair Trading asserted that fairness rules ... [Metasearch: Banks Might not be Under the Influence but Young Drivers Certainly Are]
Prisoners Receiving Millions in Compensation for "Feeling Blue" - 27.11.09
Any reasonable person might expect that once someone has been tried and convicted of a crime, they would do their time and then re-enter society. During their time in prison it might be expected that they wouldn't be able to drain the taxpayer of millions of pounds in compensation payments, considering that th ... [Metasearch: Prisoners Receiving Millions in Compensation for "Feeling Blue"]
Government lectures Insurance Companies whilst NHS Spirals - 27.11.09
>>>> Mark Thomas of Walsall has been awarded £3.2m in compensation after he was misdiagnosed by Walsall Manor Hospital. Mr Thomas, who was 12 at the time had been suffering with a severe ear infection and had visited his doctor several times. By the time a blood test was taken at the hospital and ... [Metasearch: Government lectures Insurance Companies whilst NHS Spirals]
Seems the World is coming apart - 30.11.09
>>>> A report from confused.com has suggested that there are inconsistencies in the way "/news/art_display.php?show=200911092">no claims discounts are protected. Will Thomas from the comparison site said in The Independent this weekend, that while some insurers may say they take off up to 75% from ... [Metasearch: Seems the World is coming apart]
HSBC Sells Assets as Ireland Floods - 01.12.09
>>>> According to the Irish Independent newspaper, parts of Ireland may become uninsurable following the recent floods in the country. It was suggested that reinsurance companies are likely to become more aggressive with their premiums, leading to some areas being uninsurable. Hibernian Aviva has said that the ... [Metasearch: HSBC Sells Assets as Ireland Floods]
AIG Deleted, Lloyds TSB Firing Again and L&G fight RDR - 02.12.09
>>>> AIG UK have finished their rebrand to Chartis Insurance UK, which began earlier in the year. The company have said that there will be no change to their legal status but that the rebrand brings together all AIG's global property and casualty businesses under one brand for the first time. The CEO commented ... [Metasearch: AIG Deleted, Lloyds TSB Firing Again and L&G fight RDR]
Compensation Laws: Inept Pieces of Legislation from Inept Governments - 03.12.09
Being involved in or having your loved ones killed in an accident is difficult enough to deal with, without having to then work out if you are entitled to compensation or not to help with the loss - especially if you are a family that has just lost the bread-winner. Often the system is unfair and arbitrary and ... [Metasearch: Compensation Laws: Inept Pieces of Legislation from Inept Governments]
Aviva & Dodgy Solicitors Funnelling Funds in Different Directions - 04.12.09
>>>> Aviva has agreed on the sale of RAC France, which coordinates roadside cover for UK drivers who breakdown in France. It also provides extended car warranties. The buyout is backed by French private equity firm Finadvance SA. RAC France has assets to the value of £38m. No details of the sale have yet ... [Metasearch: Aviva & Dodgy Solicitors Funnelling Funds in Different Directions]
"Savvy" Britain Easy to Pull the Wool over - 07.12.09
>>>> Research from moneysupermarket.com has shown that people living in Scotland experience the lowest insurance premiums in the UK. The analysis of more than 1m insurance quotes showed that 7 out of 10 of the cheapest insurance areas in the UK are in Scotland with Dunfermline and Glenrothes coming in t ... [Metasearch: "Savvy" Britain Easy to Pull the Wool over]
Festive Warnings & Another Life-Ruining Doctor is Kept on by the NHS - 09.12.09
>>>> 19 women who were left disfigured and in pain after botched surgery by a Barnsley Hospital surgeon Puvaneswary Markandoo, have been awarded £700,000 in total. The women were operated on after being treated for breast cancer. The hospital says that when a problem with the surgeons work was discovered ... [Metasearch: Festive Warnings & Another Life-Ruining Doctor is Kept on by the NHS]
Kids Fingers Cut Off, all our Luggage Lost and No-One wants a Pension - 10.12.09
>>>> A leading financial advisor has warned insurance companies that customers have lost faith their pensions due to poor performance and high charges. This comes after the ABI announced a £6.7bn drop in sales of pensions, insurance and investments for the three months to the end of September, compared t ... [Metasearch: Kids Fingers Cut Off, all our Luggage Lost and No-One wants a Pension]
Bank Bonuses get 50% tax whilst Insurers left in the clear - 11.12.09
>>>> The pre-budget report which was revealed on Wednesday has indicated that there will be a 1% increase in national insurance payments for middle income earners and another 1% for those on incomes above £44,000. The top tax rate has also been widened to include pension earnings, despite the small incre ... [Metasearch: Bank Bonuses get 50% tax whilst Insurers left in the clear]
Are criminals getting more compensation than victims? - 14.12.09
>>>> A jailed paedophile has won compensation from the Scottish Prison Service for failing to treat his toothache. Neil Robertson who has been described by a judge as a dangerous psychopath, made the claim after the prison service failed to find an NHS dentist to treat him. He has received an out of cou ... [Metasearch: Are criminals getting more compensation than victims?]
No Laws to Stop Insurers Deleting your No Claims Bonus Years? - 14.12.09
Thanks to the EU, the 5th Directive took over from the 4th Directive and covered a number of points relating to motor insurance. It was adopted on May 11 2005 and came into force on June 11 of that year. While much of it's provisions were already part of UK law, such as providing compensation from the Motor In ... [Metasearch: No Laws to Stop Insurers Deleting your No Claims Bonus Years?]
