Brexit may finally be hitting the car market after new car sales to consumers fell in October November 4, 2016 The UK new car market grew 1.4 per cent last month with sales of 180,168 new cars, new figures have shown – but individual consumer registrations fell by 1.1 per cent. Growth was led by new fleet registrations, which rose 4.2 per cent, according to figures published by the Society of Motor Manufacturers and Traders (SMMT) [...]
Facebook data and privacy rules sink Admiral’s insurtech plans November 2, 2016 Facebook has sunk plans by Admiral to offer a reduced car insurance premium based on users posts on the social network. It turns out the insurance firm has fallen foul of Facebook's terms of use, which stipulate that data from Facebook can't be used for assessing eligibility. That's exactly what Admiral wanted to do, using posts [...]
Your Facebook profile can’t make your car insurance cheaper, It turns out November 2, 2016 Update: Facebook has blocked plans by Admiral to reduce premiums based on profile data – find out more. Beware what you share – your Facebook status could be giving away more than you think. Insurance firm Admiral is plundering the social network for information that could indicate how safe you are as a driver, resulting in a [...]
Abolishing these 20 taxes will help the poor, says the IEA November 2, 2016 A radical free-market Westminster think thank is claiming it can maintain welfare support and improve the lot of the low-income workers while scrapping nearly every mainstream tax that the government currently imposes. The Institute of Economic Affairs says the controversial plan would see the poorest 10 per cent of the UK enjoying tax cuts worth [...]
17m of us are now part of the sharing economy – but could be uninsured for it November 2, 2016 Nearly a third of Brits are now part of the so-called sharing economy, renting out their homes, cars, and even their dogs, or using these services themselves. Some 17m people across the country participate in the new and growing sector, while one in 10 offer up their services, according to new research by Lloyds Bank Insurance Of [...]
Small businesses call for help on flood insurance ahead of winter November 2, 2016 The Federation of Small Businesses (FSB) has backed MPs’ calls for more affordable flood insurance for its members. A new Environment, Food and Rural Affairs Committee report out today recommends the government develops a grant scheme by the end of next year to help small firms install flood resilience measures. The FSB said the committee [...]
Whiplash-gate: we’re all paying for the unscrupulous few, say motoring experts October 27, 2016 Car insurance premiums are spiralling out of control due to a "whiplash epidemic" according to data released by motoring organisation the AA. The average cost of annual car cover is now £82 higher than a year ago, a 17 per cent year-on-year increase. Alongside spurious whiplash claims, the AA said that recent increases in insurance premium [...]
Five ways government can cut the soaring cost of car insurance for honest drivers October 18, 2016 The rising cost of insurance understandably concerns many motorists. The average comprehensive motor insurance premium has risen by 10 per cent over the last year. Today we lift the lid on what is driving up the costs of motor insurance, and what is needed to give hard-pressed honest motorists a break. Lifting the Bonnet on [...]
Competition and Markets Authority to investigate price comparison websites September 29, 2016 The UK's competition watchdog is launching a wholesale review into price comparison websites to investigate how they make their money and whether they really do help consumers get the best deals. The Competition and Markets Authority (CMA) announced the review this morning – the latest in a long-line of high-profile probes the body has conducted including [...]
LV= operating profit more than halves after poor general insurance performance September 19, 2016 Mutual insurance, retirement and investment group LV= revealed today that operating profit had dropped to £33m in the six months to 30 June, down from £79m this time last year. The firm's chief executive, Richard Rowney, who replaced previous boss Mike Rogers this year, said the lower group operating profit "reflects lower operating profits in the [...]