Lloyds TSB Sells, Admiral Shares & Liverpool Fails

NCD News: Lloyds TSB Sells, Admiral Shares & Liverpool Fails - 19.10.09

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Lloyds TSB Sells, Admiral Shares & Liverpool Fails: >>>> Further to our recent news on the Lloyds TSB sale of Halifax Estate Agencies, it has been confirmed today that they will be selling the business for just £1 to LSL Property Services, the company behind Your Move. It is estimated that 460 full and part time positions will go as 121 banking counters within the estate agencies will be closed.

>>>> Insurance company, All Clear have warned holidaymakers intending on booking a cruise, to make sure they have tailor-made insurance for this type of holiday. They have said that 34% of cruise takers do not have enough insurance to cover them if they are taken ill. If an ill person has to be airlifted from a cruise ship, the extra cost will usually be passed to the customer. In addition any excursions booked and paid for in advance which are cancelled may not be covered by standard travel insurance.

>>>> Aviva have released details of their Simply Safety campaign which aims to encourage small and medium sized businesses to understand the importance of health and safety. They say that many businesses are reducing their health and safety cover. They also point out that employers liability insurance is a legal requirement and that savings can be made elsewhere.

>>>> Financial experts have agreed that Admiral is expected to meet its 2009 profit forecasts. The insurers car insurance side of the business has helped to generate a 22% increase in turnover to £294m. The car insurance business grew by 16% with the number of customers increasing by 17%. The firm had already given employees £4.5m in shares after a record half year profit in August.

>>>> Saga Personal Finance have launched a new pension annuity in conjunction with Legal and General. The annuity is aimed at those with pensions under £100,000, but is thought to be a good option for those with £30,000 - £50,000 to invest. It will pay either a flat rate or one which increases as the person ages. This will help with increasing ill health costs. Saga have said that people often do not realise they can move their pension pot to a new provider when buying an annuity.

>>>> International insurer, Groupama has launched a new insurance group in Turkey. They have joined together with two local insurance companies to form the partnership. It is expected that the Turkish customers will benefit from local knowledge and international expertise. Turkey is seen as an important emerging market for insurance and Groupama estimate they will have more than 3 million customers.

>>>> Dianne Willmore, who sued her local authority after being exposed to asbestos while at school, has died aged 49. She died just 24 hours after receiving a compensation payment of £240,000. She had been suffering from the effects of asbestos exposure. Her solicitor said she is angry that Mrs Willmore will not be able to use the compensation.

>>>> A short stretch of pavement in Liverpool has cost the local council £30,000 in compensation in just 3 years. A local councillor in the area has complained that the authority has ignored the obvious problem and concentrated on fixing pavements which do not require it. He feels that they should base their program of pavement repair on the areas which cost them the most. There have been 5 trips or falls on the pavement in the last 3 years which have required compensation payments.

>>>> Cristina Malcolm of Durham has received £4m in compensation following her GP's failure to spot a brain haemorrhage. She was told she had a virus and headache but eventually required surgery to release pressure on her brain. She has been left with brain damage which has reduced her memory to just ten minutes.

>>>> Barclays will find out today if they have been successful in avoiding a ban on selling Payment Protection Insurance alongside loans. The Competition Commission and the Financial Services Association have banned the practise of selling the policies at the same time as loans from 2010. Barclays, who are supported by Lloyds in their action, have challenged the ruling and say the evidence supplied does not justify the change. †