You take the high road and I'll take the low road and I'll sell insurance before you - 15.12.09
>>>> Aviva has been warning commercial premises owners to be aware that pipes leaking and bursting is more common following the Christmas break than at any other time in the year. In fact, claims for water damage rise by 20% between December and February. The average cost of each claim is around £3,100. ... [Metasearch: You take the high road and I'll take the low road and I'll sell insurance before you]
Christmas Warnings from Insurers - 16.12.09
>>>> Research from the Organisation for Economic Cooperation and Development (OECD) has found that the UK has below average survival rates for breast cancer. 78.5% of sufferers in the UK survive past 5 years, while the average in the US is 90.5% where almost all healthcare is provided on a private basis ... [Metasearch: Christmas Warnings from Insurers]
Everything is being insured, Everyone wants compensation - 17.12.09
>>>> Angela Frost, a nine year old girl who was left with severe brain damage after suffering from an undiagnosed virus, has received a multi million pound compensation payment. Staff at James Paget Hospital failed to recognise the virus which struck when she was a baby. The out of court settlement includes a ... [Metasearch: Everything is being insured, Everyone wants compensation]
Nothing to smile about in Britain at Christmas - 21.12.09
>>>> £6,000 of tax-payers money has been spent on a failed bid by a prisoner to gain compensation after he objected to a volunteer jail worker not addressing him with the title "Mr" - Bernard Pennington was in jail for attacking his wife with a machete and felt that being termed as a prisoner was a breac ... [Metasearch: Nothing to smile about in Britain at Christmas]
Money Makes the World Go Round, Dog Eat Dog ... you name it, Britain fits the Cliche - 22.12.09
>>>> Europ Assistance, an ID theft assistance organisation, has been issuing warnings to consumers to take care of their identity over the festive period. It advises keeping an eye on the activity in bank accounts and taking special care when shopping online to avoid fraudulent websites. They also remind peopl ... [Metasearch: Money Makes the World Go Round, Dog Eat Dog ... you name it, Britain fits the Cliche]
No wonder insurers get nervous at Christmas - 23.12.09
>>>> A group of teenagers who were raising money for the Muscular Dystrophy Campaign have been refused the chance to pack bags in Havant Tesco, as they were not able to prove they had public liability insurance. The customer services department had given the go-ahead to the group on the previous day, but they ... [Metasearch: No wonder insurers get nervous at Christmas]
Merry Christmas UK - Sorry about all the bad news this year - 24.12.09
We can't say that this year at NCD News has been enjoyable. Reporting in the financial sector will always lean toward bad news, but we had hoped to provide you with a larger percentage of helpful tips and advice rather than the masses of company obituaries and bland PR nonsense the surviving insurers were spil ... [Metasearch: Merry Christmas UK - Sorry about all the bad news this year]
Happy New Year to the Insurance Industry - 04.01.10
>>>> Weather forecasters have warned that the current cold temperatures being experienced around the country are set to last for another two weeks. The country has already had the coldest December in a decade and temperatures may drop as low as -15C in Scotland and Northern England over the coming ten days. Th ... [Metasearch: Happy New Year to the Insurance Industry]
Despite the Recession, People still not Maximising their Insurance Choices - 06.01.10
>>>> A study by Gocompare.com has revealed that 41% of consumers have not moved their utility or financial services provider during 2009, despite better deals being available. Those with motor insurance were the most likely to move with 22% switching, this was closely followed by energy customers at 20% and ho ... [Metasearch: Despite the Recession, People still not Maximising their Insurance Choices]
Winter Causing Excess Claims, Insurers Spend their time asking about Marital Problems - 08.01.10
>>>> The Association of British Insurers has issued guidelines for motorists during the bad weather this winter. This follows the revelation that 27 cars had been stolen in Lancashire in just two hours, after being left unattended while the drivers allowed them to warm up and de-ice. The ABI suggests th ... [Metasearch: Winter Causing Excess Claims, Insurers Spend their time asking about Marital Problems]
Costs are Always Passed on to the Consumer - 11.01.10
>>>> The NFU Scotland and the National Beef Association have asked the Scottish Government for funding to help farmers affected by the heavy snowfall of the past few weeks. Many farmers have experienced collapses of buildings due to the weight of snow, many of which are not covered by insurance. NFU Mut ... [Metasearch: Costs are Always Passed on to the Consumer]
Despite Insurance Workers Extra Efforts to Get in to Work - Customers still Complaining - 12.01.10
The UK has experienced the worst cold snap in thirty years which has caused record snowfall in many parts of the country. For most, that has meant days off work and school, altered plans and even panic buying at supermarkets and petrol stations. While this might seem like a perfect excuse for an extended Chris ... [Metasearch: Despite Insurance Workers Extra Efforts to Get in to Work - Customers still Complaining]
£42,000 Chicken Compensation and £8million for non-seat belt wearing crash victim - 13.01.10
>>>> The opinion that the UK has gone compensation mad has been borne out by the fact that a Staffordshire farmer was paid £42,000 after his chickens were frightened by the Red Arrows display team and failed to lay eggs. In addition, £117,000 was given to a Yorkshire racehorse owner when his horse ... [Metasearch: £42,000 Chicken Compensation and £8million for non-seat belt wearing crash victim]
Haiti, Thalidomide and Pleural Plaques - 3 Things Insurers are Not Worried About - 15.01.10
>>>> The victims of the morning sickness drug thalidomide have finally received an apology from the UK government. The apology follows a £20m compensation package which was announced last month. It will be administered through a trust over the next three years. The health minister expressed the go ... [Metasearch: Haiti, Thalidomide and Pleural Plaques - 3 Things Insurers are Not Worried About]
Tables Turn on Women Drivers after Retirement - 18.01.10
>>>> A report from Guardian Money has shown that until the age of 60, men are more likely to make a motor insurance claim, however after the age of 60 women tend to claim more often. The problem is so marked that after the age of 75 some insurers are making women pay more on their insurance. Statistics ... [Metasearch: Tables Turn on Women Drivers after Retirement]
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