The Association of British Insurers (ABI) today reported the heavy snowfall earlier in the year cost insurers £650 million in weather-related claims.
Between December 18 and January 13, when snow and plummeting temperatures swept the country, there were around 335,000 claims, said the ABI.
The majority...
Posted to
Finance
on 03-11-2010
Filed under: All Financial News, Insurance News, Association of British Insurers, ABI, weather, premiums, claims, snowfall, related
The Financial Services Authority (FSA), has announced a delay on its plans to reform the Payment Protection Insurance (PPI) market.
The City Watchdog said its consultation will be delayed by six weeks due to a heavy amount of criticism from the financial industry.
Under a PPI policy, an agreed sum of...
Posted to
Finance
on 03-10-2010
Filed under: All Financial News, Banking News, Insurance News, Debt News, Financial Services Authority, FSA, Which?, Loan News, mis-sold, criticism, delay, PPI, reforms, consultation, payment protection insurance
Insurers need to “change their approach” to older travellers, moneysupermarket.com claimed this week.
A spokesperson for the price comparison site made the comment after research found that British travellers can see travel insurance premiums more than double after their 65th birthday.
Multi...
Posted to
Finance
on 03-10-2010
Filed under: All Financial News, Pensions News, research, Insurance News, moneysupermarket.com, travel insurance, over 65s
Prudential, which is Britain’s second largest insurer, has today confirmed it is to buy AIA, the Asian arm of US company American International Group (AIG), in a deal worth $35.5 billion (£23.3 billion).
In a stock market statement today, Pru said the deal provided it with the opportunity to create South...
Posted to
Finance
on 03-01-2010
Filed under: All Financial News, deal, Insurance News, Prudential, Company News, finance, rights issue, acquisition, AIG, presence, AIA, Asian arm