NHS Trusts back out of working with Bupa over unpaid medical bills October 30, 2022 At least two NHS Trusts have reportedly backed out of working with medical insurer Bupa over claims of unpaid bills. The Royal Surrey NHS Foundation Trust has called in lawyers and is threatening court action over £400,000 worth of private patient’s medical bills, which have gone unpaid, The Sunday Times first reported. Oxford University Hospitals [...]
Royal Exchange owners Oxford Properties sell City gem to Ardent for around £50m October 28, 2022 The owners of the Royal Exchange have sold the City’s retail gem to an Atlanta-based real estate investment firm. The retail element of the neoclassical site – which is home to luxury brands including Tiffany & Co and Hermès – has been snagged by Ardent UK, a subsidiary of its US owner. While Ardent did [...]
Longer lifespans require pensions system overhaul October 27, 2022 The UK population’s increased longevity poses serious problems for the country’s pensions systems, Britain’s largest long-term savings business has warned. Increasing life expectancy will require a re-evaluation of traditional notions of retirement, Phoenix Group said, in warning up to 17m British people are not saving enough to retire when they expect. The FTSE 100 insurance [...]
Hurricane Ian could be insurance sector’s biggest loss since Hurricane Katrina October 27, 2022 Hurricane Ian threatens to become the insurance sector’s second biggest loss since Hurricane Katrina, with cost estimates to the industry ranging from $40-60bn (£35-52bn). The Category 4 storm that hit Florida in late September was the deadliest storm to hit the sunshine state since the Labor Day Hurricane in 1935. Hurricane Ian hit Cuba within [...]
Europe’s insurance lobby welcomes overturning of EU online marketing rules October 26, 2022 Europe’s main insurance sector lobby group has welcomed the EU’s decision to overturn rules regulating the sector’s online and telecoms marketing activities. Insurance Europe, whose members include Lloyd’s and the Association of British Insurers (ABI), said it “strongly welcomes” the repeal of the EU’s consumer rights legislation, which seeks to protect consumers that sign contracts [...]
Ford to discontinue Fiesta production as focus shifts to electric cars October 26, 2022 Ford will discontinue the production of its iconic Fiesta model by the end of June 2023 as the car maker focuses on its electrification strategy. The marque announced today that, alongside the Fiesta, it will also stop manufacturing the S-MAX and Galaxy models. “At Ford in Europe, we are accelerating our efforts to go all-in [...]
HSBC shares sink to bottom of FTSE 100 despite profits topping City forecasts October 25, 2022 HSBC’s profits slid over 40 per cent in the third quarter of the year as it was hit by rising loan losses and hefty charges relating to the sale of its French retail business.
Insurance sector’s hard-nosed approach sees surge in High Court battles October 25, 2022 A hard-nosed approach towards paying out on policies, particularly in relation to Covid-19 business interruption claims, has led to a surge in lawsuits being filed against the UK’s insurers, new research shows. The number of High Court lawsuits filed against insurance companies more than tripled between 2017 and 2021, as policyholders increasingly resorted to legal [...]
BlackRock raises £4bn for new climate fund amid fossil fuel criticism October 25, 2022 BlackRock said it had raised $4.5bn for a new climate infrastructure fund today as it looks to ramp up investment in the net zero transition amid criticism of its decision to continue backing oil and gas firms.
Not-so-free-market Rishi isn’t perfect, but he’s the right choice right now October 24, 2022 Rightly or wrongly, Britain’s credibility is at stake – and right now, Rishi Sunak is more likely to restore confidence in the country’s government than either Penny Mordaunt or Boris Johnson The choice facing Conservative MPs today is a difficult one. They are behind in the polls, and fear for their political future. They are [...]