Latest Insurance News

Talking Shop: Green Tax? Pull the Other One Gordon

But as you pack your bucket and spade in readiness, don't forget to come to terms with your carbon footprint. In other words, the environmental impact of that aircraft flight to your favourite sun spot - not to mention the air con. The modern way is to seek to offset the damage by working out the cost and then committing an equivalent sum to some worthy green charity in the third world. So while you're enjoying the dolce vita, your conscience is salved because trees are being planted in...

Provident Financial Insurance Arm Up for Sale

By James Daley A sale of the division could raise up to pound(s)225m, according to analysts, although house brokers Dresdner Kleinwort and Merrill Lynch have estimate the business to be worth pound(s)155m and pound(s)188m respectively. In a statement to the market yesterday, Provident said: "In response to third party approaches for its non-core insurance business, Provident Insurance [the group] has decided to commence discussions with a view to establishing whether greater shareholder v...

RECORD Money: MoneyExpert.Com

MORE than half of British consumers ditched a product or service provider over the last six months in search of a better deal. MoneyExpert.com's Switching Index for January found that 51 per cent of customers said they had switched from a householdservice or personal finance provider in the second half of 2006. It found that 212,000 contracts changed hands, and a total of more than 39million products and services were ditched. Gas and and electricity suppliers were the most common area forswa...

Editorial ; Hopes Are Dimming for Auto Reform

Gov. Deval Patrick is sending strong signals about the future of the state's antiquated auto insurance system, and so far not a single one of them is very good. First, he canned Insurance Commissioner Julianne Bowler, a champion of insurance reform under former Gov. Mitt Romney. And if we held out any hope that Patrick might advance the reform agenda that Bowler started - well, we shouldn't have. In another potentially damaging move, Patrick sent word on Friday that he's suspending the "a...

EDITORIAL: Sharing Credit

By The Sun, Lowell, Mass. Jan. 22--Many people will try to take credit for the upcoming reductions in Massachusetts' auto-insurance rates. Unfortunately, two of those most involved in pushing for insurance reform and working to achieve rate reductions are no longer serving in state government. Former Insurance Commissioner Julianne Bowler and former Attorney General Tom Reilly fought long and hard to correct many of the flaws in the auto-insurance system and to crack down on insurance fra...

Your Money: CAR COSTS UP ; Pound Notes

By MELANIE WRIGHT pounds THE cost of car insurance rose by more than 4 per cent over the last quarter of 2006, taking the average premium for an annual comprehensive policy to more than pounds 800 for the first time, according to AA Insurance. The average cost of a third party policy also rose, to just under pounds 1,000. (c) 2007 Sunday Mirror; London. Provided by ProQuest Information and Learning. All rights Reserved.

Insurers Under Fire Over Credit Reports

By PETE YOST Associated Press WASHINGTON -- Several Supreme Court justices seemed taken aback Tuesday at the idea that insurance companies might be required to notify tens of millions of customers that they aren't getting the best rates because of their credit reports. In making the argument for notification, lawyers for consumers said two insurance companies -- Geico and Safeco -- violated the Fair Credit Reporting Act by failing to send customers notices of adverse decisions made because...

Patrick Parks Romney's Auto Insurance Plan

By CASEY ROSS The Patrick administration has suspended a controversial change to the state's auto insurance system initiated just weeks before former Gov. Mitt Romney left office. Patrick's acting insurance commissioner, Joseph Murphy, formally halted implementation of Romney's assigned-risk plan, which sought to change the way drivers with shaky records are treated by insurance companies. "I have taken this action in order to consider the impact of the . . . change and both the short- ...

Insurer Sale

PROVIDENT Financial, a UK lender to low income households, said it was in talks to sell its non-core auto insurance arm. Provident Insurance, after receiving takeover approaches. (c) 2007 Evening Mail; Birmingham (UK). Provided by ProQuest Information and Learning. All rights Reserved.

Providence to Consider Selling Auto Insurance Segment

UK home credit provider Provident Financial is considering the sale of its non-core car insurance segment Providence Insurance, following approaches by unnamed third parties interested in purchasing the business.Provident Financial, which is also in the process of divesting its international business, has revealed that it will review whether greater share value could be achieved through the sale of Provident Insurance.Bloomberg has reported Merrill Lynch analyst Philip Middleton as valuing Pr...