Elon Musk poised to disrupt UK energy market with new Tesla supplier July 12, 2023 The energy market could be shaken up by a bold new challenger, with Elon Musk's Tesla unveiling plans to launch a new supplier in the UK.
Electric vehicle transition to drag up car insurance premiums, warns report July 5, 2023 The transition to battery electric vehicles (BEVs) will “force a whole-scale adaption of the motor insurance sector” as it struggles to find a solution to the additional costs involved in insuring the new technology, a new report has warned. BEV claims are already 25.5 per cent more expensive than their combustion engine counterparts and could [...]
FCA: Insurers must put ‘wrongs right’ and are failing the vulnerable in cost of living squeeze July 3, 2023 Insurers are failing vulnerable customers and need to put “wrongs right” as Brits are hammered by a cost of living crunch, the Financial Conduct Authority has warned today.
UK motor insurers issued worst performance in a decade last year – and it’s not looking much better for 2023 June 26, 2023 UK motor insurers delivered their worst performance in a decade last year, new data has revealed, as inflation radically jacked up the cost of claims. Car insurers’ net combined ratio (NCR), which shows claims and costs as a proportion of premiums, hit 109.5 per cent in 2022, according to new data from EY released today. [...]
Bank of England tells insurers to brace for persistent ‘claims inflation’ June 23, 2023 Insurers must rigorously assess the impact on their solvency of the rising cost of settling car, property and other claims and ensure they have sufficient reserves, the Bank of England told the sector on Friday.
Saga profit expectations ‘well ahead’ of last year but insurance arm weighs down results June 20, 2023 Saga it expects profits to be “well ahead” of the previous year, driven by a strong performance from its ocean cruise and travel section – but its insurance arm continues to weigh it down. The over 50s specialist saw £150m in booked revenue from its travel segment as of this week, 37 per cent ahead [...]
Gen Z drivers forking out extra £300 as soaring car premiums offset dip in petrol costs June 13, 2023 Young car owners are paying an extra £300 to drive a car this year as a result of insurers hiking up premium prices, new research shows. Analysis from Compare the Market shows that young motorists between 17-24 are now paying £2,559 to drive a car for a year, compared with £2,263 in 2022 a “substantial” [...]
UK car insurance costs likely to rise for another two years, report says June 12, 2023 UK car insurance costs are set to rise for at least another two years, according to a new report. The price for Brits to insure their cars is expected to rise 14 per cent in 2023 and will not flatten until 2025, according to a report by consultancy Oxbow Partners. It comes as inflation has [...]
Forget the Parthenon – Why alternative Athens is a must June 12, 2023 Away from the historical monuments, Ash Hiden gets to grips with Athens’ vibrant food and drink scene You will want to see the Parthenon. I get it. The imposing temple on the hill of the Acropolis serves as an ancient advertisement for Athens, stamping your mental passport like a marble version of the Hollywood Sign. [...]
Slow down! MPs and industry call for insurance and number plates for e-bikes June 11, 2023 E-bikes should be insured and have number plates due to the safety risks for pedestrians posed by speedy riders, warned MPs and industry members on Sunday. As more and more e-bikes take to the streets of the UK and counts of widely reported incidents grow, calls are growing for measures to help bring the electric [...]