UK Insurance News

According to a report in the Sunday Telegraph, British Gas has ambitious plans to enter into the UK insurance market and become a leading player within a two to three year time scale.

British Gas, which is owned by Centrica, has won approval from the Financial Services Authority to underwrite its own household and warranty products and the company is currently looking to recruit an underwriting director to operate from their offices in Staines.

The utilities company has a customer base of 4.5 million and the new charge will be responsible for converting a ‘high percentage’ of existing British Gas clients to new insurance products.

The new director will also be commissioned by British Gas Insurance Ltd, to create a top ten UK insurance provider within the two to three year time span.

Home Insurance specialist LV= say that the UK public will spend an estimated £132 million online this year, buying ‘black market’ goods for Christmas, through auction sites and bargain hunting.

Their research says that 35% of the public will turn to online auction sites and market places to hunt for bargain Christmas gifts and 40% will be happy to turn a blind eye to potentially stolen goods if the price is right.

Experts warn online shoppers to check out the background of independent sellers online, with one in twelve shoppers previously falling victim to criminals selling stolen or fake goods.

LV= also warn shoppers to be on their guard, saying that anything stolen or counterfeit will not be covered by a home insurance policy so shoppers buying these goods could find themselves or their family out of pocket. Furthermore, buying from these sellers encourages further criminal activity such as burglary and theft.

LV= offers the following advice to avoid ‘black market’ goods:

• Carefully check the description and photographs of the item online and compare with other examples for sale.
• Check if the price is similar to other sellers, and if it is much lower be suspicious.
• When buying a designer item, such as a watch or bag, check that you are getting all the extras such as the box and certificate of authenticity.
• If you are buying a designer watch, check that the number engraved on the watch itself matches the number on the certificate of authenticity.
• If buying expensive items, avoid private sellers and buy from registered UK businesses. These are by law required to provide an address and phone number.
• When dealing with private sellers, ask for a name and check they have working contact details before you part with any money and always check their online ‘feedback’.
• Avoid any seller who asks for payment only by cash or by moneygram type services.
• Check if there’s a refund and returns policy – all legitimate UK businesses have to offer refunds and returns.
• If you’re dealing with an independent private seller, ask about their refund policy and get this in writing so you are less vulnerable in the event of the item being damaged, stolen or counterfeit.
• Use online reviews and reputation sites to check out sellers.
• Pay by credit card or take advantage of protection schemes provided by online payment suppliers. You will then be protected if the goods do not arrive or turn out to be fakes.
• One of the biggest risks of ending up with stolen or counterfeit goods is when purchasing from abroad. Be particularly cautious when buying from China, Nigeria and Romania.

As any driver from the UK who has driven abroad can testify, Britons are generally among the most law abiding and safety conscious of motorists in Europe.  I guess we all knew that already, but research from AXA insurance in its annual survey of driver behaviour across ten European countries has confirmed the UK as home to the most conscientious motorists.

The research takes into account eleven different driving behaviours, some required by law and others considered to be courteous or sensible. The survey reveals that motorists in the UK are less likely to drink and drive than our European neighbours, only 4% admitting to the crime in the UK, compared to a European average of 21% and 40% in Luxembourg.

Britons are more likely to wear a seat belt, but less likely to use a mobile phone while driving than Europeans in general. The UK  motorist also has the lowest rate of speeding, jumping traffic lights and crossing a solid white line to overtake.

So just where does the average British motorist fall down?

One of the main criticisms of the UK driver is that they do not take regular ‘rest breaks’ when driving for more than two hours, an area that only motorists from Germany and Luxembourg can compete with. UK drivers are also liable to ‘undertake’ more than any of their European counterparts other than the Germans and Portuguese.

take care on the slopes

With skiing holidays becoming among the most popular winter vacations for UK residents, specialist insurer PJ Hayman have listed their Top Five Tips for those venturing onto the ski slopes.

“With scores of Brits expected to visit popular skiing destinations this season, it is imperative to keep safety at the forefront at all times. No matter how seasoned the skier, there are certain guidelines that should be adhered to, to ensure a safe and enjoyable on the piste experience.”

1. Wear appropriate clothing and safety gear
   Wrap up warm on the slopes and make sure you have all the necessary equipment to keep you safe when skiing e.g. wearing a helmet. Double check your ski equipment before using it to ensure it is all in order.
2. Stick to the slopes you are comfortable with
   Whether trying out a new resort for the first time, or returning to an area you are familiar with, it is imperative to feel safe on the slopes. This may mean a “back to basics” approach to begin with, until you feel ready to try the more adventurous runs.
3. Ensure you obtain adequate travel insurance to cover for any mishaps on the slopes
   Whilst a fun activity, skiing can be a hazardous sport and it is imperative to have sufficient travel insurance should anything go wrong. Make sure you carry your documents with you at all times so that you are not refused help if you have an accident on the slopes. It is also important to check your policy to ensure that you are adequately covered, particularly if you are planning to go off-piste.
4. Check the weather conditions
   Before hitting the slopes, it is wise to check the predicted weather conditions so you are not caught out or put in danger by any unexpected snow storms.
5. Don’t over indulge in après ski!
   Although it is tempting to have a tipple or two at lunch time, the high altitude can affect your reactions to alcohol. Be wary of this when treating yourself after a morning of skiing

Cover for winter sports can be obtained from reputable travel insurance providers including P J Hayman who have a Travel Plus travel insurance product which offers FREE winter sports cover with annual multi trip policies.

Struggling Helphire, the accident management company that offers courtesy cars to insured drivers who are involved in accidents that were not their fault, have formed a partnership with Hastings Insurance Services.

In September this year it was reported that Helphire had been hit on several fronts when Arcomas ended their association with the company, the owners of AA and Saga insurance had accounted for one fifth of Helphire turnover.

At the same time the financial crisis took it’s effect on Helphire who saw a fall in business through fewer vehicles and less accidents on the roads as well as a massive depreciation in it’s stock of vehicles.

The new agreement has been welcomed by both parties, Helphire saying that customers would enjoy high quality accident management services and the company was committed to offering high level service.

Hastings said the agreement with Helphire provides a product offering that caters for the needs of its customers and is adaptable depending on the markets changing needs.