90% No Claims Discount? Maybe, but not likely in Hull

NCD News: AXA offering a 90% No Claims Discount? - 01.02.10

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90% No Claims Discount? Maybe, but not likely in Hull: >>>> Motorists who say they have been unfairly clamped on private land are being given the right to ask for compensation as part of the new Crime and Security Bill, which is due to come into force in 2011. Under the new rules, clamper's who charge huge fees to release cars may be restricted to the fees levied by local councils. Clamping companies will also be expected to sign up to a code of conduct agreement and would have to put up clear signage. An independent appeals process will also be introduced. Stephen Glaister from the RAC commented that the appeal system was fundamental to the reform of the industry and the "license to print money" which clamper's have enjoyed up until now, looks set to be revoked.

>>>> A ring of 57 "crash for cash" fraudsters has been ordered to pay almost £400,000 to the victims of their crimes. Seven insurers including Aviva, Churchill and Directline joined together to sue the fraud ring in an attempt to recoup their losses and to compensate those innocent people who were their victims. Lawyers have asked for freezing orders to be placed on the fraudsters properties and they have been ordered to pay exemplary damages in excess of the actual costs involved, which is rare in the UK courts. The members of the ring staged 30 accidents between 2005 and 2006.

>>>> AXA has launched a new website to sell it's insurance direct to the public and it is enticing customers with a market beating 90% no claims discount. AXA products are usually sold through brokers alongside its Swiftcover brand. It is now targeting drivers of low performance cars, aged between 45 and 80 and those with no claims in their past. The company says that just 6% of drivers with at least 8 years driving experience have claimed for an accident which was their fault in the last year and they are five times less likely to have been caught not wearing their seatbelt. Experienced drivers are also much less likely to claim insurance fraudulently. The launch of the new product will be backed up by a £10m marketing campaign and the product will also be available on comparison site Confused.com.

>>>> The annual Endsleigh Motor Theft Index has revealed that Hull is the riskiest place to own a car and Lincoln was the safest. The survey which pulled together claims information from the last three years, included claims for stolen cars and for possessions stolen from cars. The report ranked towns according to the frequency of theft claims to determine the overall risk. A spokesperson from Endsleigh stated that Government statistics have shown a decline in car crime, yet some cities still have a higher risk than others.

>>>> A report by Homeserve has estimated that the cost of last months snow was £2bn. Approximately 5.9 million homes had average repair bills of £343 and just 21% of these had insurance in place to cover the cost. Boiler repair call-outs were made by 2.2 million households and was the most common reason for a call-out to Homeserve. 1.24 million households suffered water leaks, while 4% had the misery of a burst pipe. Another 4% had to have their roof repaired after it was damaged by the weight of snow. The North East of England was the hardest hit and 42% of people in the region had a home emergency.

>>>> Meanwhile Swiftcover has been named by lovemoney.com as the UK's best value for money car insurer for 2010. Swiftcover claims to the the only insurer in the UK to have no call centres, which means they can keep prices low. Tina Shortle from Swiftcover commented that the award was particularly significant as it was voted for by the public and that their commitment to customer service is paying off.

>>>> According to AA Insurance the home insurance market has not been as volatile as the motor insurance market in the last year. This is despite the cost of home insurance increasing by an average of 10.5% in 2009. Simon Douglas of the AA points out that the rise is down to the increased costs of repairing buildings and the increase in the number of claims. Extreme weather conditions also contributed with 2009 seeing floods, severe snow, hailstones and even tornadoes. Contents insurance fell during the first part of 2009, but saw a significant increase in the final quarter and as stated by the AA, contents cover is generally discounted quite heavily and the industry may simply be correcting this. It is often more cost effective to buy contents and buildings insurance together.

>>>> According to Macmillan Cancer Support one in 13 people with cancer are forced to travel without travel insurance as they cannot get covered. They also claim that two in five pay higher premiums. Mike Hobday from the cancer charity commented in the Scotsman that insurers seem to have little consistency in the way they treat cancer patients. He says that even people who have finished treatment can have trouble getting cover. He says that many insurers fail to update their risk strategies after new treatments of cancer and other critical illnesses improve the diagnosis of many patients. He recommends shopping around for cover and that some insurers specialise in high risk travellers.

>>>> Research from Sainsbury's has found that one third of the UK adult population may be putting their music collection at risk due to it not being covered by insurance. Only 24% of homes have home insurance policies which cover downloaded music, despite an estimated £1.3bn worth of tracks owned by UK consumers. Nearly a million people in the UK say that they own £250 worth of music, yet just 5% are sure that they would be covered should they lose their computer. Some download sites offer receipts to prove the music was owned, but without this some insurers will refuse to pay. Sainsbury's recommends that people backup their music to another computer and also check their insurance policy to see if they are covered.

>>>> The FSA has announced that it will expect the finance industry to publish information on how they handle complaints by 31 August 2010. Companies which receive more than 500 complaints in a six month period must publish information on the complaints twice yearly. This will include how many complaints were made, how many were closed within 8 weeks and those upheld. The information will be expected from the insurance, banking, home finance, pure protection, life, pensions and investments industries. The FSA will consolidate the data and publish it twice each year. The FSA claim that the new system will provide incentives for the companies to deal more effectively with the complaints they receive.

>>>> Insurance premiums for soldiers in war zones have increased by a further 10% to make a total increase of 40% in the last year. Military insurer Pax increased its premiums by 30% in September and this has now increased to 40% due to so many injuries and deaths being suffered. The new premiums which will start on March 1, will mean that a married serviceman can expect to pay £58.50 per month.

>>>> The Office of Fair Trading has estimated that almost 10% of adults in the UK have responded to a scam and half of these lost more than £50. 5% lost more than £5000. The OFT stated that 73% of people had received a scam email in the last year and 6500 received letters from authorities warning them they are on circulated lists as potential targets. In response, the OFT is launching a "scamesty" to encourage people to report the issue either online or in person. The OFT recommend that people be sceptical, do not send money to people they do not know, and to think about how much money they could lose.

>>>> Passengers affected by delays and disruption on the Thameslink commuter line from Bedford to Brighton have been told they can now claim free travel or discounted tickets in addition to the usual compensation. The train line was affected for three months after employees refused to work voluntary overtime due to pay issues. Ever since the dispute was resolved the new timetable has caused some further delays and overcrowding. Commuters have campaigned for the FirstGroup to have the franchise removed. The company described the issues as teething problems and infrastructure issues.

>>>> Trawlermen from North East Lincolnshire who lost income during the Cod Wars of the 1970's when fishing quotas were imposed and redundancies were common, are yet to see any of the compensation which is available to them. The Government has a pot of between £5m and £10m available and a helpline has been set up by the Department for Business, Innovation and Skills which started distribution of the money last year. Trawlermen from the area believe that the Government is going back on its word and some believe that the payments already made have depended on which ministers are working on behalf of the fishermen. The Government is urging the fishermen to be patient and that the compensation claims are under consideration. †